Car Buying Terms Review

: When you owe more on your loan than the car is actually worth. This often happens with long-term loans or small down payments.

: An optional plan you buy to cover repairs after the factory warranty expires. These are often negotiable or can be bought elsewhere for less. car buying terms

: The total yearly cost of your loan, including interest and fees. A lower APR means you pay less over time. : When you owe more on your loan