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Used Car Dictionary

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<html> <head> <title>Used Car Dictionary</title> </head> <body> <h1>Used Car Dictionary</h1> <div class="info">Author: <a href="author_1_78597.html">Bruce Gow</a></div><div class="body">Used car dictionary and automobile glossary from Sydney Australia. For a more in depth glossary, go to http://www.used-car.com.au/automotiveglossary/carglossarya.html AA Automobile Association U.K. motoring and travel organisation AANT Automobile Association Northern Territory AARA The American Auto Racing Association, located in Spokane, Washington. A-Bracket Suspension link, shaped in plan view like the letter A. Abbreviated Injury Scale Method of ranking injury severity in road accidents using a scale of 1 to 6. ABS Abbreviation for Anti-Lock Braking System. Absolute Title A document that states a person or a legal entity has the right of ownership. AC Abbreviation for Alternating Current or Airconditioning. Acceleration Measure of the rate at which speed increases. Accelerator Pedal Foot-operated control of engine speed. Accelerator Pump Small carburettor pump to squirt extra fuel into the mixing chamber when accelerating. Accelerometer Instrument for measuring acceleration rate. Accident An unforeseen and unintended event or occurrence. Accumulator Removes moisture from the liquid refrigerant in an air-conditioning system. Ackermann Principle Standard automotive steering principle whereby the inside wheel automatically turns an appropriately tighter circle than the outside wheel when taking a bend. Acoustic Induction Control Engine air intake system using a valve that intermittently closes or restricts the flow of air to the cylinders, improving engine performance at some engine speeds. Acoustic Parking Aid Parking warning system that emits beeps when the car is reversing, advising when the car gets too close to an obstruction. Acquisition Fee A fee charged by the leasing company to buy the vehicle for the lessee and set up the lease. Also called the initiation fee, this typically runs about $450. Acrylic Paint Plastic based automotive lacquer or enamel, used for automotive touch-up and respraying. Act of God Any accident or event that is not by human hand and can not be prevented. Usually a natural cause. Activated Charcoal Filter Device containing charcoal to absorb odours and some pollutants. Active Body Control Regulated suspension system using hydraulic and sensors to change the springing to suit the immediate situation. Active Damper Control System to computer-control the shock absorber damping forces so each wheel varies its response according to the conditions. Active Head Restraint One designed that minimises whiplash injury during a rear-end collision. Active Restraint Seat belt or other safety device that becomes operational when the driver or passenger has taken an appropriate action. Active Safety Those vehicle qualities that help a driver avoid a potential accident, such as braking, steering and cornering stability. Active Suspension System in which electronic sensors work with hydraulic or another external forces to counteract adverse suspension movements. Active Torque Split System in which the transmission distributes engine torque in controlled proportions between all wheels, varying the proportion front and rear to suit the conditions. Actual Cash Value (ACV) Replacement cost of property lost. If your vehicle were stolen, totaled in an accident, or otherwise rendered a loss, the Actual Cash Value is equal to the cost for a similar vehicle at current market prices. Actuator A device that performs a mechanical action in response to an input signal, which may be electrical or fluidic. Adaptive Airbag Two-stage airbag that can inflates in two stages. It is partly filled in a low-speed collision and becomes fully inflated above about 35 km/h. Adaptive Cruise Control Device that enables the car's speed to automatically vary depending on the vehicle in front, using radar, cruise control sensors and, possibly, an external traffic control centre. Adaptive Transmission Device that evaluates various driving techniques to determine the optimum change points for an auto transmission. Additional Insured A person or company, other than the person named on the account who is protected against damage or loss. Additional Insured/Loss Payee Since the lessor owns the leased vehicle, the lessee is required to name the lessor "additional insured" in his insurance liability-coverage policy and as the "loss payee" in his collision and comprehensive policy. Adiathermal Glass Heat-absorbing window pane containing ferric oxide mixed with basic silica to reduce the amount of the sun's rays reaching the interior. Adjustable Seat Belt Shoulder Height Mechanism in the b-pillar that permits the upper seat belt anchor's height to be raised or lowered. Adjustable shock absorber One that can be manually or electronically adjusted to change the dampening qualities. Adjusted Capitalized Cost The basis for the basic monthly payment. Adjuster The person working with the insurance agency who determines the amount of damage, loss, and liability. ADRS Australian motor vehicle design rules. Advance And Retard Mechanism Distributor system to optimise the ignition spark timing to suit several factors including the load and engine speed. ADRA American Drag Racing Association, located in Spokane, Washington. Advertised Price, Average The average listed price for a given year, make and model combination, among the cars currently listed on AutoTrader.com. Advertised Price, Lowest The lowest listed price for a given year, make and model combination, among the cars currently listed on AutoTrader.com. Advertised Price, Highest The highest listed price for a given year, make and model combination, among the cars currently listed on AutoTrader.com. Aerobody Kit Panels to enhance the body's aerodynamic efficiency. Aerodynamics The wind resistance of a vehicle's design elements. Aerodynamic vehicles claim to offer increased performance and reduced wind noise while moving. More simply - the science of reducing wind drag. See Coefficient of Drag. Aerofoil Same as airfoil. A-Frame Chassis frame shaped like the letter a; also a triangulated tow bar attached to the front of a towed vehicle. Afterburner Exhaust manifold that burns hydrocarbons and carbon monoxide in the exhaust gases. Aftercooling Cooling of compressed gas after the compression stage to increase its density. Also that part of the shutdown procedure in some turbocharged engines to minimise bearing wear. After-market Component, equipment or service added after a vehicle has left the assembly plant. After top dead centre That moment after the piston has passed the top of its travel in the cylinder and starts on the down stroke. Agent A representative of the insurance agency, licensed by the state, who solicits, negotiates, and countersigns the contract. Also provides service to the policyholder for the insurance agency. AHRA American Hot Rod Association Air Australian colloquialism for airconditioning. Airbag Fabric bag that automatically inflates in the event of a collision to cushion an occupant. Also a component in a pneumatic suspension unit using compressed air as the main spring. Airbag Curtain Airbag that extends the full length of the passenger compartment and deploys in the event of a side impact or rollover. Airbag Cut-Off System that automatically deactivates the passenger side airbag and seat belt pretensioner should a child-restraint system be on the front seat. Airbag Deployment Strategy Electronic arrangement to automatically turn off the engine and/or fuel pump and unlock the doors when the airbag sensor is triggered. Airbox Scoop in the bodywork to channel relatively cool air to the engine's induction system. Air Brake Brakes, usually on heavy-duty trucks, that use compressed air to operate. Air cleaner Same as air filter. Airconditioning Correctly, a reference to the car's total heating and cooling system, though widely used to indicate refrigerated cooling only. Aircooled engine One using fresh air blown over cooling fins on the cylinder block and cylinder heads to keep temperatures at the required level. Airdam Body panel fitted beneath the front bumper to reduce air drag and aerodynamic lift. Airdam skirt Panel under the front bumper to reduce any tendency for the car's front to lift at speed. Air deflector Large wing mounted on a roof or cab top to deflect air over a trailer, reducing wind drag. Air filter One that removes dust and insects from air entering the engine. Airflow meter Device for measuring gas flow, used to ensure accurate control of the air-fuel ratio. Airflow sensor That part of fuel-injection system that measures airflow. Airfoil Wing-like structure above the body that deflects the airstream downwards to help keep the wheels firmly on the ground. Air Horn Audible warning device operated by compressed air or exhaust gas. Also the air inlet to a carburettor. Air Induction Method of injecting additional air into the combustion chamber via a bypass, thus creating additional turbulence. Air Injection Device in which fresh air is injected at low-pressure into the exhaust system to assist in burning exhaust gases more completely. Air Inlet Valve Movable flap in a plenum chamber to vary the ratio of fresh air and recirculated air entering the ventilation system. Airpump Device for inflating tyres or providing compressed air. Also one that injects air into the exhaust manifold to help complete the combustion of exhaust gases. Air Resistance Wind drag. Air Scoop Shaped section of the body to channel air to a particular component. Air Shock Absorber One using compressed air as a damping medium. Air Spoiler Curved lip that deflects the airstream, increasing downward pressure on the car's rear. Air Spring One that relies on compressed air to absorb the energy of an impact. Air Switching Valve Device within an air-fuel mixing system to prevent the catalyst temperature rising excessively. Air-To-Air Intercooler One that uses air as the cooling medium, instead of water. Air valve One-way valve that admits air to a pneumatic tyre. Also a carburettor valve that allows a controlled quantity of additional air into the fuel mixture. Airbag Lockout Switch A device allowing the driver to turn off the front passenger airbag. Airbag Safety device using an inflatable cushion that inflates and deflates within a fraction of a second to protect a vehicle occupant. Alignment The proper adjustment of the car's suspension. Correct setting of one or more adjustable components. Generally refers to the wheel alignment. Aligning Torque Force that tends to make a tyre return to the straight-ahead position after being angled. Allen Key One made from hexagonal section steel to tighten or loosen bolts or set screws, made with a corresponding socket in their heads. All-Indirect Gearbox Transmission in which all ratios between the input and output shafts are transmitted by gears. All-Wheel Drive Vehicle transmission system in which four or more wheels are constantly under power. Alloy Wheel Road wheel made from light metal. All-Terrain Vehicle One designed for use on land, swamps and water. All-Weather Tyre One with treads providing grip in mud, rain and slush. All-Risks Policy A policy covering all losses except those specifically excluded in the contract. All-Season Tyres Tyres designed to provide good traction in winter snow and slush without wearing too quickly on dry roads. All-Terrain Vehicle (ATV) A small, lightweight vehicle designed for recreational off-highway use. All-Wheel Drive (AWD) A vehicle drivetrain with all wheels powered by the engine at all times. Sometimes called full-time four-wheel drive. Alloy Wheels Any non-steel road wheel. Mostly aluminum, but technically a mixture of two or more metals. Alternative Fuels May be alcohol-based, such as ethanol or methanol; compressed natural gas; or combinations of gasoline and alcohol. Alternator Produces alternating current and recharges the battery. Engine-driven generator that supplies current and charges the battery. Altimeter Gauge showing the height above sea level. AM/FM/MPX Radio Unit combining an am radio and fm radio with a multiplex filter. Ammeter Gauge showing the flow of electric current. Ampere Unit of measurement for the flow of current. Amphometer Speed-detecting device using tubes across a road at a measured distance apart. Amp-hour capacity The rating of a storage battery. Amortization The gradual reduction of a debt by periodic payments large enough to meet current interest payments and repay the principal. Amount Financed The portion of the purchase price that is actually financed. In addition to the cost of the car, it can include the costs of an extended warranty, credit life insurance, and other items rolled into the payments. AMS Atlanta Motor Speedway. Anaerobic Compound Chemical compound (such as loctite) that sets hard in the absence of air. Aneroid tube Thermo-mechanical, temperature/pressure device to regulate fuel entering a fuel-injection system. Ancap Test Australian new car assessment program, being a comparative vehicle safety check to provide comparative crash protection standards, supervised by organisations such as the nrma. Anechoic Chamber Echo-free chamber used in noise-suppression work. Angle of Approach/Departure Greatest grade angle that a vehicle can approach or run off without grounding the chassis or body ahead of the front wheels or behind the rear wheels. Angular Velocity Speed of a rotating body expressed as the angle (in degrees or radians) through which a datum point passes in one second. Annealing Process of heating and slowly cooling to soften a metal object and reducing internal stresses. Annular Gear Toothed wheel with teeth on the inner surface, as in an epicyclic gear. Anode Positive pole in an electric circuit. Anodizing Method of chemically treating the surface of an aluminium alloy component to provide a decorative and/or corrosion-resistant finish. Anti-Burst Lock Door lock that remains closed during a collision. Anti-dive Characteristic of a suspension system in which special geometry helps reduce the tendency of the nose to dip under braking. Antifreeze Additive to lower the temperature at which the radiator coolant freezes. Anti-Foam Agent Additive that reduces the tendency of a lubricant to foam. Anti-Knock Compound Additive to help reduce engine knocking. Anti-Knock Rating Resistance of a fuel mixture to knocking when burned in the combustion chamber. It is known as octane rating for petrol and cetane rating for diesel fuel. Anti-Lift Geometry Suspension system arranged to reduce the tendency of a car's rear to rise during braking. Anti-Lock Braking System One incorporating electronic or other means of preventing any wheel from ceasing to rotate (and sliding) under heavy braking. Anti-Roll Bar U-shaped device with one end connected to each end of the suspension. It twists when one wheel is higher than the other, acting as a torsion spring, thus helping to combat the body roll action. Anti-Skid Brakes Same as anti-lock braking. Anti-Squat Characteristic of a suspension system to reduce or eliminate the tail's tendency to dip under acceleration. Anti-Submarine Ramp Safety mechanism to reduce the risk of a passenger sliding under the seat belt during rapid stopping. Anti-Tramp Bar Additional method of locating a live axle to prevent axle tramp during hard acceleration. Annual Percentage Rate (APR) The average compound interest rate over the life of the loan. A yearly rate of interest that includes fees and costs paid to acquire a loan. Lenders are required by law to disclose the annual percentage rate, which is used to compare various loans; it makes simple interest