Personal Finance-- Purchasing a car and getting a loan

Asset

• An office, station, service, or employee whose function is to provide information to the public:

• A single item of ownership having or expecting to have financial or exchange value

• Of or relating to a single or specific person, thing, group, class, occasion, etc., rather than to others or all; special rather than general.

• The estimation in which a person or thing is held, especially by the community or the public generally;

Depreciation

• To be usable but regarded as obsolete and best avoided, typically due to having been superseded.

• Characterized by or reflecting a state of moral or cultural decline.

• A decline in the value of a particular asset over time due to wear and tear, decay, decline in price, etc.

• The near or approaching a certain state, condition, goal, or standard.

Mortgage

• A loan you take out with a piece of real estate property as a collateral or security.

• A writing or document executed under seal and delivered to effect a conveyance, especially of real estate.

• A piece of landed property, especially one of large extent with an elaborate house on it.

• That which a person owns; the possession or possessions of a particular owner.

Collateral

• To make a return of, pay back or refund, as money.

• To get (something desired), especially as a result of one's efforts.

• The process of uniting two or more numbers into one sum, represented by the symbol +.

• Asset set as a guarantee of a loan or security for its repayment.

Market value

• The value of the market bear, stock market, etc., in terms of what it was sold on the open market on that specific day.

• The value of a business, property, etc., in terms of what it can be sold for in the open or its current value.

• Economics commodities that are tangible, usually movable, and generally not consumed at the same time as they are produced.

• The value of a business, property, etc., as stated in a book of accounts or in a manuscript that keeps the value of products current.

Credit History

• A credit bureau tracks the credit history of borrowers in order to generate credit reports and credit scores. Financial companies buy this information to help them determine the credit risk of their customers and make decisions about extending them credit.

• A credit card is a type of payment card in which charges are made against a line of credit instead of the account holder’s cash deposits. When someone uses a credit card to make a purchase, that person’s account accrues a balance that must be paid off each month.

• A credit history is the record of how a person has managed his or her credit in the past, including total debt load, number of credit lines, and timeliness of payment.

• Credit history is the evidence of a borrower's past in doing well in business.

To finance

• To pay debts.

• To get a loan.

• To create credit history.

• To work in Wall Street.

Real Estate

• Car or related property.

• Property in the form of liquid assets.

• Property that is actual and real.

• Land or building property.