Describe some techniques that car salespeople might use in negotiating the price of the car. What should you be aware of at “no-haggle” dealerships?
Answer to relevant QuestionsWhat should be the first step in financing a purchase of a car? Aside from the interest rate, what two factors will have the largest impact on the size of your monthly payment? How are interest rates calculated for home equity loans? Why do borrowers prefer home equity loans to other loans? What are your responsibilities if you cosign a loan? What are the potential con-sequences of failing to live up to your responsibilities as a cosigner? Refer to question 5. If Sharon had been able to afford the four- year loan, how much interest would she have saved compared to the five- year loan? In Question 5 After making the down payment, she will finance $ 15,500. ...What are closing costs? List and briefly describe the different closing costs you might incur when applying for a mortgage.
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