and compound interest loans comparable with each other. Anti-Lock Brake System (ABS) A computer-controlled braking system that senses impending wheel lockup and pulses the brakes many times a second to prevent it. This results in the most important benefit of ABS: by preventing wheel lockup, it allows the driver to maintain steering control. Unfortunately, too few drivers are trained to use ABS properly. When the system engages, it may vibrate the brake pedal. A driver who doesn't know how to use ABS may lift his foot from the pedal when he receives this feedback, effectively disengaging the system Anti-Roll Bar A suspension component. A steel rod or tube that connects the left and right suspension members to resist roll or swaying of the vehicle. Improves handling. Antifreeze A liquid that mixes with the water in a cooling system of a vehicle's engine. Antifreeze keeps the water from freezing in the winter or cold climates, or from overheating in the summer or hot climates. A-Pillar Vertical roof support between the windshield and front edge of the front side window. Forward pillar to which the windscreen is attached, running from the body and supporting the roof. Application An initial statement of personal and financial information which is required to approve your loan. Applique Decorative metal or plastic panel. Appraisal An opinion of the market value of an asset as of a specific date. Apron Panel under the radiator grille to reduce air resistance and hide the front suspension components. Aquaplaning Phenomenon in which a film of water becomes trapped between a tyre tread and road surface, causing the tyre to lock-up and slide instead of revolving. ARCA Automobile Racing Club of America, the little brother to the Winston Cup racing (ARCA is two levels below). ARCA sports similar cars with shorter races and small pay-outs. Armature Centre core of an electric component such as a starter motor or generator. Armco Trade name for a metal guardrail used on highways and at race circuits to prevent vehicles leaving the road when control is lost. ASC Anti skid control device. ASCD Automatic speed control device, also known as cruise control. Aspect Ratio The ratio between the width and sidewall (or height) of the tyre. Tyres with lower aspect ratios, usually found on sports models, provide superior handling but a harsher ride. The ratio between the height of a tyre and the width of its carcass, expressed as a percentage. AS 2077 Testing procedure devised by the Australian Standards Association to measure fuel consumption. Aspirated engine One that draws in fuel mixture at normal atmospheric pressure, as distinct from turbocharged or supercharged designs. Assigned Risk Plan A risk that must be insured by state law or otherwise. Asymmetric carcass Tyre in which the carcass is not uniform in cross-section. Asymmetric Headlamps Pair of headlamps in which one light beam shines at a different angle to the other. One beam illuminates the kerbside, the other the road ahead. Asymmetric tread Tyre tread with a pattern that is not uniform across the tyre's width. Atkinson Cycle Internal combustion cycle that enables the compression stroke and expansion strokes to be mechanically independent of each other. Atmospheric Engine One in which normal atmospheric pressure draws in the fuel mixture, as distinct from forced induction using a supercharger or turbocharger. Atomisation The breaking of fuel, paint or water into a mist of particles. ATV Abbreviation for all-terrain vehicle. Australian Design Rules Safety and other regulations for new vehicles formed by a government-sponsored advisory committee. Popularly known as ADRS. Auto-Adjusting Suspension Computerised system in which the shock absorber settings automatically vary to suit the road and driving conditions. Auto dipping rear view mirror Light-sensitive mirror that automatically dips to reduce glare when required. Autothermic piston Aluminium piston with a steel strut fitted to the piston-pin boss to limit thermal expansion in a direction perpendicular to the pin, when hot. Auto-Ignition Engine condition in which the incoming fuel-air mixture is ignited before the spark plugs fire, usually caused by hot fragments of carbon. Auto-Ignition Temperature That at which fuel in contact with air ignites and burns. Auto Lash Adjuster Type of hydraulic adjuster for maintaining the correct clearance between the rocker arm, camshaft and valve stem. Auto Lighting Control System that detects the natural light level and automatically activates the headlamps and tail lamps. Auto-Manual Transmission Dual operation transmission that operates fully automatically but also allows the driver to shift gears manually. Automatic Clutch One that automatically engages or disengages when the driver touches the gearlever knob. Automatic Freewheeling Hub Four-wheel drive feature in which the wheel hubs automatically freewheel in 2wd mode and engage when the control lever is moved to 4wd. Automatic Level Control Device that maintains the car at a predetermined height and attitude, regardless of load. Automatic Speed Control Device Same as cruise control. Automatic Transmission One in which the speed of the output shaft varies automatically, to provide the most appropriate gear ratio for the road speed and engine load. Auto Reflex Mirror Interior rear view mirror that automatically changes reflectivity when activated by strong light from behind. Auto Rain-Sensitive Windscreen Wipers Same as rain-sensitive windscreen wipers. Autothermic piston Alloy piston with a steel insert in the piston-pin boss to limit thermal expansion of the hot piston. Autronic eye Electronic mechanism to automatically select high or low headlamp beam for the conditions. Auto Mall Several Dealership operations located on one site. Automatic Locking Retractor Standard on 1995 and later models, this device is built into the shoulder belt retractor and keeps the belt cinched tightly, which is essential for properly securing a child-safety seat. Automatic Temperature Control (ATC) Automatically controls a vehicle's heating and cooling systems, maintaining a temperature preset by the occupant. Automatic Transmission A system that varies the power and torque to a drivetrain without the use of a foot-operated clutch. AWD Abbreviation for all-wheel drive. Axial Flow Design feature of a turbine or pump that permits fluid or air to pass in a direction parallel to its axis. Axle Shaft on which a wheel, bearing or gear is mounted. A rotating metal shaft connected to the wheels on either side of the vehicle. Axle Casing Outer casing of the axle that houses the crown wheel, pinion and half shafts. Axle Location Manner in which a live axle is positioned and its movements restricted. Axle Ratio That between the speed of the propeller shaft and the speed of the shafts driving the wheels. Axle Shaft Drive shaft going from a differential to a road wheel. Axle Tramp Violent shudder of the driven wheels when accelerating. Axle Wind-Up Same as axle tramp. B-pillar Vertical metal roof support between front and rear side windows on the side of the vehicle. Balance Due The amount currently due, minus previous payments, plus cash advances and purchases. Bank Rate The amount the bank charges the consumer, expressed as a percentage. Base-Coat A coat of paint acting as the base for other layers to be applied. Base Price The price of a vehicle without options but including standard equipment, factory warranty, and freight or destination charge. This price is printed on the Monroney sticker. Basic Rate The rate from which discounts or additions are calculated. Beater (Slang) A car for everyday transportation. Usually not in perfect condition. Beltline A horizontal line, usually imaginary but sometimes indicated by a feature in the body design, just below the window openings on a car or truck body. Bench Seats Full-length seat that can usually seat two or three people. Blanket Insurance A property-liability insurance that covers more than one piece of property. Bodily Injury Liability Any liability that may result from the injury or death of another person. Body Style The type of exterior shell or shape to a vehicle (sedan, coupe, truck, etc.). Booster Seat This child-safety seat is designed for children who are too large for a baby seat, but not big enough to sit safely in the vehicle's seats. Bore Diameter of an individual engine cylinder. Borg Warner Trophy Victory in the Indianapolis 500 secures this, the most coveted trophy in Indy Car racing. Boxer Engine The cylinders are opposite (180 degrees apart) from each other. Also called flat engines, these are relatively flat compared to In-line or V engines. Brake Booster Device or system that helps reduce the force the driver must exert against the brake pedal. May be hydraulic or electric. Brake Caliper A hydraulic (liquid-pressured) piston assembly that holds disc-brake pads. Brake Drum The large circular surface that the brake shoe presses against to stop the vehicle. Brake Pad Used in a disc system, it is a replaceable piece of backing plate and additional friction lining. Brake Pull Occurs when the vehicle pulls suddenly to the left or right as the brake pedal is depressed. It indicates the brakes may be out of adjustment. Brake Rotor Shiny metal disk that brake pads squeeze to stop the vehicle; hence the name disc brakes. Brake Shoe A curved, replaceable piece of friction material used on drum brakes. The wheel cylinder pushes the brake shoes against the brake drum. Broker A person who represents the insured to solicit or negotiate for contracts. A broker may deal with many agents or companies on behalf of his or her client. Bucket Seats Individual driver or passenger seats. Bumper-to-bumper A type of warranty that covers the entyre vehicle for a limited amount of time. Busch Series Just one level below Winston Cup, some drivers race at both this and Winston Cup level. These races, often run the day before a Winston Cup race, have gained popularity and are now all televised live, nationally. C-pillar The vertical metal roof support between the side edge of the rear windshield (also called the backlight) and the rear edge of the rear window. CAM The Championship Association of Mechanics, established in 1989, is a non-profit organization that serves the needs of Indy Car crew members. It also acts to publicize their efforts. Camber Inward or outward tilt of the wheels and tyres. This adjustment affects how the vehicle holds the road and handles cornering. Camshaft A machined shaft with lobes that open and close engine-cylinder intake and exhaust valves. As the shaft rotates, the lobes push against valve springs to open the valves and rotate away to close them. Driven by the crankshaft. Capitalized Cost In a lease transaction, the price at which a financial institution buys a vehicle from a dealer. Equivalent to the cash purchase price if the consumer were buying the vehicle outright, it includes taxes and any other additional charges. Also called Capital Cost. Capitalized Cost Reduction In a lease transaction, an up-front payment made at the start of the lease. The lessee can use cash, a rebate or a trade-in. Similar but not equal to a down payment. The lessee must pay sales tax on the cap-cost reduction amount. Also called Capital-Cost Reduction. Captive Finance Company A financial institution owned by a manufacturer. Examples include Chrysler Credit, Ford Motor Credit and GMAC. Carburetor Device that mixes air with fuel, delivering the mixture into the engine's combustion chambers. Only found on older vehicles. By the mid-1980s, new emissions standards led to the use of fuel-injection systems, which do not require frequent adjustment. Carrier The insurance company that provides the insurance. Casualty Insurance Insurance covering the insured's legal liability for damage to other person's property or injuries to them. Other forms of insurance, such as burglary, robbery and worker's compensation, belong in this category. Catalytic Converter An emissions-control device that removes unburned fuel from the exhaust by burning it. Catastrophe Hazard The risk of loss by a peril to which a large number of insured are subject. Typical examples are hurricanes and tornadoes. Center High-Mounted Stop Light (CHMSL) NHTSA-required brake light mounted higher than the taillights, at the top center or bottom center of the rear windshield. Center of Gravity The point of the car where, if it is suspended, it would balance front and rear. Center-Locking Differential On all-wheel drive vehicles, a third differential in addition to those for the front and rear axles. This third differential allows the front and rear wheels to turn at different speeds as needed for cornering on dry pavement. On slippery surfaces, it locks all four wheels together, either automatically or manually depending on the system, for greater traction. Central Locking System On a vehicle with power door locks, the system locks or unlocks all doors at one time. Chlorofluorocarbons (CFCs) Chemicals formerly used as refrigerants in cooling systems. No longer used because they are considered harmful to the Earth's ozone layer. Christmas Tree The pole of lights that starts a drag race, named for its red and green lights. Most drag races use the pro or heads up start which has three lights in between the first (red) and last (green) stage. Claim Request for payment of a loss as covered under the terms of an insurance contract. Clause The term used to identify a certain section of the contract or policy. Clearcoat The transparent top coat of paint on many newer vehicles; designed to create a long-lasting, lustrous appearance. Climate-Control System The non-technical term for the heating, ventilation and air-conditioning system (HVAC). Most current vehicles have all three - heating, defrost, and AC. Closed-End Lease In a lease contract, specifies the vehicle's residual value at the end of the lease term. The lessee is not responsible for the value of the vehicle at term end, but he may face charges for excess wear-and-tear and excessive mileage. Also called a walk-away lease. Closing Costs Any expenses added onto the lease that are incidental to the purchase. (For example, title fees and appraisal fees.) Clutch Device that connects or disconnects the engine from the transmission. Clutch Disk Presses against the the transmission flywheel to transfer power from the engine to the transmission. CMS Charlotte Motor Speedway, home of the World 600 Winston Cup Race, now known as the Coca-Cola 600. This is a NASCAR event, also held on Memorial Day. Coefficient of Drag (Cd) A measure of the aerodynamic resistance of the vehicle body. The smaller the number, the more wind-cheating the body design and the greater likelihood that passengers won't have to endure wind noises. Coil Spring A suspension component made up of spiral-wound hardened steel, used to isolate a vehicle from the up-and-down movement of the wheels on the road. Collateral Assets owned by the borrower which document his or her ability to repay the loan. Listed assets may be seized by the lending institution if the loan is unpaid. Collision Coverage Optional insurance that pays for damage to your car caused by collision with another car or object. Collusion The cooperation between two or more people to secretly defraud another person or company. Combustion Chamber Top section of the engine cylinder, where the air-fuel mixture is ignited by a spark plug. The explosion of the combustion pushes the piston down into the cylinder, producing the force that the transmission delivers to the drive wheels. Common Law Liability The responsibility of injury or loss imposed upon a person because of his or her actions. Compact A small car that can seat two to four people. Compound Interest Interest computed on the sum of an