Terms to Understand When Buying a Car

Buying a used car in Meadville, PA can be a fun experience if you understand key terms used by lenders and salespeople. One of the key terms that you will hear about is the finance charge. This is another way of saying interest payment, and it represents what you pay to lenders for the right to borrow money.

You may also be required to pay a document fee and DMV fees when buying a used vehicle. A document fee is simply what Griffin Kia or another seller will charge to process the sale. Typically, sales taxes and registration fees are paid to the DMV, but a dealer will collect and remit them for you.

The sales tax is a set percentage of the sale price, and this rate varies depending on where the vehicle is purchased. In most cases, states base their registration fees on how much the car weighs.

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