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Quad Bike Finance – Getting The Best Deal!Picture this – You see a Quad Bike, ATV or Buggy for sale and you have not got the cash right now but would love to buy it, so what do you do?Would you either call in to the bank, building society or even an online finance house and see if you could get a loan to pay for that dream machine, right?Well before you do, I would like to open those eyes to a little known trick that has been around for some time yet is not obvious to the untrained eyes. Sit back, relax and let me show you just how clever some of these loan companies really are.Typical Examples
A typical example is the normal way a finance or lending facility displays it’s rates to give you an idea of how much you will have to pay back on say a loan agreement of £3000 over 36 months – with a Typical APR of say 14.9%. The law states that anyone quoting APR’s has to demonstrate this type of example, but is it giving you the complete picture?Personal Loans
Quad Bike Finance is something that you don’t see advertised due to lending companies not being able to calculate future values of machines. This has meant that most lending facilities design something on a personal load basis so you can fund the future purchase of a Quad Bike, ATV or Buggy.APR
Looking at an APR can sometimes be very difficult to calculate how much interest you will be paying over the period. The reason for this is because the APR will vary depending on the amount you borrow and the period of time you take it over.The smaller amount you borrow and the shorter the term will increase the APR figure, and the more you borrow over a longer period will reduce the APR considerably. To get some idea of how much you are going to pay back in interest you have to know the basic lending rates.Should you wish to find this out, all companies must, on request, tell you what the base rate of interest is that you are paying. A typical example of how to work out what you will be paying back is displayed below.Example – £3000 over 36 months
If the base lending rate of interest is 7% then you need to do the following calculation to work out how much your Quad Bike or ATV will cost you.3000 x 7% = 210 x 3years = £630£3000 + £630 = £3630 total borrowed including interest.Divide this by 36 = £100.83 per month.Arrangement Fees
Some lending companies will include two other fees which are the loan set up fee (loan arrangement) which is added to the first payment – and the cancellation fee which is added to the last payment. This will then remove your details from the finance register to say you have cleared the full amount.An example of how much you will pay will depend on where you borrow the funding from. Banks seem to add the most on so they can reduce the lending rates making the APR look more attractive. (Sometimes between £100 & £150 set up and the same for cancellation.)Finance companies will be slightly lower with set up costs between £85 and £125 depending on which facility you decide to use. An average cost to set up a loan with any major finance organisation should be between £90-100.

PROBLEM Since early 2006 to the present our financial system in this country has been in disarray and significantly crippled. Hundreds of banks have already failed and been closed; hundreds more have been forced into mergers (shotgun marriages) with stronger banks; hundreds more are operating as “zombie” institutions-they look like banks and they try to act like banks but they cannot make loans. Most of the “too big to fail” banks based in New York, California, or Atlanta appear to be operating normally, but the truth is they are not lending to the “little guy”. They are lending to the publicly traded corporation primarily. In plain English, getting a loan from a bank for the average borrower is next to impossible.SOLUTIONS – Don’t operate your business or don’t do the transaction
- Pay all cash-don’t borrow
- Borrower from non-banks-friends, family and private lenders
- Do transactions using non-traditional methods-creative financingJUST WHAT IS “CREATIVE FINANCING? Creative real estate financing is an all-inclusive term. It essentially means arranging a transaction whereby any and all types of financing is considered to do the deal. Most or all of these types of financing happen to fall outside of the standard government mandated banking guidelines and restrictions. The financing vehicles considered do not conform to Fannie Mae, Freddie Mac, FHA, VA, or other HUD guidelines.Examples of “creative” financing vehicles are: Private Party Financing, Seller Financing, Bank lending that does not comply with the HUD guidelines, Exchanging Equities, Lease with Option Financing, Contract for a Deed Financing, Equity Sharing Financing, Home Equity Financing, Credit Card Financing, and any combination of the above.EXAMINING “CREATIVE FINANCING” TOOLS INDIVIDUALLYOf all of the various types of creative financing tools mentioned above the most common and the most easily understood is private party mortgage financing, which includes seller financing. The underlying concept is that the bank is not involved in the transaction and the private party lender takes the place of the bank. There are many advantages to removing the bank form the transaction. The main benefits are:- Qualifying (accepting) the borrower is the decision of the private party
