Car finance glossary | N

Negative Equity

Negative equity is the term used to describe when cost of a loan exceeds the cost of the asset used to secure it.
Negative Equity Explained >

Net Income

Net income is the amount of money you earn each month minus the total income tax or other levies you pay such as National Insurance or Pension schemes. Net Income does not commonly take into account rental costs or other regular monthly payments not explicitly tied to your employment income.
Net Income Explained >

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