rebate
A special payment from the manufacturer to the customer to promote sales of slow-selling models. Also called a customer incentive.

reclamation
The right of the person with title to a vehicle to recover it from the debtor in case of a bankruptcy.

reconveyance
The transfer of a vehicle back to the owner when a loan is fully repaid.

recording
The act of entering documents concerning title to a vehicle into the public records.

refinancing
The process of paying off one loan with the proceeds from a new loan secured by the same vehicle.

repossession
see foreclosure.

retail low price
The lowest suggested resale price for a pre-owned vehicle. Private parties, banks and insurers use these price listings to help determine the amount to pay or finance for a pre-owned vehicle.

retail high price
The highest suggested resale price for a pre-owned vehicle. Private parties, banks and insurers use these price listings to help determine the amount to pay or finance for a pre-owned vehicle.