by Telstar Logistics
The price of not acquiring quantitative skills (which are developed in math courses) could be cost prohibitive. Recently, I watched the news a report on how people are getting into financial troubles when purchasing a new car. The problem is that more people are taking car loans in which they owe a lot more than the real value of the car. This is called an upside-down loan. People are making decisions of buying a new car based on no-down payment deals and longer terms to payback the loan to allegedly save a few bucks. Unfortunately, if they would have done the math, they would have realized they are not saving at all! Click the link below to read an article about the incresed trend of upside-down loans.
clipped from http://www.bankrate.com/brm/news/auto/20030728a1.asp
"Upside down" means owing more on a car than it's worth. When a dealer knocks
"It's an alarming statistic that 40 percent of consumers are upside down."
How could this happen? It's easy. Just combine a low down payment or no down
Some folks make matters worse by rolling the old car's remaining debt into a new