Acquisition Fee - A party who is covered by another party's insurance policy. The lessor typically requires you to name the lessor or assignee as an additional insured under your vehicle insurance policy.
Amortized Amount - Amounts such as taxes, fees, charges for service contracts, payments for insurance, and any prior credit or lease balance that are included in the gross capitalized cost and are paid as part of the base monthly payment
Ballon Payment - An additional payment that may be charged at the end of a loan or lease.
Base Price - The cost of a car without options, but including standard equipment, factory warranty, and freight. This price is printed on the Monroney sticker.
Credit Bureau - An agency that maintains individual's credit records.
Destination Charge - The fee charged for shipping, freight, or delivery of the vehicle to the dealer from the vehicle to the dealer from the manufacturer or port of entry. This charge is to be passed on to the buyer without any mark-up.
Early Termination Chage - The amount you owe if your lease ends before its scheduled termination date, calculated as described in your lease agreement. The earlier your lease is terminated, the greater this charge is likely to be.
Fair Market Value - The amount that a willling buyer would pay to a willing seller to purchase certain property at a particular point in time.
