The 7 Ways Dealers Can Rip You Off With Car Financing #muthoot #finance

#car finance companies


The 7 Ways Dealers Can Rip You Off With Car Financing

It’s surprising how many car buyers don’t take the time to shop for car financing before going to the dealership. This is a huge mistake that dealers easily take advantage of.

They know most car buyers don’t take time to research financing options so they are likely to pass hidden fees into the car loan without anyone making a fuss.

What most people don’t realize is that dealers do not finance the car loans. They simply arrange financing using their relationships with banks, financing companies, and in some cases their manufacturer’s captive finance company.

Since they’re middlemen, they get a piece of the pie. Here’s how dealers typically screw over car buyers:

1. Packed Payments

This is the most common car financing scam and it works on the premise that most car shoppers focus only on the monthly payment instead of the actual price of the vehicle.

Dealers will increase the car payment by including (or packing) products and services that you didn’t ask for into the loan, such as extended warranties and GAP insurance. A monthly increase of only $33 over a 60 month loan will cost you $2,000.

An easy way to avoid this scam is to arrange your own financing before going to the dealership. (See: Packed Payments Scam for more details)

2. Spot Delivery Scam

This is when the dealer arranges the financing, let’s you take the car home, then calls you up several days later telling you the financing fell through and that you need to bring the car back.

When you’re back at the dealership, they will pressure you into signing a loan with a higher interest rate, larger down payment, or both. Either way, you end up paying a lot more than you expected and the dealer makes a nice, fat profit.

There are times when financing legitimately falls through, but these are rare and no dealer should allow you to take a car home in the first place unless they are 100% sure you will be approved. If you have bad credit and this happens, you can rest assured it was a scam all along.

The way to prevent this is to arrange your own financing – don’t just rely on the dealer, they’re not looking after your best interests.

3. Bad Credit Score Scam

Some dealers rely on the fact that many car shoppers don’t know their own credit score. If you go to a dealership without knowing this and you’re going to rely on them to get you an auto loan, you’re just dying to be ripped off.

All it takes is for the dealer to lie to you about your credit score. After they do a credit check, they don’t have to reveal what your score is, they can just tell you that you won’t qualify for competitive financing rates.

At this point, most car buyers are desperate and think they won’t get financed. When the dealer presents a loan with a high interest rate, you’re more likely to take it, not realizing that you just gave the dealer thousands of dollars in extra interest payments that weren’t necessary.

4. Finance Markup

When you apply for financing through a dealer, they shop your application to several lenders and get to see what rates you qualify for. This is called the “buy rate”.

Let’s say the best interest rate they can get you is 6% – they then go ahead and mark up that rate, usually up to 4% (some states have a limit of 2.5%). The 6% loan you qualified for will now be presented to you as a 8.5% or even a 10% loan if they’re especially greedy.

The dealer will keep the additional markup as their profit. (They actually split a small portion of the profit with the finance company). This profit is called “finance reserve” or “dealer reserve”.

You may be saying to yourself “well, 2.5% isn’t that much”. It seems small, but it adds up to a lot of profit when you take into account the life of your loan.

Look at this example:

If you took out a $20,000 car loan at 6% interest for 60 months, your monthly payment would be $386.66.

At 8.5% interest, your payment would go up to $410.33

Over the life of the loan, you would end up paying an additional $1,420 – that’s the profit the dealer would make on your loan. When you figure the average dealer only makes about $600 to $800 profit on the price of a new car, financing is as important as negotiating TWO new cars.

This is why it pays to shop for financing before going to the dealer. The dealer should try to beat the best rate you got on your own – not offer you the loan that has the biggest profit potential for the dealership.

But it gets even worse – here are the other ways they can make money if you don’t do your own research and comparison shop.

5. Taking Advantage of Fees and Limits

As if marking up the loan rate wasn’t bad enough, some dealers will present you with loans that have the highest profit potential rather than loans that will give you the best interest rates.

For example, your application may be approved by several lenders but each will have a different interest rate.

Let’s say the lowest rate you qualify for is 5%, but the lender requires the dealer to pay a large acquisition fee, or maybe they have a finance markup limit of only 1%.

Let’s now assume there’s another lender with a higher interest rate – say 6%. But this lender allows a 2% markup along with a lower acquisition fee for the dealer. Which one do you think the dealer is going to present to you?

Remember, the dealer is under no obligation to offer you the lowest rate. They just want to make as much money as they can – and the only way they can do this is if you don’t shop around for financing before going to the dealer.

6. Prizes and Gifts

Some finance companies offer dealers prizes and incentives for driving business their way. If a finance manager can get a free vacation by getting you to sign a bad loan, they won’t think twice about it.

