What's the difference between in house financing, and dealer financing, when buying a used car?
Q. What are the differences between in house financing, and dealer financing, when buying a used car? In house financing VS. dealer financing VS. buy here pay here? Is there a difference between these? If so, what are the differences? Thanks in advance!
Asked by Wednesday - Wed Sep 16 02:18:00 2009 - - 5 Answers - 0 Comments

A. buy here pay here means they will finance anyone with a decent sized down payment. In house financing can mean both...they will tote the note and they also have sub prime finance sources. Dealer financing often means the dealer can arrange financing for qualified buyers but can mean the others also. Bottom line is if the dealer is doing the financing, you are paying too much. Both in price and interest rate. Why ? Because you likely are a poor credit risk and its the only way the business can be profitable.
Answered by unknown - Wed Sep 16 15:19:33 2009

How can I offer financing for products on my website?
Q. I sell scooters, mopeds, atvs, pocket bikes, dirt bikes and accessories. I want to provide a link for financing options for our products. Our highest priced item is about 4k. Average cost is about 600 dollars. What are some good financing services? Links? Thanks.
Asked by Awsome - Fri Oct 17 10:59:43 2008 - - 1 Answers - 0 Comments

A. I would talk to a local bank about it. I bought my wife's engagement ring with financing through the jewelry store. It really wasn't financed by the jewelry store, it was through a local bank, the jewelry store just helped with the paperwork. Talk to the bank about how that would work. The other option if you can afford to accept payments is to finance them yourself, but you better talk to a lawyer and make sure your contracts are rock solid because sooner or later you will have to repo somebody's bike and sue them for the balance of the loan.
Answered by SmartA$$ - Fri Oct 17 11:07:08 2008

How can I get financing for a mobile home that is not on a permanent foundation?
Q. I live at home with my grandfather who is currently running into financial trouble. We live in a doublewide without a permanent foundation. He is willing to sell me the house and his 28 acres of land, but I can not find financing for it. Any ideas on a company that will finance without us putting in a permanent foudation?
Asked by wldwon2003 - Thu Mar 26 16:16:05 2009 - - 1 Answers - 0 Comments

A. try Northpoint lending as a source
Answered by golferwhoworks - Thu Mar 26 17:11:56 2009

What's the difference between leasing & financing a car?
Q. I wanna buy a car it cost $22.000 going to put $3.500 at signing and I want to make monthly payments on it. So have to lease/or finance it. Leasing is like renting and financing is buying. I'm planning to keep the car like forever but I don't know which one is an advantage. Explain which one is best for me.
Asked by Kenneth - Wed Oct 21 01:38:08 2009 - - 5 Answers - 0 Comments

A. Unless you pay in-full at the time of purchase, a car is "financed" whether it is purchased or leased. The difference is very simple. With a purchase, you eventually own outright the vehicle for which you made a down-payment and have repaid through monthly payments the remainder you borrowed. The vehicle is yours to do as you please. With a lease, you're effectively renting the vehicle for a specified period of time for a price determined by deducting an estimated future (residual) value of the vehicle from its original (capital) price. The difference is financed and repaid monthly like any other loan. At the end of the lease term, you can choose to "walk away", or you can purchase the vehicle for the agreed-upon price, whichever… [cont.]
Answered by Sage - Wed Oct 21 02:00:53 2009

How can you offer financing for you products on a website?
Q. If you own a website that sells stuff. How can you offer financing for people that want it? Are there any services other than Paypal? Thanks. This is so annoying. Can't you people read the question? it says how to offer financing? Why are you talking about accepting credit cards?
Asked by Awsome - Sat Aug 23 17:31:42 2008 - - 2 Answers - 0 Comments

A. American Express, Discover, Master Card, Visa, etc. You should leave financing to the experts. Just arrange to accept credit cards for purchases on your website. Getting your money right away and not having to worry about bad debts more than compensates for their fees. Hope this helps Jerry-the-bookkeeper ~
Answered by jerry-the-bookkeeper - Sat Aug 23 18:16:52 2008

