Fair Market Value Insurance Term 
Shawn Ryder
JANUARY 17, 2025
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.
Market Doctors
FEBRUARY 21, 2024
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.
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Shawn Ryder
JANUARY 22, 2025
Additional Costs: Remember to include taxes, registration, insurance, and any potential maintenance costs in your budget planning. 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.
Shawn Ryder
JANUARY 24, 2025
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. This can lead to what is termed a “discount effect,” where the mere presence of a discount can sway decision-making.
Carcloud Auto Group
DECEMBER 9, 2024
Another advantage is the lower insurance premiums associated with used cars. Typically, insurance costs are based on the car’s value, so a less expensive vehicle will often come with lower rates. Start by researching the fair market value of the vehicle using online resources, such as Kelley Blue Book or Edmunds.
Your Car Buying Advocate
JULY 31, 2023
We’ll explain these terms in a way that’s easy to understand, so the next time you’re at the dealership, you’ll feel like a car-buying expert. MSRP and Invoice Price Let’s start by learning two important terms: MSRP and Invoice Price. In today’s market, dealerships are adding markup’s.
Carcloud Auto Group
FEBRUARY 13, 2025
Be sure to inquire about interest rates, loan terms, and any hidden fees. To start, research the fair market value of the vehicle you are interested in. Be sure to evaluate the terms of these plans carefully. This includes factors such as taxes, registration fees, insurance, and expected maintenance costs.
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