Finance Questions

Archive for May, 2007

Question: Getting a law degree vs. Masters in taxation?

I graduated college with an undergrad in accounting and finance. I am currently getting my cpa and working as a tax accountant.

I am trying to figure out if i should pursue a law degree or get a masters in taxation. If I get a law degree,I am interested in specializing in tax law.

I have allways wanted to attend law school, but I am told that there is an excess amount of lawyers, thus depressing wages. Further, my work will pay for a masters in taxation, but will not pay for a law degree.

What do you think, law degree or masters in tax. To be honest, law school is a dream, but I think about alternatives, b/c of cost.

Answer: WARNING: Jobs in the field of Law are drying up FAST!!! This is NOT a good field to invest in right now!!! Reasons: like you said: there are too many lawyers in this country (USA), there are TOO MANY law schools in the USA that continue to churn out TOO MANY attorneys and legal support staff.

My vote > Master in Tax.

Two subjects that can help beyond exams — Finance and Taxation

Question: Can I get out of my Finance to Lease a new car?

Hi, I am financing a 2005 Buick Century and would like to know if there is any way that I would be able to end my finance and lease a new vehicle. My payoff amount is $14,000, and the vehicle is worth around $11,000. Would they just tack the extra $3,000 onto my lease or is this not possible? What can I do? Thanks!

Answer: If you are currently financing the Buick, you will need to use it as a trade-in. You will be responsible for the difference between the dealer’s trade-in off and your payoff. Assuming your dealer offers you $11k, your negative equity will be $3000. It is also possible that the dealer will offer you less than the $11k you seek, making your negative equity that much more. Then when you lease your new vehicle, they will roll that amount into your cap cost (sale price) and you will be making lease payments based on that.

I advice against doing this however. You may be better off selling the car privately so you can get more money for it. Then payoff the remainder of your Buick’s loan and lease a new car altogether. Otherwise, your monthly payments will be a lot more than you expect. When leasing, you do not want to carry over negative equity from a previous car, you want make the selling price the lowest as possible, keeping your monthly payments low.

Atlanta Owner Finance, Lease Option, Rent To Own

Question: My Friend owns a used car dealership and he is looking for a new slogan?

My Friend owns a used car dealership and he is looking for a new slogan for his business.
Can you please help me think of a good slogan.
The name of his dealership is “Houston Auto Finance”

Will Be appreciated.

Answer: Don;t Take a Chance.
Go to Houston Auto Finance.

Guaranteed Auto Credit Testimonial, Oklahoma City Used Car Dealer, Credit Car Financing

Question: Need title or lien release letter,but original finance co. has been bought and new company has no record of me

How can I secure a car title or lien release letter from Citigroup Financial who bought my original Finance Company Transouth.
I’ve been getting the run around from them stating they have no record of my car and car payoff 3 years ago. Unfortunately, I do not recall my account number with original Finance Company (transouth). Can someone advise me on how to secure a title and or lien release letter so I can sell the car?
In advance, thanks for your assistance.

Answer: What you need is a letter form them saying that they no longer have any record of a lien on your vehicle. They wording is:

To whom it may concern,
Citigroup Financial, the successor to Transouth, no longer has a security interest in the following vehicle.

Year Make VIN

Signed

Title

If they have no record of you owing money, the should issue the release. If they will not, you may need to consult a lawyer!

Edit to note that bostonianinmo is correct in that some, not all states require the letter to be notarized. Some do not. For example, in Maryland it is not required.

Question: Is the money you get from Student Finance England separate to the money received from the Student Loans Comp.?

I have just received my payment schedule letter from the Student Loans Company and it is far less than the money that Student Finance England say I am getting.

Answer: Student Finance England process your application and the Student Loans Company are the ones who pays you.

If there is a difference in the amount it says on your Financial Notification letter than your payments schedule then contact Student Finance England as soon as you can to find out why.

Hope that helps

Excel Finance Trick #8: Complete Loan Analysis