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— Slide 5: Using the BLOC to Fund Needs —
Let's Use Your BLOC Instead to Finance Your Car

Let's take the same example and use your BLOC to finance the car. Total financing: $27,000.

Your BLOC account would look like this:

BLOC Account
Starting Credit Line Balance: $60,000




Advance from BLOC

Payment to BLOC

Balance Owned
Aug Beginning Balance     $2,500

Finance Auto

$27,000   $29,500
Aug BLOC Living Expenses $4,000   $33,500
Aug Pay Paychecks   $5,000 $28,500
Total BLOC   $31,000 $5,000 $28,500
What Does This Show

  Balance Forward from July: - $2,500 (slide3)
  An Advance from your BLOC - $27,000
  Pay Living Expenses - $4,000
  Balance Owned - $33,500
  Deposit Payment + $5,000
  Ending Balance Owned - $28,500

  • your starting balance was $2,500
  • your ending balance was $28,500
  • you financed an auto purchase of $27,000
  • you never made a schedule payment to the BLOC:
    your income represented your monthly payment
  • you borrowed $31,000 from the BLOC
  • you paid into the BLOC $5,000
  • you only pay interest on the $28,500 balance, which included a credit card payoff of $3,500

    (in this example, your avg. daily balance for the month - including your credit card payoff - would approximate around $26,500 with the deposits coming in. Interest charges would be about $177 per month at 8%.

    Without the credit card payoff charges, your avg. daily balance for the month with the deposits coming in would approximate around $24,500. Interest charges would be about $163 per month at 8%).

    let's review this further in the next slide

Home Equity Application

BANK EQUITY for Auto Buying