Again, the only way to prevent this is to setup your own financing through a bank, credit union, or some other source BEFORE going to the dealer.

7. Loan Packaging

Loan packaging is not very common, but it is a potential profit center for the dealer if you’re not prepared.

This is when they package two or more loans together in order to secure a loan for someone with bad credit. The person with bad credit would not ordinarily be able to get a loan on their own, but when their loan is packaged with people who have prime credit, the finance company approves them.

This is great for the person with bad credit, but if you’re the other person on that loan, you’ll be subsidizing them by paying a higher interest.

The moral of the story? It’s simple, just make sure you get financing lined up before heading to the dealer. It’s amazing how many car shoppers don’t follow this simple rule which can save them thousands.

My Recommendation for Car Shoppers

TrueCar No-Haggle and Edmunds Price Promise are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you – and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
– Gregg Fidan

About: Gregg Fidan

Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

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Will Your College Degree Pay Off? #degrees #that #pay #off


Will Your College Degree Pay Off?

Back in the good old days, a college degree pretty much guaranteed a job, a decent income and a shot at upward mobility. Today, eight in ten young retail workers have bachelor’s degrees, even though the occupation doesn’t require one. And more than 33,600 PhD-holders are on food stamps.

Does that mean college isn’t worth the cost? Far from it. A college degree can make or break a career. But if you’re going to spend years of your life in school (and decades paying off the loans afterward), you should at least pursue an education that won’t lead to the nearest shopping mall.

Should you chase that Ivy League MFA you’ve always wanted? Could an associate’s degree pay off more than a bachelor’s? Take our quiz to see if your college degree is really worth the cost.

By Caitlin Dewey,
October 2012

Quiz | Will Your College Degree Pay Off?

Question 1 of 10

Your daughter got into two good colleges: One is an expensive Ivy and the other a (much cheaper) public school. Is the Ivy League worth the big investment?

A. Yes. Students with prestigious diplomas from elite schools usually make more money in the long run. B. No. Attending a state school could save you thousands of dollars and won’t impact your daughter’s future earnings. C. Neither. A college diploma isn t worth the debt, no matter where you go to school.

Quiz | Will Your College Degree Pay Off?

Question 1 of 10

Your daughter got into two good colleges: One is an expensive Ivy and the other a (much cheaper) public school. Is the Ivy League worth the big investment?

A. Yes. Students with prestigious diplomas from elite schools usually make more money in the long run. B. No. Attending a state school could save you thousands of dollars and won’t impact your daughter’s future earnings.

No offense to all the Ivy alums out there, but studies show that a prestigious diploma ultimately makes very little difference in how your career fares. In fact, economists Alan Krueger and Stacy Dale (Krueger works, somewhat ironically, at Princeton) found that the best predictor of high income is. Read more

No offense to all the Ivy alums out there, but studies show that a prestigious diploma ultimately makes very little difference in how your career fares. In fact, economists Alan Krueger and Stacy Dale (Krueger works, somewhat ironically, at Princeton) found that the best predictor of high income is a high SAT score, not a good college placement.

Of course, some Ivies are great values. especially compared to other private colleges. But if your daughter is considering one of the pricier Ivy options, there are more affordable alternatives. A solid state school will provide all the opportunities she needs at a fraction of the cost. Less

C. Neither. A college diploma isn t worth the debt, no matter where you go to school. Next Question

Quiz | Will Your College Degree Pay Off?

Not Using My Car: Does it Need Insurance? #insurance, #car, #not #used, #off #the #road, #public #road,


Not Using My Car: Does it Need Insurance?

By: Sally Aquire (6 Jan 17)

The law states that all registered vehicles that are being used on public roads must be both taxed and insured. If you are caught without insurance, you can be fined and given penalty points on your driving licence. You can potentially be Disqualified from Driving for a while too. Although you are not legally obliged to insure vehicles that are currently off the road and being kept in private garages or on private land, you should make sure that your car is insured if it is being kept on a public road. There are also practical reasons for making sure that any vehicles registered by you are fully insured, regardless of where they are being kept. Your car can be involved in an accident without being on the road – the handbrake could fail, an electrical fault could start a fire or the car could be stolen. Without insurance, you are not covered for these types of situations.

If you are not going to be using your car for over a month, you can contact your insurance company and ask them to suspend your insurance cover during this period. They may also refund part of your insurance premium for this period too. This applies if your absence from driving is not related to the insurance cover (for example, you cannot usually do this if you have made a claim because your car has been stolen or damaged). The refund is usually paid when your insurance cover is reinstated again (i.e. when you begin driving again). Insurance companies such as Direct Line and RAC operate in this manner. During the suspension period, your car will still be covered for loss or damage that occurs as a result of theft or a fire, provided that it is locked away in a garage.

