The VSA's glossary of terms
An odometer is a device used for indicating distance traveled by an automobile or other vehicle. It may be electronic or mechanical.
|Offer to Purchase||
A formal legal agreement which offers a specified price for a specified vehicle. The offer may be firm (no conditions attached) or conditional (certain conditions apply).
|Option to Purchase||
Also known as Lease Purchase Option. It grants the lessee the right to purchase the vehicle during the term of the lease. The lessee can gain credit towards the purchase price with each lease payment.
|Owner's Certificate of Insurance and Veh||
The top 2/3 of the document you get from your broker when you register, license and insure your vehicle. The signed certificate must be carried in your vehicle as proof that the vehicle is licensed and insured.
Tip of the Week
April 08, 2013
April 05, 2013
March 26, 2013
March 20, 2013
March 19, 2013
March 11, 2013