APR - Annual Percentage Rate: Annual actual cost of credit, expressed as an equivalent yearly rate. The APR is intended to provide a common means of comparing the cost of credit available under different types of agreements.

Credit History: Your credit history is based on your payment patterns to your creditors. This information is reported to credit reporting agencies, the most familiar being Trans Union, Experian, and Equifax.

Credit Report: A report provided by a credit bureau regarding an individual's credit history, which includes payment history, current credit accounts, trade, inquiry and public records. The report also includes personal data such as address, employment and social security number.

Credit Score: An evaluation of an applicant's creditworthiness based on key attributes of the applicant. Such attributes may include payment history, current credit accounts, capacity to pay, payment-to-income ratio, payment-to-acquisition ratio and contract terms.

Down Payment: The amount of money you pay up front towards the financed purchase of a vehicle.

Early Termination Fee: The amount you will have to pay if you decide to return a leased Certified Pre-Owned vehicle before your lease is up.

Kelley Blue Book: Kelley Blue Book is a source for used vehicle values. Many dealers use the Kelly Blue Book to establish your vehicle's trade-in value. Using it will provide you with an estimated trade-in value. Please remember that the vehicle trade-in values quoted are estimates only and may not be realized as the actual trade-in value received from your dealer.

Lessee: The person (you) who leases and uses the vehicle.

Lessor: The person (dealer) who leases the vehicle to the lessee.

Net Trade-In Allowance: The net trade-in allowance for your vehicle is the dealer trade-in amount less any amount owed on the vehicle you are trading in.

Payment Estimator: With this tool you can compare the option of leasing vs buying, see if the manufacturer is offering a special APR or rebate, enter a trade-in value and learn about other discounts available - all in order to estimate your monthly payment. The information is an estimate only; your dealer is the best source for accurate payments and pricing.

Tax and Title Charges: Additional fees that vary by state and are not included in the estimated buy or lease monthly payment using the Payment Estimator.

Term: A lease term is the number of scheduled months in your lease agreement. If you finance the purchase of your vehicle, the term represents the number of months you agree to pay off the contract with equal monthly installments.

Trade-In Value: The value you may be offered by a dealer when trading in your used vehicle.