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Important terms − the Glossary

With Alphera it has never been as easy to finance the car of your dreams. Should you still have any questions – you'll find the answers here.

Balloon finance

Method of finance by instalments in which in addition to regular monthly payments a higher final instalment is agreed with which the loan is finally discharged. This lowers the monthly payment and combines the advantages of leasing and financing.


Contracting party of the lender or the bank. The person who signed the loan agreement and usually receives the amount paid out.


Your failure to meet one or more conditions of your finance agreement. Default may result in early termination of the finance agreement.

Final repayment

Payment of the (final) instalment that discharges the loan. Afterwards title to the vehicle is transferred to the borrower.


Purchase of an item through a loan or lease over a certain period of time with fixed monthly payments.

Follow-up finance

After the expiry of a final instalment finance agreement, it is possible to conclude another agreement immediately.

Instalment credit

An instalment credit is a loan repaid in fixed instalments over a certain period.


The bank that provides a loan in return for an appropriate amount of interest.


Amount that is provided to a borrower by a bank or finance company in return for an appropriate amount of interest and based on numerous terms and conditions.

Loan agreement

Agreement between the bank and the borrower on the extension and repayment of a loan.

Purchase finance rate

The interest rate used to compute your monthly finance payment.


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