Are 0% Car Financing Offers Good For You?
You can still find plenty of auto loans out there, especially if you have good to excellent credit. It seems like people with credit challenges can still find somebody willing to make them offer. Very often, the loan companies that are associated with car makers, are willing to step forward with a decent deal for auto financing. Right now, car makers need to sell cars, and for most people, financing that car is part of the purchase!
Apply For A Low Rate Auto Loan Online
If you can qualify for 0% auto financing, it will certainly save you interest money, will probably shorten the term of your loan, but will mean paying out for a longer time. You might see a 0% financing offer for 36 months which will cost $500 a month. On the other hand, another good offer from a dealer may have a fairly low interest rate attached, but will allow you to pay your loan off over 5 years with a $325 payment! This plan will cost you a few thousand dollars in interest and extend your payoff time, but the lower payment may work better with your monthly budget.
It is very convenient to apply for auto loans online before you go car shopping, especially if you want to make the best deal or shop online. You can find car financing for used cars, new cars, or car loan refinancing.
Transfer High Credit Card Balances Now
We have to thank our friends at Credit Land for publishing a list of :
I think it is amazing that when the prime rate keeps going down, many credit car issuers keep raising rates, and use the slightest infraction to really impose some high penalties in the forms of fees and interest rate increases. They justify the penalties because they say that they have tighter cash flows, and are taking more risk when they lend money.
Watch Your Credit Card Balances Carefully!
However, I still think that some large companies are playing some dirtry tricks, like quietly lowering credit card spending limits. This practice can reduce the cardholder’s credit score because part of the calculation is done on the card balances vs. available credit. It can also make it very easy for a careless card holder to overspend because they did not notice the credit limit reduction, and to incur more penalties, which can include a credit score reduction.
If you have seen a rate increase, look around for a balance transfer offer. A lot of times, the bank you use for your checking and savings account is a good bet. But, of course, it is easy to use an online search like the one we have pointed out above.
Low Cost Car Insurance
Are You Paying Too Much For Insurance?
We are bombarded by ads for lower priced car insurance rates, but of course, all the insurance companies cannot be the cheapest. In fact, the top insurers have different underwriting guidelines, and different people will get better deals from different companies.
Do You Like Paying Too Much For Insurance? If Not Compare Insurance Quotes for Free!
Here are some things insurance companies consider when setting your rates:
- Age and Driving History
- Type of Car, Safety Features, and Anti-Theft Devices
- Local Zip Code and Driving Habits
- Credit Reports
However, insurers do not have a standard weight for these factors, and some things you do can earn auto insurance discounts too. For instance, one company may offest the higher risk classification of a driver with a poor credit report by giving him or her a discount for a good driving history. A young driver is usually considered a high risk by top insurers. But he or she may get lower rates rates on a car insurance policy for a student driver because of good grades or a driver’s safety course. It is up to you to shop around in order to find the best rates for your own individual situation.
It is pretty easy to shop around by using the internet: Find the best car insurance quotes with our fast, safe, and free car insurance quote form!
Calculating Real Estate Capitalization Rate
Why Determine A Real Estate Cap Rate?
If you are one of the hardy souls who are still investing in real estate, you have probably run across the term, cap rate, in your research. This is the real estate capitalization rate, which is can roughly determine the profitability of a property, or conversely, how much a profitable property could sell for. Now there is not a standard cap rate that means a property is a good investment, but rather the number is a guide that can be compared to the rate of other area properties.
Calculating A Propery Capitalization Rate
It is very simple to calculate the cap rate. You simply divide the net operating income (NOI) by the property’s market value. So if the income after expenses is $2,000, and the property is selling for $200,000, the cap rate would be 2,000/200,000 or .1, which is also stated as 10 percent.
CAP RATE = NOI / Property Value
What is a Good Cap Rate?
Of course, a seller will want the highest possible price, or the lowest cap rate. A buyer will want the lowest possible price so they can enjoy the highest capitalization on their purchase. Factors that determine an acceptable cap rate will vary, but the risk of taking on the property will be a consideration.
For instance, a seaside bar that enjoys a popular location may have a very high income, and also sell for a high price. However, if that particular location is subject to hurricanes every 3 years, the risk may be higher. That may bring down the sales price, so the cap rate will be higher, and the buyers will be compensated for their risk.
Using Cap Rate To Determine A Property Value
If you are buying a property, and you already have a good idea of the cap rate you think is acceptable, then you can use that information to roughly estimate the property value too. Take the Net Operating Income (NOI) divided by your goal cap rate. So if a property produces $12,000 a year, and you desire a CAP rate of .10, use the formule: 12,000 / .1 = 120,000.
Of course, it is up to you as a potential buyer to research reasonable capitalization rates, true net operating expenses, etc. In general a NOI is calculated by taking the gross operating income and subtracting out expenses like supplies, management, utilities, and property taxes. Improvements, which actually may raise the property value, are not considered.
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