Legal Requirements Perhaps the most compelling reason to have auto insurance is simply the fact that all states require at least basic liability coverage in order to legally drive. The amounts of r...
Business Purpose The IRS defines "business purpose" as having a use that is ordinary and necessary in your trade. You can have a business purpose even if you are self-employed and do not operate an...
Significance An automobile repossession is considered a negative credit event and likely will lower your credit score. Although you're volunteering to return the car, the dealership or creditor can...
Get Your Credit Score Getting a prime or low rate on a used vehicle loan will save you money throughout the life of the loan via lower monthly payments. Lenders will finance you if you have a low c...
Rates When applying for a car loan, your credit rating is taken into consideration. A lender will will look at your credit to determine the risk involved with offering a car loan to you. If you hav...
Third Party This is the legal minimum level of insurance required in the U.K. It provides coverage to anyone who may be affected by your driving and to their property. It specifically does not cove...
Function Car lease payments allow a person to use a car during the period of the lease. Sometimes, though not always, these payments can be lower than traditional car loan payments. The lease payme...
Price Negotiation A private seller may be more willing to negotiate price. While the car dealer or used car sales lot is motivated by private and will not drop the priced beyond a certain level, th...
Research, Shop and Negotiate Step 1 - Use popular internet pricing guides to determine what the invoice price is on the vehicle you want. You will find that many dealers do not order the cheapest m...
Fair Market Value A bank usually calculates the value of a vehicle used as collateral for a loan at the vehicle's fair market value. This is the price that the majority of other comparable vehicles...
