Auto Glossary letter G

May 14, 2007

Auto Glossary letter G

GAP Insurance/Protection
    Stands for Guaranteed Auto Protection insurance. Extra insurance for lease customers to cover the difference in the actual value of the vehicle and whatever is owed on the lease. Important if the car is stolen or totaled early in the lease term. It also covers the difference in value between what may be paid by an insurance carrier and what is still owed to the leasing company, including future lease payments.

Gas-Charged Shocks
    Also called gas-filled shocks. They are shock absorbers filled with a low-pressure gas to smooth the vehicle's ride during up-and-down movement.

Gasket
    Any thin, soft material installed between two metal surfaces to create a good seal.

Gasoline Alley
    This is the garage area at Indy, where major mechanical work is done on the cars.

General Property Taxes
    Any tax on real estate or personal property.

Good Faith
    A code of conduct between parties emphasizing honesty during the transaction.

Grand National Circuit
    This was the previous name for Winston Cup Racing before R.J. Reynolds became the sponsor in 1972.

Grand Prix
    A type of car race popular in Europe. Also, a French term meaning great prize.

Gray Market Vehicle
    Any car that is imported, but not through authorized retailers. May have insufficent emissions standards.

Greenhouse
    Used in automotive circles to describe all of the windows enclosing the passenger compartment.

Grille
    An opening in the front of the vehicle that allows air to reach the radiator.

Gross Income
    The income of the borrower before taxes or expenses are deducted; used to qualify for a loan or a lease.

Gross Vehicle Weight Rating
    The curb weight of the vehicle plus the maximum load it is designed to carry.

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INDEX

Please note that the definitions included in this Auto Glossary reflect the manner in which these terms are used on the Duipee.com website, which in some instances may differ from their meaning in other contexts.
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