- Qualifying (accepting) the property is the decision of the private party
- The interest rate and the monthly payment is the decision of the private party
- The maturity date of the loan (balloon date) is the decision of the private party
- The down payment amount is the decision of the private party
- The time necessary to close the loan is much shorter
- A valuable, long-term stream of income is created
- The interest earned may be higher than any other available investmentAll of these benefits, when combined, make private party mortgage financing a very powerful tool to cause a transaction to close that otherwise would have failed. And, additionally, they may offer investment benefits not elsewhere available.THE OTHER SIDE OF THE COINNow, after examining the benefits of private party financing, we should, in fairness, look at the negative aspects. No tool is the perfect tool for all jobs, and no type of financing is the perfect type of financing for all transactions and for all people.The negative aspects are summarized below:- Emotionally, not everyone is comfortable waiting for monthly payments
- Emotionally, not everyone is comfortable with financial details
- Emotionally, not everyone is comfortable with a risk of loss
- Emotionally, not everyone is comfortable doing something new
- Practically, a lump-sum of cash may be needed nowMAKE IT A WIN-WIN TRANSACTIONIt is very important to honestly and objectively evaluate each part of the financing transaction. The goal is to make it be a win-win transaction for both parties. Are the personalities of the borrower and the lender compatible? Has the note and mortgage been properly structured so that there is a high probability that the borrower can meet his obligations over the term of the loan? Has the lender anticipated accurately his future need for cash flow income and lump-sum income?As with most important things, the devil is in the details!In subsequent articles we will examine some of the other types of “creative financing”.

A millionaire mindset is not possible without the right experience in business education. If you look at the number of people today who appear in the same nine to five work, they still end up with a tiny bank account after twenty years; you know that you need to have the right strategy in order to end up a millionaire. If you look at the financial experts, they would tell you that your financial security is not tied to your corporate commitment but rather tied to your investment decision-making.There are people who committed grave errors when it comes to their investment commitment, mainly because of their lack of knowledge on how finances work. If your goal is to be a millionaire someday, you want to consider a variety of options than be stuck in the same work with mid tier compensation.Do you know that it is possible to end up a millionaire upon retirement (even with only a middle class income)? One of the many ways that you could do if you receive an income coming from a steady job is to examine investments. Investing may not be an easy job, but if you get the hang around of things, you will be able to get a strong sense of formal decision-making skills.Investments may not always be returning enormous profits, but if you make your research and you have the millionaire’s gut feeling and risk taking attitude, you might as well find success one day. You should remember that your desire to invest should also be in line with graphs and the results of your exact own research.It is crucial that you know how to plan your investment. Do you truly think that it is still wise to buy stocks when it was announced by the IMF that there is an imminent recession yet again? If you have the foresight of a millionaire, and you are expecting to hold shares for the next 2-3 decades; you will find time to buy shares as you want today.Knowing that the economy is actually improving every after slope, the value of shares will eventually be giving you massive returns. This is the kind of Millionaire anticipation that everyone needs. You get something when it is not yet dear, and you end up cashing in when it is effective also.If you are planning to take up any amount related to financial education, you should consider this as an exceptionally smart investment. One of the things taught in business schools is the process of generating means having only little capital. Can it be possible to imagine getting into a low risk high return performance? These things could make up your real own retirement savings!If you will argue that the richest man in the planet is a college drop out without a degree in business, you need to wake up on the reality that the wealth of the world today are still widely concentrated on (financially) educated individuals and families. In the US alone, 15% of the country’s economy is controlled by men and women from Ivy League business schools.A millionaire mindset is not born but honed through training. If you are going to look for ways on how to get rich, investing on your education is one of the best ways to do it. They say that the cost of education is alarmingly high. If you are determined to change your life, you will somehow learn new skills in order to become a millionaire.This just goes to show how millionaire mindset through formal business education is possible. With a curriculum that is proven effective, all you need to do is use the things you learned, and success will unfold before your eyes.