Comments on: Car Finance Places You on the Top Gear While Buying a Car

By: Moionfire

Moionfire — Thu, 11 Mar 2010 13:24:24 +0000

God, Niall Ferguson is a hot man…

By: X-Malleus

X-Malleus — Thu, 11 Mar 2010 12:45:36 +0000

A "finance charge" is the fee you pay the bank for the convenience of them letting you borrow money. Some banks calculate your finance charge based upon your average daily balance within the month, while some calculate based on your balance at the time your invoice closes.

When you go about signing up for a credit card, the details will let you know what type of APR you'll be getting. With it being your first credit card, you're likely to get an APR around 20%. That means, the interest you'll be charged YEARLY is 20%. To find what you'd be charged monthly, simply divide it by 12; it would end up being 1.67% per month.

As an example, if your balance was $100, your finance charge would be $1.67. That sounds cheap, but just remember, it adds up.

By: zak-civic00

zak-civic00 — Thu, 11 Mar 2010 11:00:40 +0000

Traditional financing means your payments are the same every month for the life of the loan, e.g., $500.

In balloon financing, your payments will be lower, except at the end; this will be several times higher. In such an arrangement, your payment may be $350, but your final balloon payment might be $7000.

The latter type of financing is what trips up people, as they're able to make the smaller monthly payments at least until something happens – they lose their job, the economy turns sour, they have huge medical expenses, etc. Then they find themselves unable to make that balloon payment.

When exploring your options, have you crunched your numbers to be able to afford that car? (This is an important step in preparing for a big-ticked purchase.) Next, do you have enough money saved to be able to cover that balloon payment?

By: jane

jane — Thu, 11 Mar 2010 05:22:49 +0000

http://www.exinfm.com/free_spreadsheets.html

By: maganda

maganda — Wed, 10 Mar 2010 22:35:10 +0000

Are you working with a Realtor? Ask them to suggest someone.

If not, Find a Mortgage Broker/Banker who can shop the market for you and find an investor who will finance you.

If you cant find anyone, I hope you made the offer contingent on you finding financing, if not, you are out of your earnest money when you back out.

Good Luck!

By: BusinessBeaver

BusinessBeaver — Wed, 10 Mar 2010 22:16:39 +0000

I've been in Finance for so long that I've decided that I wanted to do a different degree that was along the lines of my future goals… Law. I did my BBA in Legal Studies. I was a Finance major at first. I will suggest that you stick with the Finance Major vs the Business Administration. I mean if you think about what exactly is the B.A. offering you when the bottom line of the degree is in Business Administration? To have a specialty gives you a 'know-how' that makes you more adept in taking on positions that offer stellar pay as Finance and Accounting is known for. Each person is different in terms of what they want to do with their future goals. I normally see students minor in Business Administration if their Undergraduate Degree is in a totally different realm. This is only to signal to the employer that you are versatile and have business skills. If you are a business student I suggest Finance if this is what you want. Finance is definitely interesting and keeps you on the toes not just in the sense of performing statistical analysis but also conducting market and financial research including technical analysis which keeps you in the loop of world news as much as national news. You begin to witness the chain in global commerce & media and how it effects one another and inevitably effects the market as well as consumers far and near.

Another point that comes to mind is the institution that is granting the Finance degree. What is their reputation in the Finance Department? Are they first class? Are they top-rated? Usually the "glamourous pay but slave to your job" are firms off of W-Street which hit Ivy league schools to join their Associate or Summer programs. These programs, once selected ..highly selective, gear you up for positions such as equity or fixed-income analysts. Again, the pay is here, the perks are there, but you get no life. If you're looking to have that lifestyle then ensure your alma-matter can deliver. Your grades will obviously have to stand on its own and well .. if you have connections then use them.
If you want something more exciting in Business then go for Marketing. I'm leaning to the Marketing aspect in my MBA program which will play instrumental in my Entertainment Law (Law, Marketing, Finance (Budgeting)).

Good luck with everything.

P.S. I suggest you take a few finance classes (required and as an elective) before you decide.

By: blarson1

blarson1 — Wed, 10 Mar 2010 19:54:21 +0000

You don’t agree with modern economic thought? Great. What exactly don’t you agree with and why? Maybe you have a unique idea of your own that we can all benefit from. However, until you learn how to express yourself on a point by point basis few will listen to what you have to say. Your sweeping generalizations about academic elite do absolutely nothing to change public perception.

Its real easy to sit behind a computer and flame. Its also real cowardly.

By: jay27

jay27 — Wed, 10 Mar 2010 09:13:07 +0000

It is a problem in a matter of law.
You should turn to your laywer for professional advice.

By: Gr8Candid8

Gr8Candid8 — Wed, 10 Mar 2010 08:29:13 +0000

I came, I saw, I left in boredom.

By: shovland

shovland — Tue, 09 Mar 2010 08:04:23 +0000

Why does anyone think that infinite growth is possible on a finite planet?