original principal and accrued interest. Comprehensive Coverage Optional insurance that pays for damage to your car caused by things other than collision. For example, if your car is stolen or vandalized. Compression Ratio The ratio of the volume within an engine cylinder when the piston is at the bottom of its stroke, compared to the volume in the cylinder when the piston is at the top of its stroke. The higher the ratio, the more compression during combustion and the more powerful the engine. Compulsory Insurance Any type of insurance that is required by law. Concealment The withholding of facts by an applicant on an insurance application. Console This may refer to the unit found between the front driver and passenger seat that contains the automatic transmission shifter, cupholders and a storage compartment. But it can also refer to the section of the instrument panel that includes the controls for the sound system and climate-control system, particularly if the panel flows down the center of the vehicle and includes the automatic-transmission shifter. Constant-Velocity Joint (CV Joint) On front-wheel drive and all-wheel drive vehicles, a coupling that allows the front axle to turn at a constant speed at various angles when the vehicle turns. The CV joint is a shaft that transmits engine power from the transmission to the wheel. Contribution by Equal Shares Provision in insurance contracts which requires each company to share equally in the loss until the share of each equals the lowest limit of liability under any policy or the full amount of loss is paid. Conversion The wrongful use of a property by the person who owns it. Convertible Any car with a removable top, either a rag (cloth) top or hard top. Coolant Liquid used to carry heat away from the engine. Sometimes called antifreeze. Corporate Average Fuel Economy (CAFE) The government tracks the average fuel economy of all the vehicles produced in a single model-year by each individual manufacturer. CAFE is that rating. Coupe Generally, a two-door car with close-coupled passenger compartment. Coupe de Ville A coupe with an enclosed, rear passenger section and an open driver's section. Craftsman Truck Series These NASCAR Trucks are similar to a Winston Cup race car, under the skin. The body must be stock and its shape is monitored by NASCAR officials. This new series of races has been called one of the most exciting in motorsports. Crankshaft The shaft that converts the up-and-down motion of the pistons into rotation. It is connected to the transmission. Credit Worthy A consumer who will qualify for a vehicle loan. Same as a qualified buyer. Cruise Control A device that, when set by the driver, will hold the car at the chosen speed. Crumple Zone Portions of a vehicle's structure designed to buckle and fold in an impact, absorbing crash force rather than transmitting it to vehicle occupants. Curb Weight The weight of the vehicle without passengers, driver or cargo, but with all standard features, a full tank of fuel, and all the fluids necessary for proper function. Cylinder Block The main part of the engine to which other parts are attached. Cylinder Head At the top of the engine block is the cylinder head which contains intake and exhaust valves. Air and fuel enter the cylinder head through the intake valves and spent leftovers are released after combustion through the exhaust valves. Damper A device which reduces vibration. Daytime Running Lights (DRL) These lights come on whenever the vehicle is turned on; they make the vehicle more visible to other drivers. Mandatory in Canada and standard equipment on many vehicles sold in the United States. Dealer Charges Any extra charges for additional services or products sold by the dealer such as rust-proofing or extended warranties. Dealer Holdback Also known as "pack." Manufacturer refund to a dealer after a vehicle is sold. Usually a percentage (2 to 3%) of the MSRP. Dealer Incentive A limited time discount offered by the manufacturer to a dealership. Dealer Incentives A cash refund or attractive lease or loan rate offered by an automotive manufacturer toward the sale/purchase of a new vehicle. Dealer Invoice Price Also called dealer cost. The amount the dealer pays for a car or truck. Deducted from this price may be a dealer incentive, which is a set discount offered for a limited period of time, or a dealer holdback, which is a percentage of the vehicle's wholesale price. Dealer Preparation Fee Extra charges for getting the car ready. Dealer Sticker Price The base price, or the price on the Monroney sticker, plus the suggested retail price of dealer-installed options, dealer preparation, and add-ons such as undercoating. Deductible The amount of money or percentage of expenses that will be covered by the insured. Default Charges Fees charged the lessee as a result of missing payments or otherwise defaulting on the lease. Typical charges include all remaining payments and any additional costs incurred in reclaiming the vehicle. The security deposit may also be lost. Deposit A sum of money to hold a deal until the paperwork is complete. If the deal is closed, the deposit is applied to the down payment. Depreciation The decrease in a vehicle's market value over time. The amount of yearly depreciation is affected by vehicle condition; resale-marketplace supply and demand; and make and model reputation. Convertibles, high-performance cars, trucks and vans tend to depreciate less than other vehicles. Destination & Delivery Charges The cost of transporting the vehicle from the assembly plant to the dealership. Usually a flat fee passed on to the buyer without any markup. Diesel An internal combustion engine in which the air-fuel mixture is ignited by compression in the cylinder rather than by a spark. Diesel engines use diesel fuel rather than gasoline and tend to be more fuel-efficient and require less maintenance than gasoline engines, but it is more complicated to get them to run cleanly. Also used as a slang term: after turning off the ignition, the engine continues to run for a short period. Diesel fuel The fuel used by a diesel engine. Usually found in tractor trailers and other trucks. Differential A mechanical gearbox or fluid coupling that allows wheels to rotate at different speeds. Usually located on an axle, it allows the outside wheels to turn faster than the inside wheels during cornering. Four-wheel-drive and all-wheel drive vehicles have two differentials, one for the rear axle and one for the front. all-wheel drive vehicles also may have a third or center differential on the drive shaft that runs between the front and rear axles. Ding A small dent or scrape in the body of the vehicle. Direct Financing Arranging the loan directly through a bank or credit union rather than through the dealer. Direct Loss Damage or loss directly due to a particular event or peril. Disc Brakes Shiny metal discs, called brake rotors, are attached to the wheel hub, rotating with the wheel. When the brake pedal is depressed, the brake calipers squeeze the discs to slow the vehicle. See Brake Caliper and Brake Rotor. Displacement The volume displaced by an engine's cylinders. Formerly measured in cubic inches, it is now more commonly expressed in liters. Disposal Fee Also called Disposition Fees. Charge for costs associated with picking up and processing the returned car at the end of the lease. This runs from $200 to $400. Sometimes rolled into monthly payments. Often absorbed by dealers when another vehicle is leased. Distributor Part of the ignition (electrical) system. Delivers electricity from the ignition coil to the distributor cap and the spark plug wires in the correct firing order. (The firing order is that sequence in which each cylinder begins its power stroke.) The spark plugs ignite the fuel and air mixture in each cylinder thousands of times a minute, producing the explosion that pushes the piston down in the cylinder to power the vehicle. Double Wishbone Suspension A type of independent suspension in which the upper and lower support pieces, or members, look somewhat like a wishbone. Down Payment The up-front cash payment that the buyer makes to reduce the amount borrowed to purchase a car; the difference between the loan amount and the purchase price. A trade-in allowance and/or rebate also may be used as down payment. The down payment helps protect the bank, credit union or finance company in case the borrower defaults on the loan. A typical down payment is about 20 percent of the vehicle's sale price. Drafting A phenomena where two cars running nose to tail together can move faster than an individual vehicle. Drive Axle Connects the transaxle to the front wheels on a front-wheel drive vehicle. Drive Range (EV) The distance an electric vehicle can drive without re-charging its batteries. Drive Shaft A rotating metal shaft that transfers power from the transmission differential gear assembly to the rear wheels on a rear-wheel drive vehicle. Drive Wheels The wheels, front, rear, or both, to which the engine transmits its power. Drivetrain Vehicle components which act together to move the vehicle forward or backward. On a rear-drive vehicle, it is the combination of the engine, transmission, differential and drive shaft. On a front-drive vehicle, it consists of the engine, transaxle and drive axles. Drum Brakes A braking system that uses a metal drum. Brake shoes press against the drum to slow or stop the car. Dual Overhead Cam (DOHC) Engine with two camshafts on top of the cylinder head, one to open and close intake valves, the other to open and close exhaust valves. See also Overhead Cam and Overhead Valve. Early Termination Ending the lease before the contracted time. May be involuntary, due to theft or accident. Early Termination Charge Additional fee charged when a lease is ended before the agreed-upon term. Often represents a substantial penalty. Earned Premium The portion of the premium which is already paid from an expired policy term. Electric Vehicles (EV) Vehicles powered by electricity, generally using a rechargeable battery. Electronic Control Module (ECM) The computer that controls the engine's fuel and emissions systems. Among the devices it controls is the idle air control, or IAC, which regulates the idle speed in fuel-injected engines. Also called the Electronic Control Unit (ECU). Electronic Fuel Injection System Injects fuel into the engine's cylinders with electronic control to time and meter the fuel flow. Electronic Valve Timing (EVT) System in which a computer controls the timing of the opening and closing of cylinder valves. End of Lease Payment In an open-end lease, the amount the lessee pays at the end of the lease; the difference between the vehicle's residual value, which was used to calculate lease payments, and the actual market value. Engine Displacement The total of the volume used for combustion inside the cylinders of an engine. Measured in liters on newer models, or in cubic inches on older models. Environmental Protection Agency (EPA) The federal agency that regulates air quality and sets automotive fuel-economy and emissions standards. Equity The value left in a used vehicle after subtracting the outstanding loan balance from its market value. For example, if $4,000 is still owed on a car worth $8,000 on the open market, then it has an equity of $4,000. Escrow A process in which a neutral third party takes care of the transfer of ownership of the vehicle. Evaporative Emissions Evaporated fuel from the carburetor or fuel system which mixes with the surrounding outside air. Evaporator Core Part of the climate-control system that contains a liquid refrigerant which turns to gas to absorb heat from the air. Excess Mileage Any mileage over the amount agreed upon within the lease. Generally incurs a per-mileage charge at the end of the lease. Experts recommend a yearly mileage limit, or Mileage Cap, that exceeds normal driving needs. Excess Mileage Charge Additional charge at the end of the lease for every mile on the odometer over the limit stated in the lease. A typical charge is 15 cents per mile, but the fees can be from 10 cents to 25 cents a mile. It costs less to figure your expected mileage use (or mileage allowance) realistically and prepay than to pay for excess mileage at lease end. Excess Wear and Tear Visible damage to a vehicle that is above and beyond what is considered normal wear and tear. Usually specified in the lease contract. Will incur additional cost at lease-end. If possible, negotiate as specifically as you can in the lease what the lessor will consider excess wear and tear. Exclusion Any cause, condition, or property which are not covered by the policy. Exhaust Gas Recirculation (EGR) Part of the emissions system, it recirculates exhaust gases into the intake manifold, cooling the combustion chamber. Exhaust Manifold The passages that route the exhaust gases towards the muffler and exhaust system. Extended Coverage A policy that covers any extras that are not in the original policy. Factory Equipment The standard and options that make up the equipment of a used vehicle. Fan Belt Transmits power from a crankshaft-driven pulley to an engine fan and other accessories. FIA Federation Internationale De L'Automobile Fifth Wheel Provides a flexible connection between the tractor and the trailer. Final Drive Ratio The reduction ratio of the transmission gear set furthest from the engine. In other words, the ratio of the number of rotations of the drive shaft for one rotation of a wheel. In general, a low final drive ratio results in better fuel efficiency, and higher final drive ratio results in better performance. Firewall The metal panel that separates the engine compartment from the passenger compartment. It also often includes sound and heat insulation. First Party Coverage The compensation for loss or damage from your insurance company rather than the person involved in the accident. Flat Cancellation A cancellation of a policy free of any charge or fee. Flat Rate A rate that is not subject to any additions or adjustments. Formula 1 The most popular of all the forms of auto racing, Formula 1 tends to be dominated by European drivers. The parallels to Indy Car racing have lead to the defections of drivers like Nigel Mansell, who seek the greater spoils of victory here in the US. Fortuitous Event An unforeseen accident. Four on the Floor (Slang) A four-speed manual transmission. Four-Wheel Drive (4WD) A transfer case distributes power to both axles in order to drive all four wheels. Four-Wheel Steering Vehicle on which all four wheels turn when the driver turns the steering wheel. The rear wheels turn at a smaller angle than the front wheels. This system appeared on a few sports models in the 1980s but was never very popular in North America. Front-Wheel Drive Engine power is transmitted to the front wheels, which are the drive wheels. Also front-drive. Fuel Economy The number of miles a vehicle gets per gallon. Fuel Injector Taking the place of carburetors in the 1980s, the fuel injector is an electrically controlled valve that delivers a precise amount of pressurized fuel into each combustion chamber. Fuel Pump A mechanical or electrical pump that pressurizes the fuel system to move gas from the fuel tank to the engine. Full-Size A car that is usually four doors and seats anywhere from two to seven people. Funny Car This variation of a dragster hides the usual front engine chassis under a lightweight body that looks like a street car. Fuse An electrical device that breaks the current in a circuit that is overloaded or shorted; it prevents damage to other components. However, the fuse itself may fail, and the most common repair when a fuse blows is to simply replace it without working on any other electrical component. GAP Insurance/Protection Stands for Guaranteed