October 31, 2023

Navigating Auto Loans: Your Go-To Guide for Auto Loan Calculators

It has been 5 years since our application and approval for the auto loan. We are grateful that in two months we are able to fully-paid our auto loan.

Now, If you're are planning to make an autoloan, you are going to need few financial assistance. An auto loan calculators are nowadays available online for you to determine how much will it cost you to have your dream car.

What's an Auto Loan Calculator?
An auto loan calculator is like your financial tool, providing you with a sneak peek into what your car financing journey will look like. It takes into account important factors such as the loan amount, interest rate, loan term, and any additional charges to give you a clear picture of your car loan.

Using an auto loan calculator is as straightforward as filling in a few essential details.

How Does an Auto Loan Calculator Work?

Loan Amount
Start by entering the total amount you plan to borrow. This includes not just the car's price but also taxes, registration fees, and any extras you want to finance.

Interest Rate
Key in the annual interest rate offered by your lender, typically shown as a percentage.

Loan Term
Specify how many months you'll take to repay the loan. Auto loan terms usually range from 36 to 72 months, but some lenders might offer shorter or longer terms.

Additional Fees
If your loan includes extra charges like origination fees or insurance costs, include them here.

Once you've filled in these details, the auto loan calculator will give you several results like the monthly amortization, total interest, total loan cost, etc.

Monthly Ammortization
This is the amount you need to pay each month to clear the loan within the specified term.

Total Interest
It shows the total interest you'll pay over the life of the loan.

Total Cost
The grand total of your principal loan amount and the total interest paid.

What are the advantages of using loan calculators?
Comparing Loans
Auto loan calculators are great for comparing different loan options. Adjust the loan amount, interest rate, and loan term to find the best financing option for your budget.

The calculator helps you see how your car loan will impact your monthly expenses. This is invaluable for creating a budget you can comfortably manage.

With the knowledge from the calculator, you'll be in a better position to negotiate with lenders for a lower interest rate or more favorable loan terms.

Financial Planning
Use the auto loan calculator for long-term planning. Understand how different loan terms and down payments can influence your financial stability over the years.

Auto loan calculators are your trusted companions when it comes to car financing. They provide invaluable insights into the cost of a car loan, enabling you to make well-informed decisions and steer clear of financial surprises. By using this tool, you can take charge of your car financing, manage your budget effectively, and drive off the lot with confidence.

Always remember that when it comes to auto loans, knowledge is your greatest asset. So, before you commit to any car loan, do your homework, and put that auto loan calculator to good use. It's your ticket to ensuring you make the best financial choice for your unique needs and circumstances.

Happy car shopping!

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October 4, 2023

The Impact of Overbilling in Construction Bond Programs

Construction contracts often require contractors to procure bid, performance and payment bonds. These bonding requirements often are a condition to receive a contractor's license. A cost-to-complete or backlog schedule is an important tool used by surety companies during underwriting to determine a contractor's open single job and aggregate bonding capacity. This is usually reviewed via a contractor's work-in-progress report.

Overbillings are a Sign of Cash Flow Issues
Construction projects often require a significant upfront investment in equipment, materials, and labor. It's no secret that cash flow can be tight in the industry, and if a contractor needs to be more careful about managing project costs and change orders throughout a build, they can quickly run into issues. While some overbilling is typical, significant amounts can create a cash flow issue for contractors that need to be more careful. This is because the profit and loss statement (P&L) will appear to have lots of money in the bank, which could lead to them 'borrowing' from future projects or spending on other expenses too soon.

The best way to avoid this issue is by having strong accounting and financial teams that closely monitor project costs, progress, and billings and structuring project billings with micro-milestones to maintain a consistent influx of cash. This will help mitigate the impact of the construction industry's notoriously slow payment cycles.

Overbillings are a Sign of Job Borrowing
Contractors can find themselves in a situation where their costs to date on a project exceed the amount of revenue recognized to date on that same job. This is a common issue in industries with slow payment turnarounds, like construction. The solution to this problem is a well-managed Work in Progress (WIP) report that ensures current cost accrual is kept on par with billings. Significant overbilling can lead to a scenario known as job borrow, where the contractor has billed revenues that they will not have the ability to bill again once the contract is completed. This liability on the balance sheet can put your company at risk of future cash flow problems.

Even though the contractors are frontloading their jobs, this may not be a good idea for long projects. Significant overbilling could lead to a snowball effect where the contractor has to use the money from new jobs to cover the costs of jobs still being worked on, ultimately depleting their working capital.

Overbillings are a Sign of Subcontractor Issues
Clearly articulating project scope, changes, and agreements helps reduce misunderstandings that often lead to overbilling. Robust project management systems that utilize automation tools with human oversight ensure meticulous tracking, curbing overbilling. Regular reconciliations that cross-reference invoices with actual completed work also help to keep tabs on progress, catching discrepancies early and eliminating overbilling before it can become problematic. While fraudulent overbilling schemes can be extremely damaging, some overbilling is common for construction contractors with slow-payment clients who want to stay ahead of the project cash runway.

