Cost of Buying a Car, 10 Best States
February 17, 2008
There are a number of factors which increase the cost of buying a car. We outlined the various reasons which factor the cost of owning a car. We also showed you a list of 10 worst states which increase the true cost to own a car. Now, in this list below, we give you the 10 best states to own a car, where the cost of buying a car and maintaining a car are low enough to be happy about considering a car as a needed investment.
The list below is based on car of $30,000 at retail and the cost of buying a car and maintaining a car for a period of 60 [Read more]
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True Cost to Own a Car, 10 Worst States
February 17, 2008
This is a list of 10 worst states where the cost of owning a car is significantly more. There are a number of factors which go into increasing the true cost of owning a car. This list of 10 worst states to own a car is based on costs such as State Taxes, Average depreciation, finance rates, Auto Insurance costs, Average fuel changes & costs, expected maintenance of the car, and repairs costs.
For this list, the numbers would vary a bit based on the make and model of a car, but for most part, the expenses here would be consistent based on the percentage of the total true cost to own a car.
If you liked this article, click here to buy me a beer!Cost of Owning a Car
February 17, 2008
Are you thinking about getting a new car? Depending on where you live, the cost of owning a car will vary significantly. Even though you may have a very good credit history, the cost of financing in some states will vary, increasing the cost of owning a car in some cases by almost $6000 over a period of five years. The other factors that increase the cost of owning a car would be insurance, depending on where you live, taxes and fees, fuel and gas prices, car maintenance and rate of depreciation.
All the factors mentioned above vary from state to state and very quickly that $28,000 car you are eying would become [Read more]
If you liked this article, click here to buy me a beer!Confessions of an MBA Student
December 26, 2007
Last year Ben Bernanke, the chairman of the US Federal Reserve, earned $183,500. With bonuses included, this is almost exactly what a graduating MBA now expects to be paid to create PowerPoint slides for a bank or consulting firm. But don’t expect them to look happy about it.
We (I graduated four days ago from Insead) have taken our core negotiation course, plus optional salary-negotiation masterclasses and we know that all first offers, no matter how generous, should be viewed as only inching their way into the ballpark of respectability. No wonder recruiters think we are arrogant.
According to the 2007 survey of recruiters run by the Graduate Management Admissions Council, the key gripes of MBA recruiters are about our unrealistic expectations, both in terms of salary and level of job. MBA hires are routinely perceived to be strong on analysis but weaker on interpersonal skills.
If you liked this article, click here to buy me a beer!How to protect against Identity theft
October 8, 2007
WHAT IS IDENTITY THEFT?
Identity theft occurs when a person’s identity is stolen for the purpose of opening credit accounts, stealing money from existing accounts, applying for loans, even renting apartments or committing crimes.
We already reviewed tips on how to protect your identity from Identity theft. The following ten tips are additional tips on how to protect against identity theft.
1. Check your credit report regularly. Additionally, consumers are entitled under federal law to get one free comprehensive disclosure of all of the information in their credit file from each of the above three national credit bureaus once every 12 months. You may request your free annual credit report by visiting http://www.AnnualCreditReport.com or calling (877) FACTACT.
2. Shred your confidential mail.
3. Keep account numbers, Person Identification Numbers (PINs), credit and bank cards and checks in a secure location.
4. Don’t select a PIN that has personal significance, such as a birthday or address and change your PIN frequently.
5. Memorize your PIN and do not share your account numbers or PINS with friends or family.
If you liked this article, click here to buy me a beer!Personal Loans, Mortgages and Refinance
September 27, 2007
Personal loans can be a godsend when you face a huge tax bill, an unexpected car repair bill, or another large expense. But you might be wondering if a personal loan is even possible if you’ve had the misfortune of having bad credit. Unlike a home loan or a car loan, a personal loan is unsecured, meaning that you are offering no collateral to secure the loan. That makes the loan inherently risky for a bank or other lending institution.
With personal loans, you may not have to undergo a credit check. The money may be deposited within 24 hours into your checking account. You can use the cash for virtually anything—but especially for emergency situations. However, the amount you can borrow may be limited to no more than $1,500.
A loan officer may assist you in making your application more appealing by encouraging you to borrow a smaller amount of money or make payments over a longer span of time. In this way, your monthly payments can be lowered, increasing your chances of getting a loan. The loan officer must also determine whether you have a steady income. If you have held the same job for a number of years, for instance, you’re more likely to obtain the loan.
Mortgages
Many different types of mortgages are out there on the market - supposedly catered to just about every need you could have. While some make it easy to get a mortgage, that alone may not be a worthwhile goal - if it gets you the wrong kind of mortgage loan. You can read more about the different types of mortgages and mortgage loans here
Refinance
You may have heard a number of ads for refinancing—on television, on radio, and even on the Internet. Yet, you still might have questions about how the process actually works and whether it would be a good bet in your case.
To begin with, it might be helpful to discuss definition of terms involved with refinance. The act of home refinancing involves applying for a secured loan to pay off a loan that has already been secured with a piece of property or other assets. If your initial loan had a high interest rate, it only makes sense that you would be interested in a loan with a lower rate of interest.
The most common type of mortgage refinance comes in the form of a second home loan. In order to determine if such a loan is appropriate in your particular case, you first need to ascertain whether you’ll be saving more on interest than you’ll be paying out in refinancing fees. As an added bonus, you may find that you can obtain additional cash while decreasing the amount you need to spend on your mortgage payments. Home refinance loans can be an attractive option because it allows you to use the equity in your house to your best advantage.
If you liked this article, click here to buy me a beer!Mortgages, Personal Loans and Secured Loans
September 27, 2007
A mortgage - the loan you take out from a lender to pay for a property - is probable one of the largest debts you will have in one go.
If you are looking for a mortgage in today’s market place, you may well be completely bewildered by the wealth of options out there. But don’t panic! This can only be a good thing in view of getting a competitive deal, and despite all the jargon, most Mortgages are simply a variation on a few types.
Personal Loan
There are many factors that you may wish to consider before you apply for and choose a personal loan , apr (annual percentage rate) is one of the best and easiest ways to compare. If loan A offers a lower apr then loan B then the loan A should be cheaper loan option than B. However, the typical apr of personal loans, the apr which the loan company will display is actually the average apr of all loan amounts that are available. This means the loan provider have different apr’s for different loan amounts. These loan apr’s are typical and dependant also on your credit rating.
Secured Loan
A secured loan is one that is secured against an asset, usually your home, and these loans can often take longer to process that unsecured loans simply because of the additional information required, such as property valuations and proof of home ownership. However, this type of loan is also the most affordable option for many borrowers and there are a number of factors that can determine how much you will end up repaying on a monthly basis.
You will often find that the interest rates charged on secured loans are very competitive, so you can enjoy real value for money, as lenders can afford to offer lower interest rates because the loan is secured against an asset. You will also find that secured loans are available over a longer term, which can help to keep the monthly repayments down because the overall debt is stretched over a lengthy period. In addition to this, you will also find that your borrowing power is likely to be far higher with a secured loan that with an unsecured loan, and most lenders will base the amount that you can borrow on the available equity in your home, which is the market value of your property minus any mortgage or other loans already secured upon it.
Another great thing about secured loans is that they are suitable for those with a bad credit rating. Providing you are a homeowner, you should be able to find a lender that can provide you with a competitive bad credit loan even if you have a tarnished credit rating, whereas you could find it very difficult or even impossible to get an unsecured loan if you have a poor credit history.
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