What type of insurance do I need?

That depends on where you intend to keep your car while it is not in use. If you are going to be parking your car in your garage to take advantage of suspended insurance cover while your car is off the road, you need to get insurance that covers you against theft and fire, but this will not cover you against third party accidents (which shouldn’t really be a problem if your car is locked away). If you are going to be parking your car on a road, you need to be covered for third party accidents as well.

Do I need to do anything else?

You need to inform the DVLA that your car is going to be off the road for a significant time through the Statutory Off-Road Notification (SORN)certificate, which you can request from them. Using your car while the SORN is in place will result in a fine of up to £5000 and a possible prison sentence. The SORN lasts for a year, and must be renewed if you need to keep your car off the road longer than this. This can be done online at the DVLA website if you have a V11 form, a V58/1 form or a V5C form. Alternatively, you can do it by phone instead. If your local Post Office branch issues tax discs, you can take your V11 form there too. If you want to apply by post, you can request the SORN V890 form, and return it to DVLA, Swansea, SA99 1AR.

Further Reading

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For over 40 years, Texas Trailers has offered the highest quality enclosed cargo, car hauler, equipment, flatbed, lawn maintenance, horse/livestock and utility trailers to customers across the state of Florida and the southeastern United States. We can assist you in designing a custom trailer to help fulfill your specific trailer needs or you may choose from one of the many trailers we have in stock. We are conveniently located on North Highway 441 (NW 13th Street) in Gainesville, Florida and we offer domestic and international delivery. Your complete satisfaction is unconditionally guaranteed on all of our sales and services.

Texas Trailers manufactures a complete line of high quality steel trailers at our location, so there is no middle man. We specialize in fabricating trailers that are custom designed for your specific purposes. We use only the highest quality components, materials, and parts, so that you can be sure your trailer is ready to perform and that it is built to last. Our trailers are hand-prepped with a rust-inhibitive primer and painted with the highest quality acrylic enamel paint. We are behind you all the way with a 5-Year Structural Warranty on Texas Trailers.

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How to Get Off Catalog Mailing Lists #how #to #get #off #email #lists


How to Get Off Catalog Mailing Lists

Updated May 18, 2017

Receiving unwanted catalogs in the mail just adds shopping temptation and clutter to your life. You rarely need to order more stuff, yet all those thick catalogs roll in to tempt you with their glossy photos. Even if you manage to resist looking at them, you still have to throw them away or recycle them, which is just one more thing to cram into an already-too-busy day. And the whole thing seems like such a waste, when you stop to think about all of the trees and energy that went into printing, transporting, mailing and delivering catalogs that you didn t want in the first place.

If you re sick of the whole process, you ll be happy to know there s a simple way to get those catalogs out of your mailbox for good.

How to Get Off Catalog Mailing Lists In the U.S.

Create an account at This is the Direct Marketing Association s consumer website. It allows you to unsubscribe from all catalogs, or to select just the catalogs that you d like to unsubscribe from. You can also opt out of receiving magazine and credit card offers. Once you ve entered your preferences, they ll contact the companies on your behalf to let them know. This process can take from 30 to 90 days, so you won t see an immediate reduction in your mailbox. If you re trying to stop the mail for a deceased relative or someone that you care for, there are forms for that as well. Note that you ll need to pay a $2 registration fee when you set up your account. This fee will give you access to the site for 10 years.

If you re serious about getting off all catalog mailing lists you should also contact Epsilon at optout to request that you be removed from their marketing database. Be sure to include your name and mailing information in the e-mail. Epsilon maintains a marketing database, known as Abacus, that is used by nearly all product catalogs.

Removing your name from their database will prevent you from receiving additional unsolicited catalogs in the future.

How to Get Off Catalog Mailing Lists In Canada

Sign up for the Canadian Marketing Associations Do Not Contact Service at This will remove you from all catalog lists for a period of six years. It takes about six weeks to take effect.

If you only wish to unsubscribe from specific catalogs, you should contact those companies directly, as this is an all-or-nothing deal. Unlike the U.S. service, you can t pick just a selection of catalogs to unsubscribe from. You won t get mailings from any of the members of the CMA. However, it won t stop unaddressed flyers sent to Homeowner or Occupant.

How to Get Off Catalog Mailing Lists In the UK

Set up a free account with the Mailing Preference Service. You ll continue to receive mail from any company that you ve done business with in the past, but will be removed from further unsolicited mailings. It can take up to four months to stop the mailings, and you can register a complaint on the site if you continue to get mailings after that period. A handy feature is that you can register previous occupier names, your previous addresses and the details for someone who has died.

