Extended Loan Terms = Stupid? Learn Why.}

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Submitted by: Jeffery Reynolds

Extended-term loans are stupid not just for us, but for the industry.

– John Mendel, Hondas U.S. sales chief

at the 2015 North American International Auto Show

Mr. Mendel elaborated that competitors are doing stupid things to increase sales and it includes seven-year long loan terms. He said that automakers are selling more vehicles by offering 84-month loans that decrease monthly payments and make it difficult to repay the loan faster. He added, Youre ringing the bell on a new-car sale, but that customer is saddled theyre stretched so thin.

John Mendels interview has highlighted a very important aspect of the current auto financing world. Several auto financing companies are offering extended loan terms to increase their sales. They are attracting customers by emphasizing on lower monthly payments but deliberately ignoring the high interest rate part of the deal.

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What is the Reality of Extended Loan Terms?

Extended loan terms or longer loan terms are attractive because they allow you to buy an expensive car while making smaller payments. But, before you opt for such a loan program, it is important to understand its reality.

The upside down loan situation

Upside down car loan means that you owe more to the lender than the cars actual worth. It is a very dangerous situation because if your car is written off in an accident, you will still have to pay the loan amount. It means you will have to pay money for a car that you no longer drive.

If you opt for a longer loan term and smaller monthly payments, you will end up with an upside down car loan. It is because lenders will direct monthly payments towards the interest and will not reduce the principal amount.

The negative equity situation

When you buy a car, its value depreciates quickly in the first few years. And, if you opt for extended loan terms, you make smaller payments. It means the outstanding loan balance doesnt reduce quickly. It creates a situation of negative equity. Remember that it is harder to trade-in a car with negative equity because it doesnt have the power to reduce the new assets cost.

The higher interest payments situation

SCENARIO -1 – Suppose your loan amount is $20,000. If the interest rate is 5% and the loan term is seven years, then you will pay $3,744.97 in interest.

SCENARIO -2 – Now, lets assume that your loan amount and the interest rate is same as Scenario-1. If the loan term is reduced to four years, you will end up paying $2,108.12 in interest. So, it is advisable to opt for a shorter loan term and save money in the long term.

Now that you have understood the reality of extended loan terms, it is advisable to you stay away from it. Remember that it is always the bigger picture that matters.

Car Destination the bad credit auto loan expert is a familiar name among car buyers. The company provides instant car loans to help you complete your loan process quickly. Apply now and obtain your low rate bad credit auto loan quote today.

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Toyota recalls up to 1.8 million automobiles

Saturday, January 30, 2010

The automobile manufacturer Toyota has said that it will recall up to 1.8 million cars across Europe, after a problem with the accelerator pedal was discovered.

According to the firm, eight models were affected by the problem — AYGO, iQ, Yaris, Auris, Corolla, Verso, Avensis, and RAV4 — after it was discovered that the accelerator may become stuck in a depressed position, resulting in uncontrollable speeding.

On Thursday, Toyota said it would recall 1.1 million cars in the US; a day previous, it had suspended eight models from sales. Last week, 2.3 million cars in the US were recalled due to the pedal issues.

The chief executive of Toyota Motor Europe commented on the recall. “We understand that the current situation is creating concerns and we deeply regret it,” said Tadashi Arashima. The firm, however, noted that it wasn’t aware of any accidents resulted by the malfunctioning accelerator pedals, and not many pedal problem incidents were reported in Europe. “The potential accelerator pedal issue only occurs in very rare circumstances,” Arashima added.

The National Automobile Dealers Association, meanwhile, commented that Toyota showrooms could lose as much as US$2.47 billion worth of revenue due to the incident.

“Toyota veterans will likely hear the news with disbelief and keep faith in the brand, but new customers could definitely be scared off,” remarked Robert Rademacher, who is the president of the trade group ZDK, as quoted by Business Week. “This recall has a dimension which we’ve never seen before.”

There are concerns that the problem may result in reduced consumer trust in Toyota. Hans-Peter Wodniok, an analyst for Fairesearch GmbH & Co. in Germany, noted: “If this is a one-time event, huge as it is, Toyota may be forgiven. But if something happens again in the next months and years, they will have gambled away customer trust in Europe as well.”

