We've collected many of the terms you'll see in Acura Financial Services documents and provided definitions here.

Please note: The following finance terms and their definitions only apply to financing in the United States, and may not be applicable elsewhere.


The annual percentage rate is a measure of the cost of credit, expressed as a yearly rate.

Business Day

For financial transactions, business days are typically Monday through Friday, with the exception of non-banking days as specified by the U.S. Federal Reserve. For a complete listing, please visit the Federal Reserve web site.

Capitalized Cost Reduction

An initial cash payment on a lease of up to 20%, similar to a down payment. The more you pay at the start of the lease, the lower the monthly payments. This could be in the form of cash, the value of a trade, or a combination of the two.

Down payment

An initial payment when purchasing a vehicle. This payment is negotiable with your dealer.


This is the decline in value of a vehicle over the term of a financing contract or lease.

Early termination penalties

Most leases allow clients to return the vehicle before the end-of-the-lease term. Often, there are additional fees charged to the client if this option is exercised. You should be fully aware of what will be required should you decide to end your lease prematurely. With a lease from Acura Financial Services®, there are no hidden early termination penalties. Make sure to check your lease agreement thoroughly.


The value of your vehicle, minus the total amount owed on it.

GAP (Guaranteed Asset Protection)

Although you may intend to keep a vehicle for the full term of a lease, an accident or theft could cause early termination. Most auto insurance policies pay the average market value of the vehicle, which may be considerably less than the remaining lease obligation. Leases from Acura Financial Services® include GAP protection to cover this difference in the event of such a loss.

Vehicles financed with a retail installment contract from Acura Financial Services® do not include GAP coverage, except in the state of New York. Clients financing vehicles outside New York state may be able to purchase GAP coverage from their dealer.

Purchase price

The selling price of the vehicle plus any additional charges such as taxes, acquisition fees, official fees, and other charges.

Residual value

The projected value of a vehicle at the end of a lease. This value is not negotiable. This value will vary according to the lease terms, mileage allowance and the vehicle's make and model. Vehicles that tend to have a high resale value will also have higher residual values, which typically lead to lower lease payments.


The duration of a lease or financing contract, usually expressed in months (e.g., 36 months).


Acura Financial Services®' free, automatic electronic payment program. EasyPay automatically transfers funds from your checking or savings account each month to make your monthly payment.

Pay Online

A free service that allows Acura clients to make a single, nonrecurring payment online.

Pay by Mail

The traditional approach to paying your Acura bill. Simply return the payment coupon from your monthly statement along with your check or money order.


A payment-by-telephone option that deducts your monthly payment from your checking account. Using ACI Pay does not result in automatic monthly payments. You must call each time you wish to authorize a payment, and there is a small transaction fee for each ACI Pay payment.


A convenient way to make a same day cash payment at any one of MoneyGram's locations. There is a small transaction fee for each MoneyGram payment.

Turn-in Fee

Fee charged for lease after the vehicle is returned to the dealership. Fee may be waived for loyal clients. The turn-in fee amount depends on your state.

Loyalty Requirement

A loyal lease client is one who purchases or leases another new Acura or Honda automobile within 30 days prior to or after the turn-in date.

Now Available on Your AFS Account:
• Schedule Payments – Make your payments same-day or schedule them for a future date.
• Manage Payments – View, modify and cancel payments.
• Payment Notifications – Receive payment reminders and other payment notifications via email and/or text. The choice is yours.
• EasyPaySM Made Easy – Enjoy more flexible EasyPay automatic payment options, including selecting a withdrawal date that works best for you.
• Mobile Friendly – Make your payments on-the-go with our mobile enhanced web pages.