Glossary of Terms

We know some auto loan terms can be confusing, so we've put together a useful glossary to better help you understand the industry language.

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Credit Bureau

A company or agency that keeps record of your credit history.

Credit History

A record of your financial relationships that allows lenders to determine your ability to repay loans.

Credit Scoring System

A system used to determine a customer’s creditworthiness based on statistical data and credit history

Creditor

A lender that finances a loan.

Creditworthiness

An individual’s ability to repay debts.

Dealership

A company that is authorized to sell certain vehicles by the vehicle manufacturer.