Analysts for Morgan Stanley, however, said they believed Toyota would not suffer much from the incident. “The company’s actions to correct the situation are timely enough to avoid major brand damage,” they remarked in a note to investors.



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Ozzy Osbourne’s personal possessions fetch $800,000 for charity

Sunday, December 2, 2007

American heavy metal performer Ozzy Osbourne, who became famous as the lead vocalist for Black Sabbath and later as a solo act, has raised more than US$800,000 for The Sharon Osbourne Colon Cancer Program, founded by his spouse Sharon Osbourne at the Cedars Sinai Hospital, by auctioning off personal items.

A number of the items that he auctioned off over the two day period have been seen on his reality TV show The Osbournes, which featured home life with Sharon, Ozzy and their two children. Amongst some of the higher-priced items were a carved walnut Victorian-style custom built pool table which raised $11,250, a painting from Edourad Drouot which fetched $10,500, a pair of Ozzy’s famous round glasses which raised $5,250 and a dog bed given to Sharon by Elton John which sold for $2,375.

Some more famous items were also amongst the 500 lots offered. Ozzy’s black satin coat, complete with bat-wing cape, raised $3,300 and a hand-painted floral cup used regularly on The Osbournes made $1,625. A bronze plaque of a demon’s head that was regularly seen in its position adorning the front door of their house had been expected to go for $800 to $1,200instead raised $8,750. A wire model of the Eiffel Tower from on the kitchen table sold for $10,000, while skull-covered trainers Ozzy had worn reached $2,625. Bidders came from as far away as Germany to buy what they could from his mansion in Beverly Hills, California.

However, three cars included in the auction failed to attract bidders and did not sell. They were a 2006 Bentley Continental Flying Spur, estimated at $160,000 to $180,000, a 2005 Cadillac CTS-V sedan estimated at $30,000 to $40,000 and a 1950 Oldsmobile Futuramic 88 Club Coupe previously owned by author Danielle Steel estimated at $40,000 to $50,000. Sharon had earlier said of the cars “We’re not great car people. They really don’t do a lot for us.

Darren Julien, president of Julien’s Auctions, which organised the two-day sale, said “It did very well. It raised some good money for a very worthy cause.”

“For a celebrity garage sale, it was pretty spectacular.,” he went on. He also commented on the fact that there was fierce competition for the many artworks included. “We had Ozzy fans bidding against these sophisticated fine art buyers, which you don’t see every day. For the most part the metalheads were outbidding the art crowd.”



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Daimler acquires stake in winning team Brawn GP, changes its name to Mercedes Grand Prix

Thursday, November 19, 2009

On Monday Daimler AG announced a deal to buy a 75.1% stake in Brawn GP.

As a result, the team who won both the 2009 Drivers’ and Constructors’ championships this year with Mercedes-engined cars, would be rebranded as Mercedes Grand Prix from 2010 Formula One Season onwards. The team could possibly use its legendary ‘Silver Arrows’ livery again since a crash at Le Mans in 1955, ending Mercedes’ 55 year absence in the sport as a sole team.

Daimler purchase went in partnership with Aabar Investments, who now own 30% of the shares. The rest of the shares will stay for Ross Brawn, who will remain as team principal, and Nick Fry.

The team still will be headquartered in Brackley (United Kingdom) which is close to Mercedes F1 engine plant at Brixworth, led by Norbert Haug, Vice-President of Mercedes-Benz Motorsport.

Mercedes will also continue to supply McLaren with engines until at least 2015, but sell its 40% stake in two years.

Mercedes is now up to decide their drivers for the next season as Rubens Barrichello already signed a contract with Williams and Jenson Button could run for McLaren together with Lewis Hamilton.



About Life Time Cookware

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By James Brown

Life Time Cookware only requires a medium heat on stove top cooking. When cooking with a medium heat or low heat you are sure to get perfect results in preparing your favorite meals.

Have you ever heard of baking on top of the stove top? Well, there is news for you. LifeTime offers you the chances to save on energy by avoiding oven cooking. Baking on the stove top is now available through Life Time Cookware.