Auto Protection insurance. Extra insurance for lease customers to cover the difference in the actual value of the vehicle and whatever is owed on the lease. Important if the car is stolen or totaled early in the lease term. It also covers the difference in value between what may be paid by an insurance carrier and what is still owed to the leasing company, including future lease payments. Gas-Charged Shocks Also called gas-filled shocks. They are shock absorbers filled with a low-pressure gas to smooth the vehicle's ride during up-and-down movement. Gasket Any thin, soft material installed between two metal surfaces to create a good seal. Gasoline Alley This is the garage area at Indy, where major mechanical work is done on the cars. General Property Taxes Any tax on real estate or personal property. Good Faith A code of conduct between parties emphasizing honesty during the transaction. Grand National Circuit This was the previous name for Winston Cup Racing before R.J. Reynolds became the sponsor in 1972. Grand Prix A type of car race popular in Europe. Also, a French term meaning great prize. Gray Market Vehicle Any car that is imported, but not through authorized retailers. May have insufficent emissions standards. Greenhouse Used in automotive circles to describe all of the windows enclosing the passenger compartment. Grille An opening in the front of the vehicle that allows air to reach the radiator. Gross Capitalized Cost See Capitalized Cost. Gross Income The income of the borrower before taxes or expenses are deducted; used to qualify for a loan or a lease. Gross Vehicle Weight Rating The curb weight of the vehicle plus the maximum load it is designed to carry. Handling The ease of vehicle steering and maneuverability around turns, up hills, etc. Hatchback A passenger car with a full-height rear door that includes a rear window. Usually has a rear folding seat. Hazard A situation that may increase the probability of a loss or damage. Head Room The distance from the top of an occupant's head to the headliner. Headliner The interior covering of the roof. Headliners often contain consoles with slots for garage-door openers and other devices, as well as dome lights and wiring for electrical and electronic components attached to the headliner. The covering usually includes a sound-absorbing material. Highway Loss Data Institute Sister organization to the Insurance Institute for Highway Safety. Funded by insurance companies. Hip Room The allotted room between a passenger's hips and any other part of the vehicle. Hold Harmless Agreement An agreement where one party assumes responsibility. Holdback Manufacturer refund to a dealer after a vehicle is sold. Usually a percentage of the MSRP. Home Equity Loan A loan secured by the equity in your home. Interest paid is usually tax-deductible. Increasingly, consumers are using home-equity loans instead of consumer loans to purchase items, such as cars, for which conventional-loan interest is not tax-deductible. Horsepower (hp, bhp) Abbreviated as hp, as in 200-hp engine, or bhp (brake horsepower or net horsepower) to designate power produced by an engine. In general, the higher the horsepower, the higher the vehicle's top speed. One horsepower is the power needed to lift a 550-pound weight one foot in one second. Hot Rod A normal vehicle that has been altered to improve speed and overall appearance or look. I-Beam Suspension A suspension beam under the car that supports the body in the shape of a capital I. Idle Speed The speed of the engine at minimum throttle and the engine in neutral. IHRA International Hot Rod Association IMS Indianapolis Motor Speedway, the site of the Indy 500. This is now an IRL event. IMSA International Motor Sports Association, founded by John Bishop in 1969. Sanctions, organizes, markets and officiates professional auto racing events. Season begins in February at Daytona International Speedway and ends in October on the streets of New Orleans. In-Line Engine Cylinders are arranged side by side in a row and in a single bank. Most four-cylinder and some six-cylinder engines are in-line engines. In V-6, V-8 or V-12 engines, the cylinders are divided into two banks, each of which is angled away from the other in a 'V'. Incentive A cash refund or attractive lease or loan rate offered by an automotive manufacturer toward the purchase of a new vehicle. Indemnity A legal principle specifying that the insured not collect more than the actual cash value of a loss but be restored to approximately the same financial position that existed before the loss. Independent Suspension A suspension design that lets each wheel move up and down independently of the others. A vehicle can have two-wheel or four-wheel independent suspension; sportier models have four-wheel independent suspension. See also Multi-Link Suspension, Live Axle. Indy 500 The big race held in Indianapolis every year on Memorial Day weekend. Indy Lights One level below Indy car racing, known for its lighter version of actual Indy Cars. This is a stepping stone to the Indy 500. Inflatable Tubular Restraint This tube of woven material is stiffer and stays inflated longer than a traditional airbag cushion. The tube protects the occupant's head and torso in a side impact, in part by keeping them away from the point of intrusion. The uninflated tube is tucked into the edge of the roof headliner. The tube is attached at the base of the A-pillar in front of the occupant, and at the roofline behind the occupant. When it inflates, the tube angles across the window to keep the occupants head from hitting the window glass or metal side pillar. Because of the longer time the tubular restraint stays inflated, it is expected to also offer protection in a rollover. Installment Loan A loan repaid in separate smaller amounts, typically monthly. Instrument Panel The instrument panel contains the gauges in front of the driver; the controls for the sound system and climate-control system; the glove box; vents for the windshield defroster; and the front passenger-side airbag. The instrument panel is often delivered to the factory as a complete module with electronic components already installed. Insurance Institute for Highway Safety Sister organization to the Highway Loss Data Institute. Funded by insurance companies. Insurance Verification Proof that the borrower has auto insurance. Integrated Child Seats May also be called integrated child-safety seats or integrated child-restraint seats. Built-in child seats that fold out of the seatback of a rear seat. Sedans with this option usually have one in the center of the rear seat; minivans may have one or two in the middle seating positions. While NHTSA and every other safety organization stress that any child-restraint seat is better than none, built-in child-restraint seats are considered the safest alternative because they are more securely anchored than a seat attached to seat belts. Integrated Safety Belts Also called integrated seat belts. Lap-and-shoulder belts that are built into the seat rather than anchored to the side pillar and the floor pan. A recent innovation, this arrangement ensures better belt fit and ensures that the belt stays with the seat occupant when he or she moves the seat forward or rearward. Some manufacturers also call this belt-in-seat. Intercooler Device that cools air as it leaves a turbocharger or supercharger before the air is blown into the engine air intake. Cooling makes the air denser and richer in oxygen, which lets the engine produce more power. Interest The cost of the money borrowed, usually expressed as a percentage of the whole. Interest Rate The periodic charge, expressed as a percentage, for the use of credit. Interior Payload The amount of space or material that can be carried inside the vehicle. Invoice Price The initial charge to the dealer from the manufacturer, including freight and delivery charges. IRL Indy Racing League founded by Tony George in 1995 in response to re-occurring feuds and disputes with CART. IROC International Race Of Champions Jalopy (Slang) An old, dilapidated automobile. Joint Tenancy Ownership that is shared by two or more persons. Keyless Entry A system for locking and unlocking doors of a vehicle with a central locking system without using the key. Usually, the user controls the locks by pressing a button on a remote key-fob transmitter. Some vehicles have electronic combination locks on the doors near the handle. Kilometers Per Hour (KPH) Multiply by 0.621 to convert to miles per hour. Kit Car A vehicle that is designed for assembly by the private hobbyist. Lap-and-Shoulder Belt A safety belt that secures the driver and/or passenger in the seat with a continuous web of material which fits across the lap and crosses the upper body. It keeps the occupant from jerking forward in the event of a crash. Also called three-way belt, three-point belt, or three-point safety harness. Lapse The termination of a policy due to failure to pay the premium. Leaf Spring Suspension spring made up of several thin, curved, hardened-steel or composite-material plates attached at the ends to the vehicle underbody. The curved shape of the plates allows them to flex and absorb bumps. Lean or Rich Fuel Mixture The fuel mixture is lean when it has too much air, and rich when it has too much fuel. These terms can also be used to refer to adjustments the electronic control module makes to the fuel mixture in response to various driving conditions, particularly on engines with variable-valve technology. Lease A contract between lessor and lessee for a specified time period and at a specified payment. The title to the car remains in the name of the lessor as owner of the asset. Lease-End Residual Value Used to estimate the value of the vehicle at the end of the lease. Lease Rate The monthly finance cost of a lease, similar to the interest rate on a conventional loan. Determined by the money factor. Lease Term The number of months for which a vehicle is leased. Leg Room With the front seat adjusted all the way back, the distance from the accelerator pedal's heel point to the back of the front seat cushion. Lemon (Slang) A vehicle, usually new, that has a large number of defects. Lessee The person who leases a vehicle. The party paying for the use of the vehicle (consumer). Lessor The person or institution who owns and leases the vehicle to the lessee. The party funding the lease of the vehicle placed in lease service. It can be the dealer, a leasing company, or a financial institution such as a bank or credit union. Liability Any legally enforceable obligation. Liability Coverage A type of insurance that pays or renders service on behalf of the insured for any loss or damage due to his or her negligence. Liability Limits The limit of insurance the company will pay for on a particular policy. Lien A legally documented claim against a vehicle by another party to which the vehicle has been offered as security for repayment of a loan or other debt. A lien against the title may make it impossible to sell the vehicle and transfer the title until the lien is cleared. Lienholder An individual or company with a financial interest in an insured's vehicle. Lift Gate The rear opening on a hatchback. Liftover The distance a person must lift an object off the ground to put it in a trunk or cargo bay. Light-Duty Adjective that refers to passenger trucks, as opposed to medium-duty or heavy-duty commercial trucks. Limited-Slip Differential A device that helps prevent the drive wheels from skidding or losing traction by diverting power from the slipping wheel to the opposite wheel on the same axle. Line of Credit An approved loan amount that has not yet been used. Litre Engine-displacement measurement, as in 2.0-litre engine. Live Axle A solid axle allowing movement of the wheel on one end to affect the opposite wheel. Found on older rear-drive cars and tucks. Also called a rigid axle. Loan to Value Ratio (LTV) The ratio of the sales price or appraised value to the loan amount. Obtained by divided price or value into loan amount. A vehicle with a $10,000 price and an $8,000 loan would have a loan-to-value ratio of 80 percent. Lock or Lock-in A commitment you obtain from a lender assuring you a particular interest rate for a definite time period. Protects you in case interest rates rise during the approval process, or between the time you apply for the loan and actually receive the money you have borrowed. Loss The amount sought through an insurer's claim. M+S Rating A tyre rating which indicates a tyre designed to perform well in mud and snow. MacPherson Strut A MacPherson strut is a unit that includes a damper or shock absorber cartridge inside a large, long metal spring. MacPherson struts are used over the front wheels of most front-drive cars. Replacement of MacPherson strut cartridges requires a spring compressor. Make The manufacturer of the vehicle (BMW, Chrysler, Honda). Malicious Mischief The purposeful damaging of another's property. Manifold Absolute Pressure Sensor (MAP sensor) Detects engine load by measuring air pressure or vacuum in the intake manifold. Manual Transmission A transmission that varies the power and torque through a foot pedal controlled clutch and a floor-mounted or steering-shaft-mounted gear selection lever. Manufacturer's Suggested Retail Price (MSRP) The suggested selling price of the vehicle. Does not include destination charges, optional equipment, or taxes. Market Value The price for which something would currently sell. Mass Airflow Sensor Device that measures the flow of air entering the throttle housing. Master Cylinder A piston-type pump that produces pressure in the brake hydraulic system. Medical Payments Coverage Optional insurance that pays for medical and/or funeral expenses for the driver and passenger of a vehicle. Mid-Size A medium size car designed to seat four to six passengers. Mileage Allowance The lessee's estimate of how much mileage he will drive during the lease term. If the lessee underestimates how much he drives, he will face an excess mileage charge at lease end. Mileage Cap In a lease transaction, the maximum number of miles the vehicle can be driven by the end of the lease. There is a per-mile penalty for exceeding this limit. Mileage Charges Fees assessed if lessee drives more than the contracted mileage limit. Miles Per Gallon Fuel economy measurement. Abbreviated as mpg. Generally, a vehicle sticker may offer mpg ratings for city driving, highway driving, and combined driving. Minimum Ground Clearance The distance between the ground and the lowest point of the vehicle chassis (usually the axle). A vehicle can drive over any object shorter than its minimum ground clearance. Minimum Premium The smallest premium that an insurance company will accept for payment on a policy. MIS Michigan International Speedway. Site of the 1996 US 500, a CART event. Model The style of the vehicle produced by the manufacturer (Ford Mustang, Chrysler LeBaron, Honda Civic). Money Factor The money factor is used to determine the lease rate. For all intents and purposes it is the lease equivalent of the interest rate on a conventional loan. The money factor is the current annual percentage rate divided by 24. To figure out the equivalent interest rate, multiply the money factor by 2400. The money factor usually has two zeroes after the decimal point before the rest of the number, for example 0.004133, so any differences in the figure seem very small, but translated into an interest rate they can make a great difference in the actual finance cost of a lease. Monroney Sti</div> <div class="source">Article Source: <a href="http://www.articlealley.com/article_91017_31.html">http://www.articlealley.com/article_91017_31.html</a></div> <div class="author"> <div class="authorOccupation">Occupation: SEO</div> <div class="authorBio">Bruce is a member of SEMPO and has Advance Search Engine Optimization accreditation. 