Glossary - D, E, F

D

Depreciation

Over time your vehicle loses value. This is due to a number of reason from make & model to mileage & age. Depreciation generally won't be a problem unless you plan on changing your vehicle frequently whilst on a car finance agreement.

E

Equity

Equity in a vehicle is calculated by subtracting the amount of finance outstanding on the vehicle from the current market value. Equity is normally calculated when part exchanging your vehicle.

F

Other terms

Common Questions

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