Stack Cooking saves energy.Cookware has a twelve element solar cap. This feature allows the heat to travel evenly up the sides very quickly and through the covers of each stack cooking utensil. You will adore using stack cooking . It allows the cooking of several foods at the same time. The utensils simply stack on top of each other and your meal is on the way to being cooked.

Avoid using every burner on your stove top. Simply stack your meal. Your foods will be healthier for your entire family . Vitamins and minerals are retained in the food provided by the moisture being withheld . Save on money and get more nutrition.

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A life time warranty is provided with this cookware. Once you purchase this Cookware , you will never have to purchase cookware again.

Storage is kept to a minimum . Even the smallest kitchen can handle this cookware. It is very easily stacked and very easy to store when not using. Life Time Cookware needs very little storing room.

Cleaning is very easily cleaned.

With Life Time Cookware the nutrition in your vegetables will remain high in value. Peelings can remain on your vegetables. This is great in preparing your meal and preventing you from having to stay in the kitchen long at any time.

There is no need to worry about scratching the inside surface with medal utensils. They are very safe to use in your Life Time Cook ware. Remember , this is the best stainless steel cookware available .

Don’t worry about replacement cookware. The life time warranty speaks for itself . Your family and friends will be astonished by the performance of your cookware. They will want to invest in their own Life Time Cookware.

Never worry about the outcome of your meal again. Your investment in Life Time Cookware will never let you down or disappoint you. Prepare your meals with pride. It’s great to know that you have made your life in the kitchen a lot easier. Your family will enjoy the extra time you can spend out of the kitchen.

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Jury convicts Murdoch of outback murder

Wednesday, December 14, 2005 A jury has delivered a unanimous guilty verdict in the Darwin trial of the man charged with the murder of missing British backpacker Peter Falconio.

It took the jury more than eight hours to reach a verdict. 47-year-old Broome mechanic, Bradley John Murdoch, has also been found guilty of the assault and deprivation of liberty of Mr Falconio’s girlfriend Joanne Lees. Mr Falconio’s body has never been found.

Murdoch flagged down Mr Falconio and Ms Lees on a remote Central Australian highway in July 14, 2001. He then shot Mr Falconio and bound Ms Lees with cable ties and threatened her with a gun.

Telling jurors that he “entirely agreed” with their verdict, Chief Justice Brian Martin sentenced Murdoch to a mandatory life sentence. Murdoch’s defence lawyer, Grant Algie, indicated an appeal would be lodged against the conviction. “Obviously we are disappointed with the result,” he said.

Outside court, Ms Lees said she hoped Murdoch would tell her and Falconio’s family the location of her partner’s body. “Today marks an intense period of distress for myself and the Falconio family. This will enable us to take another step (forward),” she said.

The eight-week trial heard from 85 witnesses and had more than 300 exhibits tendered. The court heard that Mr Falconio and Ms Lees were travelling around Australia when they were flagged down by Murdoch. Murdoch told them he saw sparks coming out of the exhaust of the couple’s orange Kombi van and took Mr Falconio to the back of the vehicle to show him. Ms Lees heard a gunshot before Murdoch bound her hands with a pair of cable ties. She managed to escape the van, and hid in bushes for hours until she flagged down a road train.

DNA matching Murdoch’s was found on the T-shirt Ms Lees was wearing when she was found. The court heard it was 150 quadrillion times more likely to match the DNA of Murdoch than any other person in the Northern Territory. Matching DNA was also found on the gear stick of the van and inside the cable ties.

In his defence, Murdoch claimed he had nothing to do with the crime. He admitted to the fact he was a drug-runner, detailing numerous trips across Australia. His former drug-running partner also gave evidence, saying he believed Murdoch was filmed at a truckstop after Mr Falconio was murdered.

Murdoch has been in prison since August 2002. He was arrested in Port Augusta over the abduction and rape of two women in South Australia. He was acquitted of those charges, but immediately arrested over the Falconio case.