What is the difference between accounting and financing majors?
Q. So I'm currently considering some majors and I wanted to know what the differences between accounting and financing majors were?? What are some jobs one can get as an accounting or financing major? Also how much do they make? What are some good schools that offer these majors? thanks!
Asked by Bob Leazd - Thu Jul 29 23:18:28 2010 - - 0 Answers - 0 Comments

A. Finance and accounting are very much not the same thing. Accounting is what you do after you already have finance. Finance is an executive job, whereas accounting is what those humorless beancounters do. If you're interested in the prospect of advancement, major in finance. If you're interested in steady employment, major in accounting.
Answered by Beef Mcbeef - Thu Jul 29 23:41:29 2010

How is venture capital financing accounted for in balance sheet?
Q. I imagine if the financing is structured as a convertible loan, then the money is added as a liability. But if the investment is in return for common shares, how is the transaction recorded?
Asked by gpapayia - Mon Sep 15 21:39:06 2008 - - 1 Answers - 0 Comments

A. DR - Cash CR - Capital stock (at the par value) CR - Additional paid-in capital (at any excess to par value)
Answered by beancounter - Mon Sep 15 21:47:17 2008

What is the difference between financing a car thru a dealership and getting an auto loan through your bank?
Q. I'm purchasing a new car soon and I alaways see specials for financing a car thru a dealership. What is the difference? I was planning on going through my credit union.
Asked by hurleyqtgurlie - Thu Feb 14 09:57:33 2008 - - 3 Answers - 0 Comments

A. It depends on what special financing you are talking about. If you mean the ones advertised on TV, such as 5.9% APR on the 2008 Fusions, this is not dealership financing. True dealership financing comes mostly from buy-here, pay-here lots. This is manufacturer financing and typically there is a cash rebate in lieu of the APR, so find out what your credit union will approve you for, as far as an interest rate. Research the car you are looking to buy on edmunds.com and see what rebates are available to you in your area. Now when you pick out the vehicle, have the sales associate figure payments both ways . Whichever gives you the lower payment is typically the favorable… [cont.]
Answered by The Auto Evaluator - Thu Feb 14 10:11:28 2008

How does an American obtain financing for buying property in a foreign country?
Q. I am looking to buy a flat in Romania. I currently own my own home in the US and have excellent credit. I can afford to buy another house but need a mortgage loan or other financing. Thank you.
Asked by ftroop888 - Thu Apr 26 08:45:48 2007 - - 1 Answers - 0 Comments

A. As a small investor, you need to contact a local bank in Romania.
Answered by TRP198 - Thu Apr 26 09:23:50 2007

What all options I need to consider for property financing in Singapore?
Q. Currently staying in my HDB flat, now want to buy condo. How to manage financing issues? What all options I need to consider for property financing in Singapore? Please help.
Asked by Beena - Tue Jul 27 02:03:45 2010 - - 0 Answers - 0 Comments

A. Go for home loan or take loan against HDB..whichever is preferable..easier option for property financing can be selling your hdb for next property investment. Well well there are many things but it's better if consult with bank officials for the same can go for DBS home advice. They'll contact for home loan assistance.
Answered by Valarie - Tue Jul 27 06:27:10 2010

What documents are necessary for seller financing a vacant building lot?
Q. I have a lot that I want to sell on monthly payments through seller financing in Pennsylvania. I don't want to use a land contract. Can I just use a standard purchase and sale agreement which states the terms, ie payments, etc. or do I need additional instruments as well like a note, vendor's lien deed, etc? Does the deed go to the buyer or does the seller keep it. Also does the deed have to reflect the existing lien?
Asked by woroguda - Thu Jun 18 10:10:52 2009 - - 2 Answers - 0 Comments

A. Standard contract is fine. You will be having the buyer sign a Promissory Note for the loan amount. THis will state the interest rate and length of loan. THere will also be a 2nd document; either a Deed of Trust or a Mortgage. THis will explain what you can do if the buyer does not pay you. You keep the note. You record the Deed of Trust. Then you are done. You will sign a Warranty Deed which is easy since you have the deed from when you bought it. That will be recorded. One note. If the buyer does not pay you, you foreclose and take the land back. A smart buyer will declare bankruptcy. You will get a letter from the judge telling you that the BK is a federal action and you can not slow or stop it. Devious buyers cancel the BK after 5… [cont.]
Answered by Ed Atun - Thu Jun 18 17:20:23 2009

