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How to Finance a New or Used Car and Grow Your Repayment Money

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Car Loans in Australia | 180077768 Ever thought of how great it would be if the your car downpayment money pays for the entire loan amount? That can happen if you are enterprising enough. Entrepreneurs rarely pay in cash because they know that they can use the money for other ventures and still grow it. --- For quick car loans visit 1800 Approved Finance Solutions 33 Ereton Dr. Arundel, QLD 4214 1800277768 – PowerPoint PPT presentation

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Title: How to Finance a New or Used Car and Grow Your Repayment Money


1
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
http//www.1800approved.com.au/
2
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
  • Yes this is actually possible. It takes effort
    and knowledge but who wouldn't want to earn more
    money than they owe right?

3
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
  • Depreciation will already eat the value of your
    car so you are literally paying more than the
    car's value especially if you are in a longer
    loan term or the interest rate is high due to
    some other circumstances.

4
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
  • So how does it work? Business and investments.
  • Let's say you're looking to buy a used car valued
    at 15,000
  • Down Payment 20 (3,000)
  • Interest rate 6
  • Loan Term 60 months
  • Monthly Repayment 232

(Figures are for demonstration purposes only.
Actual values may vary)
5
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
  • Should you pay more for the down payment?
  • It really depends but I suggest paying 10 to 20
    max. I'm not a fan of the "no downpayment" scheme
    because interest rates are relatively higher.

6
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
  • The reason why you want to pay a low down payment
    is so you have more money on hand. You're liquid.
    You can then use that money on investments that
    will pay off your loan.

7
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
Should you go for a shorter or longer loan
term? I say go for the maximum loan term. That
way your re-payments are lower and are easier to
earn. So, let's say you were able to save up
6,000, supposedly, for the down payment but
instead of giving the whole amount you only pay
3,000.
8
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
You can then use the remaining 3,000 to invest
or start a business and make sure you earn at
least 232 each and every month for 60
months. 232 is a little less than 8 of
3,000 If you're any good, you will be able to
earn way more than that and even have a solid
business after 5 years.
9
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
  • What's the best business to start?
  • Buy and sell is on top of my list since you can
    have a good mark up on products especially if
    its unique and there is not a lot of it in the
    market.
  • You may also diversify and put some of the money
    in bonds and shares of stocks but those are
    generally for long term investing and may not
    provide the immediate ROI that you need.

10
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
Offering services is also an option. If you have
a skill that people will pay for like Photoshop
skills, photography, video editing, etc... you
can use some of the money to buy equipment and
then offer your services. This is the most cost
effective since you only substitute your time and
expertise for the money. And you can usually
charge higher once you've gained a good
reputation.
11
How to Finance a New or Used Car and Grow Your
Repayment Money at the Same Time
Whatever business or investment you come up with,
just make sure to focus and give it your best so
you can earn the money for the repayment and
more. Imagine how good you will feel if the
3,000 you saved from the purchase eventually
paid up the entire car loan amount plus interest
and even put more money in your pocket.
12
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