Tresl Blog

Two people doing the math to understand what a loan to value ratio is
General Auto Finance Education
Britta Retherford

What Is A Loan To Value Ratio?

A loan to value ratio, or LTV, is simply the ratio of a loan amount to the market value of the asset to be purchased with the loan. LTV is a measure of risk. It describes how much of a loan is backed up by real world value.

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What Is An Excess Mileage Fee
Lease Purchase
Britta Retherford

What Is An Excess Mileage Fee?

Most car lease agreements stipulate the maximum number of miles per year a lessee is expected to drive his/her leased car. Oftentimes, if a lessee exceeds his/her allotted mileage, then at the end of the lease he/she will have to pay an excess mileage fee.

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A person calculating the credit consequences of auto refinance
Auto Refinance
Britta Retherford

The Credit Consequences of Auto Refinance

If you have determined that refinancing your auto loan is the right move at the right time, it is wise to understand the impact an auto loan refinance will have on your credit report. In the short term, the hard credit inquiries registered by new finance sources will lower your score by a few points.

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An infographic showing the facets of GAP Coverage
General Auto Finance Education
Britta Retherford

What Is GAP Coverage?

Guaranteed Asset Protection (also known as “GAP Protection,” “GAP Coverage”, or simply “GAP”), protects you from paying for a car that no longer exists because of an accident or theft.

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What Is Tire and Wheel Coverage
General Auto Finance Education
Britta Retherford

What Is Tire And Wheel Coverage

Tire and Wheel Protection Plans supplement your insurance coverage, protecting you from paying for damage to your car’s tires and wheels when your insurance may not.

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What Is A Fleet Vehicle?
Company Car Purchase
Britta Retherford

What Is A Fleet Vehicle?

A fleet of vehicles is a group of vehicles owned by an organization as opposed to an individual or a family. The fleet vehicles that most people are familiar with are lease vehicles, rental cars, and company cars.

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A Dictionary full of car lease terminology
Lease Purchase
Britta Retherford

Car Lease Terminology

Car lease contracts are full of words and phrases that may not be familiar to you. Whether you are considering leasing a new car or buying your current leased vehicle, it is important that you understand the terms of your lease contract.

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What Is a Wear and Tear Fee?
Lease Purchase
Britta Retherford

What is a Wear and Tear Fee on a Lease?

Under a car lease, a lessee does not have any ownership of his/her leased car. Lessees simply pay for the right to drive a car owned by his/her leasing company. For this reason, most car lease car agreements stipulate the kind of condition the leasing company expects the car to be in once the lease ends and the car is returned.

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