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In The Media

FICO Score of a Under 21 Year Old Versus Car Dealership Profit

by Larry Chiang on December 16, 2015

Larry Chiang encourages CS majors to cram MBA knowledge into their brain before the “2+2” uber early admit, MBA program at GSB-HBS. Why should you trust a New York Times best selling author who moonlights as a New York Fashion Week supermodel? See the #CSmajorCRO skills. For example, months-and-months of pre launch promotions paid off on 09-09-09. What They Don’t Teach You At Stanford Business School hit as a sequel to, “What They Don’t Teach You at Harvard Business School“. Stanford Engineering liked it enough to bring the street smart concept into the fold at #ENGR145. Startup your CS major “Chief Revenue Officer” skills inside any Computer Science department.


New York Fashion Week will be Sept 9-19, 2016.
— Larry Chiang
CEO, Duck9

By Larry Chiang

If you’re under 24 years old and in need of a car, your bad FICO score will cost you a ton of money. Having a lower than 750 FICO score will
– cost you a ton of money on interest
– raise your car payment

– allow the car dealer selling you a car to make a ton of money. See the cautionary tale of Joe Bayen. He paid $330 a month for an Escort. 

Larry Chiang (@LarryChiang)
at the negotiation table $330 per month Re; ford escort ZX2 that I could not afford #cs183usedCar #CS183creditScore twitter.com/mjones/status/…


Download the Twitter app to your iPhone to see 
Joe Bayen‘s turnaround. 

Michael Jones (@mjones)
“From Bad Credit Score to Millionaire: How My Journey is Helping Students and Millennials.” by @JoeBayen medium.com/@joebayen/from…

 

 

Larry Chiang (@LarryChiang)
The car dealership makes $200 over invoice, $450 on dealer holdback and $2k on the paper :-)) #FirstTimeBuyer #cs183UsedCar

Your first car loan could wreck your FICO score and put yourself in an immediate financial ditch. For example, paying payment number #27 of 48, Joe Bayen probably wanted to just default on the $330/month payment. It’s because his Escort was worth a fraction of what he owed. 

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image1.JPG
My first two cars were purchased private party at thousand and thousands under “blue book value”. See the duck9 blog on how I bought two cars way under market value.
– called to find wealthy owners selling FSBO
– focus’d on wealthy owners who were selling well taken care of cars.
– wealthy millionaires don’t all drive luxury vehicles. In fact, many don’t. That’s why we are rich.
– tracked calls and leads in a binder. Thing CRM but on paper.
– organized financing BEFORE by preparing my FICO (like I prepared to win the SAT’s. I am Asian after all:-)
– ran CarFax on VIN’s.
– asked for maintenance records.
– told buyers about my financial worthiness via eBay credibility. Today, I’d add Airbnb to my purchase track. On eBay, I’m 38 for 38
I test drive pretty well over the telephone and over the Internet. It makes me bangable.
On Airbnb, I’m https://www.airbnb.com/
 
– stuck to the interrogation script because I was ‘buying’ the owner of the used car first and the used car he was selling, SECOND.
– stayed away from Curbstoners
– stayed far away from dealerships.

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