Warranty:
Promises made about a vehicle.These promises include the vehicle condition and what happens if there are problems.There are many types of warranties including:
After Market
Manufacturer
Extended
Limited
Parts and Labour
Implied)
Each type of warranty has specific kinds of promises.
Worksheet:
A rough draft of a purchase agreement. A worksheet gives the buyer a general idea of the price of the vehicle. It includes the cost of options and applicable taxes and fees. The worksheet will also show the value of any trade- in. Buyers are often asked to sign a worksheet as a show of good faith…
Write-Off:
Status given to a vehicle that is written off as a "total loss" by an insurance company.
