3 / 6 The number of initial payments. 23, 35, 47 The number of payments within the agreement

Total amount of a loan

The total interest payable on a loan

Payment due at the end of a Contract Purchase agreement which pays to buy the vehicle. Often clients return the vehicle and replace with new one

Payment made by a company to an employee in lieu of a company car. Normally paid monthly through salary and is broadly equivalent to the leasing cost of the car

County court order made against a borrower who has defaulted on payments

Fixed period vehicle rental e.g 12 months, 24 months available to include vehicle maintenance etc. Payments include VAT

As Above, but for private individuals not VAT registered

Agreement to purchase the vehicle over a set period of time. Usually includes full maintenance (like Contract Hire). Often includes final balloon payment

Points system used by lenders in assessing a clients Credit Rating e.g Home Owner, Tenant, Electoral Role. Each point earned improves the Credit Score

A credit check carried out by a credit reference agency to check your past and current credit record e.g If you have CCJs, defults etc. Check Your Credit File

The amount of money you pay towards the vehicle agreement

The decreasing value of a vehicle over a period of time