Download
consumer loans n.
Skip this Video
Loading SlideShow in 5 Seconds..
CONSUMER LOANS PowerPoint Presentation
Download Presentation
CONSUMER LOANS

CONSUMER LOANS

170 Views Download Presentation
Download Presentation

CONSUMER LOANS

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. CONSUMER LOANS PERSONAL FINANCIAL PLANNING DR. AA NEIDERMEYER

  2. TYPES OF LOANS • AUTO • DURABLE GOODS • EDUCATION • PERSONAL • CONSOLIDATION

  3. EDUCATION LOANS • STAFFORD • PERKINS • SUPPLEMENTAL • PARENT • WWW.FASTWEB.COM

  4. SOURCES OF CONSUMER LOANS • COMMERCIAL BANKS • CONSUMER FINANCE COMPANIES • CREDIT UNIONS • SAVINGS AND LOAN ASSOCIATIONS • SALES FINANCE COMPANY • LIFE INSURANCE COMPANIES • FRIENDS AND RELATIVES

  5. MANAGING YOUR CREDIT • FINANCE CHARGES • LOAN MATURITY • TRANSACTION COSTS • COLLATERAL • TIMING OF PAYMENTS

  6. FINANCE CHARGE OPTIONS • SIMPLE INTEREST METHOD • DISCOUNT METHOD

  7. INSTALLMENT LOAN PROFILE • SECURITY AGREEMENT PROVIDES COLLATERAL ARRANGEMENT FOR SELLER • NOTE BINDS THE PARTIES • CREDIT LIFE INSURANCE?? • ?? ACCELERATION CLAUSE, REPOSSESSION, BALLOON PAYMENT

  8. INTEREST COMPUTATION • SIMPLE • ADD-ON • NOTICE THE “APR” DISCLOSURE • ?? PREPAYMENT PENALTY