m - Car Finance Glossary

• Home
• Mortgages
• Cards
• Loans
• Investments
• Banking
• Pensions
• Insurance

M

Manufacturer's deals
Although usually limited to new cars, special promotions and certain models, dealers and manufacturers special offers can be of interest. Lenders will often try to entice customers with low interest or interest free offers..

Minimum Guaranteed Future Value (MGFV)
When you defer a percentage of the total cost of the car to the end of the contract, the value is assessed and termed the MGFV. The MGFV plus the deposit is subtracted from the selling price of the vehicle, and your monthly repayments are assessed on the balance of the money. Once the agreement matures, you can choose a final balloon payment to secure the car.