GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Mint Condition


Synonyms:excellent shape, perfect condition, unblemished, untarnished
Filed Under: automotive, financial-banking, real-estate
Tags: automotive, banking, realty
 

Definition of mint condition

mint condition
1. The state or appearance of a building, vehicle, or item that is like brand new.


Related Terms and Acronyms:

  • broom clean   Ready to be cleaned and painted. The term does not mean immaculate or spotless or entirely clean.
  • curb appeal   The look of a house when viewed from the street.
  • mop and glow   A term used inside the car industry to refer to add-ons, especially paint sealant, that do little to add to the value of a car, but a great deal to add to the dealer's profit.
  • resale value   The sales price that would be negotiated by a willing seller and buyer for an existing home or property.

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Important Tip on Credit Card Debt
Credit card interest rates average at around 18.9 per cent. You, like many other Canadians, may have over ten thousand dollars charged to your credit card, but, if you only make the minimum required monthly payment of 2 per cent ($200 the first month) that $10,000 in credit card debt will ultimately take more than 57 years and cost around 40,000 dollars to fully pay off.

Using a home equity loan will allow you to eliminate the high interest credit card (and by eliminate we mean cut up) and consolidate the debt to a low interest rate mortgage payment.
 
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