How Can I Sign Montana Banking Form

How can i industry sign banking montana form easy

so I was watching a video that was made by Motoman a little bit earlier and it has to do basically with depreciation causing people to question the value of their cars and basically what he was talking about was the fact that people are financing cars for longer and longer terms and because they're doing that they are ending up in car loans that are quickly depreciating what not the part of the problem is that the vast majority of people do not understand how to calculate loans and they don't think about loans in the way the banks think about it a lot of people don't understand that that well a lot of people do not have experience with loans but because I sell houses and work with mortgages I understand it and I've made this type of video before but now I'm going to make it again and I'm going to you know give you a little tip or whatever about how you can calculate your own loans and this works for not only car loans but for student loans and for how home loans whatever you got it pretty much works for just about any loan now there are some things you could add add or take out but for the most part what you're going to want to do get yourself a loan calculator now I have been using loan you later for years I love this loan calculator you should be able to get it on the App Store as you know I only use pretty much Apple products because you know Android products are for children but on loan you later I'm going to leave the link inside the URL section of this video on YouTube and basically for people who don't understand how to use a loan calculator I mean you know do my best to show you how it works so this way you too can calculate your own loans it doesn't matter what you have a student loan a credit card a car loan whatever so anyway you download a loan you later into your iOS device I can't speak for Android because I really don't know so let me just make everything 0 so we can start fresh ok because the last time I was using it I was trying to explain to people how they could lease a hellcat or why it made more sense to Lisa to find us so the first thing I'm going to say is that you should always lease German by Japanese now some people don't believe in leasing and the reason why is because they like oh yeah you never own anything and everyone else and it's like well here's the thing I'm certain people have excellent credit and they don't need a car for a very long time some people may only need a car for one two maybe three years and maybe they want to get something new rich people rich people reach their cars that's the reason why you always see them in a brand new Mercedes and or brand-new BMW or Audi they lease their cars and the reason why is because as beautiful as they look and as well as they take turns and all that as soon as you get past the warranty period it becomes so ridiculously expensive to repair those things and to maintain those things that nobody wants to keep them so basically they drive around in it for like you know three years or whatever and then they hand it right back no questions asked and that's it so they may at least one of these shitty BMW 3-series or something like that and they'll only pay about what maybe 400 $4.99 a month or whatever and as soon as that piece of starts breaking down Haidee let's take this piece of back and that's it and that's it so it makes sense for them to lease these expensive cars and the reason why again is because it costs so much to maintain them so anyway no matter what kind of loan you're working with you're usually going to be dealing with four factors a loan amount a term interest rate monthly payments here's the mistake the mistake that most people make is when they go and looking for a car they're worried about the monthly payments they're not worried about the interest rate uhm Motoman was reading some statistics none of them I even bothered to remember but one of the key points was that younger people don't pay attention to interest rates that's because the vast majority of them have been so ruined by communist court mathematics in these public schools that most of them can't even really count to ten without taking off the shoes so let's assume they don't understand interest rate well basically the lower your interest rate the better the loan is how do you get a lower interest rate well first of all you have to have excellent credit I have over 800 as a low score my credit is excellent I can lease anything I can pretty much buy anything I want when it comes to home loans I'm even better now a lot of people they've got student loans so they can't easily do that so what I'm saying is you have to have excellent credit which means don't screw up your credit you know buying those shitty Android phones from Sprint or whatever but what you gotta do is you gotta take good care of credit so this way you can qualify for low low low interest rates lower your interest rate the better the loan is and I'm going to talk about reason why in a minute so the mistake that most people make is they try to buy based on monthly payments so let's say let's say for instance I really need a car real bad let's say that I'm buying a car for $30,000 so that's 30,000 so I put in my thirty thousand one month number of months now this is interesting so I'm going to do this in two ways I'm going to say number of months let's say that my number of months for $30,000 loan let's say it's a three years let's say it's thirty six months three three is thirty six months and let's say my interest rate is 30% let's say I have excellent credit I qualify for three percent monthly payments on that $30,000 car it's going to be eight hundred and seventy two dollars total interest paid at the end of that term will be 14:07 so that means that you borrowed $30,000 but on top of that $30,000 you're going to pay these people $1,400 for allowing you to borrow the $30,000 and then on top of that your total amount that you paid back will be thirty one thousand four hundred and seven or at least that's what it's expected to be now the reason why I like loan you later is because they also have an amortization