Finance Questions

Archive for November, 2009

Question: deferring a car payment with Honda Finance?

does anyone have any experience with Honda Finance and payment defrements? I have deferred a payment app 3 months ago, and now have lost a job, I called to ask for help with another dferrment and was told they could not help, you can defer a car payment one time per year. I am trying to hang on to this car till i am able to refinance, short of the repo thing i thought they would be willing to work with me on this..any ideas, experience with this please let me know…thanks again

Answer: The lender and the terms of the loan agreement determine eligibility, in most cases it can only be done once a year.

Call back and speak with Honda Finance again, see if the interest rates are currently lower than what you pay and if they could refinance the car at the lower interest rate. They might do this if you have a history of good payments.

Below is a link that will also provide you with information.

http://www.edmunds.com/advice/finance/articles/140846/article.html

2010 Honda Insight – LA Auto Show Video – NewCars.com

Question: Which car would you choose? Husband is buying a car?

Brand spanking new Ford or a used Volvo with 80K miles on it? Same price. Husband and I will be buying a car cash soon enough. We are anti financing so paying cash will allow for these sort of choices. Which would YOU pick?

Answer: Although I was and remain a fan of Volvo product the influence Ford has had on the brand does not make it a good choice these days.

In buying a car these days there are a number of questions you need to answer before any recommendations would be applicable.

How is it to be used?
Daily driver?
Length of commute?
Space for groceries?
CHILDREN?
Travel plans?
Service availability?

I think you are on the East coast so service should not be that tough but were
you in Nebraska I would not say Volvo.

The cost of service may take Volvo out of the mix and the frequency of service for quirks might also do the same thing for Ford.
I guess I would say neither.

In the auto market today I would look at mostly Japanese brands and have had very good luck
with Honda, Toyota and Mazda.

Personally, I would not buy a Korean brand. Kia is very near Saturn status and may be shut down to defer to the parent company Hyundai. They may make good cars but much like out Saturn may fall victim to a shrinking dealer network.
As is usually the case the better of the U.S. brands have been shut down , Pontiac and Saturn.
Saab has been spun off and who knows where it is going.
Volvo has been Fordized and is no longer the reliability king it once was. 80,000 miles puts you right in the range for replacing high price items like, alternators, timing belts, water pumps, rack and pinions etc etc etc.

For the same money i would take a good look at Mazda 3 or Toyota Camry or Honda Accord.
With 80K Toyota and Honda are just warming up.

A 2009 Mazda 3 with 35K is less than $15K.

Geely Completes Purchase of Volvo; BNP, HSBC Profits: Video

Question: What would this person be guilty of by law and what sentence should they get (in UK)?

A Finance Director (millionnaire) of a large charitable organisation has been raking in money through running an employment agency and making sure that temporary staff are only supplied through his company (little known to the charity that he is the director of it). on top of this he created multiple invoices and fabricated the amount of hours worked for these staff, thereby ensuring that he can enjoy a penthouse apartment in London and one in Edinburgh through his enterprise.

What terminology would a lawyer use to classify this and what penalties should this person be dealt?

Answer: Top of the shop is fraud but you can add to that criminal liabilities for his breach of fiduciary duty as a director of a charity. His failure to source staff on the most economically advantageous terms for the company for which he was a director is a breach of the position of trust which he holds and the charity would be compelled by statute to assess and recover any economic loss from the director personally.

Invoice factoring UK. How a factoring facility can improve your cashflow.

Calculating Economic Order Quantity or EOQ is easy with the Economic Order Quantity formula. Below is an Economic Order Quantity calculation you can use as an example in learning how to calculate the Economic Order Quantity.

Example of Economic Order Quantity calculation

Whenever you have to calculate the Economic Order Quantity, remember the Economic Order Quantity formula:

Where:

• C = cost of carrying a unit of stock for one year
• O = cost of placing an order for stock
• D = annual demand in units

Suppose you are calculating the Economic Order Quantity of computers for a ma and pa store. If each year, 10,000 units are demanded and the cost of replacing an order is $5000 whereas the cost of carrying is $50 per unit, then:

The cost of carrying for 10,000 units is $500,000 and the Economic Order Quantity is:

Question: Would you do it or not?

Would you trade your Toyota Celica GT-S in for a Subaru Impreza WRX-STI? The reason why I ask this is because, I’ve had my Celica GT-S for some time now. I loved that car when I first got it, and I still love it. Instead of financing I’m going to save up money and buy it straight cash off the lot. No more car payments, and over paying for a car. Now…with that said. The Celica looks better, it’s going to be a classic and a collectible because they don’t make them anymore. Subaru Impreza WRX-STI is faster, it has four doors instead of two like the one I have, and more roomier inside too. My friend had one and I was in the passenger seat of one. That car can blow a mustang away easy. LOL Whew! If I keep my Celica, it would look better plus I can make it faster than the Impreza with a turbo kit put in years down the road. I am to make it as fast a Mustang maybe equal to a Corvette in horsepower, and jack up the RPM’s on it too. Decisions, Decisions.

Answer: It sounds as if you are really in to the Celica. Personally, I would stick with that route. It will more then liekly be worth more money down the road if it is still in good shape, and as you stated it can be tuned to perform much better.
It is probably also much easier to find aftermarket part for the Toyota, be they off brand or from Toyota (Toyota Racing Development or TRD, check it out on the web.)

To top it off, a tuned Celica will bring in more money later on just in the tuner world alone. As you stated, they don’t make them anymore, so as time goes on, it will be harder to find them in good condition, which kicks the value up a good bit to anyone who is looking for one.

And on a side note, don’t get hooked to the idea of eating Mustangs and Corvettes on a regular basis. A stock car of that type may fall to a tuned import, but those cars can be tuned just as much as anything else, with more of a base to work from.

Good luck, be careful, and have fun with the mods.

NISSAN GTR – YOUTUBE CAR?