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Grace Period:
The time during which interest adds up on a vehicle loan. The buyer must only pay this added interest if the loan conditions are not met. For example, if the buyer fails to make a payment, the buyer must pay this added interest. the agreement, for example, by defaulting on payments.
GVWR (Gross Vehicle Weight Rating):
The maximum allowable total weight of a motor vehicle or trailer when loaded. This weight includes the vehicle itself plus fuel, passengers, cargo, and trailer.
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