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In a Show of Force Mexican Federal Forces Remove Oaxacan Protesters from Oaxaca City centre

Tuesday, October 31, 2006

After five months of tense protests in the Oaxacan state capital, Oaxaca City, in Southern Mexico, Mexican president, Vicente Fox, ordered Federal forces to remove protesters and striking teachers from the city centre. On Sunday, Mexican police forces clothed in riot gear, armed with tear gas and assault rifles, and backed up by armoured vehicles took up positions on the edge of the city to begin their march into the city centre.

A male protester manning one barricade was killed as federal police stormed the city, Police did not immediately confirm that.

But it is still uncertain whether more than one million schoolchildren would return to classes Monday in the embattled city where riot police and burned-out vehicles still line the streets.

Oaxaca suffers from a stand-off between the state government of Oaxaca and the People’s Popular Assembly of Oaxaca (APPO), a consortium of groups including teachers, farmers, and other workers. The impetus for federal involvement in Oaxaca appears to stem from the murder of four protesters and wounding of at least one other by state-sanctioned paramilitaries on Friday the 28th. Also potentially contributing to federal interdiction could be a desire, formed following the protests in Mexico City after the country’s recent elections, to forge stronger ties between Vicente Fox’s National Action Party (PAN) and the Institutional Revolutionary Party (PRI).

The protests began in May as a teacher’s strike. Police and state forces – often in plain-clothes – have shot at protesters, setting off clashes in which at least eight people have died.

It is still too early to tell when federal police will withdraw from Oaxaca City. Protesters have decided to abandon the centre and regroup at a local university. The protesters accuse Ruiz of corruption and rigging elections. Daniel Reyes a teacher, told reporters “We are going to leave this area . . . while we regroup and look at strategies to recover this area,” leaving open the possibility of continued protests, extended federal occupation, and ongoing violence.



Indispensible Backhoe Equipment}

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Submitted by: Steph Winston

You must have seen a backhoe, but may not know that it is called a backhoe. Whenever a building is being made or roads are dug it is used to lift chunks of earth. It is actually a machine used for excavating. It is a device which is attached to the rear side of the tractor. It lifts heavy stuff like earth or any other heavy load.

It is very expensive and if you have a one time need for it then instead of buying it you can take it on rent. It has got its name because the scooper type bucket that is placed at the rear side of the tractor. It performs the work that a bulldozer does. The device is mounted on a tractor. The biggest advantage is that it can be taken directly to different areas, whereas other machines have to be towed into the work area. Hence these other machines need outside power sources.

It needs a lot of operators skill to operate it. An inexperienced operator will not be able to use it,

backhoesandcats.info

lists requirements. The design of the backhoe is like a human hand/arm is extending to scoop something or to keep something. Thus, to operate it you need a lot of skill and expertise.

Nowadays backhoes are run on hydraulic method. They are like buckets attached to the rear of the tractor and it is a device which is attached the rear side of the tractor. It lifts heavy stuff like earth or any other heavy load. There are three parts of it and it is the first part of the machine.

The second part is called a loader. It is in the front side of the tractor. A big rectangular shaped (most of the time) device which scoops material etc. It is not supposed to be used for digging. It can be replaced with devices to get a street sweeper and if required even a pallet fork.

The main part of a backhoe is the tractor. It is the main machine. There is seat and the person operating it can move 360 degrees so that he may reach all the controls. There are different sets of control for the backhoe and another set of controls for the loader. It can move over rough areas and has rugged tires and an engine which is run on diesel.

Hence, all these three parts, the backhoe and the tractor and the loader do the job together. They all have different functions and work together in getting the task accomplished. Backhoes can be taken anywhere in a construction site some of them are so designed that the front and the rear parts can be interchanged with other instruments like a hydraulic hammer or an auger or may be a grapple even an asphalt grinder.

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Wikinews interviews John Wolfe, Democratic Party presidential challenger to Barack Obama

Sunday, May 20, 2012

U.S. Democratic Party presidential candidate John Wolfe, Jr. of Tennessee took some time to answer a few questions from Wikinews reporter William S. Saturn.

Wolfe, an attorney based out of Chattanooga, announced his intentions last year to challenge President Barack Obama in the Democratic Party presidential primaries. So far, he has appeared on the primary ballots in New Hampshire, Missouri, and Louisiana. In Louisiana, he had his strongest showing, winning 12 percent overall with over 15 percent in some congressional districts, qualifying him for Democratic National Convention delegates. However, because certain paperwork had not been filed, the party stripped Wolfe of the delegates. Wolfe says he will sue the party to receive them.

