Here's my thoughts:
Phanton: Creating a car that never truly existed. The Hemmings Muscle Machines 2 months ago had 3 such cars. Basically they were cars restored, ading options that were available at the time, but no such combination was ever actually built.
De-Badging: Removing badges from a car. Today's buyers do this a lot for various reasons. Once such is they by a base model, but want to present the image that it might possibly be an upscale model. Also, they might have bought a perfromance model but want that sleeper image. Think about a 426 Challenger that the owner might want to street race, but doesn't want the competition to know what he has.
Re-Badging: Putting on a badge that indicates something that the car is not (440 Six Pack callout when in fact it is only a 383). Could also be construed as putting the correct badging on to match what the car is, but the car might have started off with different badging and different internals.
