auto loan rates

December 31, 2009

How do you set up the inequalities etc for this problem?

ccc asked:

A bank is attempting to determine where its assets should be invested during the current year. At present, $500,000 is available for investment in bonds, home loans, auto loans, and personal loans. The annual rates of return are:

Bonds=10%, Home Loans 16%
Auto Loans 13%, Personal Loans 20%.

The amount invested in personal loans cannot exceed the amount invested in bonds.
The amount invested in home loans cannot exceed the amount invested in auto loans.
No more than 25% of the total amount invested in auto loans may be invested in personal loans.

Help the bank maximize the annual return on its investment portfolio by formulating the linear program.

Please use w,x,y,z for variables so I can follow along… Thank you for helping out.


December 28, 2009

With Cheap Auto Loan Rates, Enjoy the Drive

Frank Dervin asked:

In todays fast pace life, time is money. Hence, the more time you save, the more you earn. Now, probably, you can’t continue using the public transport for ever. Because, if it is cheaper service, it requires more time than otherwise. So, there comes a time when it is better to spend a little on automobile than spending more time. Because, for you time is more important than money. But even in this case, when you have handsome earning and a good credit, paying full amount of money at once to buy a car is not something everybody can afford. A monthly installment scheme which will help you get a car should work out better. Auto loans rates offers you just that very installment scheme you are looking for. So now your car is not a far away dream. Very soon you can enjoy the drive…

Auto loans rates is a secured loan scheme where the car that you would own should be kept as a security. This security helps reduce the risk in the minds of the lenders. You have two schemes to repay this loan. You have to give some down payment to receive this loan. The auto loans rates short term loans and the auto loans rates long term loans. The difference is very simple and yet it makes you choose. The short term loans have a comparatively higher rate of interest while the long term loans have a lower rate of interest.

The short term loans are to be paid off in about 5 years while you have as long as 20 years for the long term loans. You have varied options to visit lenders to get auto loans at cheap rate but the most convenient is to sit in comfort of your home, search online and shortlist an auto loan provider who offers cheap rate. Log on to the particular lender’s website and fill out the online form and submit it. It just takes minutes for your loan to get processed. Everything is done fast and you get your loan within a few days of applying. But before choosing the lender, do your homework properly. Make sure you get the loan at the best rates.


auto loan approval question # 2?

Filed under: Credit — Tags: , , , , , , , , , , — admin @ 7:55 am
quiksilver_army asked:

Okay… I asked a similar question before but this one is about me…. I want a 80k vehicle (my dream car)…. ive been working with my company for a year now, and I just got offered the permanency, making about 60k pre-tax a year…. i pay about 800 a month for my home… and PenFed is offering me a 4.99% rate for a vehicle.

I have impeccable credit… like seriously impeccable…. never debted, never maxed out.. i have about 17k in savings (in one year!!!) now, im willing to wait to save more if necessary to not pay as much, but ive always been good at sacing money for the things i want, now my question comes as

can i afford my dream car? and when can i afford it? how much would i pay and would banks even take two looks at me before sending me out the door?

I could have a cosigner…. but I want the independence of not needing my parents for this…now… i am strictly budget minded and have totalled monthly expenses to an avg of 1,200 a month (rent included)

any ideas?
i have a clean license, if that helps… and this would be my second vehicle (the first one was bought cash)


December 27, 2009

How is the best way to pay off an auto loan?

Filed under: Personal Finance — Tags: , , , , , — admin @ 11:20 am
thehoydojo asked:

I am working out a budget for what I can afford and figure that $250.00 a month is beneath a comfortable sum for me and is very safe.

More than likely I’d be refinancing the vehicle through my local credit union at a lower rate and for the credit score bump after I purchase it, but what I am curious about is what type of terms I should get.

Is it better for me to get a lower monthly payment/longer loan but then pay extra on the payment or make double payment. Or just to get a loan for what I can afford each month/short loan.


December 26, 2009

Where Can I Find The Lowest Auto Loan Rates?

Filed under: Credit — Tags: , — admin @ 11:52 pm
John asked:

Hi I’m looking for a site with really lowest auto loan rates.Could you please suggest me one?


December 21, 2009

Paying off a loan earlier or not?

mrssmith1227 asked:

I have an auto loan and a student loan. The student loan only has a 2% interest rate.(which I am not worried about) while the auto loan has an 8.99% 5 year loan interest rate….My husband was told to better our credit would be to make the minimum payments on the auto loan. However all my life I have been told to pay it off as fast as possible. I guess my question would be do I put as much extra money towards the loan as possible and pay it off in say 18 months or so? or to make the minimum payments and pay it off in the 5 years? If I pay it off in the five years I will be paying almost 10 grand more in interest. So which is really better for my credit to make the minimum payments or to pay it off fast?
the auto loan is only a few months old. I’m not really in a financial bind. i just want to whats best all around. Its just after my husband heard this he is stuck on making the minimum payments.


December 16, 2009

I am stressed and need your help regarding an auto loan?

jmh60441 asked:

Ok. I have been divorced now for 2 years and am really happy with someone else. The problem is that my ex-wife really did a number to my credit. She took out cards in my name, charged excessively, etc, etc. Long story short, I had to pay a huge some as part of the divorce agreement to close all accounts. I am now taking a new job and have to give up my company car. The nice thing is that it is a great salary and car allowance. When this should be an exciting time for me, I am really stressed about having to get a car with this credit rating. I tried last night at and was instantly denied which isn’t a good sign. My score is in the low 600′s now. I realize a dealer will get a loan for me, but I’ll be probably 18-22%. Is it possible to refinance after a year to get out of that? I have to get a car this week and really need some advice on how to proceed based on my position. I don’t have the $ to pay for a cheap car upfront either. Looking for used car.

It’s really sad that people even try to scam you on here, it’s actually pretty unbelievable. For those that posted trying to scam me and who obviously can’t even put a sentence together…….nice try. Do you actually think I’m that stupid?????????


December 11, 2009

Auto Loan Rates – What Are They?

Alan Drakovic asked:

Most buyers have this very same way of thinking when buying a car: the moment they set eyes on the car they want, they immediately fall for it and brought one home without determining the rates that come along with it. Feeling the same thing is typical for a wise and responsible buyer, what with its spectacular profile and seamless totality, the preferred car would surely be a hit. But the big difference is, a responsible buyer would primarily ask for auto loan rates prior to taking the car home, something that impulsive buyers wouldn’t dare think of.

So, what are these rates in the first place? Auto loan rates are charges estimated as a percentage of a higher figure given to a borrower on the condition that it will be repaid at a specified period of time. There are two types of auto loans and each type represents different rate calculations. The secured auto loan is deemed as a type of loan that provides a borrower with competitive interest rates and fees, longer tenure of repayment, and greater loaned amount. Conversely, an unsecured loan is a type of auto loan that offers expediency especially to those people who prefer faster approval with lesser documentations and paperwork to accomplish. However, auto loan rates are changeable reliant on the type of loan you choose, the security you provide or collateral for secured loans, if any, and the amount of your initial payment.

To get a good rate on your car loan, you would need to follow these simple tips:

1. Look for credit union offers. They mostly give the lowest rates compared to rates offered in banks.

2. Look for pre-approved offers. Asking your bank about this will allow you to extend your negotiating capacity. Since you have an idea as to how much the amount of loan you can get, it is much easier to negotiate with different car dealers.

3. Look for the shortest tenure loan. This is more advantageous weigh against longer-term repayment process as interest rates are lesser and more economical.  

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