Auto Glossary letter W

May 15, 2007

Auto Glossary letter W

Waiver
    The agreement to forego premium payment during a period of disability.

Walk-Away Lease
    Another name for a closed-end lease. A leasing contract in which the residual value, or final value, of the vehicle at the end of the term, has been specified. The lessee is not required to buy the vehicle, or make up any shortfall in its residual value.

Water Pump
    The pump that circulates coolant through the engine block, cylinder head and radiator. It is driven by the engine crankshaft.

Wear and Use
    Normal depreciation of a vehicle under average daily use.

Wheel Size
    Determined by the diameter and width of the wheel on which the tire is mounted. A 15-inch wheel has a diameter of 15 inches. A 15 X 7 wheel has a 15-inch diameter and a 7-inch width.

Wheelbase
    A mainstay in drag races, this refers to when the front end of car lifts up during a race. It is also known as a wheelie.

Wholesale Value
    The price that the retailer expects to pay for a vehicle.

Winston Cup
    The creme de la creme of NASCAR racing, the drivers are going for all the marbles in this race that spans the entire season as drivers accumulate points at each of 31 events. The driver that accumulates the most points, not the most wins, becomes the eventual Winston Cup winner.

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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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