Car Buying Terms and Definitions

Sticker price / list price → “The sticker price of the car was £40,000 before any negotiations.”

• The official retail price of the car.

• The price after negotiations.

• The price of the car including taxes.

• The price offered by the dealer.

Nowhere near as (expensive/good) as… → “The offer was nowhere near as expensive as he expected.”

• Much less expensive or better than expected.

• Significantly more expensive than anticipated.

• Exactly as expensive as he thought.

• Somewhat better than he hoped.

To get your money’s worth → “He felt he got his money’s worth with the extras included.”

• Good value for what you spent.

• A feeling of regret about spending money.

• An indication of poor service received.

• A measure of how much you can save.

All things considered → “All things considered, it was worth the money.”

• Taking everything into account.

• Ignoring all factors.

• Considering only the positives.

• Focusing on the negatives.

Fork out / cough up → “He had to fork out quite a lot for the new model.”

• Spend a large sum, often reluctantly.

• Save a large sum for future use.

• Borrow money from a friend.

• Invest in a new business venture.

Part-exchange → “He did a part-exchange and traded in his old car for the new model.”

• When you trade in your old car as part of the payment for a new one.

• A method of financing a new car purchase without any trade-in.

• A type of insurance for new car buyers.

• A process of selling your old car to a dealership for cash.

Finance deal → “He opted for a finance deal to pay the car in monthly instalments.”

• An arrangement where you pay in instalments, often with interest.

• A one-time payment for a product or service.

• A type of loan that requires no interest.

• A method of saving money for future purchases.

Pay up → “The dealer made him pay up before releasing the car.”

• Reluctantly hand over money.

• Refuse to pay any money.

• Pay with a credit card.

• Negotiate a lower price.

A rip-off → “That price is a complete rip-off.”

• A fair price for a product.

• Something far too expensive for what it is.

• A discount on a product.

• A price that is just right.

Balance / outstanding balance → “After the part-exchange, he still had an outstanding balance of £5,000.”

• The total amount paid so far.

• The remaining amount to be paid.

• The initial amount borrowed.

• The amount of interest accrued.