Remove Fair Market Value Remove Finance Remove Term
article thumbnail

Smart Tips for Buying a Pre-Owned Chrysler, Dodge, Jeep, Ram, or Fiat Vehicle

Market Doctors

When exploring different options, consider factors such as fuel efficiency, safety ratings, long-term reliability, maintenance costs, and overall performance. Taking the time to thoroughly evaluate the vehicle during your test drive can give you valuable insights into its performance, reliability, and long-term suitability for your needs.

Finance 95
article thumbnail

Negative equity in car – cover with down payment or use for newer vehicle?

Shawn Ryder

When purchasing a new vehicle, it’s not uncommon to come across the term “negative equity.” Understanding Negative Equity Negative equity, also referred to as being “upside down” on your loan, occurs when the amount you owe on your vehicle exceeds its current fair market value.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Is this a strange dealer discount on a new vehicle?

Shawn Ryder

These discounts can take various forms, from cash rebates to financing incentives and trade-in offers. Financing Incentives: Low-interest rates or special financing terms can make a vehicle more affordable over time. Trade-In Offers: A higher trade-in value can offset the cost of a new vehicle.

article thumbnail

Using a credit union and negotiating with the car dealer?

Shawn Ryder

When it comes to buying a car, knowing how to use financing options like credit unions and negotiating effectively with car dealers can lead to significant savings and a better overall experience. Credit unions often provide competitive financing rates that can enhance your negotiation power at the dealership.

Finance 52
article thumbnail

Is it normal for a sales guy to keep lowering the monthly payment because he keeps “lucking out with my manager”?

Shawn Ryder

Understanding Car Sales and Payments Before we explore the implications of a salesperson adjusting payments, it is essential to grasp how car financing works. Trade-In Value: The worth of your old vehicle, which can lead to lower financing amounts. Interest Rate: The percentage charged on the financed amount.

article thumbnail

Step-by-Step Guide How to Negotiate a Car Price

Car Examer

Know the Market Value: Use online resources to determine the fair market value of the car you’re interested in. Knowing the car’s value helps you recognize a good deal when you see one. You’ve successfully navigated one of the most significant purchases most people make, and you did it on your terms.

Rebate 59
article thumbnail

Am I shopping for a car correctly?

Shawn Ryder

Financing Options: Explore different financing options. Look into your bank or credit union rates, as well as dealership financing. Local Market Pricing Investigate local market prices for the vehicles youre interested in: Use price comparison websites to track fair market value based on your location.