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Buying A New Car: Glossary of Terms |
The following terms are associated with purchasing a new car and are defined as follows: Invoice Price is the manufacturer's initial charge to the dealer. This is usually higher than the dealer's final cost because dealers often receive rebates, allowances, discounts, and incentive awards. The invoice price always includes freight (also known as destination and delivery). If you are buying a car based on the invoice price (for example, "at invoice," "$100 below invoice," "two percent above invoice"), be sure freight is not added to the sales contract. Base Price is the cost of the car without options, but includes standard equipment and factory warranty. This price is printed on the Monroney sticker (see below). Monroney Sticker Price shows the base price, the manufacturer's installed options with the manufacturer's suggested retail price, the manufacturer's transportation charge, and the fuel economy (mileage). It is a label affixed to the car window and is required by federal law. The label may not be removed by anyone other than the purchaser. Dealer Sticker Price, usually on a supplemental sticker, is the Monroney sticker price plus the suggested retail price of dealer-installed options, such as additional dealer mark-up (ADM) or additional dealer profit (ADP), dealer preparation, and undercoating. |
Credit Kit -- Improve your credit rating and save $200 or more on monthly bills Debt Kit -- Settle unsecured debts for less than half of amount owed |
Loans > Buying a New Car |