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Used Car Dictionary Author: Bruce Gow Used car dictionary and automobile glossary from Sydney Australia. For a more in depth glossary, go to http://www.used-car.com.au/automotiveglossary/carglossarya.html AA Automobile Association U.K. motoring and travel organisation AANT Automobile Association Northern Territory AARA The American Auto Racing Association, located in Spokane, Washington. A-Bracket Suspension link, shaped in plan view like the letter A. Abbreviated Injury Scale Method of ranking injury severity in road accidents using a scale of 1 to 6. ABS Abbreviation for Anti-Lock Braking System. Absolute Title A document that states a person or a legal entity has the right of ownership. AC Abbreviation for Alternating Current or Airconditioning. Acceleration Measure of the rate at which speed increases. Accelerator Pedal Foot-operated control of engine speed. Accelerator Pump Small carburettor pump to squirt extra fuel into the mixing chamber when accelerating. Accelerometer Instrument for measuring acceleration rate. Accident An unforeseen and unintended event or occurrence. Accumulator Removes moisture from the liquid refrigerant in an air-conditioning system. Ackermann Principle Standard automotive steering principle whereby the inside wheel automatically turns an appropriately tighter circle than the outside wheel when taking a bend. Acoustic Induction Control Engine air intake system using a valve that intermittently closes or restricts the flow of air to the cylinders, improving engine performance at some engine speeds. Acoustic Parking Aid Parking warning system that emits beeps when the car is reversing, advising when the car gets too close to an obstruction. Acquisition Fee A fee charged by the leasing company to buy the vehicle for the lessee and set up the lease. Also called the initiation fee, this typically runs about $450. Acrylic Paint Plastic based automotive lacquer or enamel, used for automotive touch-up and respraying. Act of God Any accident or event that is not by human hand and can not be prevented. Usually a natural cause. Activated Charcoal Filter Device containing charcoal to absorb odours and some pollutants. Active Body Control Regulated suspension system using hydraulic and sensors to change the springing to suit the immediate situation. Active Damper Control System to computer-control the shock absorber damping forces so each wheel varies its response according to the conditions. Active Head Restraint One designed that minimises whiplash injury during a rear-end collision. Active Restraint Seat belt or other safety device that becomes operational when the driver or passenger has taken an appropriate action. Active Safety Those vehicle qualities that help a driver avoid a potential accident, such as braking, steering and cornering stability. Active Suspension System in which electronic sensors work with hydraulic or another external forces to counteract adverse suspension movements. Active Torque Split System in which the transmission distributes engine torque in controlled proportions between all wheels, varying the proportion front and rear to suit the conditions. Actual Cash Value (ACV) Replacement cost of property lost. If your vehicle were stolen, totaled in an accident, or otherwise rendered a loss, the Actual Cash Value is equal to the cost for a similar vehicle at current market prices. Actuator A device that performs a mechanical action in response to an input signal, which may be electrical or fluidic. Adaptive Airbag Two-stage airbag that can inflates in two stages. It is partly filled in a low-speed collision and becomes fully inflated above about 35 km/h. Adaptive Cruise Control Device that enables the car's speed to automatically vary depending on the vehicle in front, using radar, cruise control sensors and, possibly, an external traffic control centre. Adaptive Transmission Device that evaluates various driving techniques to determine the optimum change points for an auto transmission. Additional Insured A person or company, other than the person named on the account who is protected against damage or loss. Additional Insured/Loss Payee Since the lessor owns the leased vehicle, the lessee is required to name the lessor "additional insured" in his insurance liability-coverage policy and as the "loss payee" in his collision and comprehensive policy. Adiathermal Glass Heat-absorbing window pane containing ferric oxide mixed with basic silica to reduce the amount of the sun's rays reaching the interior. Adjustable Seat Belt Shoulder Height Mechanism in the b-pillar that permits the upper seat belt anchor's height to be raised or lowered. Adjustable shock absorber One that can be manually or electronically adjusted to change the dampening qualities. Adjusted Capitalized Cost The basis for the basic monthly payment. Adjuster The person working with the insurance agency who determines the amount of damage, loss, and liability. ADRS Australian motor vehicle design rules. Advance And Retard Mechanism Distributor system to optimise the ignition spark timing to suit several factors including the load and engine speed. ADRA American Drag Racing Association, located in Spokane, Washington. Advertised Price, Average The average listed price for a given year, make and model combination, among the cars currently listed on AutoTrader.com. Advertised Price, Lowest The lowest listed price for a given year, make and model combination, among the cars currently listed on AutoTrader.com. Advertised Price, Highest The highest listed price for a given year, make and model combination, among the cars currently listed on AutoTrader.com. Aerobody Kit Panels to enhance the body's aerodynamic efficiency. Aerodynamics The wind resistance of a vehicle's design elements. Aerodynamic vehicles claim to offer increased performance and reduced wind noise while moving. More simply - the science of reducing wind drag. See Coefficient of Drag. Aerofoil Same as airfoil. A-Frame Chassis frame shaped like the letter a; also a triangulated tow bar attached to the front of a towed vehicle. Afterburner Exhaust manifold that burns hydrocarbons and carbon monoxide in the exhaust gases. Aftercooling Cooling of compressed gas after the compression stage to increase its density. Also that part of the shutdown procedure in some turbocharged engines to minimise bearing wear. After-market Component, equipment or service added after a vehicle has left the assembly plant. After top dead centre That moment after the piston has passed the top of its travel in the cylinder and starts on the down stroke. Agent A representative of the insurance agency, licensed by the state, who solicits, negotiates, and countersigns the contract. Also provides service to the policyholder for the insurance agency. AHRA American Hot Rod Association Air Australian colloquialism for airconditioning. Airbag Fabric bag that automatically inflates in the event of a collision to cushion an occupant. Also a component in a pneumatic suspension unit using compressed air as the main spring. Airbag Curtain Airbag that extends the full length of the passenger compartment and deploys in the event of a side impact or rollover. Airbag Cut-Off System that automatically deactivates the passenger side airbag and seat belt pretensioner should a child-restraint system be on the front seat. Airbag Deployment Strategy Electronic arrangement to automatically turn off the engine and/or fuel pump and unlock the doors when the airbag sensor is triggered. Airbox Scoop in the bodywork to channel relatively cool air to the engine's induction system. Air Brake Brakes, usually on heavy-duty trucks, that use compressed air to operate. Air cleaner Same as air filter. Airconditioning Correctly, a reference to the car's total heating and cooling system, though widely used to indicate refrigerated cooling only. Aircooled engine One using fresh air blown over cooling fins on the cylinder block and cylinder heads to keep temperatures at the required level. Airdam Body panel fitted beneath the front bumper to reduce air drag and aerodynamic lift. Airdam skirt Panel under the front bumper to reduce any tendency for the car's front to lift at speed. Air deflector Large wing mounted on a roof or cab top to deflect air over a trailer, reducing wind drag. Air filter One that removes dust and insects from air entering the engine. Airflow meter Device for measuring gas flow, used to ensure accurate control of the air-fuel ratio. Airflow sensor That part of fuel-injection system that measures airflow. Airfoil Wing-like structure above the body that deflects the airstream downwards to help keep the wheels firmly on the ground. Air Horn Audible warning device operated by compressed air or exhaust gas. Also the air inlet to a carburettor. Air Induction Method of injecting additional air into the combustion chamber via a bypass, thus creating additional turbulence. Air Injection Device in which fresh air is injected at low-pressure into the exhaust system to assist in burning exhaust gases more completely. Air Inlet Valve Movable flap in a plenum chamber to vary the ratio of fresh air and recirculated air entering the ventilation system. Airpump Device for inflating tyres or providing compressed air. Also one that injects air into the exhaust manifold to help complete the combustion of exhaust gases. Air Resistance Wind drag. Air Scoop Shaped section of the body to channel air to a particular component. Air Shock Absorber One using compressed air as a damping medium. Air Spoiler Curved lip that deflects the airstream, increasing downward pressure on the car's rear. Air Spring One that relies on compressed air to absorb the energy of an impact. Air Switching Valve Device within an air-fuel mixing system to prevent the catalyst temperature rising excessively. Air-To-Air Intercooler One that uses air as the cooling medium, instead of water. Air valve One-way valve that admits air to a pneumatic tyre. Also a carburettor valve that allows a controlled quantity of additional air into the fuel mixture. Airbag Lockout Switch A device allowing the driver to turn off the front passenger airbag. Airbag Safety device using an inflatable cushion that inflates and deflates within a fraction of a second to protect a vehicle occupant. Alignment The proper adjustment of the car's suspension. Correct setting of one or more adjustable components. Generally refers to the wheel alignment. Aligning Torque Force that tends to make a tyre return to the straight-ahead position after being angled. Allen Key One made from hexagonal section steel to tighten or loosen bolts or set screws, made with a corresponding socket in their heads. All-Indirect Gearbox Transmission in which all ratios between the input and output shafts are transmitted by gears. All-Wheel Drive Vehicle transmission system in which four or more wheels are constantly under power. Alloy Wheel Road wheel made from light metal. All-Terrain Vehicle One designed for use on land, swamps and water. All-Weather Tyre One with treads providing grip in mud, rain and slush. All-Risks Policy A policy covering all losses except those specifically excluded in the contract. All-Season Tyres Tyres designed to provide good traction in winter snow and slush without wearing too quickly on dry roads. All-Terrain Vehicle (ATV) A small, lightweight vehicle designed for recreational off-highway use. All-Wheel Drive (AWD) A vehicle drivetrain with all wheels powered by the engine at all times. Sometimes called full-time four-wheel drive. Alloy Wheels Any non-steel road wheel. Mostly aluminum, but technically a mixture of two or more metals. Alternative Fuels May be alcohol-based, such as ethanol or methanol; compressed natural gas; or combinations of gasoline and alcohol. Alternator Produces alternating current and recharges the battery. Engine-driven generator that supplies current and charges the battery. Altimeter Gauge showing the height above sea level. AM/FM/MPX Radio Unit combining an am radio and fm radio with a multiplex filter. Ammeter Gauge showing the flow of electric current. Ampere Unit of measurement for the flow of current. Amphometer Speed-detecting device using tubes across a road at a measured distance apart. Amp-hour capacity The rating of a storage battery. Amortization The gradual reduction of a debt by periodic payments large enough to meet current interest payments and repay the principal. Amount Financed The portion of the purchase price that is actually financed. In addition to the cost of the car, it can include the costs of an extended warranty, credit life insurance, and other items rolled into the payments. AMS Atlanta Motor Speedway. Anaerobic Compound Chemical compound (such as loctite) that sets hard in the absence of air. Aneroid tube Thermo-mechanical, temperature/pressure device to regulate fuel entering a fuel-injection system. Ancap Test Australian new car assessment program, being a comparative vehicle safety check to provide comparative crash protection standards, supervised by organisations such as the nrma. Anechoic Chamber Echo-free chamber used in noise-suppression work. Angle of Approach/Departure Greatest grade angle that a vehicle can approach or run off without grounding the chassis or body ahead of the front wheels or behind the rear wheels. Angular Velocity Speed of a rotating body expressed as the angle (in degrees or radians) through which a datum point passes in one second. Annealing Process of heating and slowly cooling to soften a metal object and reducing internal stresses. Annular Gear Toothed wheel with teeth on the inner surface, as in an epicyclic gear. Anode Positive pole in an electric circuit. Anodizing Method of chemically treating the surface of an aluminium alloy component to provide a decorative and/or corrosion-resistant finish. Anti-Burst Lock Door lock that remains closed during a collision. Anti-dive Characteristic of a suspension system in which special geometry helps reduce the tendency of the nose to dip under braking. Antifreeze Additive to lower the temperature at which the radiator coolant freezes. Anti-Foam Agent Additive that reduces the tendency of a lubricant to foam. Anti-Knock Compound Additive to help reduce engine knocking. Anti-Knock Rating Resistance of a fuel mixture to knocking when burned in the combustion chamber. It is known as octane rating for petrol and cetane rating for diesel fuel. Anti-Lift Geometry Suspension system arranged to reduce the tendency of a car's rear to rise during braking. Anti-Lock Braking System One incorporating electronic or other means of preventing any wheel from ceasing to rotate (and sliding) under heavy braking. Anti-Roll Bar U-shaped device with one end connected to each end of the suspension. It twists when one wheel is higher than the other, acting as a torsion spring, thus helping to combat the body roll action. Anti-Skid Brakes Same as anti-lock braking. Anti-Squat Characteristic of a suspension system to reduce or eliminate the tail's tendency to dip under acceleration. Anti-Submarine Ramp Safety mechanism to reduce the risk of a passenger sliding under the seat belt during rapid stopping. Anti-Tramp Bar Additional method of locating a live axle to prevent axle tramp during hard acceleration. Annual Percentage Rate (APR) The average compound interest rate over the life of the loan. A yearly rate of interest that includes fees and costs paid to acquire a loan. Lenders are required by law to disclose the annual percentage rate, which is used to compare various loans; it makes simple interest and compound interest loans comparable with each other. Anti-Lock Brake System (ABS) A computer-controlled braking system