How can I start my own financing company?
Q. I need to find a resource for licensing, laws, and any other steps necessary to start a financing company. I want to be the company that loans money to companies and individuals for purchasing commercial vehicles. I am using some of my money and some that is borrowed at a lower rate. I have a used Truck (Big Rig) dealership with plenty of inventory. Our customers currently use a finance company that charges over 32% in some cases.
Asked by jbarucca - Mon Oct 16 17:10:15 2006 - - 1 Answers - 1 Comments

A. you want to become a commercial lessor, I am in the repo business and that is not a great idea,since these trucks are very hard to find since they have wheels and are hard to find. A better idea is to lease commercial equipment . Alot of the leasing companies that I work with are phasing out truck leases. Are you using your own funds? or borrowing them at a low rate and getting a higher rate back?
Answered by bayareart1 - Mon Oct 16 17:17:23 2006

I have bad credit and need financing for my business to expand? Does anyone have any ideas on how to do this?
Q. Hello, I have a small residential and commercial cleaning business that I am looking to expand. I have been shopping around for financing through traditional lenders, but due to my 518 FICO score and millions of charge-offs, I can't get fianancing. I have applied to a few non-profits in the state that I live in. I have also been pitching my case to some friends. I don't have any family that can help. They all have bad credit and so do much of my friends. I really do not know anyone with cash on hand either. I have been looking into getting an angel investor or a venture capitalist, but I do not know if that'll work. I've posted an ad on Prosper and I never get responses. Again, I think that this is due to my bad credit. I am seriously… [cont.]
Asked by flavaa - Fri Jun 15 22:46:15 2007 - - 4 Answers - 0 Comments

A. I think Prosper.com may be your last best chance. Maybe you need to change your writeup. Potential lenders want to know about your past but, most of all, they want to hear your honest description of why and how you think you'll be successful this time. Potential lenders like to invest in people, not in businesses. Just be careful that any solution you decide on is not taken in desperation and quick judgement. The results could make your situation worse than it already is. I'm sure you realize it now, but others should learn from your experience that poor financial responsibility has very serious long-term effects that are extremely difficult to overcome. Best wishes to you.
Answered by CarMan - Fri Jun 15 23:03:31 2007

What are the differences between owner financing and rent with the option to buy?
Q. we have a chance to purchase a house with owner financing but are being told that we have to notify them of any major improvements on the property...that sounds more like renting with the option to buy to me...can you please clarify the laws pertaining to this?
Asked by Kari B - Wed Dec 17 18:32:26 2008 - - 3 Answers - 0 Comments

A. they are about the same but I can understand why he wants to be told of renovations as many start out doing well but most never complete a owner financing plan. If you do this then do it for a couple of years at most then get bank financing through Fannie or FHA and they will do this as a refinance and always pay on time and by check only as you will need proof of timely payments an a landlords word is not good enough
Answered by golferwhoworks - Wed Dec 17 18:38:07 2008

How long does it take to close with owner financing when the owner has a mortgage?
Q. In other words, what time-consuming activities have to happen before closing, when the owner providing the financing is already satisfied of the property's value and condition, so there is no need for additional inspection, appraisal, etc.? I assume the key issues are paying off the owner's mortgage, recording the owner-financed mortgage, and getting the title transferred to the new owner. But do those get done before or after closing? The owner's liquid assets plus the seller's down payment will add up to enough to pay off ther owner's mortgage.
Asked by Dilbert - Thu Oct 15 11:32:55 2009 - - 2 Answers - 0 Comments

A. if you want title insurance (and you do) that could take a couple of weeks. other than that this could be done in a few days. just schedule a closing with title company.
Answered by David Z - Thu Oct 15 12:06:49 2009