system which allows you to see exactly how much this loan is costing you on a month-to-month basis so basically if I'm more like you know I want to say okay by the 28th months how much will I have spent well it says my principle amount or the principle payment is eight hundred and fifty three dollars and the total loan remaining six thousand nine hundred $1 and by that time I have paid them 13:29 so that's how this works it's a very simple straightforward calculator and it's such a beautiful calculator I tried to use other calculators online and I hate them because they're very complicated I don't like the way they look I like it nice and simple this beautiful I've been using this since I got my iPhone I pretty much love it by the 36-month it'll be eight hundred and seventy bucks that you pay for your last payment you'll the interest payment on that eight hundred and seventy would only be too old eighteen cents by that time you have paid them 1407 in interest and the zero dollars left in your loan see you see how simple it is is just those things principle payment interest payment loan remaining total interest it's very simple so anyway this is the loan amount if it was a thirty thousand dollar car and I'm paying eight hundred seventy two a month not obviously that's not going to happen because you go to Toyota you go to Honda one of those shitty Accords they're not going to give you a 36-month loan what they're going to do is they're going to say well we're going to give you this thing for seventy four months or seventy two months now your monthly payments are only for forty four so your monthly payments decrease to 444 and because you're a young kid you've got student loans and you know all this stuff you're worrying about your monthly payments so now the interest total you paid has gone to two thousand eight hundred ninety seven dollars so by the end of your loan you have paid them thirty two eight nine seven most people really don't care how much the loan will cost them as long as they're able to get what they want and that's the biggest problem when you're talking about depreciation unless you're really looking at a calculator it's hard for people to understand that these cars are depreciating assets and they depreciate to the point where you can't we sell them so first of all for some people you you know as I said you'll East German you buy Japanese if you buy one of these crap accords itself you probably don't keep that piece of for about ten years some of you keep it for 20 years and some of you pass down to your kids you keep that piece of garbage all that time so as long as it keeps running you really don't tear as long as it keeps running by that time there's almost zero value left in it after that ten years but you don't care because you're just keeping it anyway now as far as people who do care what you're talking about is somebody who buys a car keeps it for a couple of years and then wants to trade it in for something else they want to have residual value which is the reason why the higher your interest rate is the worst that loan is for you because if you think about it let's say about thirty thousand dollar car that loses I don't know half its value if that's the case well then now you know three years and it's only worth fifteen thousand well obviously I can't easily trade it for parody on another thirty thousand dollar car the other problem is your interest rate let's say you have shitty credit because you were too busy buying off the Amazon you had no intention of paying for and now you're in default with Discover Card so anyway let's say your interest rate is a 6% so with this same loan now your monthly payments have jump two 486 which is not too bad but over that time period you've paid them five thousand nine hundred and sixty-five dollars so you paid them thirty five thousand one hundred sixty one total so you see how pretty much how this system works it's a very very simple calculator I love it it's absolutely fabulous and that's just how it works it's a very easiest thing to use so you can use this to calculate just about anyone let's say if you want to buy a house let's say if you buy a house let's so let's say it's $300,000 and let's say your number of months 30-year fixed more just three hundred and sixty months your interest rate let's say interest rate let's say you have fabulous credit the interest rate is of 4% monthly payments 1432 so that's your mortgage - obviously the taxes are not accident to that because I didn't do that but your bass more than just 1432 soon by the end of the time that you pay back the bank your mortgage will have cost you a total $515,000 so from $300,000 and we're just talking about the mortgage not the escrow taxes it will cost you five hundred fifteen thousand dollars to buy a house now let's say you have shitty credit because you were too busy ordering stuff that you know is best buy it and you didn't pay the bills on time that's what I talked to you credit let's say instead of a four percent let's say you got a six percent well now your monthly pages jump to 17 9 8 and by the end of the time you finish paying for that house six hundred forty seven thousand dollars you see voila that's how it works and the banks now this is the problem this is what the banks do let's say I wanted to come by that save $30,000 car and let's say that they were going to offer me a seventy four month and let's say my interest rate was a three point three percent now let's say my monthly payments are 448 right and here's the problem what happens when somebody says ah that's too high I can't afford that again exploit that I got babies to feed I get baby so what do they do okay let me work something out so this is what these best is do sons of this is what they do they take that seventy four months they stretch it out to eighty six months now your monthly pay us three ninety - oh that's pretty good wow that's dead that's again I can afford that that's $40 cheaper I can use the other forty dollars to buy crystal meth so now look at that thirty-three thousand seven hundred twenty eight dollars so you're paying about three thousand seven hundred twenty-eight so what they've done was