that senses impending wheel lockup and pulses the brakes many times a second to prevent it. This results in the most important benefit of ABS: by preventing wheel lockup, it allows the driver to maintain steering control. Unfortunately, too few drivers are trained to use ABS properly. When the system engages, it may vibrate the brake pedal. A driver who doesn't know how to use ABS may lift his foot from the pedal when he receives this feedback, effectively disengaging the system Anti-Roll Bar A suspension component. A steel rod or tube that connects the left and right suspension members to resist roll or swaying of the vehicle. Improves handling. Antifreeze A liquid that mixes with the water in a cooling system of a vehicle's engine. Antifreeze keeps the water from freezing in the winter or cold climates, or from overheating in the summer or hot climates. A-Pillar Vertical roof support between the windshield and front edge of the front side window. Forward pillar to which the windscreen is attached, running from the body and supporting the roof. Application An initial statement of personal and financial information which is required to approve your loan. Applique Decorative metal or plastic panel. Appraisal An opinion of the market value of an asset as of a specific date. Apron Panel under the radiator grille to reduce air resistance and hide the front suspension components. Aquaplaning Phenomenon in which a film of water becomes trapped between a tyre tread and road surface, causing the tyre to lock-up and slide instead of revolving. ARCA Automobile Racing Club of America, the little brother to the Winston Cup racing (ARCA is two levels below). ARCA sports similar cars with shorter races and small pay-outs. Armature Centre core of an electric component such as a starter motor or generator. Armco Trade name for a metal guardrail used on highways and at race circuits to prevent vehicles leaving the road when control is lost. ASC Anti skid control device. ASCD Automatic speed control device, also known as cruise control. Aspect Ratio The ratio between the width and sidewall (or height) of the tyre. Tyres with lower aspect ratios, usually found on sports models, provide superior handling but a harsher ride. The ratio between the height of a tyre and the width of its carcass, expressed as a percentage. AS 2077 Testing procedure devised by the Australian Standards Association to measure fuel consumption. Aspirated engine One that draws in fuel mixture at normal atmospheric pressure, as distinct from turbocharged or supercharged designs. Assigned Risk Plan A risk that must be insured by state law or otherwise. Asymmetric carcass Tyre in which the carcass is not uniform in cross-section. Asymmetric Headlamps Pair of headlamps in which one light beam shines at a different angle to the other. One beam illuminates the kerbside, the other the road ahead. Asymmetric tread Tyre tread with a pattern that is not uniform across the tyre's width. Atkinson Cycle Internal combustion cycle that enables the compression stroke and expansion strokes to be mechanically independent of each other. Atmospheric Engine One in which normal atmospheric pressure draws in the fuel mixture, as distinct from forced induction using a supercharger or turbocharger. Atomisation The breaking of fuel, paint or water into a mist of particles. ATV Abbreviation for all-terrain vehicle. Australian Design Rules Safety and other regulations for new vehicles formed by a government-sponsored advisory committee. Popularly known as ADRS. Auto-Adjusting Suspension Computerised system in which the shock absorber settings automatically vary to suit the road and driving conditions. Auto dipping rear view mirror Light-sensitive mirror that automatically dips to reduce glare when required. Autothermic piston Aluminium piston with a steel strut fitted to the piston-pin boss to limit thermal expansion in a direction perpendicular to the pin, when hot. Auto-Ignition Engine condition in which the incoming fuel-air mixture is ignited before the spark plugs fire, usually caused by hot fragments of carbon. Auto-Ignition Temperature That at which fuel in contact with air ignites and burns. Auto Lash Adjuster Type of hydraulic adjuster for maintaining the correct clearance between the rocker arm, camshaft and valve stem. Auto Lighting Control System that detects the natural light level and automatically activates the headlamps and tail lamps. Auto-Manual Transmission Dual operation transmission that operates fully automatically but also allows the driver to shift gears manually. Automatic Clutch One that automatically engages or disengages when the driver touches the gearlever knob. Automatic Freewheeling Hub Four-wheel drive feature in which the wheel hubs automatically freewheel in 2wd mode and engage when the control lever is moved to 4wd. Automatic Level Control Device that maintains the car at a predetermined height and attitude, regardless of load. Automatic Speed Control Device Same as cruise control. Automatic Transmission One in which the speed of the output shaft varies automatically, to provide the most appropriate gear ratio for the road speed and engine load. Auto Reflex Mirror Interior rear view mirror that automatically changes reflectivity when activated by strong light from behind. Auto Rain-Sensitive Windscreen Wipers Same as rain-sensitive windscreen wipers. Autothermic piston Alloy piston with a steel insert in the piston-pin boss to limit thermal expansion of the hot piston. Autronic eye Electronic mechanism to automatically select high or low headlamp beam for the conditions. Auto Mall Several Dealership operations located on one site. Automatic Locking Retractor Standard on 1995 and later models, this device is built into the shoulder belt retractor and keeps the belt cinched tightly, which is essential for properly securing a child-safety seat. Automatic Temperature Control (ATC) Automatically controls a vehicle's heating and cooling systems, maintaining a temperature preset by the occupant. Automatic Transmission A system that varies the power and torque to a drivetrain without the use of a foot-operated clutch. AWD Abbreviation for all-wheel drive. Axial Flow Design feature of a turbine or pump that permits fluid or air to pass in a direction parallel to its axis. Axle Shaft on which a wheel, bearing or gear is mounted. A rotating metal shaft connected to the wheels on either side of the vehicle. Axle Casing Outer casing of the axle that houses the crown wheel, pinion and half shafts. Axle Location Manner in which a live axle is positioned and its movements restricted. Axle Ratio That between the speed of the propeller shaft and the speed of the shafts driving the wheels. Axle Shaft Drive shaft going from a differential to a road wheel. Axle Tramp Violent shudder of the driven wheels when accelerating. Axle Wind-Up Same as axle tramp. B-pillar Vertical metal roof support between front and rear side windows on the side of the vehicle. Balance Due The amount currently due, minus previous payments, plus cash advances and purchases. Bank Rate The amount the bank charges the consumer, expressed as a percentage. Base-Coat A coat of paint acting as the base for other layers to be applied. Base Price The price of a vehicle without options but including standard equipment, factory warranty, and freight or destination charge. This price is printed on the Monroney sticker. Basic Rate The rate from which discounts or additions are calculated. Beater (Slang) A car for everyday transportation. Usually not in perfect condition. Beltline A horizontal line, usually imaginary but sometimes indicated by a feature in the body design, just below the window openings on a car or truck body. Bench Seats Full-length seat that can usually seat two or three people. Blanket Insurance A property-liability insurance that covers more than one piece of property. Bodily Injury Liability Any liability that may result from the injury or death of another person. Body Style The type of exterior shell or shape to a vehicle (sedan, coupe, truck, etc.). Booster Seat This child-safety seat is designed for children who are too large for a baby seat, but not big enough to sit safely in the vehicle's seats. Bore Diameter of an individual engine cylinder. Borg Warner Trophy Victory in the Indianapolis 500 secures this, the most coveted trophy in Indy Car racing. Boxer Engine The cylinders are opposite (180 degrees apart) from each other. Also called flat engines, these are relatively flat compared to In-line or V engines. Brake Booster Device or system that helps reduce the force the driver must exert against the brake pedal. May be hydraulic or electric. Brake Caliper A hydraulic (liquid-pressured) piston assembly that holds disc-brake pads. Brake Drum The large circular surface that the brake shoe presses against to stop the vehicle. Brake Pad Used in a disc system, it is a replaceable piece of backing plate and additional friction lining. Brake Pull Occurs when the vehicle pulls suddenly to the left or right as the brake pedal is depressed. It indicates the brakes may be out of adjustment. Brake Rotor Shiny metal disk that brake pads squeeze to stop the vehicle; hence the name disc brakes. Brake Shoe A curved, replaceable piece of friction material used on drum brakes. The wheel cylinder pushes the brake shoes against the brake drum. Broker A person who represents the insured to solicit or negotiate for contracts. A broker may deal with many agents or companies on behalf of his or her client. Bucket Seats Individual driver or passenger seats. Bumper-to-bumper A type of warranty that covers the entyre vehicle for a limited amount of time. Busch Series Just one level below Winston Cup, some drivers race at both this and Winston Cup level. These races, often run the day before a Winston Cup race, have gained popularity and are now all televised live, nationally. C-pillar The vertical metal roof support between the side edge of the rear windshield (also called the backlight) and the rear edge of the rear window. CAM The Championship Association of Mechanics, established in 1989, is a non-profit organization that serves the needs of Indy Car crew members. It also acts to publicize their efforts. Camber Inward or outward tilt of the wheels and tyres. This adjustment affects how the vehicle holds the road and handles cornering. Camshaft A machined shaft with lobes that open and close engine-cylinder intake and exhaust valves. As the shaft rotates, the lobes push against valve springs to open the valves and rotate away to close them. Driven by the crankshaft. Capitalized Cost In a lease transaction, the price at which a financial institution buys a vehicle from a dealer. Equivalent to the cash purchase price if the consumer were buying the vehicle outright, it includes taxes and any other additional charges. Also called Capital Cost. Capitalized Cost Reduction In a lease transaction, an up-front payment made at the start of the lease. The lessee can use cash, a rebate or a trade-in. Similar but not equal to a down payment. The lessee must pay sales tax on the cap-cost reduction amount. Also called Capital-Cost Reduction. Captive Finance Company A financial institution owned by a manufacturer. Examples include Chrysler Credit, Ford Motor Credit and GMAC. Carburetor Device that mixes air with fuel, delivering the mixture into the engine's combustion chambers. Only found on older vehicles. By the mid-1980s, new emissions standards led to the use of fuel-injection systems, which do not require frequent adjustment. Carrier The insurance company that provides the insurance. Casualty Insurance Insurance covering the insured's legal liability for damage to other person's property or injuries to them. Other forms of insurance, such as burglary, robbery and worker's compensation, belong in this category. Catalytic Converter An emissions-control device that removes unburned fuel from the exhaust by burning it. Catastrophe Hazard The risk of loss by a peril to which a large number of insured are subject. Typical examples are hurricanes and tornadoes. Center High-Mounted Stop Light (CHMSL) NHTSA-required brake light mounted higher than the taillights, at the top center or bottom center of the rear windshield. Center of Gravity The point of the car where, if it is suspended, it would balance front and rear. Center-Locking Differential On all-wheel drive vehicles, a third differential in addition to those for the front and rear axles. This third differential allows the front and rear wheels to turn at different speeds as needed for cornering on dry pavement. On slippery surfaces, it locks all four wheels together, either automatically or manually depending on the system, for greater traction. Central Locking System On a vehicle with power door locks, the system locks or unlocks all doors at one time. Chlorofluorocarbons (CFCs) Chemicals formerly used as refrigerants in cooling systems. No longer used because they are considered harmful to the Earth's ozone layer. Christmas Tree The pole of lights that starts a drag race, named for its red and green lights. Most drag races use the pro or heads up start which has three lights in between the first (red) and last (green) stage. Claim Request for payment of a loss as covered under the terms of an insurance contract. Clause The term used to identify a certain section of the contract or policy. Clearcoat The transparent top coat of paint on many newer vehicles; designed to create a long-lasting, lustrous appearance. Climate-Control System The non-technical term for the heating, ventilation and air-conditioning system (HVAC). Most current vehicles have all three - heating, defrost, and AC. Closed-End Lease In a lease contract, specifies the vehicle's residual value at the end of the lease term. The lessee is not responsible for the value of the vehicle at term end, but he may face charges for excess wear-and-tear and excessive mileage. Also called a walk-away lease. Closing Costs Any expenses added onto the lease that are incidental to the purchase. (For example, title fees and appraisal fees.) Clutch Device that connects or disconnects the engine from the transmission. Clutch Disk Presses against the the transmission flywheel to transfer power from the engine to the transmission. CMS Charlotte Motor Speedway, home of the World 600 Winston Cup Race, now known as the Coca-Cola 600. This is a NASCAR event, also held on Memorial Day. Coefficient of Drag (Cd) A measure of the aerodynamic resistance of the vehicle body. The smaller the number, the more wind-cheating the body design and the greater likelihood that passengers won't have to endure wind noises. Coil Spring A suspension component made up of spiral-wound hardened steel, used to isolate a vehicle from the up-and-down movement of the wheels on the road. Collateral Assets owned by the borrower which document his or her ability to repay the loan. Listed assets may be seized by the lending institution if the loan is unpaid. Collision Coverage Optional insurance that pays for damage to your car caused by collision with another car or object. Collusion The cooperation between two or more people to secretly defraud another person or company. Combustion Chamber Top section of the engine cylinder, where the air-fuel mixture is ignited by a spark plug. The explosion of the combustion pushes the piston down into the cylinder, producing the force that the transmission delivers to the drive wheels. Common Law Liability The responsibility of injury or loss imposed upon a person because of his or her actions. Compact A small car that can seat two to four people. Compound Interest Interest computed on the sum of an original principal and accrued interest. Comprehensive Coverage Optional insurance that pays for damage to your car caused by