maintenance contract
An extra-cost contract that you may buy to cover some or all of the vehicle's regular maintenance and servicing. It is not an Extended Warranty or Service Contract, which covers repair of a vehicle or replacement of parts in case of failure or malfunction beyond the terms of the manufacturer's warranty.

manufacturer's rebate
see rebate.

margin
The number of percentage points added to an index to calculate the interest rate on an adjustable rate loan at each adjustment.

Marine Appraisal Guide
Reference guide published by N.A.D.A. listing resale value of used boats.

marine survey
An extensive examination of a boat resulting in a comprehensive written report. Boat buyers will often commission a marine survey before purchasing the vessel.

marine surveyor
An individual who conducts marine surveys. Care should be taken when selecting a marine surveyor as they are not licensed. Marine insurance agencies and brokers can often recommend reputable local surveyors.

maritime lien
A claim by one person on the boat of another for payment of a debt. Maritime liens do not need to be written and filed to be legal and are effective immediately upon completion of work by a mechanic, salvor, or other service provider.

marketable title
A title that is free and clear of liens, clouds, or other defects that would prevent the sale of the property.

market rate
The average rate charged by lenders for conventional, fixed-rate loans.

market value
The highest price that a buyer would pay for a vehicle and the lowest price a seller would accept.

mark-up
The difference between the invoice price and the dealer's selling price.

MSRP
Manufacturer's suggested retail price. The price the manufacturer recommends for a vehicle. Also called the "sticker price" or "list price."