Debit Card (EFT Card) :
A card that looks fairly identical to a credit card that an individual can use to make purchases and other electronic transactions. The advantage of this card is that you are not adding to your debt, just withdrawing money from your bank account.

Dealer Holdback :
An allowance paid by the manufacturer to the dealer to allow the dealer to purchase a vehicle for less than the invoice price.

Dealership :
A company authorized by a manufacturer to sell that manufacturer's products.

Default :
Failure to repay a loan or otherwise meet the terms of your credit agreement.

Deferred Interest :
See Negative Amortization.

Delinquency :
Failure to make payments on time.

Depreciation :
Decline in value of a vehicle due to wear and tear or any other reason.

Destination Charge :
The fee charged by the manufacturer to ship the vehicle to the dealership. This fee is passed on to the customer, and is included on the sticker.

Disclosures :
Information about a vehicles history that is given to the consumer, such as accidents or repairs that has been done to the car.

Discount Points :
Prepaid interest assessed at closing by the lender. Each point is equal to 1 percent of the loan amount (e.g. two points on a $100,000 mortgage would cost $2,000).

Down Payment :
The amount of money that is initially deposited to lower the amount financed.

Earnest Money :
Money given by a buyer to a seller as part of the purchase price to bind a transaction or assure payment.

Electronic Fund Transfer (EFT) Systems :
A technology for transferring funds electronically rather than by check.

Equal Credit Opportunity Act (ECOA) :
Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs.