Finance Career Guide and Counseling

Question: What is the better route to finance a new car? I want to buy a used car. Is it better to try to secure financing from a bank before going to any dealerships? Or, are the dealerships more willing to haggle if I finance thru them?

Answer: For a used car, it is typically better to secure financing before stepping foot into a dealership. I would suggest a credit union. If you are considering new, there may be financing incentives on specific makes and models. I suggest securing financing before going to a dealership. Even if you buy a car without financing incentives, you can tell the finance guy "My APR is X % for Y months" and if you can beat it, I will sign with your lender". Just make sure you read everything. Sometimes they will make it appear as if they are lowering your monthly payment and interest rate when they are actually just extending the term of your loan.

Question: What are the professional degree in Finance & Accounting that is accepted globally? I want to pursue a global career in Finance & Accounting. I already have a BBA degree in Finance from local University. Its not good enough.I hard there are some opportunities like ACCA, CFA that gives better competence and winning edge in case of getting JOB In internationally reputed organization. Is there any other professional degree that can be pursued from any country? Where can i find relevant information about it? Any Web address? Please let me know.

Answer: You are right that local degrees really don't help you move internationally.. I would really say the ACCA is best for that... I am a professional ACCA-based adviser - and I know many great programs, but the best that I know of is that of the London School of Business and Finance. They offer full ACCA courses, and can allow you to take the whole program in 2.5 years (assuming no exemptions by the ACCA). They also have some of the highest pass rates in the industry, and are a Gold-level ACCA Tuition Partner. The reason I think that this is the best for you is that the LSBF school offers really great ways to continue your education after the ACCA studies... LSBF allows you to take MBA/Msc after your ACCA study. Currently they are running some great program where some students might get a very-very discounted MBA with the ACCA - but I have to discuss that with anyone interested, personally (because of the qualifications needed). And if you don't want to study in London or Birmingham, you can take the whole course online - which is really great as well.... You - or anyone else interested in the ACCA or the school program - can contact me on Yahoo! messenger/email --- my name on both is thiel_pt_2008@yahoo.com

Question: What are the benefits of a finance major over a simple business administration major? Trying to decide which major I want, I think I want to go into finance, but I am not sure. I know I am going into business- at a business school. Also, if there are any people who have careers in finance, what do you specifically and do you like your jobs? Because I have an internship in finance and accounting and it is pretty boring...but it is just because they don't give me enough work to do so I don't feel like I have had the true experience.

Answer: I've been in Finance for so long that I've decided that I wanted to do a different degree that was along the lines of my future goals... Law. I did my BBA in Legal Studies. I was a Finance major at first. I will suggest that you stick with the Finance Major vs the Business Administration. I mean if you think about what exactly is the B.A. offering you when the bottom line of the degree is in Business Administration? To have a specialty gives you a 'know-how' that makes you more adept in taking on positions that offer stellar pay as Finance and Accounting is known for. Each person is different in terms of what they want to do with their future goals. I normally see students minor in Business Administration if their Undergraduate Degree is in a totally different realm. This is only to signal to the employer that you are versatile and have business skills. If you are a business student I suggest Finance if this is what you want. Finance is definitely interesting and keeps you on the toes not just in the sense of performing statistical analysis but also conducting market and financial research including technical analysis which keeps you in the loop of world news as much as national news. You begin to witness the chain in global commerce & media and how it effects one another and inevitably effects the market as well as consumers far and near. Another point that comes to mind is the institution that is granting the Finance degree. What is their reputation in the Finance Department? Are they first class? Are they top-rated? Usually the "glamourous pay but slave to your job" are firms off of W-Street which hit Ivy league schools to join their Associate or Summer programs. These programs, once selected ..highly selective, gear you up for positions such as equity or fixed-income analysts. Again, the pay is here, the perks are there, but you get no life. If you're looking to have that lifestyle then ensure your alma-matter can deliver. Your grades will obviously have to stand on its own and well .. if you have connections then use them. If you want something more exciting in Business then go for Marketing. I'm leaning to the Marketing aspect in my MBA program which will play instrumental in my Entertainment Law (Law, Marketing, Finance (Budgeting)). Good luck with everything. P.S. I suggest you take a few finance classes (required and as an elective) before you decide.

