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What if the bank didn't try to sell your car for fair market value?
Wiki User
∙ 20y ago
The financial institutions use auctions for such issues. They, for the most part, do not have lots where they will attempt to sell the vehicles. They cut their loss and auction them off to recoup what they can prior to the end of any fiscal reporting for that quarter. So the A to your Q is they take what it sells for at auction, which is far less than market value! It sucks for all parties involved. They take the loss which in turn is past on to you, the person the car was taken from. You are now responsible for the difference of the balance. Hope this A your Q.
Wiki User
∙ 20y ago
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What is FMV stands for?
Fair Market Value
What is net fair market value?
The fair market value is the price of a property that may be sold and bought. It assumes both buyer and seller know everything about the property.
Which of these is a document that gives an estimate of a propertys fair market value?
appraisal
What is the name of a document that gives an estimate of a property's fair market value?
appraisal...
What does NAV stand for in reference to finance?
NAV stands for Net Asset Value. The net asset value for any item is fair market value minus any outstanding loan costs. For example, a home with the fair market value of $100,000 and a loan balance of $75,000 has a NAV of $25,000.
Why will a bank only consider deed in lieu if the fair market value of the property is BELOW the value of the debt?
Nice share
The marshalls insured their home for 72000 which is 90 percent of the fair market value what is the fair market value of their home?
$80,000
How can you determine the fair market value of a used bucket truck?
You can look on the internet to find the fair market value for trucks and other vehicles. You can also pick up a book listing the Fair market value in a store. Usually these are free.
What is FMV stands for?
Fair Market Value
What is the property tax rate in British Columbia?
Property Transfer Tax RatesThe amount of tax due depends on the fair market value of the property that is transferred:If the fair market value is $200,000 or less, the tax is 1% of the fairmarketvalue.If the fair market value is greater than $200,000, the tax is 1% of the fairmarket value up to $200,000, plus 2% on the portion of the fair market value that is greater than $200,000.For example:if fair market value of property is $150,000tax payable is: 1% of $150,000 = $1,500if fair market value of property is $250,000 tax payable is: 1% of $200,000 = $2,000 plus 2% of $50,000 = $1,000 for total tax payable of $3,000
What is the value of a Westward Journey Nickel Set?
FAIR MARKET VALUE ABOUT $2-$3 . fAIR RETAIL ABOUT $5
What is Book value vs fair value?
Book value is the value of asset shown in financial statements while fair value is the value at which asset can be sold in market
What is net fair market value?
The fair market value is the price of a property that may be sold and bought. It assumes both buyer and seller know everything about the property.
What is Market to market accounting standards?
I think you mean "Mark to Market" which is an accounting technique in which assets are valued at their current market value and not a previous value or future value. Mark to Market is also known as "Fair Value" accounting.
How do you calculate Non Current Liability?
fair market value
What is the fair market value for 2003 impala?
check out bluebook.com
What is a fair value for the gold market?
A fair value of gold depends on the currency and a fair price can only be estimated at an exact time of purchase. Therefore fair values can range considerably.