To opt out of unaddressed mail (mail that has been sent to the occupant or homeowner), send an e-mail to the DMA at yourchoice expressing your desire to register for the Your Choice Preference Service for Unaddressed Mail. You ll need to re-register every two years.

Las Vegas Prostitution Lawyers #las #vegas #prostitution #lawyers, #vegas #prostitution #lawyers,las #vegas #prostitution,las #vegas,criminal #law,escort #service,prostitution #illegal,ripped #off,call #girls,law,legal,lawyer,prostitution,escort,criminal,girl,service,call,illegal,police


Las Vegas Prostitution Lawyers

Locate a Local Criminal Lawyer

Is Prostitution Legal in Las Vegas?

No. Although prostitution is legal in many counties of Nevada, it is only legal in counties with a population of under 400,000. Clark County, the county that Las Vegas is in, has a population over 400,000 and so prostitution is illegal.

If Prostitution is Illegal, Then How are There So Many Ads for Escort Services and Entertainers ?
Escort services and call girls can get around the rather lax Las Vegas prohibition on prostitution by not actually offering sex. If you hire an escort, you are paying money to have a girl come to your room, nothing else. Whatever happens behind closed doors is up to you and the escort.

I Got Ripped Off By an Escort, What Can I Do?

If you get ripped off by an escort, there is little you can do. Prostitution is illegal in Las Vegas, so you can’t call the police and tell them you got scammed by a hooker. When you call an escort service, you agree to pay money for the girl’s company, but you cannot find out beforehand what she is willing to do. Because prostitution is illegal, call girls have to be careful to not incriminate themselves when you call them. So, if you try to ask the girl what she is willing to do before she is in your room, she probably won’t tell you. If it turns out that she isn’t willing to do what you wanted her to do, you will still have to pay her. Escort services are notorious for ripping people off.

What Happens if I Get Caught with a Prostitute in Las Vegas?

If you get caught with a prostitute in Las Vegas, you can be charged with a misdemeanor. You may be taken to jail and you may have to pay a fine.

Should I Contact a Lawyer?

If you have questions about prostitution in Las Vegas, you may want to talk to a lawyer to learn more about the applicable laws.

Link to this page

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The pros and cons of getting a degree online #is #an #online #degree #worth #it, #pros #and #cons #of #distance #learning, #should #i #take #online #classes, #are #online #classes #a #rip #off, #should #i #get #an #online #mba, #usa #today #college, #ryan #hickey, #peterson #s


The pros and cons of getting a degree online

Despite significant coverage of online education in recent years, finding a balanced perspective can be remarkably difficult since conversations tend to be highly partisan. Online schooling is either presented as the inevitable and awesome educational wave of the future or talked about as a cheap facsimile of the traditional classroom experience.

For potential students trying to make a decision about their own educational journeys, this can be confusing and even distressing. You certainly don’t want to choose the wrong path for yourself, so how can you know if an online degree program is the right option for you?

Among other advantages, many online programs are streamlining extraneous courses out of their degree requirements. But that s not the whole story.

Here are three objective pros and cons to help you make an informed decision, whether you end up studying online or on campus.

Pros of an online education:

1. Opportunity and convenience.

The initial impetus for creating and advancing online coursework was to provide access for students who could not attend traditional programs. This method of undergrad and graduate education can allow students to attend programs regardless of geography, level of physical ability, or schedule restrictions. All you need is a computer and Internet connection to attend class and complete assignments.

2. Potentially lower costs.

To be clear, o nline degree programs are not automatically or universally cheaper than their traditional counterparts; you’ll need to do some number crunching to find out the total cost of any program and how it compares to other options. In some cases, however, online degrees can be more economical.

Even if an online program is comparable in cost to a traditional one, you may end up spending significantly less online simply because you avoid room-and-board charges while also having greater schedule flexibility to maintain or pursue a source of income.

Many online programs are streamlining extraneous courses out of their degree requirements. Turning out well-rounded graduates knowledgeable about everything from art to politics is a prime focus of many liberal arts institutions worldwide, and while some online programs also offer this type of broad education, many provide more targeted degree options that cut out everything but what you actually need to earn a degree in a specific subject.

Additionally, some online programs are particularly geared toward students who have completed some but not all requirements for a particular field or major, allowing them to finish only what they need to as quickly as possible.

