Tips & Advice
How can you negotiate a good price with a car dealer?
If you want to negotiate a deal with a car dealer know what you want going in, understand the market value of the car, and have a budget. If a dealer will not negotiate, simply go to their competition (even between dealers of the same brand)--someone will lower the rate to get you into the car. Be sure to shop late in the year or at year-end sales when dealers are purging inventory for the new models. here are also many places to shop online and get a new car without even leaving your home.
Is it better to get a car loan from a bank or a dealer?
It is better to get a loan from the lender that gives you the best deal. Lending institutions are in this to make money and that can fuel fierce competition for your business, which gives you the advantage. Dealerships can offer great financing deals if you look around and shop the competition – and so can banks. Get rates and compare. Chances are good someone will look to beat competitor’s quotes, especially dealerships that are pressured to make sales quotas, often in lieu of actual profit on the vehicle.
How much of a down payment is required to buy a car?
All down payments are different and are determined by several factors, starting with your credit. If you have good credit you might qualify for no down payment. How much is the car? Are you buying or leasing? Is it a new or used car? Is it a dealership or an independent car lot? What are your financial capabilities? All of these will factor into your down payment and future payments. Be aware that if you go with no down payment, your actual monthly payments will be higher. You are still purchasing something over a period of time, and they have to recoup that money somewhere. Some dealers use no down payment as an incentive to lure you in, but that doesn’t necessarily mean you are paying less.
Can you trade in a car that is not paid off?
Absolutely! It is very common to trade in a car that is not fully paid off. The dealership assumes the remainder of the contract and you get a new (or pre-owned) vehicle.
Do car dealerships buy cars?
Many, but not all, car dealerships will buy your car. Practically all of them will accept your car as a trade-in if you are buying a car from them. Used car dealers make their living on buying and selling used cars. If they think can make money on your car, even if it is as a trade-in that puts you in a new car of theirs, it’s a good bet they will buy your car. Luckily there are so many options now for selling your car, you should not have a problem finding a buyer quickly, just with a little research.
What are financial products?
Financial products are designed to help you achieve objectives such as saving money, obtaining insurance, establishing a line of credit, investing, or getting a mortgage. Financial products are issued by organizations such as banks, credit unions, investment management firms, mortgage companies, insurance agencies, credit card companies, and stock brokerages.
What is a financial consultant?
A financial consultant is a professional who is qualified to provide guidance in the area of financial management. Some of these experts work for financial institutions, while others are self-employed and work directly with the public. A financial consultant can help you develop a financial strategy focused on savings, retirement, investments, or insurance, and Many are licensed to sell financial products such as stocks and bonds.
Types of financial services
- Financial planning: With financial planning, a financial adviser can help you chart a course to achieve a specific financial objective. Financial planning can be focused on things such retirement planning or funding your child's college education.
- Insurance: Insurance can be used to protect your most valuable assets, and policies are available to cover items such as your car and your home. Insurance can also be used to provide a source of income if you become disabled, and it can cover the costs associated with long-term care. Life insurance can be used to provide funds for your dependents after your death.
- Investment management: A well-chosen investment portfolio can provide you with consistent income over the years, and professional investment management can provide guidance to make smart portfolio choices. Investment management might involve the purchase of products such as stocks, bonds, and mutual funds.
- Loans: A loan can help provide the funds you need to finance large purchases, and can cover your expenses in emergency situations. Loans can be used to finance the purchase homes and cars, and they can be used to provide the funds for home remodeling or major car repair.
- Credit cards: A credit card allows the holder to purchase goods and services using credit issued by the card's provider.
Trust and estate planning: With trust and estate planning, you can create a strategy to ensure that your assets are passed on to the beneficiaries of your choosing.
What do financial services companies do?
Financial services companies provide financial planning, insurance policies, estate planning, investment management, loans, and credit cards. These financial services companies include retail and commercial banks, internet banks, stock brokerages, credit card companies, insurance companies, investment banks, credit unions, savings and loans associations, and mortgage companies.
What are financial services?
Financial services are professional services associated with the management of money and assets. These services include investment activities, such as those related to stocks, bonds, and mutual funds. Loans and lines of credit also fall under this umbrella. Additionally, financial services include insurance coverage and tax preparation.