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Houston Mortgage > Glossary >
Credit Repair > D 1-10
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Dealer charges
Charges for extra services or products sold by the dealer, including rustproofing, undercoating and extended warranties.
Dealer holdback
An allowance, usually between 2 percent and 3 percent of manufacturer's suggested retail price, that manufacturers provide to dealers. A holdback allowance may allow the dealer to pay the manufacturer less than the invoice price. A buyer could obtain a car below invoice price and the dealer would still make a profit.
Dealer incentives
Programs offered by manufacturers to increase the sales of slow-selling models or to reduce excess inventories. Dealers may elect to pass on the savings to the buyer.
Dealer invoice
The amount that a dealer is invoiced by the manufacturer for a vehicle and any options.
Dealer preparation, or dealer prep
An additional charge that dealers try to impose on buyers. It represents pure profit for the dealers, who have already been paid by the manufacturer for the cost of preparing the car for sale.
Dealer sticker price
This is the Monroney sticker price plus the suggested retail price of dealer-installed options, dealer preparation and undercoating. It usually appears on a separate sticker.
Debit bureau
A service used by banks that will eventually track account opening and closing information, check order history, check writing history, any history of collection activity on unpaid accounts, frequency of debit and ATM card use and household demographics. Under the system, when a consumer presents a check to a participating retailer, the individual''s account is identified by punching a code into a computer or swiping a card containing a magnetic strip or microchip through an electronic reader, which tells the retailer whether to accept or reject the transaction.
Debit card
A payment card that is linked directly to a customer's bank account. Some cards require a personal identification number. Others require a customer's signature. A PIN-based or direct debit card removes a purchase price from a customer's checking account almost immediately. A signature-based or deferred debit card has a Visa or MasterCard logo and removes the purchase price from a customer''s bank account in two or three days.
Debt
Money one person or firm owes to another person or firm.
Debt consolidation
The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan.
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