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Ads can be annoying. But ads are also how we keep the garage doors open and the lights on here at Autoblog - and keep our stories free for you and for everyone. And free is good, right? If you'd be so kind as to allow our site, we promise to keep bringing you great content. Thanks for that. And thanks for reading Autoblog. Tony Markovich. This is part of a series breaking down all the terms you need to know if you're buying a new or used car from a dealership.
Check out the rest of the series at our Car Buyer's Glossary. If you're financing the purchase of a car, there are three layers of payment: initial, long-term, and total. The initial payment is made at the dealership the day the car is bought.
The long-term payment is typically a monthly rate that can last several months, often years. The total cost is every dollar that is made toward the purchase of the car over time, including the initial, the monthly, and the interest. The initial payment is often known in the car-buying process as the drive-off price. Though the drive-off price is essentially paid all at once, it is composed of numerous costs.
What charges are within the drive-off cost? When financing the purchase of a car, the down payment is a large sum of money that goes toward the purchase price of the vehicle. In most cases, the bigger the up-front down payment, the lower the monthly payment and better financing options will be.
Beware of places that offer deals with no down payment, as this type of financing is typically meant to trap customers with extremely high monthly rates and high interest. He used to drive her to school once he came home from the Marines. The off-year special election into which Duke threw himself drew little media notice at first. Then with your victorious legions you can march south and help drive the Yankee invaders from the land.
Wordsworth has illustrated how an unwise and importunate demand for a reason from a child may drive him into invention. Give not up thy heart to sadness, but drive it from thee: and remember the latter end. A far-off volley rumbled over the plain, and a few birds stirred uneasily among the trees.
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