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dacia.co.uk
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Definitions (29)
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ANNUAL PERCENTAGE RATE
Rate of the finance deal which includes all charges
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Balance to be financed
Amount to be financed (Cash Price - Deposit)
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Cash price
On the Road Price
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Credit facility fee
Administration fee to be paid at the same time as the last monthly payment and the Option to Purchase fee
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DEPOSIT
A sum a money paid up front to reduce the amount to be financed
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Excess mileage charge
Amount of money per mile to be paid when when the agreed mileage has been exceeded
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Excess wear and tear charge
Additional charge for rectification work where returned vehicles do not meet acceptable standards
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Gap insurance
Guaranted Asset Protection - could cover the difference between what an insurance company will pay in the event of vehicle being stolen or written off and the outstanding balance on a finance agreemen [..]
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Hire purchase
Traditional finance agreement whereby the customer pays a deposit, fixed monthly payments over a period of 1 - 5 years. Customer takes ownership when all instalments have been paid.
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Mileage allowance
Total amount of miles permitted as per terms of the agreement
Meaning awaits approval from a moderator |
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