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How to Bank On Yourself and Get Back the Interest You Pay to Lease or Finance Business Equipment (Page 1 of 3)
What if there was a simple way to bank on yourself and become your OWN source of financing for the business equipment you buy or lease?
You’d make the same profits that banks and leasing companies are now making on you!
Now what if I told you that, by financing things yourself, rather than through an outside lender, you could ALSO get back the ENTIRE cost of the vehicles, equipment, machinery, electronics and buildings you buy or lease for your business?
Impossible, you say?
Oh, but it’s not! In fact, over the last five years, I’ve gotten the last three cars I use for my business for free. PLUS I’ve put all the interest charges I previously paid to finance and leasing companies for cars into my OWN pocket, instead!
It’s not magic although it may seem like it is and it’s easier to do than you might think. What I’m about to reveal to you has (until now!) been a well-kept secret I stumbled on, working since 1990 as a consultant to financial advisors.
Let me show you the power of this strategy which almost any business owner or professional can use to turn the flow of money in your business and personal life from cash OUT to cash IN. I’ll use the cars (or trucks) you buy or lease for your business as an example
Let’s say you were to buy a new $25,000 car every 4 years from age 40-80 (10 cars total). To keep it simple, I’m not factoring in inflation or any trade-ins.
If you finance those 10 cars through a bank or car dealer, it will cost you $289,920, assuming a 7.5% interest rate. If you lease those cars, your cost will be $199,680.
And if you paid cash for the cars, your cost would be $250,000.
However, if you could bank on yourself and finance those 10 cars yourself, at the end of 40 years, you’d have $461,139 in your account! That means the difference between financing the cars through a bank, which would leave you $289,920 in the hole, and financing them yourself, the way I’m about to show you, which would leave you UP $461,139
is $751,059!
And, when you bank on yourself, instead of paying cash, you’d STILL come out $711,139 ahead! ($461,139 + $250,000 = $711,139)
Put another way, you have a choice: You can have the cars AND the money
or just the cars. Which would YOU rather have? (And this strategy can be used to get back the cost of ANY major purchase business or personal not just cars!)
Do you have any idea what financial strategy or vehicle will let you do this?
Well, it’s not a savings or money market account or CD. And it’s not an investment account or retirement plan or IRA. None of them will work, for a number of reasons.
You can accomplish this by using a specially-designed type of life insurance policy. Now please DON’T stop reading if the words “life insurance” turn you off, because this is NOT the kind of life insurance most people know about!
To be able to bank on yourself, instead of lining the pockets of an outside lender, you must use a policy that has been specifically designed to turn a traditional life insurance policy upside down by going for MAXIMUM cash accumulation, while minimizing the death benefit.
Home Loan Facts for First-Time Buyers
Being a first-time buyer who is looking for their first home is a nerve shredding time. There are so many different questions to ask and so many different home loans on the market that it can be dizzying to think about it. Maybe you are a first-time buyer who would like to know more about obtaining a home loan. If this sounds like you here are some home loan facts which are dedicated to first-time buyers.
To begin with it makes sound financial sense to speak to a professional about obtaining a home loan. Mortgage brokers are probably the best people to turn to at this time as they are not associated with any lenders. This means that the advice you receive from them will be impartial and not biased towards any particular home loans. With this in mind you can rest assured that you will be getting the very best advice.
All applicants for home loans will need to provide all of their financial information before an amount in principle can be decided on by a loan company. This helps first-time buyers to understand how much money they could afford to borrow for their new home. Without this information searching for the right home loan is pointless as there will be no ballpark figure to work with.
It pays to know what your credit score is before you start looking for home loans. If you have a good credit score you will know that you will be more likely to be accepted for a loan to buy a home. If your credit score is not too good you will find that the product is available to you come with a high rate of interest, but this does not necessarily mean you will not be able to secure a loan to buy a home.
You need to be prepared for the whole process could take some time. Some people are lucky and manage to secure a home loan and move into their new property within a matter of a couple of months, others are not so lucky. So do not feel downhearted if your search for the right loan takes some time, you will get there in the end.
You also need to be aware that not all home loan companies are the same as each other. Some will cater for people with bad credit, whereas others will only deal with people of a certain age. Searching the market helps to make this a lot more straightforward and using a mortgage broker can help you even further.
Remember it is totally free to get quotes on a home loan, so do not be afraid to ask for as many quotes as you would like. Taking out a loan in order to buy a home is a huge step and all first-time buyers need to feel positive about the loan that they are applying for, otherwise they may back out at the last minute and lose their dream property