Comments for financebis http://www.financebis.com Financial Information Thu, 25 Aug 2011 17:43:20 +0000 hourly 1 http://wordpress.org/?v=3.3 Comment on The bill by e-mail Yahoo Finance message legitimate? by Kevin A http://www.financebis.com/20110825/the-bill-by-e-mail-yahoo-finance-message-legitimate/#comment-156445 Kevin A Thu, 25 Aug 2011 17:43:20 +0000 http://www.financebis.com/20110825/the-bill-by-e-mail-yahoo-finance-message-legitimate/#comment-156445 I would trust your instincts. I agree there are aspects that appear suspicious, and I think it's fraudelent. Yahoo! is not in the business of arranging payment between parties. Stear clear....is my advice. I would trust your instincts. I agree there are aspects that appear suspicious, and I think it’s fraudelent.

Yahoo! is not in the business of arranging payment between parties.

Stear clear….is my advice.

]]> Comment on If you have a car back into a CO finances, they have the right to sell the car at auction and charge you? by stingray41042 http://www.financebis.com/20110824/if-you-have-a-car-back-into-a-co-finances-they-have-the-right-to-sell-the-car-at-auction-and-charge-you/#comment-156441 stingray41042 Wed, 24 Aug 2011 18:25:43 +0000 http://www.financebis.com/20110824/if-you-have-a-car-back-into-a-co-finances-they-have-the-right-to-sell-the-car-at-auction-and-charge-you/#comment-156441 They can sell/auction the car as they wish and do have the right to recoup their losses. You may want to see what type of insurance the owner had as this may cover payments, etc in the event of his death. They can sell/auction the car as they wish and do have the right to recoup their losses. You may want to see what type of insurance the owner had as this may cover payments, etc in the event of his death.

]]> Comment on How do I put on a car, to finance 15 000, if I have been the worst credit possible? by Skippy The Wondertard http://www.financebis.com/20110824/how-do-i-put-on-a-car-to-finance-15-000-if-i-have-been-the-worst-credit-possible/#comment-156439 Skippy The Wondertard Wed, 24 Aug 2011 18:09:27 +0000 http://www.financebis.com/20110824/how-do-i-put-on-a-car-to-finance-15-000-if-i-have-been-the-worst-credit-possible/#comment-156439 I seriously doubt you will be able to get financed from a good finance company. And even if you did, they would most likely put you at a horrible rip off rate. When I was selling cars at a good dealership, And this was when it as MUCH easier to get credit. The lowest credit score I ever go anyone financed at was 515. And she had to put 8 grand down on a 14K car. I seriously doubt you will be able to get financed from a good finance company. And even if you did, they would most likely put you at a horrible rip off rate.
When I was selling cars at a good dealership, And this was when it as MUCH easier to get credit. The lowest credit score I ever go anyone financed at was 515. And she had to put 8 grand down on a 14K car.

]]> Comment on How do I put on a car, to finance 15 000, if I have been the worst credit possible? by amommyof2 http://www.financebis.com/20110824/how-do-i-put-on-a-car-to-finance-15-000-if-i-have-been-the-worst-credit-possible/#comment-156438 amommyof2 Wed, 24 Aug 2011 17:49:34 +0000 http://www.financebis.com/20110824/how-do-i-put-on-a-car-to-finance-15-000-if-i-have-been-the-worst-credit-possible/#comment-156438 really, it goes by your credit. I bought a used car for $ 11,000 and my down payment was 1500. The more you put down the less you gotta finance. So as much as you possibly can!! Good luck!! really, it goes by your credit. I bought a used car for $ 11,000 and my down payment was 1500. The more you put down the less you gotta finance. So as much as you possibly can!! Good luck!!

]]> Comment on If you have a car back into a CO finances, they have the right to sell the car at auction and charge you? by Ibredd http://www.financebis.com/20110824/if-you-have-a-car-back-into-a-co-finances-they-have-the-right-to-sell-the-car-at-auction-and-charge-you/#comment-156440 Ibredd Wed, 24 Aug 2011 17:37:56 +0000 http://www.financebis.com/20110824/if-you-have-a-car-back-into-a-co-finances-they-have-the-right-to-sell-the-car-at-auction-and-charge-you/#comment-156440 in a word yes in a word yes

]]> Comment on What level of funding for the car? by The Auto Evaluator™ http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156437 The Auto Evaluator™ Tue, 23 Aug 2011 20:34:39 +0000 http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156437 Carmax.com has a payment calculator for purchasing, not leasing. In addition not all leases have a "Money Factor", however most do. GMAC leases for instance do not have a money factor where as Ford Motor Credit does. It is complicating for a consumer to figure a lease payment because of all the different rules involved, such as taxes. Some states require you to pay tax on the whole vehicle (Illinois), where some only tax money down and the monthly payment (Indiana). This can change a lease payment by over $ 100 per month depending on the vehicle. Also, there are Open End leases as well as Closed End leases, so you will need clarification. There is a residual value involved, which is used to calculate the estimated value of the vehicle at lease turn in. The MSRP multiplied by the residual percent will give you the residual value, as well as the amount you can purchase the car for at the end of the lease. Basically the only way to get a valid lease payment is to go to the dealership and have them figure you a payment on a specific vehicle. Good luck and I hope this helps. Carmax.com has a payment calculator for purchasing, not leasing. In addition not all leases have a “Money Factor”, however most do. GMAC leases for instance do not have a money factor where as Ford Motor Credit does.

