"I believe we are on an irreversible trend toward more freedom and democracy - but that could change."Dan Quayle
|
| |
Auto Refinance Secrets: Refinance Your Car Loan And Save Every Month
Refinancing your auto loan can be a easy and effective way to lower your monthly payments and save you a good deal of money in the long term. Huge numbers of people are taking advantage of refinancing in the face of much lower interest rates. If you think ...
Refinance Your Home Equity Loan
Refinancing your home equity loan is an excellent way to save money. By refinancing your home equity loan you can lower your interest rate and finance for a longer or shorter term. Some things to consider before refinancing your home equity loan are the ...
Where to Get a Loan : Consumer finance companies.
If you have no or poor credit background, a consumer finance company may be an option. Unlike banks and savings and loan associations, these finance companies borrow money from other sources and then lend that money out to the consumer. The spread, or ...
|
|
|
| |
You have probably heard of auto refinance before. Or simply refinance.
The term "refinance" actually refers to a financial situation wherein a
borrower finds financing to pay off a current loan. Refinance is often put into
practice in home buying. In fact, refinancing is one of the most popular
methods of getting financing for a home loan.
With auto refinance, the same thing applies. Auto refinance is basically
paying off one loan with a new loan. The goal of auto refinance is to allow the
borrower to save some money from your monthly loan obligations. And as such, it
is one of the best kept secrets in the financing industry. For years now,
people have refinancing their homes and saving thousands of dollars. However,
the practice of refinancing car loans has yet to be indulged by most. Why?
Perhaps the reason is that auto loans generally behave differently from home
loans and people are naturally skeptical about new methods. Regardless, auto
refinance is still a good choice, provided that the situation is right.
When to get an Auto Refinance Loan
The only way for auto refinance to work is if you get it when the
interest rates are low. Mortgage rates tend to move with interest rates.
Therefore, if interest rates are low, then it's likely that mortgage rates are
low also. Low mortgage rates typically mean low monthly repayments and this
then is the situation you should aim for.
Only few people really understand the time value of money. Keep in mind
that the longer you pay for a loan, the bigger amount of money you actually
spend for it. Thus, by the end of the loan period, you would have paid more
money on interest than on the principal. This is why auto refinance is
important for it is one of the few methods that could help you minimize loan
costs and maximize your savings.
Who can benefit from Auto Refinance?
Almost anyone with a loan to his name can benefit from auto refinance.
Even car buyers with bad credit can obtain auto refinance as a way for them to
lower down their APRs. Let's say, for instance, you make an auto refinance loan
for $16,500 on a new Honda Accord. At the end of six months, you agree to pay
off the amount at 21% APR. So for a few months, this will be your monthly loan
obligation.
Then, you decide to take an auto refinance loan. However, this time,
your loan ate is at 6% APR. Your current monthly payment is $446 which gives
you total interest charges of $10,283 at the end of your loan period. Your auto
refinance loan offers you a monthly payment of $319 with total interest charges
of $2,639. Thus, by refinancing, you can save up to $7,600.
Tony Forster has a keen interest in living debt free having been "up to his ears" before realizing the need to take control. He has compiled an online financial article resource at http://www.loan4payday.info
|
|
|
|
|
|
 Ares Hires Merrill Leveraged Finance Executive (New York Times)
Ares Management said on Wednesday that it has hired Greg Margolies, a former Merrill Lynch leveraged finance executive, as the head of the investment firm’s capital markets group.
Shoppers Drug Says Finance Chief Halatsis Will Leave (Update1) (Bloomberg)
Jan. 7 (Bloomberg) -- Shoppers Drug Mart Corp. , Canada’s largest pharmacy chain, said Chief Financial Officer George Halatsis will leave to pursue another opportunity and named a senior finance executive to replace him.
International Islamic Trade Finance Corporation initiates and sponsors the 'Turkish Day' (AME Info)
The International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IDB) Group, sponsored the 'Turkish Day' event, which was held on Wednesday 24th of December 2008 in the Islamic Development Bank headquarters in Jeddah.
Nigeria: Expert Advocates Islamic Finance for Infrastructure, Project Financing (AllAfrica.com)
THE Managing Director of Lotus Capital Limited, Mrs. Hajara Adeola, has stressed the need for government and other stakeholders in the country to finance the country's economic development, especially infrastructure development and project finance with the use of Islamic financial products as opposed to the conventional modes of financing.
Teves named finance minister of the year (Philippine Daily Inquirer)
MANILA, Philippines -- Margarito B. Teves was named Asia's Finance Minister of the Year 2009, an award sponsored by the London-based magazine The Banker, part of the Financial Times group of publications.
|
