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Auto Finance Terminologies Explained

A deeper understanding of the auto finance terminologies will help you make informed decision when it comes to buying or leasing a vehicle. Here are some of the terms:

  • Securitization – assets are converted into securities, which are then traded on the financial market as financial instruments.
  • Service Contract – Maintenance and services contracts between a contractor and a customer for a predetermined period of time.
  • Short-term Note – One year from the date of the note’s release, a note with a clear fixed maturity period.
  • Subprime – this is a term used to describe
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