It is complicating for a consumer to figure a lease payment because of all the different rules involved, such as taxes. Some states require you to pay tax on the whole vehicle (Illinois), where some only tax money down and the monthly payment (Indiana). This can change a lease payment by over $ 100 per month depending on the vehicle. Also, there are Open End leases as well as Closed End leases, so you will need clarification.

There is a residual value involved, which is used to calculate the estimated value of the vehicle at lease turn in. The MSRP multiplied by the residual percent will give you the residual value, as well as the amount you can purchase the car for at the end of the lease.

Basically the only way to get a valid lease payment is to go to the dealership and have them figure you a payment on a specific vehicle. Good luck and I hope this helps.

]]> Comment on What level of funding for the car? by ishouldbeworking! http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156436 ishouldbeworking! Tue, 23 Aug 2011 20:13:40 +0000 http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156436 fyi... even with leasing there is a "money factor" (roughly the same as an interest rate in a buy scenario)...you do pay interest in a lease!!! you just might not realize it!! also, if your credit sucks you may not qualify for the "attractive" lease deal you may have seen on tv!!! and MAKE SURE leasing is really right for you! remember, life might change...driving habits might change...if you do a 12k miles per year lease but end up going over that limit you WILL pay dearly at the end of the lease!!! good luck!! fyi…
even with leasing there is a “money factor” (roughly the same as an interest rate in a buy scenario)…you do pay interest in a lease!!! you just might not realize it!!
also, if your credit sucks you may not qualify for the “attractive” lease deal you may have seen on tv!!!
and MAKE SURE leasing is really right for you! remember, life might change…driving habits might change…if you do a 12k miles per year lease but end up going over that limit you WILL pay dearly at the end of the lease!!!
good luck!!

]]> Comment on What level of funding for the car? by wiso http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156435 wiso Tue, 23 Aug 2011 19:21:40 +0000 http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156435 If your planning to lease a car, the first is first. Don't lease a used car. It not worth it. Lease a new car via a new dealer. Lease a new model as soon as it comes out. This way you pay even less for the car and at the end of the lease, just walk away. Then do it all over again, just remember don't do it for More than 24 mos. add miles to the lease if you know your going to drive 15k miles a year just make sure its on the lease. you will not need extended warranties or any mayor service plan. you may consider a plan that cover the normal wear and tear. then you should be fine and have fun till the next lease. New cars only. If your planning to lease a car, the first is first. Don’t lease a used car. It not worth it. Lease a new car via a new dealer. Lease a new model as soon as it comes out. This way you pay even less for the car and at the end of the lease, just walk away. Then do it all over again, just remember don’t do it for More than 24 mos. add miles to the lease if you know your going to drive 15k miles a year just make sure its on the lease. you will not need extended warranties or any mayor service plan. you may consider a plan that cover the normal wear and tear. then you should be fine and have fun till the next lease. New cars only.

]]> Comment on What level of funding for the car? by dnjcrouch http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156434 dnjcrouch Tue, 23 Aug 2011 18:31:27 +0000 http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156434 No only if you plan on borrowing money to purchase the car. I would strongly reconsider about leasing because there are too many loop holes and some make it almost impossible for you to get out of.If you do not use your vehicle for a business or a tax write off leasing would not be a good idea. No only if you plan on borrowing money to purchase the car. I would strongly reconsider about leasing because there are too many loop holes and some make it almost impossible for you to get out of.If you do not use your vehicle for a business or a tax write off leasing would not be a good idea.

]]> Comment on What level of funding for the car? by Colin S http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156433 Colin S Tue, 23 Aug 2011 17:56:23 +0000 http://www.financebis.com/20110823/what-level-of-funding-for-the-car/#comment-156433 If the car was $ 20,000.00 with 2% financing it simply means you pay an extra 2% on the principal amount owing each year. The principal amount is the amount you not yet paid off. Basically, they are acting as a bank by letting you have ownership of the car without yet having the money available so in fact you are paying the car company to act as a bank. You are paying for that service with the financing interest rate. If the car was $ 20,000.00 with 2% financing it simply means you pay an extra 2% on the principal amount owing each year. The principal amount is the amount you not yet paid off. Basically, they are acting as a bank by letting you have ownership of the car without yet having the money available so in fact you are paying the car company to act as a bank. You are paying for that service with the financing interest rate.

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