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Q. I have a ten month old baby boy and staying home is not an option anymore. How can i obtain a car quick with a credit score less then 400?
what is buy here pay here? can someone explain the details? and Im not worried about getting screwed in the interest rates. Thats fine, as long as my son is safe.
what is buy here pay here? can someone explain the details? and Im not worried about getting screwed in the interest rates. Thats fine, as long as my son is safe.
Answer
A "buy here, pay here" lot is one of these mom-n-pop small lots you see everywhere, with "We finance" and "no credit needed" signs posted on their property.
Expect Draconian terms on the loan, meaning they'll repo the car if you are even a day late. Expect them to put a GPS-like device somewhere on the car, so they can monitor its whereabouts if you skip payments and they need to find it. Also, expect them to install a ignition-kill device that uses a code to start the car. How do you get the monthly code? Yep, by making the payment.
Now, they may or may not have all devices installed, but don't be surprised.
They will have marginal-quality cars, usually domestic sedans that they can get at auction cheaply and resell (Neons, Cobalts, Tauruses, Stratus, etc.). These cars will be very overpriced, usually the down payment they require will cover their investment in the vehicle.
BEFORE you agree to "buy" the car, make sure they'll let you take it to a licensed mechanic (spend about $50 or so) to check over thoroughly.
Lastly, make sure you read and understand the finance contract you will sign. You need to know these things:
1) What happens if your car is repo'd... are you responsible for the remainder of the loan? Is your car auctioned? Or do they just resell your car and "blacklist" you?
2) Interest costs over the life of the loan.
3) Prepayment penalties if you come across a windfall of cash and decide to pay the loan off early.
4) Warranty coverage. You need it in writing, you need to understand it. If there is no warranty, the car is "as-is" and you are on the hook for repairs.
5) Do they report to credit agencies? Some do, some don't bother. If they do, it can help your score.
A "buy here, pay here" lot is one of these mom-n-pop small lots you see everywhere, with "We finance" and "no credit needed" signs posted on their property.
Expect Draconian terms on the loan, meaning they'll repo the car if you are even a day late. Expect them to put a GPS-like device somewhere on the car, so they can monitor its whereabouts if you skip payments and they need to find it. Also, expect them to install a ignition-kill device that uses a code to start the car. How do you get the monthly code? Yep, by making the payment.
Now, they may or may not have all devices installed, but don't be surprised.
They will have marginal-quality cars, usually domestic sedans that they can get at auction cheaply and resell (Neons, Cobalts, Tauruses, Stratus, etc.). These cars will be very overpriced, usually the down payment they require will cover their investment in the vehicle.
BEFORE you agree to "buy" the car, make sure they'll let you take it to a licensed mechanic (spend about $50 or so) to check over thoroughly.
Lastly, make sure you read and understand the finance contract you will sign. You need to know these things:
1) What happens if your car is repo'd... are you responsible for the remainder of the loan? Is your car auctioned? Or do they just resell your car and "blacklist" you?
2) Interest costs over the life of the loan.
3) Prepayment penalties if you come across a windfall of cash and decide to pay the loan off early.
4) Warranty coverage. You need it in writing, you need to understand it. If there is no warranty, the car is "as-is" and you are on the hook for repairs.
5) Do they report to credit agencies? Some do, some don't bother. If they do, it can help your score.
What is the hotest items or have a big demand in egypt ? in electronics ?
Q. I am from the US., traveling in 2 weeks & need to bring some hot items that i can sell there --any ideas --plus playstation 3
Answer
Well, before you travel make sure that you know that you will pay customs fees on entrance for every electrical item and your bag will be checked by the customs officers. Electrical items are hot taxing items by law. Will your profit making plan still be worth it?!
If you are able to pay duty and know exactly what you are doing...
*Wiiii and games and accessories at a good price
*i phone - people either love it or hate it
*Unusual things like baby monitors/walkie talkies
*PDAs are not for sale in Egypt but professional people do want them (HP / Palm TX / DEll 51 / etc)
* The Nokia N95 and similar phones are very popular but not sold in the major shops due to s'thing to do with it's gps
People want good high tech items at low prices.
Also remember that most things are available in Egypt now we are moving up in the world...!
;-)
Well, before you travel make sure that you know that you will pay customs fees on entrance for every electrical item and your bag will be checked by the customs officers. Electrical items are hot taxing items by law. Will your profit making plan still be worth it?!
If you are able to pay duty and know exactly what you are doing...
*Wiiii and games and accessories at a good price
*i phone - people either love it or hate it
*Unusual things like baby monitors/walkie talkies
*PDAs are not for sale in Egypt but professional people do want them (HP / Palm TX / DEll 51 / etc)
* The Nokia N95 and similar phones are very popular but not sold in the major shops due to s'thing to do with it's gps
People want good high tech items at low prices.
Also remember that most things are available in Egypt now we are moving up in the world...!
;-)
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