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Glossary

Automotive Glossary

Learn more about key definitions for the automotive industry. Anything you need to know, a lick away.

A

All-In Pricing

AML Compliance (FINTRAC)

Amortization Period

Annual Percentage Rate (APR)

Appointment Confirmation

B

Balloon Payment

BDC Process

BDC Tools

Business Intelligence Dashboard

C

Call Tracking System

CCTV Surveillance

Certified Pre-Owned (CPO)

Closed-End Lease

Co-signer

Compliance Training

Credit Card Chargeback

Credit Score

Curbsider

Customer Relationship Management (CRM)

Customer Satisfaction Index (CSI)

Customer Self-Service Portal

Cybersecurity Software

Cybersecurity Training

D

Data Breach

Data Disposal

Data Mining Software

Deal Jacket

Dealer Management System (DMS)

Dealer Reserve

Dealer Trade

Dealership Lot Security

Desking Software

Digital Retailing Platform

Disclosure Requirements

Document Management System

Down Payment

E

E-Signature Tools

eContracting

Employee Background Check

Extended Warranty

F

F&I Menu Software

F&I Office

F&I Process

Floor Plan Financing

Floor Plan Payoff

Fraud Detection Software

G

GAP Insurance

I

Identity Theft

Integrated Accounting System

Inventory Audit

Inventory Management System

K

Key Control System

Key Tracking Software

L

Lead Management System

Lease Takeover

Least Privilege Principle

Loan Protection Insurance

Loan-to-Value Ratio

M

Marketing Automation

Mobile App Integration

N

Negative Equity

O

Odometer Rollback

OEM System Integration

On Approved Credit (O.A.C.)

Open-End Lease

P

Parts Inventory System

Parts Ordering Process

Payment Deferral

PCI Compliance

Phishing

PIPEDA Compliance

Pre-Delivery Inspection (PDI)

R

Ransomware Attack

Recall Management

Record Retention Policy

Residual Value

S

Sales Funnel

Service Scheduling Software

Service Write-Up

Social Engineering

Stipulations (Lender Conditions)

Straw Purchase

Subprime Financing

Subvented Financing

Synthetic Identity Fraud

T

Test Drive Procedure

Test Drive Security

Title Washing

Trade-In Appraisal

Turnover (TO) Process

Two-Factor Authentication

V

Variable Rate Financing

Vehicle Delivery Process

Vehicle Lien

Vehicle Reconditioning

VIN Cloning

Virtual Showroom

W

Warranty Claims Process

Website Chatbot

Y

Year-End Inventory Count

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