Acceleration Clause :
If you default on a loan this clause allows the lender to speed up the rate in which the loan is paid off. This can include an entire balance to be paid off immediately.

Amortization :
Calculates the loan payment including interest on the outstanding balance to be paid off at the end of a fixed period.

Add-ons :
Products or services sold by dealerships that can be added on to the vehicle. Some examples include rust-proofing, upholstery treatments, alarm systems, and extended warranties. Remember that these add-ons will increase the price of the vehicle, and your monthly payment. Also these items are normally marked up outrageously. Also referred to as snake oil by dealers, because it bites you.

Agreement of Sale :
Otherwise known as a sales or purchase agreement, this agreement basically states that the seller is selling and the buyer is buying under a specified set of terms. Both parties would then sign the contract.

Annual Percentage Rate (APR) :
Often confused with interest rate, an APR supplies the cost of credit over the course of a year. It is supplied as a percentage taking into consideration the amount finance, any charges, and the term of the loan.

Appraisal :
An estimate of the value of property, made by a professional appraiser.

Appraisal Fee :
A service fee for estimating the value of property.

Asset :
Property that can be used to repay debt, such as stocks, bonds, cars or a house.

Assumption :
The agreement between buyer and seller where the buyer takes over the payments on an existing mortgage from the seller. Assuming a loan can usually save the buyer money since this is an existing mortgage debt.