Index

Car Finance Glossary

Every car finance term, explained in plain English with a worked number. Each entry links to the calculator or guide that puts it to work.

IndependentWe sell no financeNo commissionMaths based on FCA rules & the Consumer Credit Act 1974

Glossary

01GMFVGMFV (Guaranteed Minimum Future Value) explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
02Balloon PaymentBalloon Payment explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
03APRAPR explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
04Flat RateFlat Rate explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
05GAP InsuranceGAP Insurance explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
06Conditional SaleConditional Sale explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
07Excess MileageExcess Mileage explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
08EquityEquity explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
09Soft SearchSoft Search explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
10Hard SearchHard Search explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
11Optional Final PaymentOptional Final Payment explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
12GuarantorGuarantor explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
13Voluntary SurrenderVoluntary Surrender explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
14Settlement FigureSettlement Figure explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.
15Negative EquityNegative Equity explained in plain English for UK car finance: what it means, how it works, and a worked example. Then use the calculator that puts it to work — free.