they shifted the upfront cost to the back of your loan so over all that time you're like wait a minute I can't this loan has taken me freaking seven or eight years to pay off now guess what some of these banks like Santander and some of these subprime banks for people were really bad credit what they will do is they'll put you in a hundred forty four month low a hundred and forty four months or as I like to call it 12 years of suede monthly payments drop to 252 but now you've paid them $36,000 if you ever finished paying off that card because if you had to get 144 month payment in the first place most likely you were dead meat probably paying off that child support so anyway thirty six thousand three hundred and seventy one dollars that's how much it's going to cost you would you believe that now imagine this like a like you know maybe there's some Bank up there that's stupid enough to sell me a Lamborghini Aventador and they stretch that payment out to 144 months and give me a less set let's say like a 3% no the fat that let's give me a one point cuz I got excellent credit one point nine no no I can't do it negative this is not Europe so let's say they give me a one point nine percent interest rate monthly payments four thousand six hundred sixty two goddamn well maybe if they stretch it out to five hundred bumps I could maybe I can afford it nope okay so maybe if they stretch it out to a thousand months no ten thousand bucks they're totally not the above I could afford eleven beginning for the price of my Jeep but uh you know I'll be dead long before I pay it off so basically that's how the loan calculator works if you've got student loans works the exact same way let's say you went to one of these shitty liberal arts schools and got some useless liberal arts degree that you'll never be able to get a job in and right now after having spent about what forty thousand per semester let's say you're in a hundred and five thousand dollars worth of debt so let's see they give you all don't give you pretty much to the rest of your natural life to pay it off so he's gonna be paid off for quite some time so let's say that the government refined that for I don't know five percent and your monthly payments let's say that monthly payments about a thousand you can work backwards because you only need three out of before the number of months gonna take you is one hundred and thirty eight months to pay it off at $1,000 a month it'll take you a hundred thirty eight months that's not twelve years but it's about it's like eleven or something you say so it's a very simple process this is how it works and you can all you need is any three out of the four values to get the fourth value as you can see it's a very straightforward beautiful process I love it and that's basically it so these people who are asking about like health care oh wow I want a health care event well first of all unless you've got a lot of money coming in that's not the carpet I'm just going to tell you in front so what they've been doing is they've been leasing these things and it kind of almost doesn't make sense because the problem is these cars are like let's say these quarters are seventy thousand dollars right but they really come out to about seventy five once you factor in taxes and the number of months what they do is they'll take you to some shitty credit union and they'll stretch it out to say eighty six eighty or something like that right so let's say they charge you a three percent monthly payments are nine seventy about so it's going to be about thousand dollars on the Jeep SRT is a little bit more the do you pass RT they don't have deals on so let's say that thing is about eighty thousand dollars now the monthly payments about a thousand thirty four that's where I am mine is about a thousand thirty flat so that's pretty much how it works and this doesn't factor in other things like taxes insurance it doesn't factor in any of that but I urge everybody who has an iPhone or an iPad to buy this saw alone cannot buy it because it's actually free if you could still get off App Store but I have it on everything in my iCloud I love this one calculator is fabulous I absolutely love it so basically Motoman he did a great job talking about why you shouldn't buy a Hyundai G 90 because you know basically it's a quickly depreciating asset but if you really wanted one the best thing you do is lease it so this way you won't really get stuck with the negative equity at the end of the loan because when that Hyundai gets boring and then they make like something else in the estate I don't think I want this I want to get like a Hyundai G 100 or something like that and wink is boring and you want to leave them problem is now your car is not worth what you paid for it so you're like you know I really wish I'd never bought this in the first place and you know it's a good car and everything but my point is you got to buy one of these high-tech cars with the technology and the styling changes rapidly the best thing you can do is Lisa if you're buying like a Ford f-150 or something specifically because you need it to work if you need it like you know for doing manual labor like a truck best thing to do is finances because it's a long-term keeper a long-term keeper you kind of don't really worry so much about what the value of training is because by the end of the term after you put like two hundred thousand miles on it's not going to be worth anything anyways it's going to be worth maybe a couple hundred dollars and if you're dealing with one of these already pre used cars the best thing you could do is steer clear from a used car because the value has already decreased for you it makes sense because you want to buy a used German car so you can look cool for your friends but um the reality of the situation is the maintenance on that thing is going to be will kick your ass so even if they even if you're only paying like 100 and 200 all in a month you know when you have to start you know buying transmissions and like that you know your little monthly savings isn't really going to make much difference at that point so this is then another episode of big truck series xrt news in 4k