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 ?
Block and Stalnaker suggest at one point that for an a priori entailment to go through, water must be analyzed as something like `the unique waterish stuff in our environment'.
Even if it is a microphysical fact that [H.sub.2]O is a waterish stuff around here, it is not a microphysical fact that it is the waterish stuff around here.
Although Sir Henry Colt, who stayed on Barbados for two weeks on his way to St Christopher in 1631, did not particularly like the fruit he sampled on the island -- 'some are too sweet, some too waterish, few are good' -- he nonetheless noted the wonderful variety.