What method of financing is better when buying a car, Balloon Financing or traditional financing?
Q. What is better Balloon financing or traditional financing? What are the pros and cons of each?
Asked by Jason - Tue Mar 4 16:38:56 2008 - - 2 Answers - 0 Comments

A. Balloon loans provide lower payments but then you owe a huge final payment, which you have to finance again. What this does is keeps you upside down on your loan for years, increases your total finance costs, and makes it almost impossible to sell or trade your car before the end of both loans. Stay away from balloon loans if you can. Dealers sometimes push them just to get the payment a customer wants, without fully explaining the downside.
Answered by CarMan - Tue Mar 4 16:47:01 2008

How would vehicle financing work if I am recently self employed?
Q. I am now self employed. I make a salary from a company but I am not on their payroll. I am a self employed contractor. How does financing work when you are self employed? They cant go the same route with employment verification and pay stubs.
Asked by Ryan S - Fri Oct 9 18:51:08 2009 - - 1 Answers - 0 Comments

A. If you make a salary from a company, you are not self-employed unless you meet very strict definition of IRS rules. Financing is no different. You still have to prove your income source(s) and the amount(s). You'll probably have to produce tax forms that you filed with the IRS.
Answered by Dan B - Fri Oct 9 19:49:13 2009

How to get financing for a start up business?
Q. I was a Professional musician with my own band for 12 years, I also have 20 plus years of B2B corporate & executive sales & marketing. Need financing for specialized equipment for a specific targeted market.
Asked by williebenson6356 - Wed Sep 16 22:11:42 2009 - - 2 Answers - 0 Comments

A. You can get sba financing with decent credit. As long as you turn in all your paperwork it takes about 2-3 to get money directly deposited into your bank account. There is a fee but it is only paid if you get funded. No money no fee!
Answered by onemeanaka - Wed Sep 16 22:20:53 2009

How does financing work on a residential lot?
Q. There are 2 residential lots in this neighborhood that is up and coming. I want to buy the two lots but sit on them for about a year or so. How would the financing work? Do you finance something like that as you would a 30 yr mortgage?
Asked by D B - Wed Mar 12 14:36:02 2008 - - 2 Answers - 0 Comments

A. You get a lot loan from a lender. The interest rate will be higher than a traditional mortgage. Typically the terms are shorter, I have seen several 10 year land/lot loans, a few 15s.
Answered by godged - Wed Mar 12 14:43:59 2008

What are the options for financing a trailer in a trailer park?
Q. I'm a college student and I only make about $600 a month. My friend lives in a trailer park and she told me you can buy a trailer there for only $4000. If I buy one should I try to take out a loan at my bank or are there better financing options for trailers, generally?
Asked by Sunny McBubbles - Mon Dec 28 01:53:41 2009 - - 1 Answers - 0 Comments

A. your lot rent alone will probably be $200-300 a month (PLUS the cost of the trailer, utilities, food, etc - you cannot afford to live anywhere on your own or probably even with a roommate on only $600 a month and at only $600/month income - no one is going to give you a loan
Answered by Doctor Deth - Mon Dec 28 16:21:13 2009

How much external financing will Tobin Supplies Company have to seek?
Q. Tobin Supplies Company expects sales next year to be $500,000. Inventory and accounts receivable will increase $90,000 to accommodate this sales level. The company has a steady profit margin of 12 percent with a 40 percent dividend payout. How much external financing will Tobin Supplies Company have to seek? Assume there is no increase in liabilities other than that which will occur with the external financing.
Asked by aharleymom13 - Sun Nov 8 11:24:03 2009 - - 1 Answers - 0 Comments

A. Please check with the homework help section.
Answered by Gaytheist Buddha - Sun Nov 8 11:28:38 2009

What companies provide financing for a mobile home?
Q. I live in a 1987 doublewide mobile home - its made out of wood not tin. I own it 100% and its valued at $40K+ but it needs work - like new windows and I would love to remodel the kitchen but have yet to find any companies that offer financing. Per the county thats what its valued at - please don't answer if you are ignorant. Its in a park - I was told by my bank they would finance moving it and a piece of land. I just want an improvement loan.
Asked by Candy H - Tue Mar 20 01:10:03 2007 - - 7 Answers - 0 Comments

A. it's not worth 40k. not sure what upgrandes you are running... Marble floors, slate roof, oil paintings, imported tiles?
Answered by C J - Tue Mar 20 01:14:41 2007

Where can I gat financing for a truck and trailor from a private individual?
Q. I need financing to purchase a 2000 379 Pete and Doonan trailor. Tractor is fully contained. Trailor has 10 side boxes with all equipment. This truck and trailor are job specific, they are specialized and the job comes with it.
Asked by Donald T - Sat Apr 12 00:32:20 2008 - - 1 Answers - 0 Comments

A. Other than wealthy friends or co-signers., if your credit is bad, at least it should be good enough for a very high interest loan, especially if you have a written contract for a job that will last the duration of the loan. Truck financing is only part, you road fees, diesel, insurance, maintance, etc costs a lot & if you happen to have a major problem before you get funds built up you are kinda up the creek.. 2000 trucks with trailer are not terribly expensive. If you own property you can use that for collaterial. good luck.
Answered by Rick - Sat Apr 12 00:44:21 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 - - 4 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

What are the skills required in financing?
Q. I need to know what the skills needed in financing are because I want to consider this in my future. Please state some good skills or qualities one may need in a financing.
Asked by Sports Fan - Thu Dec 17 21:19:45 2009 - - 1 Answers - 0 Comments

