Ed Car Guy
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Ed Levitt is Ed Car Guy - the no-hassle way to purchase your next new or used car, truck, van or SUV. From start to finish, Ed will negotiate the lowest price on your vehicle, the financing, get you top dollar for your trade-in and arrange for door-to-door delivery.

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MSRP: Also known as Manufacturer's Suggested Retail Price, Monroney Label, Sticker Price, or List Price. The retail-selling price of the vehicle as suggested by the manufacturer, printed with all the standard and optional equipment on the window.

Invoice: The price the dealer pays the manufacturer for the vehicle. This does not reflect the market value of the car or any factory to dealer incentives.

O.A.C. "On approval of credit" Usually posted in the fine print on and ads that display a special, low interest rate of credit"

Upside down or Negative Equity:  This occurs when you owe more to the lender than your trade is actually worth.

Capitalized Cost : The price of the leased vehicle and any other charges such as fees or taxes that become the cost for calculating the terms of a lease.

Closed End Lease: A lease in which the lessee (That’s you) is not responsible for the value of a vehicle when the lease is done. Except for any excess damage to the car. Also known as a "walk-away" lease.

Residual: A projection of the market value of a vehicle at the end of a lease.

Gap Insurance: A separate insurance from your car insurance that will cover the “Gap” (difference) between the replacement cost paid by insurance and what is owed on the balance in case the car is totaled or stolen.

Wholesale Value: The value that a dealer expects to pay for a vehicle as a trade, in “as is” condition.

Retail Value: See MSRP above

Market Value: The current average selling price.


English? What do you call it?

British Term   American Term
Accumulator   Battery
Bonnet   Hood*
Boot   Trunk
Estate   Station Wagon
Lorry   Truck
Mole wrench   Vice Grips
Nave Plate   Hubcap
Petrol   Gasoline
Roadster   Convertible
Spanner   Wrench
Sump   Oil Pan
Torch   Flashlight
Wing   Fender

* Hood

  • American term for front lid of vehicle, usually covering the engine.
    Or where you live!
  • British term for convertible top.