Glossary

0% Finance

Some manufacturers offer 0% APR finance on certain models. If this is not listed under the finance section by each offer then it is not available. Minimum deposit terms usually apply.

See our blog post What is 0% finance? to learn more.

Adaptive Cruise Control

A system that will maintain the speed you set, but will slow down to account for slower cars ahead of you, meaning you can relax a bit more behind the wheel. Usually works using radar.

See What is adaptive cruise control? to learn more.

Added Charges

On some finance documents there is a line called 'Added Charges', this is simply the interest they charge

Additional Options

These are options which you either specified when building the car on carwow or come as standard on the car, but can be changed. E.g. Black Cloth Interior may be a standard no-cost options which appears on the list of additional options. It appears on the list as there may be another cloth colour which is also free of charge.

Allocation

Each dealer has a certain number of cars for different factory order build slots. E.g. They could have 10 slots to build a model of car in one month. Some dealers can offer quicker delivery if they haven't yet filled their allocation for an upcoming month

Annual mileage

When taking finance the distance you cover will determine the price per month. The average annual mileage is 10,000. The are charges for going over this limit, the charge per mile will be stated in the finance documents.

APR

The annual percentage rate which is the interest that applies to the finance. The APR on new cars doesn't change between main dealers of the same brand.

Broker

These are telephone companies where you can buy a car from them. They normally deal with preregistered or imported cars and often have hidden fees to pay if you buy a car from them. Unlike carwow, they don't tell you where you are buying the car from.

At Port

If a dealer refers to a car "at port" it means they have a car which is currently on its way from the factory, so may still be a couple of weeks away from arriving in their showroom.

carwow Dealer

We only work with official franchised dealers with a showroom just like your local dealer has that you can visit. We negotiate large discounts for carwow users with them in return for providing a large volume of sales. They commit to offering not only the best prices they can do but also providing the best possible buying experience.

Cash Buyer

Refers to someone who is buying a car in full, i.e. not taking finance. Doesn't mean you literally pay in cash, normally by cheque or bank transfer.

Contrary to popular belief, cash buyers rarely get a better deal than finance buyers.

carwow Offer

The best offer a dealer through carwow can do. The initial offers are always on an unregistered new car and include VAT, 12 months road tax, first reg fee and numberplates. There are no hidden costs to pay.

Certified carwow dealers

An official franchised dealer that has passed our rigerous screening critera to be allowed to use carwow. carwow Certified Dealers commit to offering a great upfront price and excellent customer service.

Demo/Ex-Demo

A car that a dealer has been using for test drives. Usually pre-registered.

Deposit

To place an order with a carwow dealer they will ask for a deposit to secure the car and place the order. This is usually between £250 and £1,000, depending on the value of the car, and is paid directly to the dealer, either in the showroom or over the phone, via credit or debit card. The dealer will then post you a receipt and an order confirmation form.

Deposit (Finance)

To get finance on a car you normally need to pay a deposit, which is paid when you collect the car. The higher the deposit the less the monthly cost will be, as by paying a bigger deposit you are reducing the amount of money you are borrowing. Most finance offers allow you to choose the level of initial deposit you want to pay.

Deposit Contribution

Some finance offers include an extra discount that means you don't have to pay as much initial deposit. E.g. If a car has a £1,000 deposit contribution it means there is an extra £1,000 off the offer if you take finance

DSG Gearbox

Stands for direct-shift gearbox and is the normal automatic transmission fitted to Volkswagen, SEAT, Skoda and Audi models.

See What is a DSG gearbox? to learn more.

Electronic handbrake

A system that replaces the traditional lever-operated handbrake with an electronic switch – it usually automatically switches off as you attempt to drive off.

See What is an electronic handbrake? to learn more.

Excess Mileage

If you take PCP finance on your new car you can decide how many miles you will do each year. If you exceed the annual mileage then there will be an upfront cost per extra mile. The average mileage for a UK driver is around 10,000 miles a year.

Factory Order

A car that is built at the factory for your exact specification. The wait time is normally a couple of months, and this wait time can vary between dealer. E.g. One dealer may be able to get a factory order with a lead time of 2 months, whereas others are 4 months. It's worth contacting each dealer to find out.

First Year Road Tax

Each offer from a dealer on carwow includes 12 months road tax

Franchised Dealer

An official dealer licenced by the car manufacturer to sell their new cars. Every franchised dealer for a car manufacturer has the same finance rates, the cars are exactly the same, the warranty is the same and the car can be serviced as absoutely any other franchised dealer.

All dealers on carwow are official franchised dealers. Also known as a main or official dealer.

GAP Insurance

Guaranteed Asset Protection (GAP) Insurance protects the value if the car is written off or stolen. We've written a guide to GAP Insurance and if it's worth the money.

GMFV

Guaranteed Minimum Future Value is used in a PCP quote to determine the lowest value the manufacturer can guarantee the car will be worth at the end of the finance period.

See What is personal contract purchase (PCP) finance? to learn more.

Grey Import

A car imported from another country. No cars sold via our dealers are imports – they are all UK spec cars, the exact same cars your local dealer sells. We strongly advise never buying an import car.

Hire Purchase (HP)

Hire Purchase (HP) is very similar to borrowing a sum of money from a bank and paying it back over a fixed period of time, with interest.

