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Spec Sheet
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The vehicle's specification sheet. This lists all information regarding a particular vehicle, including drivetrain, options, price, capacities, and other specifications.
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Curb Weight
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The weight of the vehicle when it is completely empty of passengers, fuel, and cargo.
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New Car Prep
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The work done by the dealership to prepare a vehicle for delivery. This can include removing plastic coverings, installing license plate brackets, setting the vehicle's computer, cleaning the vehicle, and adding fluids.
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Advertising Fee
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This a negotiable fee that will be charged on vehicle purchases, typically 1 - 2% of the invoice price. This fee reflects the cost to the dealership for advertising the vehicle.
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Hybrid
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This describes a vehicle which utilizes an electric motor in unison with an internal combustion engine to increase fuel efficiency and make for a more environmentally friendly automobile.
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Destination Charge
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This is a fee that is charged to the dealership by the manufacturer. Dealerships do not mark this fee up, as it is fixed. All dealerships are charged the same destination fees, regardless of location.
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Excess Mileage
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This is a lease term describing the amount of miles driven over the agreed-upon amount in a lease contract. Any excess mileage will be charged back to the consumer at per-mile price.
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Cap Cost Reduction
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This is a lease term that describes the amount of down payment due at signing, additional to any other fees. The larger the sum, the less your lease payments.
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Closed-End Lease
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This is a lease that states a vehicle's residual value. Basically, it states what the value of the vehicle will be at the end of the lease. If the vehicle turns out to be worth less than this value at the end of the lease, you will not owe an additional lump sum at the end of the term. Most leases are organized in this fashion.
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Collision Alert System
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This is a system installed into vehicles that alerts the driver if there is anything close to the vehicle via either blinking lights, a beeping noise, or both. It is designed to aid the driver in maneuvering in tight spaces.
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Disposition Fee
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This is basically the lease term for a Dealer Prep fee. It's the amount charged on a lease that covers the dealership's costs for preparing the vehicle for sale.
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Transmission
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This is part of your vehicle's drivetrain. It connects directly to the engine and converts the engine's power into torque to drive the vehicle's wheels. The majority of transmissions in automobiles come in automatic, manual, CVT, EVT, and Electric.
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Front Track/Rear Track
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This is referring to the axle track of a vehicle with front and rear drive axles. It is measured in inches, and the measurement takes place from centerline to centerline of the vehicle's tires, measured from the perspective of directly in front of or directly behind the vehicle for front or rear measurements, respectively.
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AWD
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This is the abbreviation for all-wheel drive vehicles. Unlike 4WD vehicles, which can usually switch back to 2WD, all-wheel drive vehicles utilize all four wheels as drive wheels 100% of the time.
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4WD
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This is the abbreviation for four-wheel drive vehicles. These either have full-time four-wheel drive engaged, or the option of having it engaged from rear-wheel drive.
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I4
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This is the abbreviation for the term Inline Four, which refers to an engine with four cylinders lined up in a row. Inline engines typically have one cylinder head.
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I6
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This is the abbreviation for the term Inline Six, which refers to an engine with six cylinders lined up in a row. Inline engines typically have one cylinder head.
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EGR
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This is the acronym for Exhaust Gas Recirculation. This is just one part of the emissions system of your vehicle. It re-circulates exhaust gas back through the engine's cylinders to be re-burned, enhancing the efficiency of your fuel.
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Commission
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This is the amount of money the salesperson receives from the sale of a vehicle. Most automotive salespeople are paid strictly on commission.
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Default Charge
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This is the amount of penalty fee if a late lease payment is made.
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