Ultimate Finance Knowhow

timmyliao2001 asked:


Here is the deal. I kind of got taken from a shady Persian gentlemen who did the financing for me at my local Honda dealership. So he got me for a higher interest rate, lied to me so I would purchase stuff like extended warranty and gap insurance. My question is this: Based on my original loan the total loan amount of my interest would have been like $12,000 spread out over six years. But I went ahead and paid a large portion of that down and refinanced with a third party - therefore reducing the total interest to something like
$3500 over four years. So here is my question. Does this dishonest finance guy at the dealership get a cut of the original $12,000 and get his money up front? Or will he only get a cut of the total amount of interest I paid on the original loan which was about $1300? I want to know if by refinancing through some other lender if I took money away from him that he was expecting would come to him based on the terms of the original loan?

Ty

King Cobra fp asked:


I am currently doing entry-level finance-related accounting work in NYC, but do not hold a degree in Accounting (just your standard BA from your local not-nationally-recognized college with a lot of finance classload). I really want to get into more of a research analyst position, or something more to do with the management of securities for some type of fund. How do I get my foot in the door?

Vickie