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If a borrower pledges as collateral a car owned by a neighbor, and the neighbor does not know of and endorse this pledge, then the security agreement is ineffective. However, a security agreement may specify that it includes after-acquired property. If such a specification is included, then a pledge of "all automobiles owned by borrower" would ...
To determine the car's value at the end of your lease, use a site like Kelley Blue Book to calculate the current market value of your leased car. You may want to consider buying the vehicle if the ...
A guarantor is a person who agrees to repay the borrower’s debt should the borrower default on agreed repayments. The guarantor is often a family member or trusted friend who has a better credit history than the person taking out the loan and the arrangement is, therefore, viewed as less risky by the lender.
An automotive warranty is a guarantee provided by a vehicle manufacturer or a third party, ensuring that any defects or issues with a vehicle will be repaired or addressed within a specified period after purchase. [1]
When you lease a car vs. buy a new car, you can often afford to get into a nicer and newer car with a smaller monthly budget. Manufacturer's Warranty Many CPO cars come with a manufacturer's warranty.
Car leases usually allow lessees to either return the car, trade it in for another, or buy it at the end of the lease period. Buying a leased vehicle might be the right move for some people, but ...
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [2]