Money Rant

By Jackob Martin

 Even students without a steady job desire a car. It seemed an impossible task until car loans for students came into being for unemployed students. Financing institutions have understood the plight of many youngsters, and offer such loans. However, there is a catch. Typically these loans are secured loans. So, if the student fails to make payments at any point of time, the car will be repossessed by the lenders.

Car dealers and lenders may obligate the student to bring a cosigner. The cosigner is a security blanket for the loan providers. Car loan and student have a symbiotic relationship. The auto loan is secured by the vehicle itself. So, lenders can recoup the loan amount from the value of the car. On the other hand, the student has to remain current on the loan. In case of any indiscretion from the students side, the cosigner will be approached by the lenders. Cosigners can be parents, other family members, or even friends. And if they back out, the student loses the automobile.

There are several springs of car loan quote for students in the market. Banks, credit unions, lending institutions, and car dealers offer car loans to students, provided a reliable cosigner accompanies them. In any case it is advisable for students to shop around and check out all their options before picking a particular lender.

Two things to bear mind while looking for an auto loan:

1. Affordability: It is not just the loan payments, a list of other costs tag along with the car. Fuel, maintenance, insurance, and so on. So, students should carefully plan their budget. Purchase the car as a sound judgment and not under a whim.

2. Flexibility: Choose a lender that has the best car loan rates, yet offers some bending of repayment rules. For example, permission to make payments according to university course period.

Since most auto loans offered to students is without the basic requirements of steady income and good credit history, it is obvious that the new car loan rate will be higher. However, a cosigner with excellent credit rating can bring down the rates to some extent. Plus, arranging a larger down payment to cover a good portion of the principal slices the financing amount, and in turn reduces the interest burden.

Autodriver has the best team of experts to help you in your auto endeavors.

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How to Fund a Trading Account

By Barton Simmons

 Although many will suggest that you can trade with the minimum margin requirement we do not necessarily recommend it.

Let’s say that you are about to start trading an S&P 500 futures daytrading system. Let’s say that the exchange minimum margin requirement is $25,000 and the system drawdown is $25,000.

Let us further assume that you want to get started using the absolute minimum account size. Since we are talking about a daytrading system, many of you may be able to trade for half of the required margin or $12,500.

The lure of starting with the smallest amount of capital possible is obvious. We feel that we are getting more bang for our buck. If the system makes $100,000 profit by the end of the year we feel great because we made 800% on our initial investment of $12,500.

If we initially funded our account with $50,000 we would have made 200% on our initial investment of $50,000. Although we made the same amount of net profit we may feel better about using the smaller amount because the return on investment is greater.

In reality trading these two examples can look quite a bit different. If we fund an account with $12,500 and immediately go into a $10,000 drawdown we will not be able to trade the system any more until sufficient funds are added.

In many cases funds are not added and the trader is left with a loss in his account and the words in his mouth, “This system doesn’t work”. If we initially fund our account with, say, $50,000 we can withstand a $10,000 or even a $25,000 drawdown and still have sufficient funds in the account to trade another day.

Properly funding an account is similar to using stops. We use stops because we do not know if our next trade will be a winner or loser. We properly fund an account because we don’t know if a trading system will enter a drawdown period 2 days, 2 months, or 2 years from now. In both cases it makes sense to control our risk.

In some respects a trading system is similar to an automobile. It needs sufficient fuel in order to continue to move forward. If you knew exactly how much gas you needed to put in your car to make a typical 200 mile highway trip would you put only that much in? What happens to you if there is 10 miles of backed-up construction traffic and you find yourself inching along and burning more fuel than expected?

Properly funding your account puts you on the road to successful trading.

Good Trading and Good Life,

Tony Spann

SP Strategies

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