It’s easy to get sticker shock when shopping for a new car or truck, as they’ve gotten REALLY expensive in recent years. To combat this, lenders have started offering longer duration loans to keep people’s monthly payments down, with some as long as 84-months!
Do you really want to be stuck paying off your car for 7 years? Unless you plan on owning this car for the rest of your life and driving it into the ground, the answer is probably “No”.
So what’s the alternative if you absolutely must get a new car? Leasing.
Now I know what you’re thinking. “I don’t want to have a never-ending car payment..” Sure, that’s one way to look at it, but here’s another way to look at it. With leasing, you’re basically getting into a new vehicle every 2-3 years, you can afford to drive a nicer (higher-priced) car than you might otherwise be able to afford, and the car will be covered under warranty should anything go wrong. And at the end, you just drop off the car at the dealer.
Leasing often gets a bad rep, but depending on your situation, it might just be the best option for you. If you’re someone who drives less than 15,000 miles a year, typically holds onto a car for 3 years or less, wants the latest and greatest in technology, and doesn’t want to deal with the hassle of selling or trading in your old car, leasing makes total sense.
On the flip side, when you’re leasing a car, you’ve got some limitations that you have to keep in mind. Mileage is perhaps the most important. Most lease contracts allow for between 12K-15K miles per year. Go over that, and you will have to pay an excess mileage penalty, which could range from $0.10-$0.50 for every additional mile. As one of my friends learned the hard way, that can get real expensive in a hurry.
In addition, you need to bring back the car in “as it left the showroom” condition, minus usual wear and tear. So if you’re someone that plans on heavily modifying their vehicle (body kit, lowering springs, upgraded turbo, etc), you’re better off buying the car outright.
So there you have it. In the end, the buying vs leasing debate really comes down to your wants and needs. If you like getting into a new car every few years, wants a lower monthly payment, and don’t mind the mileage restrictions, leasing is a great option. But if you are someone who would much rather own a car outright, without any restrictions on what they can and can’t do, then buying is probably a better fit for you.
Either way, make sure that you do your proper due diligence before signing on the dotted line, as accepting the wrong deal can end up costing you big time. Click here for more information about your various contract hire and leasing options.
Dealing With Large Age Differences In The Workplace
Millennials get a lot of heat from other people in the workplace (they are lazy, entitled, won’t get off their phones, dress funny, etc), and there’s no question that it’s often difficult getting Traditionalists, Baby Boomers, Gen Xers, Millennials and Gen Zers to work together and get on the same page.
Aside from working with recruitment agencies to help you find the best candidates for the job, you can employ the strategies below to improve the relations among these diverse groups.
Look Past Age
Avoid making biased judgments based on an employee’s age. The fact is you are dealing with individuals, not generational stereotypes. When it comes to managing a multigenerational team, it’s best to deal with each member based on his or her unique strengths, abilities and goals. When you focus on individuality, age becomes less relevant.
Each generation is an asset to the company culture because these groups can learn from one another. For instance, Baby Boomers have years of career and life experience that can help Millennials excel professionally and personally. Likewise, tech-savvy Gen Zers can assist older workers with staying up to speed on the latest gadgets. This type of interaction helps to:
- Nurture teamwork
- Stimulate collaboration
- Develop mutual respect
One of the benefits of working with finance headhunters Los Angeles is their ability to recruit candidates who can fit easily into a multigenerational work setting.
Open The Lines Of Communication
There’s no question that generational differences are real. For example, Millennials are team-oriented while Generation Xers tend to question authority. This diverse workstyle can clash, causing stress, tension and conflict. Hold a brief staff meeting acknowledging and explaining these different characteristics.
Addressing problems quickly can prevent toxicity in the workplace. Also, encourage them to focus on their commonalities. Who knows? The 22-year old staffer may enjoy gardening as much as her 60-year old co-worker does.
Like it or not, multigenerational companies are the norm in today’s business world. While this form of diversity poses its own challenges in the workplace, these issues can be resolved with unbiased judgments, cross-generational mentorship and open dialogue. So don’t stress about it, and contact Beacon Resources at 1-844-500-8100 to match you with the top finance and accounting candidates from any generation.
Why Your Business Needs a Tax ID Number
Anyone who has ever filed taxes before knows that the amount of information needed to complete the forms can be staggering. This is especially true for small business owners, who will need to supply a variety of documents and figures in order to successfully file. One of the most important things that you will need to provide as an entrepreneur and business owner is a tax ID number. This helps the IRS identify you and follow your business. If you don’t have one yet, keep reading to find out how you can apply for a federal tax ID number and be ready when tax time rolls around.
Federal Tax ID Number Application
In order to obtain a federal tax ID number, you must complete a federal tax ID number application. This lets the IRS know that you are in need of a number in order to file your taxes correctly, and they will begin looking through your application as soon as they receive it. The process should be an overly long one, and before long you will have the federal tax ID number that you need in order to stay compliant with the IRS.
Get Tax ID Online
Are you wary about the time involved to complete the federal tax ID number application? It’s understandable to be concerned about how much time you might have to spend filling out paperwork. In reality, however, you can often fill out the application and get your tax ID online! That means that you can apply when the time is convenient for you and not have to worry about mailing or faxing in hard copies of your application. Complete the federal tax ID number application today and get your tax ID online!
Apply online for an IRS EIN/Tax ID Number at irs-ein-tax-id.com.
What Would You Do If You Won Tonight’s $1.5 Billion Powerball Jackpot?
I’m not usually one of those people who get Powerball fever, but with a record-breaking $1.5 billion jackpot up for grabs, you’d better believe that I picked up a ticket on my way to work this morning!
The odds of winning this historic jackpot are 292 million to 1.. So while it looks like most of us will be heading off to work tomorrow, as Lloyd would say, “So you’re telling me there’s a chance!”
So what would you do with $1.5 billion if you won? Yeah, we’d all pay off our debt, buy a big house and fill up the garages with exotic cars. But what would you splurge on?
Take a trip to the moon for $750 million? Buy the Playboy mansion for $200 million? Stay at the Burj Al Arab Jumeirah Hotel in Dubai for $35,444 a night? Fly around the world in your own $65 million Gulfstream G650? Maybe buy a super yacht for $275 million? The possibilities are endless..
Sound off in the comments section below and let us know what you’d spend the money on!