However, significant overbilling can indicate a contractor is using profits from one job to fund losses on another, which can raise red flags with contract surety bonding companies. It is also important to understand the difference between overbilling and underbilling when using a percentage of completion project accounting since both can occur on projects with extended timelines. Underbillings, referred to as Costs over Billings on Uncompleted Contracts, are an asset on the balance sheet because the contractor has yet to earn the revenue but will do so at some point.

Overbillings are a Sign of Payment Issues
Overbilling occurs when the contractor invoices their customer for work completed before it is complete. This is a common construction industry practice as contractors often front load (bill higher upfront) contracts in anticipation of slow payment cycles, and it can be a useful tool for keeping cash flow stable throughout the project. The issue arises when overbilling is extensive, particularly on long projects.

A significant overbilling can cause a contractor to face job borrowing, where the estimated cost to finish the contract exceeds available cash. This is a critical issue that must be addressed. A best practice for construction companies is to stay slightly ahead of billings on all projects. This is usually achieved through a WIP schedule matching invoice and cost accounting with actual construction progress. However, a significant amount of overbilling can indicate future payment problems and should be brought to the attention of your contract surety underwriter.
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October 2, 2023

The Science Behind Vape Tricks

Source: Vladdin

Vaping has taken the world by storm in recent years and has become more than just a popular alternative to smoking. It has also developed into an art form, with vapers able to blow vapor into intricate shapes like rings and jellyfish.

Whether or not you want to learn these tricks, you should know the science behind them.

Vape tricks are fun for showing off your skills and creating cool visual effects. The key is to use a high-quality device with a low-resistance coil to get thick clouds of vapor and the best e-liquid to match. If you have a device that can produce different colors of vapor, this is even better and can add some style to any trick.

There are a lot of different vape tricks out there, but some require more practice than others. Some more complex tricks, like vapor bending and bubbles, are not easy to master for beginners.

Vapor Ring
You’ve probably seen videos of vapers producing colorful vapor in their clouds. While technically, this isn’t a trick, it can still be an excellent way to enhance any other tricks you may do visually. You can accomplish this effect in post-production using digital editing or a mod that uses LED lighting to color your cloud.

One of the easiest tricks to master is the vapor ring, a “ghost inhale.” This trick involves releasing a ball of vapor and then pulling it back in. It’s not a trick for newbies, but it will look impressive once you get it down.

For this trick, you will need a high-VG e-liquid that can produce thick plumes of vapor. You will want to use a mouth-to-lung inhalation method, which works best for beginners and smaller vapes, or a direct lung (DL) inhalation mode for larger devices.

Scientists are still learning about vaping’s health impacts, but the aerosols produced can damage the thin layer of protective mucus that coats the nose, lungs, and mouth. These tiny changes over time could increase your risk of certain diseases.

Single O’s
One of the more challenging cool vape tricks to master requires a steady hand and careful manipulation. It involves exhaling vapor into the air, then twisting it into a tight spiral shape — similar to a smoke ring. You’ll need a lot of practice to perfect the trick, but it’s sure to impress once you do.

One of the most popular vape tricks, the waterfall, is simple enough for even a novice to master. Start by taking a total drag of your device to do this trick, but don’t inhale it into your lungs. Then, shape your mouth into an ‘O’ shape with the back of your tongue and the bottom of your throat flat against your mouth and lips.

Slowly push the vapor out, starting from the back of your mouth and moving down to your nose, forcing a downward flow of smoke with each breath. This trick will require a bit of practice, but once you’re comfortable with it, you can easily create four distinct plumes of vapor that will make you look like a dragon.

The tornado is another impressive vape trick that isn’t difficult to learn. It requires more skill than the waterfall but is a great way to impress your friends and stand out from other vapers. This trick works best with a powerful device and a high vegetable glycerin liquid, as it’s all about movement.

When practicing your vape tricks, try to do it in a quiet environment, without distractions like televisions or other people. This will help you keep your movements consistent, improving the quality of your finished result. Additionally, it will be easier to see if you are doing the trick correctly without being distracted by other noises.

Vape tricks can be fun to perform and can turn some heads. However, it’s essential to be safe when performing them in public. It’s best to practice these tricks indoors, shielded from the wind and away from fans. It’s also a good idea to use a low nicotine-content e-liquid when practicing so that you don’t get too high quickly.

The tornado is a cool trick that looks like it’s complicated but is relatively easy to master. To do it, you need to isolate a flat pool of vapor and then chop at it with your hand in a chopping motion while quickly driving up your arm. This causes the vapor to swirl upward and create the tornado effect. This is one of the cooler tricks and would look great in any vape video compilation.

These are just a few vape tricks you can try, and they’re all beginner-friendly. If you want to improve your technique, it’s worth watching some tutorial videos on YouTube.

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