KEY TERMS DEFINITIONS TO GET US STARTED
invoice price is the amount the manufacturer charges the dealer for the car while the MSRP (manufacturer’s suggested retail price) is the price the manufacturer recommends the dealer sell it for INVOICE PRICE VS MSRP the manufacturer makes the cars and the dealership is authorized to sell the cars that are made MANUFACTURER VS DEALERSHIP an agreement by the manufacturer to repair or replace defective parts WARRANTY The only difference is the answers are provided rather than blanks
a financing agreement where people pay to drive the car for a set period of time LEASE
an initial up-front partial payment for the purchase of expensive items DOWN PAYMENT
loss of a car's value over time DEPRECIATION
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