GLOSSARY
Accounting Balance
A portion of the outstanding balance comprising of finance charges (excluding
the original cost of the vehicle). An amortization schedule is available
upon request at our Customer Service Department on 0861 324 653 or fax
(012) 660 7219 or simply send us an e-mail.
Capital Balance
A portion of the outstanding balance comprising the original cost of the
vehicle. An amortization schedule is available upon request at our Customer
Service Department on 0861 324 653 or fax (012) 660 7219 or simply send
us an e-mail.
Deposit
A deposit is an initial payment to be made at the beginning of a finance
agreement. A deposit is not mandatory but may be required by the Credit
Department.
Disposal Risk
Disposal risk is associated with selling your vehicle at the end of the
agreement, i.e. finding a buyer and getting a fair price for your vehicle.
Final Payment
Final payment is a lump payment usually payable at the end of the agreement.
Depending on the finance agreement you have decided on, several options
are available.
Fixed Interest Rate
A finance agreement signed-up with a fixed interest rate, the monthly
repayment will not be adjusted according to changes in the predetermined
market rate.
Fleet Management
debis Fleet Management, a subsidiary company of Mercedes-Benz Financial
Services, offers fleet management. This entails administration services
for more than one vehicle.
Off-Balance Sheet Funding
Financing your vehicle in such a way that it is not reflected on the balance
sheet of your business or employer. This facility is available to you
because Chrysler Finance and *Insurance is prepared to carry the risk
on certain finance agreements.
Principal Debt
The principal debt consists of the cost of the vehicle plus finance charges
for the entire period of the agreement.
Settlement
Early settlement involves the paying of the outstanding balance before
the end of the agreed period of your agreement.
Wear and Tear
Wear and tear entails the loss of value due to the usage of a vehicle
for business purposes. The wear and tear amount can be claimed as a business
expense.
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