things other than collision. For example, if your car is stolen or vandalized. Compression Ratio The ratio of the volume within an engine cylinder when the piston is at the bottom of its stroke, compared to the volume in the cylinder when the piston is at the top of its stroke. The higher the ratio, the more compression during combustion and the more powerful the engine. Compulsory Insurance Any type of insurance that is required by law. Concealment The withholding of facts by an applicant on an insurance application. Console This may refer to the unit found between the front driver and passenger seat that contains the automatic transmission shifter, cupholders and a storage compartment. But it can also refer to the section of the instrument panel that includes the controls for the sound system and climate-control system, particularly if the panel flows down the center of the vehicle and includes the automatic-transmission shifter. Constant-Velocity Joint (CV Joint) On front-wheel drive and all-wheel drive vehicles, a coupling that allows the front axle to turn at a constant speed at various angles when the vehicle turns. The CV joint is a shaft that transmits engine power from the transmission to the wheel. Contribution by Equal Shares Provision in insurance contracts which requires each company to share equally in the loss until the share of each equals the lowest limit of liability under any policy or the full amount of loss is paid. Conversion The wrongful use of a property by the person who owns it. Convertible Any car with a removable top, either a rag (cloth) top or hard top. Coolant Liquid used to carry heat away from the engine. Sometimes called antifreeze. Corporate Average Fuel Economy (CAFE) The government tracks the average fuel economy of all the vehicles produced in a single model-year by each individual manufacturer. CAFE is that rating. Coupe Generally, a two-door car with close-coupled passenger compartment. Coupe de Ville A coupe with an enclosed, rear passenger section and an open driver's section. Craftsman Truck Series These NASCAR Trucks are similar to a Winston Cup race car, under the skin. The body must be stock and its shape is monitored by NASCAR officials. This new series of races has been called one of the most exciting in motorsports. Crankshaft The shaft that converts the up-and-down motion of the pistons into rotation. It is connected to the transmission. Credit Worthy A consumer who will qualify for a vehicle loan. Same as a qualified buyer. Cruise Control A device that, when set by the driver, will hold the car at the chosen speed. Crumple Zone Portions of a vehicle's structure designed to buckle and fold in an impact, absorbing crash force rather than transmitting it to vehicle occupants. Curb Weight The weight of the vehicle without passengers, driver or cargo, but with all standard features, a full tank of fuel, and all the fluids necessary for proper function. Cylinder Block The main part of the engine to which other parts are attached. Cylinder Head At the top of the engine block is the cylinder head which contains intake and exhaust valves. Air and fuel enter the cylinder head through the intake valves and spent leftovers are released after combustion through the exhaust valves. Damper A device which reduces vibration. Daytime Running Lights (DRL) These lights come on whenever the vehicle is turned on; they make the vehicle more visible to other drivers. Mandatory in Canada and standard equipment on many vehicles sold in the United States. Dealer Charges Any extra charges for additional services or products sold by the dealer such as rust-proofing or extended warranties. Dealer Holdback Also known as "pack." Manufacturer refund to a dealer after a vehicle is sold. Usually a percentage (2 to 3%) of the MSRP. Dealer Incentive A limited time discount offered by the manufacturer to a dealership. Dealer Incentives A cash refund or attractive lease or loan rate offered by an automotive manufacturer toward the sale/purchase of a new vehicle. Dealer Invoice Price Also called dealer cost. The amount the dealer pays for a car or truck. Deducted from this price may be a dealer incentive, which is a set discount offered for a limited period of time, or a dealer holdback, which is a percentage of the vehicle's wholesale price. Dealer Preparation Fee Extra charges for getting the car ready. Dealer Sticker Price The base price, or the price on the Monroney sticker, plus the suggested retail price of dealer-installed options, dealer preparation, and add-ons such as undercoating. Deductible The amount of money or percentage of expenses that will be covered by the insured. Default Charges Fees charged the lessee as a result of missing payments or otherwise defaulting on the lease. Typical charges include all remaining payments and any additional costs incurred in reclaiming the vehicle. The security deposit may also be lost. Deposit A sum of money to hold a deal until the paperwork is complete. If the deal is closed, the deposit is applied to the down payment. Depreciation The decrease in a vehicle's market value over time. The amount of yearly depreciation is affected by vehicle condition; resale-marketplace supply and demand; and make and model reputation. Convertibles, high-performance cars, trucks and vans tend to depreciate less than other vehicles. Destination & Delivery Charges The cost of transporting the vehicle from the assembly plant to the dealership. Usually a flat fee passed on to the buyer without any markup. Diesel An internal combustion engine in which the air-fuel mixture is ignited by compression in the cylinder rather than by a spark. Diesel engines use diesel fuel rather than gasoline and tend to be more fuel-efficient and require less maintenance than gasoline engines, but it is more complicated to get them to run cleanly. Also used as a slang term: after turning off the ignition, the engine continues to run for a short period. Diesel fuel The fuel used by a diesel engine. Usually found in tractor trailers and other trucks. Differential A mechanical gearbox or fluid coupling that allows wheels to rotate at different speeds. Usually located on an axle, it allows the outside wheels to turn faster than the inside wheels during cornering. Four-wheel-drive and all-wheel drive vehicles have two differentials, one for the rear axle and one for the front. all-wheel drive vehicles also may have a third or center differential on the drive shaft that runs between the front and rear axles. Ding A small dent or scrape in the body of the vehicle. Direct Financing Arranging the loan directly through a bank or credit union rather than through the dealer. Direct Loss Damage or loss directly due to a particular event or peril. Disc Brakes Shiny metal discs, called brake rotors, are attached to the wheel hub, rotating with the wheel. When the brake pedal is depressed, the brake calipers squeeze the discs to slow the vehicle. See Brake Caliper and Brake Rotor. Displacement The volume displaced by an engine's cylinders. Formerly measured in cubic inches, it is now more commonly expressed in liters. Disposal Fee Also called Disposition Fees. Charge for costs associated with picking up and processing the returned car at the end of the lease. This runs from $200 to $400. Sometimes rolled into monthly payments. Often absorbed by dealers when another vehicle is leased. Distributor Part of the ignition (electrical) system. Delivers electricity from the ignition coil to the distributor cap and the spark plug wires in the correct firing order. (The firing order is that sequence in which each cylinder begins its power stroke.) The spark plugs ignite the fuel and air mixture in each cylinder thousands of times a minute, producing the explosion that pushes the piston down in the cylinder to power the vehicle. Double Wishbone Suspension A type of independent suspension in which the upper and lower support pieces, or members, look somewhat like a wishbone. Down Payment The up-front cash payment that the buyer makes to reduce the amount borrowed to purchase a car; the difference between the loan amount and the purchase price. A trade-in allowance and/or rebate also may be used as down payment. The down payment helps protect the bank, credit union or finance company in case the borrower defaults on the loan. A typical down payment is about 20 percent of the vehicle's sale price. Drafting A phenomena where two cars running nose to tail together can move faster than an individual vehicle. Drive Axle Connects the transaxle to the front wheels on a front-wheel drive vehicle. Drive Range (EV) The distance an electric vehicle can drive without re-charging its batteries. Drive Shaft A rotating metal shaft that transfers power from the transmission differential gear assembly to the rear wheels on a rear-wheel drive vehicle. Drive Wheels The wheels, front, rear, or both, to which the engine transmits its power. Drivetrain Vehicle components which act together to move the vehicle forward or backward. On a rear-drive vehicle, it is the combination of the engine, transmission, differential and drive shaft. On a front-drive vehicle, it consists of the engine, transaxle and drive axles. Drum Brakes A braking system that uses a metal drum. Brake shoes press against the drum to slow or stop the car. Dual Overhead Cam (DOHC) Engine with two camshafts on top of the cylinder head, one to open and close intake valves, the other to open and close exhaust valves. See also Overhead Cam and Overhead Valve. Early Termination Ending the lease before the contracted time. May be involuntary, due to theft or accident. Early Termination Charge Additional fee charged when a lease is ended before the agreed-upon term. Often represents a substantial penalty. Earned Premium The portion of the premium which is already paid from an expired policy term. Electric Vehicles (EV) Vehicles powered by electricity, generally using a rechargeable battery. Electronic Control Module (ECM) The computer that controls the engine's fuel and emissions systems. Among the devices it controls is the idle air control, or IAC, which regulates the idle speed in fuel-injected engines. Also called the Electronic Control Unit (ECU). Electronic Fuel Injection System Injects fuel into the engine's cylinders with electronic control to time and meter the fuel flow. Electronic Valve Timing (EVT) System in which a computer controls the timing of the opening and closing of cylinder valves. End of Lease Payment In an open-end lease, the amount the lessee pays at the end of the lease; the difference between the vehicle's residual value, which was used to calculate lease payments, and the actual market value. Engine Displacement The total of the volume used for combustion inside the cylinders of an engine. Measured in liters on newer models, or in cubic inches on older models. Environmental Protection Agency (EPA) The federal agency that regulates air quality and sets automotive fuel-economy and emissions standards. Equity The value left in a used vehicle after subtracting the outstanding loan balance from its market value. For example, if $4,000 is still owed on a car worth $8,000 on the open market, then it has an equity of $4,000. Escrow A process in which a neutral third party takes care of the transfer of ownership of the vehicle. Evaporative Emissions Evaporated fuel from the carburetor or fuel system which mixes with the surrounding outside air. Evaporator Core Part of the climate-control system that contains a liquid refrigerant which turns to gas to absorb heat from the air. Excess Mileage Any mileage over the amount agreed upon within the lease. Generally incurs a per-mileage charge at the end of the lease. Experts recommend a yearly mileage limit, or Mileage Cap, that exceeds normal driving needs. Excess Mileage Charge Additional charge at the end of the lease for every mile on the odometer over the limit stated in the lease. A typical charge is 15 cents per mile, but the fees can be from 10 cents to 25 cents a mile. It costs less to figure your expected mileage use (or mileage allowance) realistically and prepay than to pay for excess mileage at lease end. Excess Wear and Tear Visible damage to a vehicle that is above and beyond what is considered normal wear and tear. Usually specified in the lease contract. Will incur additional cost at lease-end. If possible, negotiate as specifically as you can in the lease what the lessor will consider excess wear and tear. Exclusion Any cause, condition, or property which are not covered by the policy. Exhaust Gas Recirculation (EGR) Part of the emissions system, it recirculates exhaust gases into the intake manifold, cooling the combustion chamber. Exhaust Manifold The passages that route the exhaust gases towards the muffler and exhaust system. Extended Coverage A policy that covers any extras that are not in the original policy. Factory Equipment The standard and options that make up the equipment of a used vehicle. Fan Belt Transmits power from a crankshaft-driven pulley to an engine fan and other accessories. FIA Federation Internationale De L'Automobile Fifth Wheel Provides a flexible connection between the tractor and the trailer. Final Drive Ratio The reduction ratio of the transmission gear set furthest from the engine. In other words, the ratio of the number of rotations of the drive shaft for one rotation of a wheel. In general, a low final drive ratio results in better fuel efficiency, and higher final drive ratio results in better performance. Firewall The metal panel that separates the engine compartment from the passenger compartment. It also often includes sound and heat insulation. First Party Coverage The compensation for loss or damage from your insurance company rather than the person involved in the accident. Flat Cancellation A cancellation of a policy free of any charge or fee. Flat Rate A rate that is not subject to any additions or adjustments. Formula 1 The most popular of all the forms of auto racing, Formula 1 tends to be dominated by European drivers. The parallels to Indy Car racing have lead to the defections of drivers like Nigel Mansell, who seek the greater spoils of victory here in the US. Fortuitous Event An unforeseen accident. Four on the Floor (Slang) A four-speed manual transmission. Four-Wheel Drive (4WD) A transfer case distributes power to both axles in order to drive all four wheels. Four-Wheel Steering Vehicle on which all four wheels turn when the driver turns the steering wheel. The rear wheels turn at a smaller angle than the front wheels. This system appeared on a few sports models in the 1980s but was never very popular in North America. Front-Wheel Drive Engine power is transmitted to the front wheels, which are the drive wheels. Also front-drive. Fuel Economy The number of miles a vehicle gets per gallon. Fuel Injector Taking the place of carburetors in the 1980s, the fuel injector is an electrically controlled valve that delivers a precise amount of pressurized fuel into each combustion chamber. Fuel Pump A mechanical or electrical pump that pressurizes the fuel system to move gas from the fuel tank to the engine. Full-Size A car that is usually four doors and seats anywhere from two to seven people. Funny Car This variation of a dragster hides the usual front engine chassis under a lightweight body that looks like a street car. Fuse An electrical device that breaks the current in a circuit that is overloaded or shorted; it prevents damage to other components. However, the fuse itself may fail, and the most common repair when a fuse blows is to simply replace it without working on any other electrical component. GAP Insurance/Protection Stands for Guaranteed Auto Protection insurance. Extra insurance for lease customers to cover the difference in the actual value of the vehicle