Water

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Water

In auto sales, a slang term for false equity. For example, water occurs when a car owner claims $3,000 in equity on a vehicle when she only has $1,500 in equity.
References in periodicals archive ?
When Makers Mark was thinking of potentially watering down its bourbon, in order to meet the growing demand, they legally could not dilute the bourbon to under 80 proof, 40 percent alcohol by volume.
A BLAZING row broke out yesterday over claims the government was watering down plans for compulsory sex education.
THE City's watchdog is being accused of "capitulation" after watering down key proposals to rein in bank pay.