Cons of an online education:

1. Some subjects don’t work.

While most topics can be taught online, there are some subjects that simply don’t lend themselves to study in a virtual environment. For example, if you re considering an online program for a field that requires a hands-on component, such as physical or occupational therapy, some of the pros of online study, particularly geographical flexibility, may not benefit you at all. It can actually be more challenging to pursue such subjects online than it is to study them in a traditional setting.

2. Increased personal responsibility.

If you re accustomed to a highly structured environment, either at work or school, the freedom of online courses can be a little overwhelming. For an online program, not only will you need to make your own schedule for each class, you’ll also need to manage and monitor your degree requirements.

With less in-person access to advisors, administrators, and faculty, finding guidance can sometimes be problematic for the online student. Also, online program requirements tend to change more frequently than those at traditional universities, making it particularly vital that students keep themselves up-to-date on any modifications that affect their futures.

3. Networking challenges.

Strong connections with others, from fellow students to professors, can be essential for gaining acceptance to graduate programs or finding a job after you finish any degree. Such relationships tend to grow more naturally in a traditional environment where people have more frequent face-to-face interaction. For online students, building and benefitting from a network can be significantly more challenging and frustrating than it would be in an on-campus setting.

The quality and variety of online programs is growing every day.

If you’re considering such a program for your own educational needs, don’t get caught up in the hype coming from those who universally praise or condemn online education. Instead, do your own careful research to determine whether you will be better off on campus or online.

Ryan Hickey is the Managing Editor of Peterson s Essay Edge and is an expert in many aspects of college, graduate, and professional admissions. A graduate of Yale University, Ryan has worked in various admissions capacities for nearly a decade, including writing test-prep material for the SAT, AP exams, and TOEFL; editing essays and personal statements; and consulting directly with applicants.

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Best tips to avoid being ripped off by low interest car finance- Car News #chrysler #finance

#ford finance australia


Best tips to avoid being ripped off by low interest car finance

The car industry is expected to use finance offers to mask price rises in the coming months if the Aussie dollar continues to fall. Here are some best tips to avoid being ripped off.

A new car bought with a 0 per cent interest rate can be dearer than the exact same vehicle purchased at a discounted price with a regular finance rate, a study by News Corp Australia has found.

Last month the Nissan Pulsar was available with 0 per cent finance but the deal was linked to a $24,990 drive away price.

The same car was previously available for $19,990 drive-away. With a regular interest rate of 8 per cent, the total repayments are in fact lower than the 0 per cent deal.

According to figures calculated using the website. a car loan for $19,990 paid back at 8 per cent interest over three years amounts to repayments of $624 per month and a total cost of $22,449, not including any establishment fees or extra charges.

But $24,990 paid back at 0 per cent interest over three years amounts to repayments of $694 per month, an extra $2541 over the life of the loan, according to the online calculator.

In most cases the deals are tied to the full price of the car and full dealer delivery charges

Finance experts say car buyers should always find out the total repayment figure on low interest rate offers, and then compare that with an outside finance offer on the price of a discounted car.

“Many car companies use low finance offers to get customers into showrooms. but in most cases the deals are tied to the full price of the car and full dealer delivery charges,” said a veteran car dealership finance expert speaking on condition of anonymity.

“That’s the only way car companies can afford to offer the low interest rates. They get their money eventually. You don’t get nothing for nothing.”

Adding to the confusion for car buyers, some low interest rate deals are better than others.

When the low interest rate is combined with a low drive-away price, the customer is well in front, savings thousands on the repayments of a new car over the life of the loan.

For example, this month Ford has a low drive-away price on three slow-selling vehicles in its SUV range combined with a low 1.9 per cent finance offer.

The Ford Kuga mid-size SUV. for example, has been discounted to $29,990 drive-away in recent months, about $3500 off its full price.

But the company is now also offering a 1.9 per cent interest rate over three years to sweeten the deal, a saving of about $3000 over the life of the loan at 8 per cent interest.

Last year the Toyota Camry was also available with a “double whammy” deal, combining a 1 per cent interest rate with a discounted drive-away price of $28,990, at the time about $7000 off full price.

Interest rate offers are likely to become the new battleground in car dealerships.

The car industry is expected to use finance offers to mask price rises in the coming months if the Aussie dollar continues to fall.

“The finance rate offer is a way to say to customers ‘this is how much the repayments are’ rather than having them focus on the actual price, especially if it goes up,” the dealer representative said.

How to drive a bargain

2) Always compare the low interest rate offer with what’s available outside the dealership. Sometimes dealers can be better than then banks and other outside lenders, and vice versa.

3) Ask if the low finance rate is attached to the price of the car, or is the price of the car negotiable as well.

4) Many low interest rate offers are only available over three years, and the monthly repayments may be higher than a regular interest rate over a longer term loan.