Whats the most expensive way to obtain financing for a new project?
Q. Some financing sources would be retained earnings, debt, and new equity issuance. Would equity be the most expensive? If so, why?
Asked by Nevyll - Wed Nov 21 09:31:33 2007 - - 1 Answers - 0 Comments

A. I answered u on that same topic twice!! Go read about the Pecking Order Theory in Wikipedia, return to your previous questions to read my answers, and most importantly give me my goddamn points or I'll stop helping u out (lol) The cost of new equity is not only about the return an equity investor would require. The issuance process itself is very costly. I'm an investment banker and a CFA charterholder and we call it floatation cost. We could spend three quarters with virtually no businees coming in or out until one IPO helps us make our numbers and maybe exceed them. We charge people heavily. In the US floatation cost is typically around 10% of the value of the issue!! I know it sounds horrible but yes investment bankers are indeed a… [cont.]
Answered by iam_an_elf_archer - Thu Nov 22 20:35:43 2007

What recourse do I have when a dealership can't obtain financing and wants payments made to lower purchase amt
Q. My son purchased a used car and the dealer indciated they would obtain financing. They could't then wanted him to make the payment they quoted to reduce the amount to be financed, saying this would enable them to get the financing. He opted to return the car for the deposit. We sent a letter stating all the terms and facts with the sell and explained that the car would be returned and requested refund of downpayment. An appointment was made to return auto but owner wasn't there and several calls with no response. What repurcussions are we looking at? Are there any suggestions in resolving this?
Asked by Ayanna - Mon Aug 13 09:14:53 2007 - - 5 Answers - 0 Comments

A. I'm assuming you purchased this vehicle in NSW. Under the general terms of the Motor Traders Act (NSW) most vehicle purchase agreements are subject to finance approval. In other words, if you signed a purchase agreement at the dealer and applied for finance that contract is only valid provided the dealer can secure the necessary finance to finalise the purchase of the vehicle. If the finance application was declined then typically the dealer must refund the deposit and the vehicle purchase agreement is deemed null and void. This isn't always the case but in the majority of cases holds true. I would challenge the dealer on this and if they persist I suggest you contact the Department of Fair Trading (in NSW). Dealers can be a little… [cont.]
Answered by Mathew B - Mon Aug 13 09:26:11 2007

What are some good interest rates for automobile financing these days? And some bad interests rates?
Q. Does anyone know what interest rates should be offered for good, fair and poor credit, when financing a vehicle?
Asked by Shoe Maker - Sun Jul 6 22:08:40 2008 - - 2 Answers - 0 Comments

A. The interest rate depends on the length of the loan as much as is does your credit history. A short loan (24 - 36 months) will be lower interest than a long loan (60 - 72 months). If you have very good credit you should be able to get 5% - 7% for 60 months. Anything above 10% is not very good. Anything above 15% is for poor credit situations.
Answered by mccoyblues - Sun Jul 6 23:28:46 2008

What is the difference between USDA and FHA Financing?
Q. I would like to know what the difference between FHA and USDA financing. For example: what are the ratio differences, income limits, time on job, and any other details you might know. Thanks!
Asked by scott32003 - Sat Feb 6 12:48:19 2010 - - 4 Answers - 0 Comments

A. USDA offers a loan program based on rural financing. There are median incomes used to qualify as well as number of people who live in the home. USDA loans do not require mortgage insurance and you can finance up to 102% of the property. The loans are even transferable. Please contact me if you would like to know more about it. Credit scores for these loans start at 600. I am a mortgage banker in Texas. This can also qualify you for the first time home buyers tax credit.
Answered by Texas Mortgage Banker - Sat Feb 6 13:57:30 2010

When a bank looks at credit score to determine financing, does it affect my credit rating?
Q. I am wanting to purchase a house, but I don't want to look into financing until I find something I like. I am afraid my credit score will be reduced if I start asking banks to review my credit.
Asked by LJ - Fri May 30 13:41:37 2008 - - 8 Answers - 0 Comments

A. Not really, when people shop for a vehicle or home all inquiries made in a 14-day period are lumped together and only count as one, they all show but your score only gets dinged once.
Answered by SPIFIMAN1 - Fri May 30 13:56:18 2008