Is there a better term than Hinayana?

I'm aware that using the term Hinayana isn't ideal as it has derogatory undertones - being coined by the Mahayana school to differentiate themselves from what had gone on before. The implication being that the Greater Vehicle of the Mahayana is better than the lesser vehicle of the Hinayana. So is there another term that can be used? I have often heard Theravada being used interchangeably. I'm not convinced that's right since I'm sure there are other 'Hinayana ' schools that aren't Theravadan, particularly considering ancient schools that don't exist now.