
When you are shopping for a vehicle to buy or lease in Aiea, HI, it is critical to understand the auto finance terminologies that are used in the industry. At Cutter Mitsubishi-Aiea, we help our customers comprehend the auto finance jargon we use for a better understanding of the process. Here are the common terminologies:
Bill of Sale – This is a record of the sale of a vehicle produced by the seller or the dealership.
Black Book – it shows the worth of a car, van, SUV, or truck. Black book uses data from wholesale car auctions to determine the worth of a vehicle.
Blue Book – commonly called the Blue Book Value that determines how much a car is worth at the market at a particular time.
Cash Back Refinancing – often shortened as Cash Back Refi, it is the ability to use the value of your car as collateral for a new loan. It enables you to utilize the equity you have on the car to get some cash back.