Auto Loan Learn the Terms

Car Talk
Below are some terms you may hear when shopping for a new or used vehicle or auto loan. Some words may have more than one meaning. Only those meanings relating to this site will be used.

Definitions A - Z

Value
An expression of monetary (relating to money) worth of a particular piece of real estate, or vehicle, or goods, etc. A fair price.

Variable Rate Financing
The interest rate varies and the amount you must pay changes over the life of the contract.

Vehicle Identification Number
Also known as VIN or VIN Number or VIN #. A unique number given by the motor vehicles manufacturer that identifies one vehicle from another and usually consists of 17 characters that do not include the letters I, O or Q. It is usually located under the windshield on the driver's side, viewed from the outside of the car looking through the windshield.

SCAMS & FRAUD
Some Scams, Fraud, and Consumer Abuse Items in the News

Federal Laws
Major Laws That Govern Financial Institutions & Protect Individuals in Their Financial Dealings

Organizations

Fannie Mae
Freddie Mac
Ginnie Mae
Nellie Mae
Sallie Mae

Consumer Info

Consumer Tips
Credit Bureau
Credit Insurance
Credit Report
Directory of Federal Agencies
Federal Trade Commission (FTC)
Identity Theft
Predatory Lending
Repair Your Bad Credit
Truth in Lending Act
Borrowers Beware

Miscellaneous

Private Mortgage Insurance (PMI)
Prepayment Penalty

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