A. "financing" is not a job
Answered by Doctor Deth - Fri Dec 18 14:29:28 2009

What is the best method of financing for house flipping?
Q. Whats the best way to get financing in order to flip houses, without taking a loan against my own home? Something with a low interest rate for a short time, or a fixed rate for a longer term?
Asked by lizsheltonhare - Sun Sep 17 17:24:00 2006 - - 5 Answers - 0 Comments

A. In an interest-only mortgage, you pay nothing toward your principal debt for the first few years. On a $200,000 mortgage, for instance, a traditional 30-year-fixed mortgage at 6% might run you $1,500 a month, including principal, interest, real estate taxes, and insurance. Remove principal from the equation, and the payments drop to $1,300. If you can't afford a $1,500 payment but $1,300 is manageable, if you plan to own the home for only a few years, or if you intend to resell it before the principal payments kick in, this arrangement can look like a great deal. But if interest rates increase, so, too, may problems. Most interest-only loans are of the "adjustable rate" variety, meaning that the 6% interest you start out paying can… [cont.]
Answered by BrokenRomeo - Sun Sep 17 17:57:57 2006

How do I find out the financing arrangements negotiated within a real estate transaction for a property sold?
Q. I am real estate student trying to appraise a comparable property. How to find out what expenses and financing used within the sale of a property already sold?
Asked by boobicat - Sat Aug 16 21:53:27 2008 - - 3 Answers - 0 Comments

A. Go to the clerk and recorders office and look up the deed for the property and then at the documents recorded just before and after. It usually is the financing agreements. The recorder will also have a record of the trust deeds for the property and referenced to the names. If they are computerized it is a snap to find. Hope this helps.
Answered by Ron G - Sat Aug 16 22:18:33 2008

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

Is financing obtained from commercial banks better than the one obtained from the government?
Q. As a fund manager of a small and medium sized company, i am considering to get extra financing but i don't know which is better. Does commercial banks offer better package, as in lower interest rates than those offered by the government schemes?
Asked by vicevh - Mon Nov 12 21:48:57 2007 - - 2 Answers - 0 Comments

A. You cannot get a "government loan" unless you have been denied financing from at least 3 commercial banks. And there is no such thing as a government "loan", it is still a commercial loan just backed by the SBA Go to www.sba.gov for more details.
Answered by Gem - Mon Nov 12 22:08:25 2007

Why would a sell that is not financing a home purchase as to see your credit report?
Q. I am looking into buying a foreclosed home that is owned by a bank. We have already submitted the offer with the lender letter showing that we have financing. Now the bank that owns the home is asking for time to review our credit instead of just accepting the offer. Why would this happen? Oops, I mean seller at the top there... Uh, sorry about the bad spelling, I mean Why would a *seller* that is not financing a home purchase *ask* to see your credit report?
Asked by Myra - Thu Apr 3 16:56:41 2008 - - 4 Answers - 0 Comments

A. First of all is it a foreclosure or an REO? A foreclosure would be where there is an auction that takes place and the winning bid pays the amount that won plus foreclosing costs,any tax liens,mechanic's liens, etc and does not have a clear title. An REO is real estate owned or bank owned and has a clear title. Was the lender letter a pre-qualify letter or pre-approved letter? There is a difference. A pre-qualify is when a buyer submits basic information and can progress from there. A pre-approved letter involves the basic information but also includes bank statements,employment verification and so on. The bank has got to make sure that your credit report doesn't show any negatives so that down the road the possibility of a… [cont.]
Answered by hollywoodmelody - Thu Apr 3 17:56:56 2008

What type of financing do I need to buy the house I am living in to pay the owner off, minus a $2000 dwn pymt?
Q. I am renting with an option to purchase. I paid a $2000 down payment to the owner and I have been paying $575 every month on time since. I have to get financing to pay him off, with the $2000 deducted from th selling price. What type of financing do I need being that I have been living in the residence for over a year?
Asked by tetrac7 - Tue Oct 30 14:58:44 2007 - - 2 Answers - 0 Comments

A. You will need financing to cover the stated purchase price of the house, less the $2000 downpayment he has agreed to credit you at time of purchase. The financing you obtain will be no different than that of purchasing a house in which you have not lived. What you have done is rented for a year, with a guaranteed option to purchase by paying down the $2000.
Answered by acermill - Tue Oct 30 15:05:36 2007

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

How do I get financing for my customers?
Q. I own/operate a genral contracting business and I want to be able to offer my customers the option of financing. How do I get started and where can I find financing co.'s or banks that would work with me.
Asked by studjeff - Tue Mar 13 22:17:20 2007 - - 1 Answers - 0 Comments

A. My dad used to own a business that sold big ticket items. He worked with a local credit union to finance his customers. He would have them fill out the applications at his store, then fax or take them to the credit union. Any bank could do it, but credit unions usually seem to want you business more.
Answered by Brian G - Tue Mar 13 22:23:23 2007

what is the difference between financing a car through commercial banks or credit union?
Q. I am planing to buy a new car but i will like to know the differences of financing via banks or credit union, and also what is dealership finance compare to bank finance.
Asked by Yinka L - Thu Dec 3 13:49:06 2009 - - 3 Answers - 0 Comments

A. Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carquotes.sinfree.net
Answered by William - Mon Dec 7 08:13:15 2009

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