Lease
A contract granting the use of a car for a specified period of time in return for a set fee. Leases may be classified as open ended or closed ended.

Light truck
vehicle weighing less than 14,000 lbs.

Light vehicles
passenger cars and light trucks.

Limited Slip Differential
A differential in a rear-drive vehicle fitted with a mechanism that limits the speed and torque differences between its two outputs. Limited slip ensures that some torque is always distributed to both wheels, even when one is on a very slipper surface.

Lock Up Torque Converter
A torque converter that contains a special clutch that forms a solid connection between the engine output shaft and the transmission input shaft when a certain, pre-set speed is attained. This reduces transmission friction losses and increases efficiency.

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