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Unformatted text preview: Interest Rates on Personal Loans (contd) Interest Rates on Personal Loans (contd) Simple interest: interest on a loan computed as a percentage of the existing loan amount (or principal) Size of payment depends on size of loan, interest rate and maturity The higher the interest rate, the higher the payment The longer the maturity, the lower the payment Car Loans Selecting the carthings to consider Personal preferences Price Condition Insurance Resale value Repair expenses Financing rate Revised car loan contracts Car Loans (contd) Negotiating the price Negotiating by phone may be beneficial Trade-in tactics can be misleading No-haggle dealers can save time and stress Information is valuableshop around Purchasing a car online is possible, but not yet a streamlined process...
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This note was uploaded on 02/22/2012 for the course FINANCE 250 taught by Professor Maryevans during the Spring '12 term at Rutgers.
- Spring '12