Minardi Photography


You can dramatically reduce your monthly car payments and free up extra capital by using a little known finance program. Pay about half the normal monthly payments and buy the vehicle that you need for your photography business or image. If your monthly car payments normally would be $529.00, with this program they will only be $279.00 per month. If the payments on the vehicle that you would like would normally be $700.00 per month, this plan would allow you to purchase the same vehicle for $390.00 per month. It makes the vehicle you need and want affordable now instead of just a dream. It can also reduce your monthly expenditures if necessary and free up money for your photo business, or just allow you to save money when before you were not able.

The "Alternate to Lease Plan" is offered by most banks. It is sometimes called a "balloon purchase". Banks do not usually promote it, however. Pick the car you want new, or up to one year old. The car or vehicle must be elligible for financing for this program to work. The bank or credit union estimates what the value of the car is going to be in 3 to 5 years, and agrees to buy it back from you, or sell it to you at the end of that 3 to 5 year period at an agreed upon price. Therefore if an automobile sells today new for $20,000 and it will be worth $8,000 in 3 years, then you only finance the difference of $12,000. You will own the car but only be paying interest on the difference of $12,000 and not the total of $20,000. This substantially reduces your monthly payment. It is almost half as much.

In this plan you own the car and in 3 or 5 years, depending on your contract terms, you can return the car to the bank and walk away. You can repurchase your car, which I have done because I keep my vehicles in mint condition. You may also sell the car yourself during the contract period for more than the estimated worth and you reap the excess equity. As I just recently experienced, if you trade the car in on another car prior to the end of your contract, you can also reap this equity.

The bank may have you execute a closed end lease covering the contract period, but you actually own the vehicle and can take advantage of owning an asset and not the liability only situation of a lease. The terms of a closed end lease are very different from an open end lease. The terms that I recommend are very beneficial and mostly in your favor. To protect yourself as much as possible, be sure to insure the car prior to acceptance of it and list the lending institution on the policy. This program is a purchase, however, not a lease. There can be tax and other advantages by purchasing an asset as opposed to leasing whereby you only have a liability. This finance plan which I personally use lets you pay about half of the normal monthly amount because you are only paying for the use of the car as you use it. You are buying the entire vehicle, but you are paying the interest on only part of its value. This way you can purchase your photo vehicle and also purchase a new Nikon camera system and several bricks of Kodak film with your monthly savings.