and whatever is owed on the lease. Important if the car is stolen or totaled early in the lease term. It also covers the difference in value between what may be paid by an insurance carrier and what is still owed to the leasing company, including future lease payments. Gas-Charged Shocks Also called gas-filled shocks. They are shock absorbers filled with a low-pressure gas to smooth the vehicle's ride during up-and-down movement. Gasket Any thin, soft material installed between two metal surfaces to create a good seal. Gasoline Alley This is the garage area at Indy, where major mechanical work is done on the cars. General Property Taxes Any tax on real estate or personal property. Good Faith A code of conduct between parties emphasizing honesty during the transaction. Grand National Circuit This was the previous name for Winston Cup Racing before R.J. Reynolds became the sponsor in 1972. Grand Prix A type of car race popular in Europe. Also, a French term meaning great prize. Gray Market Vehicle Any car that is imported, but not through authorized retailers. May have insufficent emissions standards. Greenhouse Used in automotive circles to describe all of the windows enclosing the passenger compartment. Grille An opening in the front of the vehicle that allows air to reach the radiator. Gross Capitalized Cost See Capitalized Cost. Gross Income The income of the borrower before taxes or expenses are deducted; used to qualify for a loan or a lease. Gross Vehicle Weight Rating The curb weight of the vehicle plus the maximum load it is designed to carry. Handling The ease of vehicle steering and maneuverability around turns, up hills, etc. Hatchback A passenger car with a full-height rear door that includes a rear window. Usually has a rear folding seat. Hazard A situation that may increase the probability of a loss or damage. Head Room The distance from the top of an occupant's head to the headliner. Headliner The interior covering of the roof. Headliners often contain consoles with slots for garage-door openers and other devices, as well as dome lights and wiring for electrical and electronic components attached to the headliner. The covering usually includes a sound-absorbing material. Highway Loss Data Institute Sister organization to the Insurance Institute for Highway Safety. Funded by insurance companies. Hip Room The allotted room between a passenger's hips and any other part of the vehicle. Hold Harmless Agreement An agreement where one party assumes responsibility. Holdback Manufacturer refund to a dealer after a vehicle is sold. Usually a percentage of the MSRP. Home Equity Loan A loan secured by the equity in your home. Interest paid is usually tax-deductible. Increasingly, consumers are using home-equity loans instead of consumer loans to purchase items, such as cars, for which conventional-loan interest is not tax-deductible. Horsepower (hp, bhp) Abbreviated as hp, as in 200-hp engine, or bhp (brake horsepower or net horsepower) to designate power produced by an engine. In general, the higher the horsepower, the higher the vehicle's top speed. One horsepower is the power needed to lift a 550-pound weight one foot in one second. Hot Rod A normal vehicle that has been altered to improve speed and overall appearance or look. I-Beam Suspension A suspension beam under the car that supports the body in the shape of a capital I. Idle Speed The speed of the engine at minimum throttle and the engine in neutral. IHRA International Hot Rod Association IMS Indianapolis Motor Speedway, the site of the Indy 500. This is now an IRL event. IMSA International Motor Sports Association, founded by John Bishop in 1969. Sanctions, organizes, markets and officiates professional auto racing events. Season begins in February at Daytona International Speedway and ends in October on the streets of New Orleans. In-Line Engine Cylinders are arranged side by side in a row and in a single bank. Most four-cylinder and some six-cylinder engines are in-line engines. In V-6, V-8 or V-12 engines, the cylinders are divided into two banks, each of which is angled away from the other in a 'V'. Incentive A cash refund or attractive lease or loan rate offered by an automotive manufacturer toward the purchase of a new vehicle. Indemnity A legal principle specifying that the insured not collect more than the actual cash value of a loss but be restored to approximately the same financial position that existed before the loss. Independent Suspension A suspension design that lets each wheel move up and down independently of the others. A vehicle can have two-wheel or four-wheel independent suspension; sportier models have four-wheel independent suspension. See also Multi-Link Suspension, Live Axle. Indy 500 The big race held in Indianapolis every year on Memorial Day weekend. Indy Lights One level below Indy car racing, known for its lighter version of actual Indy Cars. This is a stepping stone to the Indy 500. Inflatable Tubular Restraint This tube of woven material is stiffer and stays inflated longer than a traditional airbag cushion. The tube protects the occupant's head and torso in a side impact, in part by keeping them away from the point of intrusion. The uninflated tube is tucked into the edge of the roof headliner. The tube is attached at the base of the A-pillar in front of the occupant, and at the roofline behind the occupant. When it inflates, the tube angles across the window to keep the occupants head from hitting the window glass or metal side pillar. Because of the longer time the tubular restraint stays inflated, it is expected to also offer protection in a rollover. Installment Loan A loan repaid in separate smaller amounts, typically monthly. Instrument Panel The instrument panel contains the gauges in front of the driver; the controls for the sound system and climate-control system; the glove box; vents for the windshield defroster; and the front passenger-side airbag. The instrument panel is often delivered to the factory as a complete module with electronic components already installed. Insurance Institute for Highway Safety Sister organization to the Highway Loss Data Institute. Funded by insurance companies. Insurance Verification Proof that the borrower has auto insurance. Integrated Child Seats May also be called integrated child-safety seats or integrated child-restraint seats. Built-in child seats that fold out of the seatback of a rear seat. Sedans with this option usually have one in the center of the rear seat; minivans may have one or two in the middle seating positions. While NHTSA and every other safety organization stress that any child-restraint seat is better than none, built-in child-restraint seats are considered the safest alternative because they are more securely anchored than a seat attached to seat belts. Integrated Safety Belts Also called integrated seat belts. Lap-and-shoulder belts that are built into the seat rather than anchored to the side pillar and the floor pan. A recent innovation, this arrangement ensures better belt fit and ensures that the belt stays with the seat occupant when he or she moves the seat forward or rearward. Some manufacturers also call this belt-in-seat. Intercooler Device that cools air as it leaves a turbocharger or supercharger before the air is blown into the engine air intake. Cooling makes the air denser and richer in oxygen, which lets the engine produce more power. Interest The cost of the money borrowed, usually expressed as a percentage of the whole. Interest Rate The periodic charge, expressed as a percentage, for the use of credit. Interior Payload The amount of space or material that can be carried inside the vehicle. Invoice Price The initial charge to the dealer from the manufacturer, including freight and delivery charges. IRL Indy Racing League founded by Tony George in 1995 in response to re-occurring feuds and disputes with CART. IROC International Race Of Champions Jalopy (Slang) An old, dilapidated automobile. Joint Tenancy Ownership that is shared by two or more persons. Keyless Entry A system for locking and unlocking doors of a vehicle with a central locking system without using the key. Usually, the user controls the locks by pressing a button on a remote key-fob transmitter. Some vehicles have electronic combination locks on the doors near the handle. Kilometers Per Hour (KPH) Multiply by 0.621 to convert to miles per hour. Kit Car A vehicle that is designed for assembly by the private hobbyist. Lap-and-Shoulder Belt A safety belt that secures the driver and/or passenger in the seat with a continuous web of material which fits across the lap and crosses the upper body. It keeps the occupant from jerking forward in the event of a crash. Also called three-way belt, three-point belt, or three-point safety harness. Lapse The termination of a policy due to failure to pay the premium. Leaf Spring Suspension spring made up of several thin, curved, hardened-steel or composite-material plates attached at the ends to the vehicle underbody. The curved shape of the plates allows them to flex and absorb bumps. Lean or Rich Fuel Mixture The fuel mixture is lean when it has too much air, and rich when it has too much fuel. These terms can also be used to refer to adjustments the electronic control module makes to the fuel mixture in response to various driving conditions, particularly on engines with variable-valve technology. Lease A contract between lessor and lessee for a specified time period and at a specified payment. The title to the car remains in the name of the lessor as owner of the asset. Lease-End Residual Value Used to estimate the value of the vehicle at the end of the lease. Lease Rate The monthly finance cost of a lease, similar to the interest rate on a conventional loan. Determined by the money factor. Lease Term The number of months for which a vehicle is leased. Leg Room With the front seat adjusted all the way back, the distance from the accelerator pedal's heel point to the back of the front seat cushion. Lemon (Slang) A vehicle, usually new, that has a large number of defects. Lessee The person who leases a vehicle. The party paying for the use of the vehicle (consumer). Lessor The person or institution who owns and leases the vehicle to the lessee. The party funding the lease of the vehicle placed in lease service. It can be the dealer, a leasing company, or a financial institution such as a bank or credit union. Liability Any legally enforceable obligation. Liability Coverage A type of insurance that pays or renders service on behalf of the insured for any loss or damage due to his or her negligence. Liability Limits The limit of insurance the company will pay for on a particular policy. Lien A legally documented claim against a vehicle by another party to which the vehicle has been offered as security for repayment of a loan or other debt. A lien against the title may make it impossible to sell the vehicle and transfer the title until the lien is cleared. Lienholder An individual or company with a financial interest in an insured's vehicle. Lift Gate The rear opening on a hatchback. Liftover The distance a person must lift an object off the ground to put it in a trunk or cargo bay. Light-Duty Adjective that refers to passenger trucks, as opposed to medium-duty or heavy-duty commercial trucks. Limited-Slip Differential A device that helps prevent the drive wheels from skidding or losing traction by diverting power from the slipping wheel to the opposite wheel on the same axle. Line of Credit An approved loan amount that has not yet been used. Litre Engine-displacement measurement, as in 2.0-litre engine. Live Axle A solid axle allowing movement of the wheel on one end to affect the opposite wheel. Found on older rear-drive cars and tucks. Also called a rigid axle. Loan to Value Ratio (LTV) The ratio of the sales price or appraised value to the loan amount. Obtained by divided price or value into loan amount. A vehicle with a $10,000 price and an $8,000 loan would have a loan-to-value ratio of 80 percent. Lock or Lock-in A commitment you obtain from a lender assuring you a particular interest rate for a definite time period. Protects you in case interest rates rise during the approval process, or between the time you apply for the loan and actually receive the money you have borrowed. Loss The amount sought through an insurer's claim. M+S Rating A tyre rating which indicates a tyre designed to perform well in mud and snow. MacPherson Strut A MacPherson strut is a unit that includes a damper or shock absorber cartridge inside a large, long metal spring. MacPherson struts are used over the front wheels of most front-drive cars. Replacement of MacPherson strut cartridges requires a spring compressor. Make The manufacturer of the vehicle (BMW, Chrysler, Honda). Malicious Mischief The purposeful damaging of another's property. Manifold Absolute Pressure Sensor (MAP sensor) Detects engine load by measuring air pressure or vacuum in the intake manifold. Manual Transmission A transmission that varies the power and torque through a foot pedal controlled clutch and a floor-mounted or steering-shaft-mounted gear selection lever. Manufacturer's Suggested Retail Price (MSRP) The suggested selling price of the vehicle. Does not include destination charges, optional equipment, or taxes. Market Value The price for which something would currently sell. Mass Airflow Sensor Device that measures the flow of air entering the throttle housing. Master Cylinder A piston-type pump that produces pressure in the brake hydraulic system. Medical Payments Coverage Optional insurance that pays for medical and/or funeral expenses for the driver and passenger of a vehicle. Mid-Size A medium size car designed to seat four to six passengers. Mileage Allowance The lessee's estimate of how much mileage he will drive during the lease term. If the lessee underestimates how much he drives, he will face an excess mileage charge at lease end. Mileage Cap In a lease transaction, the maximum number of miles the vehicle can be driven by the end of the lease. There is a per-mile penalty for exceeding this limit. Mileage Charges Fees assessed if lessee drives more than the contracted mileage limit. Miles Per Gallon Fuel economy measurement. Abbreviated as mpg. Generally, a vehicle sticker may offer mpg ratings for city driving, highway driving, and combined driving. Minimum Ground Clearance The distance between the ground and the lowest point of the vehicle chassis (usually the axle). A vehicle can drive over any object shorter than its minimum ground clearance. Minimum Premium The smallest premium that an insurance company will accept for payment on a policy. MIS Michigan International Speedway. Site of the 1996 US 500, a CART event. Model The style of the vehicle produced by the manufacturer (Ford Mustang, Chrysler LeBaron, Honda Civic). Money Factor The money factor is used to determine the lease rate. For all intents and purposes it is the lease equivalent of the interest rate on a conventional loan. The money factor is the current annual percentage rate divided by 24. To figure out the equivalent interest rate, multiply the money factor by 2400. The money factor usually has two zeroes after the decimal point before the rest of the number, for example 0.004133, so any differences in the figure seem very small, but translated into an interest rate they can make a great difference in the actual finance cost of a lease. Monroney Sti Article Source: http://www.articlealley.com/article_91017_31.html About the Author: Bruce is a member of SEMPO and has Advance Search Engine Optimization accreditation. He is also a Google Adwords Professional and has been involved in the search industry for over six years http://www.searchengine-guy.com.au

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