See What is Hire Purchase (HP) finance? to learn more

Import

A car imported from another country. No cars sold via our dealers are imports, they are all UK spec cars, the exact same cars your local dealer sells. We strongly advise never buying an import car.

In Stock

Cars that the dealer has sitting in their showroom that they can sell and deliver quickly too you. All dealers have a small number of cars in stock, it's worth contacting them to find out if they have anything similar in stock

Lane assist

Lane assist systems monitor the car’s position on the road, detect if the driver is unintentionally leaving their lane and react either through warnings or by actively steering the car back into its lane.

See What is lane assist? to learn more.

Lead Time

The time that it will take for the car delivered. Many cars have a lead time of many months, as this is the time the factory takes to build the car. If you want quicker delivery then contact each dealer on carwow to ask them if they have anything similar in stock.

See our article on new car lead times here

List Price

The RRP of the car that the manufacturer sets. The RRP includes road tax, first reg fee and all the other cost, just like the offers on carwow do

Main dealer

An official dealer liscenced by the car manufacturer to sell their new cars. All dealers on carwow are official main dealers. Every main dealer for a car manufacturer has the same finance rates, the cars are exactly the same, the warranty is the same and the car can be serviced as absolutely any other main dealer. Also known as a franchised or official dealer.

Manufacturer Finance

Finance rates that the car manufacturer can provide. These do not vary between official franchised dealers. All main dealers have the same rates and offers, so whoever provides the cheapest offer will also provide the cheapest finance

New car

An unregistered car sold through an official franchised dealer. All new cars from official franchised dealers come with a manufacturer warranty and can be serviced anywhere.

No Hidden Costs

All carwow offers are free from any hidden costs. Some dealers elsewhere have been known to forget to include things such as VAT or road tax in their offers. This is all included in every offer on carwow.

New reg

Car registration numbers in the UK are changed every 6 months, in March and September. If a dealer says "In time for the new reg" it means you can collect or have the car delivered to get the upcoming registration plate number.

Offer

The price a carwow dealer will sell the car for. It includes VAT, 12 months road tax, first registration fee and numberplates. There are no hidden costs and no fee to carwow ever.

Official dealer

An official dealer liscenced by the car manufacturer to sell their new cars. All dealers on carwow are official main dealers with a showroom just like your local dealer. Every main dealer for a car manufacturer has the same finance rates, the cars are exactly the same, the warranty is the same and the car can be serviced as absolutely any other main dealer. Also known as a franchised or main dealer.

OTR

On the road price. Includes VAT, 12 months road tax, first registration fee, numberplates. All offers through carwow are on the road offers free of any hidden costs

Paint Protection

All dealers can offer paint protection kits, which use special products to protect that new car shine.

Personal Contract Purchase (PCP)

PCP is a type finance where you pay a monthly rate and at the end of the term have the option to purchase a car the cat a Guaranteed Minimum Future Value (GMFV). At the end of the term you can either return the car back at no cost or buy the car for the GMFV.

See What is personal contract purchase (PCP) finance? to learn more.

Pre-Registered Car

A car where the dealer is listed as the first owner. It can still be a new car, with no mileage, but some dealers choose to register cars to themselves in order to hit sales targets for a certain period. Also known as a 'pre-reg' car. All offers on carwow are for an unregistered car, where you are the first owner, unless very clearly stated.

See our blog post What are pre-registered cars? to learn more.

Part-Exchange (PX)

A part-exchange is where you buy a new car off the dealer and also sell them your old car. Dealers on carwow can do this, but we recommend selling your car privately as you will get far more money for your old car and then get the maximum discount possible for the new car too. Also known as a trade-in

Residual Value

A guaranteed minimum future value that is given if you take finance. It guarantees how much your car will be worth to the finance company at the end of the agreement.

Road Tax

Each offer on carwow includes 12 months road tax. How much this is worth depends on how much CO2 the car produces, it ranges from free on some cars to many hundreds of pounds on more polluting cars.

RRP

The Recommended Retail Price of the car that the manufacturer sets. The RRP includes VAT, road tax, first reg fee and all other costs, just like the offers on carwow do

Servicing

Any new car bought from an official main dealer can have servicing done at any other official main dealer. This includes any servicing done within the first year, over the life of a servicing plan or general repairs. Dealer make the majority of their money on servicing so will welcome any servicing business they can get!

Servicing Packs

Optional packs which cover a number of years servicing. E.g. A manufacturer may sell a 3 year servicing pack which covers the cost of any services within the next 3 years. As with any servicing, this can be carried out at any official main dealer regardless of where you buy the car from.

Showroom

All official franchised dealers have showrooms which you can visit. All dealers on carwow are official franchised dealers so have showrooms you can visit and collect the car from, just like your local dealer.

Trade-In

A trade-in is where you buy a new car off the dealer and also sell them your old car. Dealers on carwow can do this, but we recommend selling your car privately as you will get far more money for your old car and then get the maximum discount possible for the new car too. Also known as a part-exchange (PX).

Unregistered Car

A new car which you are the first owner for. As opposed to a pre-registered car, where the dealer is the first registered owner. All offers through carwow are for an unregistered car, unless very clearly stated

VAT

The tax charged on a new car, currently 20%. All offers on carwow include VAT, there are no hidden fees to pay.

Warranty

Every new car comes with a manufacturer warranty. The length and terms of the warranty are the same across all UK main official dealers. Any warranty repairs can be carried out at any main official dealer, regardless of where the car was bought from.