About Contact Feedback Site Map
 

 
 




 


 

 

Home    

Glossary

A l B l C l D l E l F l G l H l I l J l K l L l M l N l O l P l Q l R l S l T l U l V l W l X l Y l Z

MPG (Miles Per Gallon)
The number of miles driven divided by the gallons of fuel consumed.

Miles Per Gallon (MPG)
The number of miles driven divided by the gallons of fuel consumed.


MPH
Miles per hour

 

Master Cylinder
A cylinder containing a moveable piston actuated by foot pressure producing hydraulic pressure to push fluid through the lines and wheel cylinders and force the brake linings or pads against the drum or disc.


Motor

Principally a machine that converts electrical energy into mechanical energy.

Muffler
A chamber attached to the exhaust pipe in which the exhaust gases expand and cool. It is usually fitted with baffles or porous plates that reduce or muffle the noise created by the exhaust.

 

MSRP
Manufacturers suggested retail price.

Manufacturer Discounts
In some leases, particularly subvented leases, the manufacturer reduces the MSRP, which lowers the purchase price of the vehicle, which the lease is based on. This is a form of capitalized cost reduction.


Mileage Allowance
Mileage Allowance Lease agreements usually establish the average miles per year that the car may be driven during the lease. This is often between 12,000 and 15,000 miles. The lease contract also establishes the amount you'll have to pay for every mile driven over the allowance. This mileage fee is usually 15 cents per mile. You can often purchase additional miles at the start of the lease at a discounted rate. If you're sure you're going to drive more than the number of miles allowed, then your best option is to negotiate for a higher allowance on the lease.


Money Factor
The most common way to express the base interest rate of a lease is as a money factor. If you multiply a money factor by 2400, the result will be equivalent to the base interest rate. The money factor of most leases is known by a dealer's sales staff. The money factor measures the cost of money, just like an interest rate. However, money factors are used almost exclusively in leases, whereas interest rates are used everywhere else.

Monthly Payment
The amount that must be paid each month to satisfy the lease contract. It is common for the monthly payment shown in lease advertisements to exclude applicable taxes, which will add to the amount paid each month.

Print This Page   Email This Page

 

Privacy l Terms & Conditions l Help

Copyright 2004 Auto Expert