The top ten things you should consider when choosing a banking institution are: Security of your funds. Make sure that any bank or credit union is insured by the Federal Deposit Insurance Corporation (for banks) or the National Credit Union Association (for credit unions.)

Which statement below gives the best reason for Steven to consider loan availability in choosing a checking account? If he needs a home loan in the future, he will have a relationship with the bank.

Answer: The item that may not be a good consideration in selecting a bank is the word “FREE” is prominently displayed in the marketing pamphlet.

When making banking decisions, why should you be concerned about current interest rates? Current interest rates affect the amount of interest you would receive on deposits as well as the amount of interest you would pay on borrowing.

No interest for 12 months means that a credit card will not charge its regular APR on purchases – or balance transfers, depending on the card – for 1 year. In other words, you’ll pay all the interest you would have paid if you had carried the entire balance for 12 months without the deferred interest deal.

deferred interest plan

The answer is that it usually isn’t the bank doing the lending but rather the automaker itself. The way an automaker can make money with a zero percent deal is simple: It still earns the same amount it would earn on any car deal, but now the money is earned over a longer span.

Here, opting for 0% financing would result in a lower payment. While a shorter loan has a lower total cost, the payment ends up being $235/month more expensive. If your goal is to make a vehicle fit within your monthly budget, 84-month financing could be a compelling option.

With possible 0% financing, Toyota puts you in control of your car ownership. Get the car you’ve always wanted without a high APR rate.

For example, to get 0% financing, a regional offer on Toyota’s website requires “well qualified Tier 1 or Tier 1+ credit customers.” Toyota dealerships define Tier 1 as an auto-specific FICO score of 690-719 and Tier 1+ as 720 and above.

A 72-month car loan can make sense in some cases, but it typically only applies if you have good credit. When you have bad credit, a 72-month auto loan can sound appealing due to the lower monthly payment, but, in reality, you’re probably going to pay more than you bargained for.

If you’re shopping for a new Toyota, the end of year is one of the best times to get a great deal. Each dealership agrees to sell a number of cars by the end of the year. If they haven’t sold that number by late December, they’ll most certainly work with you. The one drawback to buying at the end of the year is choice.

You may be able to negotiate with the dealer to take it off the final price. Manufacturer incentives and rebates are used to stimulate sales. Incentives might include special pricing for first-time car buyers, price reductions on certain models, or options packages.

January

The months of October, November and December are the best time of year to buy a car. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals.

The 5 Biggest Car Sales Days for Buyers. January 1 – 8.5 percent. December 31 – 8.3 percent. July 31 – 8.1 percent….July 31 – 8.1 percent

• June: 7.8 percent.
• July: 8.1 percent.
• August: 7.9 percent.
• September: 7.9 percent.
• October: 7.9 percent.
• November: 7.7 percent.
• December: 8.3 percent.

TUESDAY

12 Tips for Negotiating With a Car Dealer

1. 1) Knowledge Is Power.
2. 2) Remember It Is a Business Transaction.
3. 3) Don’t Focus on the Payment.
4. 4) Know the Deals.
5. 5) Think About Financing Early.
6. 6) Separate the Trade-In.
7. 7) Negotiate the Price First.
8. 8) Timing Is Your Key to Savings.