Independent Dealer Independent used car lots, automobile brokers, and leasing companies are not franchise dealerships. A franchise dealership normally has an affiliation with the manufacturer included in its name. A legal agreement with an insurance company that provides for reimbursement in the case of damage or theft to collateral. WFS requires you to maintain insurance on the vehicle you purchase. Interest A sum paid or charged for the use of money or for borrowing money.
Interest is expressed as a percentage rate for a period of time.
The periodic charge expressed as a percentage for use of credit. The invoice price may not reflect the dealer's final cost due to rebates, allowances, discounts, and incentive awards the dealer may receive. Lease A form of financing in which you can use a vehicle for a period of time in exchange for making payments to the leasing company or creditor. In a lease, the leasing company continues to own the vehicle. Lien A creditor's security interest in your vehicle.