Wolfe will compete for additional delegates at the May 22 Arkansas primary and the May 29 Texas primary. He is the only challenger to Obama in Arkansas, where a May 10 Hendrix College poll of Democrats shows him with 38 percent support, just short of the 45 percent for Obama. Such an outing would top the margin of Texas prison inmate Keith Russell Judd, who finished 18 percent behind Obama with 41 percent in the West Virginia Democratic primary; the strongest showing yet against the incumbent president. Despite these prospects, the Democratic Party of Arkansas has already announced that if Wolfe wins any delegates in their primary, again, due to paperwork, the delegates will not be awarded. Wolfe will appear on the Texas ballot alongside Obama, activist Bob Ely, and historian Darcy Richardson, who ended his campaign last month.

Wolfe has previously run for U.S. Congress as the Democratic Party’s nominee. On his campaign website, he cites the influence “of the Pentagon, Wall Street, and corporations” on the Obama administration as a reason for his challenge, believing these negatively affect “loyal Americans, taxpayers and small businesses.” Wolfe calls for the usage of anti-trust laws to break up large banks, higher taxes on Wall Street, the creation of an “alternative federal reserve” to assist community banks, and the implementation of a single-payer health care system.

With Wikinews, Wolfe discusses his campaign, the presidency of Barack Obama, corporations, energy, the federal budget, immigration, and the nuclear situation in Iran among other issues.

Contents

  • 1 Campaign
  • 2 Challenging the incumbent
  • 3 Policy
  • 4 Related news
  • 5 Sources


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Flooding in Slovenia leaves six dead

Thursday, September 20, 2007

Six people are confirmed dead after Tuesday’s heavy rains in Slovenia. Up to 300 mm of rain fell in just a few hours across the country, with swollen rivers, torrential streams and landslides sweeping away cars, houses, bridges, and whole sections of roads. In some areas, public services have not yet been restored, and healthcare and drinking water are being provided by mobile units. Some major roads are still closed. The damage includes the destruction of the resistance Hospital Franja, a museum site from the Second World war.

Worst hit was the valley town of Železniki, where three people died, 350 houses were flooded and over a hundred cars were swept away by the swollen river Sora. The dead included a woman who was swept away by the river in her car. The local health facilities and the elementary school are closed. Road communication to several surrounding villages was cut off by landslides. The flood also badly damaged local industry. The lower-lying town of Škofja Loka was also badly hit by the flood. A 31-year-old volunteer fire fighter was killed during the rescue effort in Cerklje.

Other badly affected areas include those along the rivers Sava, Savinja and Dravinja. All three rivers and many of their tributaries overflowed and flooded fields and towns. The low-lying parts of Celje, Laško and Nazarje were flooded by up to 2 meters of water. A 34-year-old man and a 24-year-old woman were killed in Podgorje near Braslov?e when their house was buried in a landslide. Two older people managed to leave the house unharmed.

Damage was widespread across the country and many roads were blocked by landslides. Velenje was cut off from the world for more than a day. The main road connecting the mountainous Bohinj valley to the central part of the country was closed, leaving only the mountain road to Tolmin.

Near the town of Cerkno, which was itself flooded, the museum site of Hospital Franja was nearly completely destroyed. The partisan resistance hospital from the Second World War, situated in a narrow mountain canyon above the town and named after the young doctor who worked at the site, treated hundreds of wounded resistance fighters and remained undiscovered by the Wehrmacht throughout the war. The hospital consisted of 12 wooden cabins and a miniature hydroelectric power plant. The power plant and all but one of the wooden cabins and were swept away by the swollen stream. Hundreds of exhibits, including medicine containers, locally produced medical equipment and an x-ray machine were lost or badly damaged.

The government of Slovenia directed €500,000 from the emergency fund to immediate rescue and repair operations, and has promised to help the affected municipalities and population with funds from the budget. The government has also pledged to rebuild the Hospital Franja museum site.

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