Browse or search our knowledge base. We're here to help you.
APR stands for annual percentage rate. An APR includes the total yearly interest rate of a car loan, plus all the fees you'll be charged for acquiring and servicing the car loan. This may includ…...
A balloon payment involves paying a large sum to finalise a car loan at the end of a loan term. Lenders who use balloon payment schemes often offer low interest rates and shorter loan terms. ...
See 'APR' above. ...
A dealer demonstrator car, or a demo car, is a new car that is used by the dealership for display and test driving purposes. Sometimes, a demo car is used by dealership staff as an office car. A demo…...
The decline in value of a purchased vehicle. Once a vehicle is bought, it starts depreciating. Within the first year, a car can depreciate to up to 40% of its original value. Depreciation can lead to…...
An early payment penalty is a fee charged by a lender when a borrower pays off a loan before the end of its term. Lenders sometimes impose early repayment fees because they want to discourage prepaym…...
With car loans, being in negative equity means that the amount you owe your lender is more than the current value of your car. This usually happens when you take a long car loan for a vehicle that de…...
Resale value is the price of a previously used car. The resale value of a used car is always lower than its original price because of depreciation. ...
When you take out a secured car loan, an asset – typically the car you're financing – is used as collateral in the event that the borrower cannot pay off their loan. ...
Check out our support guides or email us.
Advertiser disclosure
At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff.
Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. Partners have no influence over our editorial staff.
For more information, please read our editorial policy and find out how we make money.
Finty members get
I don't want rewards
I want rewards
Disclaimer: You need to be logged in to claim Finty Rewards. If you proceed without logging in, you will not be able to claim Finty Rewards at a later time. In order for your rewards to be paid, you must submit your claim within 45 days. Please refer to our T&Cs for more information.