E - Escrow account

05 June 2006

Escrow account - A neutral deposit account in which someone buying a car from abroad can leave their cash until they are satisfied that the vehicle is exactly what they ordered. The foreign dealer can order the car in the knowledge that the money is available, but the buyer has the security of knowing that the cash is protected until they have checked the car over.


Want to know the difference between your APRs and your PCPs? Our Glossary will guide you through the minefield of car-buying terms.

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