Question: What is the difference between a finance and a balloon finance? I'm planning on purchasing the all new mercedes benz glk 2010..and when i checked the pricing online the balloon finance is cheaper than the finance. i just want to know what the difference between the 2 deals are.

Answer: Traditional financing means your payments are the same every month for the life of the loan, e.g., $500. In balloon financing, your payments will be lower, except at the end; this will be several times higher. In such an arrangement, your payment may be $350, but your final balloon payment might be $7000. The latter type of financing is what trips up people, as they're able to make the smaller monthly payments at least until something happens - they lose their job, the economy turns sour, they have huge medical expenses, etc. Then they find themselves unable to make that balloon payment. When exploring your options, have you crunched your numbers to be able to afford that car? (This is an important step in preparing for a big-ticked purchase.) Next, do you have enough money saved to be able to cover that balloon payment?

Question: Where to find free start-up finance spreadsheet to show potential investor eg 3yr revenue projection, etc? I co-founded a start-up. Business plan is in the work. I still need to work on the financial section. I know I should have a CFO work on it. But I don't have $$ to pay/hire a CFO. So I get to wear the finance hat too among other roles. Do you know of free finance spreadsheet templates I could download to use? Need to finish biz plan to show potential investors. Can't show current biz plan as is without figures. Biz plan doesn't mean anything to investors without 3 year financial planning such as revenue projection, dev't cost projection, marketing budget projection, potential # of people for hire, other related finance figures of interest to potential investor. Tks for your help in advance!

Answer: http://www.exinfm.com/free_spreadsheets.…

Question: What banks can finance a single family residence under 600 square feet? Hello. I am attempting to buy a foreclosure in San Diego that is a single family residence with a total square footage of 528. I was told it is difficult for banks to finance anything under 600 square feet. The house is in good shape but its tiny. I need financing asap since the bank already accepted my offer. Thanks.

Answer: Are you working with a Realtor? Ask them to suggest someone. If not, Find a Mortgage Broker/Banker who can shop the market for you and find an investor who will finance you. If you cant find anyone, I hope you made the offer contingent on you finding financing, if not, you are out of your earnest money when you back out. Good Luck!

Question: Should I buy a car which is categorized as a finance repossession? Should I buy a car which is categorized as a finance repossession? I checked this preowned car, and AA said there is an existing finance agreement against the car, which is a hire purchase. I told the dealer, and he said this is a finance repossession. He said the finance company has cleared the car. Obviously I will speak directly to the finance company. But do you think it is advisable to buy this type of car? It is a Nissan Almera, so quality-speaking, it should be good.

Answer: If there is an existing finance on the car, the dealer should not be selling it. The finance should have been cleared up by the repo and the car should have a clean title now. There's nothing wrong with buying a repo. It's like any other used car. Some uninformed people might advise against it because they think such cars have been abused by the owners, knowing that they are going to lose the car. This is rarely true. The repo usually comes on quickly, in a matter of a couple of months, so there is little time to abuse the car. It wouldn't be smart anyway, because the car would sell for less at auction, and they would owe a larger balance on their loan after the repo.

Question: How would I convince a bank to finance my business? Say I got a bank to finance my business, the product which I sold ended up being a failure on the market and now the banks don't want to finance my business. What could I do to convince them to help me finance for my new product?

Answer: You'll need a good solid business plan and have figures and answers to back it up. Plus some money out of your own pocket.

Question: What is the name of a popular finance program? Personal finance software helps you balance your checkbook and manange your finances. What is the name of a popular personal finance program?

Answer: what is wrong with a pen and paper works real great if the electric goes off!!!

Question: What happens if a finance company never repossesses a vehicle that has been discharged in bankruptcy? What happens if a finance company never repossesses a vehicle that has been discharged in bankruptcy? No payments have been made in 14 months...Bankruptcy discharged in June of this year. Finance company has our current address and phone number.

Answer: Auto finance is what I do for a living and this is very strange. I would have to say since they have made no effort to take the car they must think that it's not worth the time and money to take it back. This leaves you hanging though, without a lien release you can never have a free and clear title so while you can tag and drive the vehicle you can not sell it. I would call them if I were you and see if you can work something out. Good luck.