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Auto loan glossary
Was it the gleam of the chrome on that shiny new car that dazzled you? Or the bright cheery smile and baffling terms tossed around by the car salesperson? Before you sign a loan or lease contract for a car, know what you're getting into with our glossary of terms about auto loans and leasing. Bookmark this glossary so you'll always have a quick reference at hand. |
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- Hard inquiry
A credit reporting term, it refers to an item on a person's credit report indicating someone has pulled the report. It shows loan-shopping, and a little is all right, but too much loan-shopping can hurt your credit score.
- Household income
The total income of all members of a household. Used by lenders to evaluate joint applications for credit.
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| National
auto loan rates |
| 11/21/2009 7:01:29 AM
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