Business

Financing vs. Leasing A Car: A Breakdown From Douglas Eze of Largo Financial Services

Published

3 years ago

October 1, 2021

If you’re interested in buying a car anytime soon, you may be wondering whether it’s best to finance it or lease it. There are many things to consider before making a decision that suits your lifestyle.

Here’s your guide to financing and leasing a car from wealth strategist Douglas Eze.

Leasing A Car

Leasing a car is good for people who don’t drive much or for people who have multiple cars.

For a middle-income American, there’s a lot to consider including out-of-pocket costs, mileage, and monthly payments.

While leasing may offer lower monthly payments, you’re still buying the car for the value of the car. If the car is $50,000, you’re leasing it for that same price. The major downside? You’re not receiving any discounts. Yes the finance guy will tell you that you will be paying lower because of the expected depreciation during the lease period and a possible benefit is that you can take it in for maintenance anytime you want, but, at the end of the day, when you lease a car, you’re not only paying more out-of-pocket each month, you’re also restricted by mileage.

Financing a car allows you to invest your money elsewhere. Your dollar today is more valuable than your dollar in the future. Your dollar today needs to be working for you and making you money.

Financing A Car

When financing a car, you own the car and get to keep it for as long as you want. If this is the option you choose, think about your financing options. Where do you want to finance it? How long do you want to finance the car?

Remember, a car cannot give you any equity. It’s more of a liability than it is an asset. Financing a car strategically offers you the opportunity to invest money elsewhere.

You may think that someone with a credit score of 850 whose income is over 7 figures would buy a car mostly or all up front. But, if they are wise, they won’t do this. Rather, they will finance for the longest term possible or allowed by the finance company. Again, it’s not that they can’t take a short loan term, because they most likely could, they do this because they are looking at the monthly out of pocket money. Here’s an example.

If someone purchases a $30,000 car, they are often presented with two loan options; 36 or 60 months. The 36 months option has an auto loan rate of 1.79%, resulting in a monthly payment of $857 and the total interest amount of $835 paid. The 60 months option, with a higher interest rate of 2.19%, results in a monthly payment of $528 and the total interest amount of $1700 paid.

Many will pick the 36 month option because of its low interest rate. However, the smarter decision would be to choose the 60 month one. Although you end up paying $865 more in interest total ($1700 minus $835), if you take the difference in the monthly payment, which is $329 a month ($857 minus $528), and save it, you will have $19,740 saved. Better yet, if you put it in an account that pays a 4% guaranteed interest, then the value will be $21,812. That’s WITH a $2072 interest earned.

The key is having access and control of your hard earned money. Keeping this example in mind, Douglas Eze can still show you how to pay off the car in 3 years without even making an extra payment.

Build Your Wealth Strategy With Financial Expert Douglas Eze

20 years ago, Douglas Eze founded Largo Financial Services. His calling is to equip individuals and families with the education and resources to build generational wealth. Douglas’ primary mission is to identify the areas his clients may be unknowingly throwing away money and empower them with the tools to begin saving for their future.

Largo Financial Services is Licensed in 50 states and the District of Columbia. To inquire about insurance, annuities, college plans, and tax-free retirement, schedule a free consultation with Douglas Eze and his team.

Business

Top 5 Virtual Assistant Companies to Watch in 2025

Published

2 weeks ago

January 23, 2025

Matthew Wiles

Running a successful business in today’s fast-paced world requires a sharp focus on growth, strategy, and efficiency. However, managing the day-to-day operations can often become overwhelming. That’s where virtual assistant (VA) companies come into play. These companies specialize in providing skilled professionals who can handle everything from administrative tasks to customer service, marketing, and beyond, allowing entrepreneurs and small business owners to focus on what they do best.

With so many VA companies on the market, choosing the right one can be a challenge. To help you navigate the options, we’ve compiled a list of the top 5 virtual assistant companies to watch in 2025. Whether you’re an entrepreneur, a startup founder, or a busy professional, these companies offer top-tier solutions to meet your needs.

1. Assist World – The Gold Standard in Virtual Assistance

At the top of our list is Assist World, a U.S.-based company renowned for its personalized approach to matching clients with virtual assistants. Assist World goes beyond the typical “one-size-fits-all” model by taking the time to understand your unique needs and connecting you with highly skilled VAs who align perfectly with your business goals.

What Makes Assist World Stand Out?

Personalized Matching: Assist World matches clients with virtual assistants based on their specific requirements, ensuring the right fit every time.
Comprehensive Onboarding Process: The company’s seamless onboarding process streamlines communication and ensures VAs hit the ground running.
Client Success Management: Dedicated client success managers oversee the relationship, providing ongoing support and ensuring smooth operations.
Flexibility and Scalability: Assist World caters to businesses of all sizes, offering flexible plans that can scale as your business grows.

Who Is It Best For?

Assist World is ideal for entrepreneurs and small-to-medium businesses seeking a reliable, high-quality VA service that delivers consistent results.

Pricing:

Pricing is customized based on your needs, making it accessible for a wide range of budgets. Schedule a free consultation to learn more.

2. Time Etc – Affordable and Efficient

If affordability is your priority, Time Etc is a strong contender. This VA company specializes in administrative tasks and offers services at competitive rates. With a team of experienced professionals, Time Etc focuses on helping clients boost productivity without breaking the bank.

Key Features:

Dedicated VAs with extensive experience.
Transparent pricing with no hidden fees.
Focused primarily on administrative and organizational tasks.

Who Is It Best For?

Time Etc is a great choice for solopreneurs and small businesses looking for cost-effective virtual assistance for basic tasks.

Pricing:

Plans start at $29 per hour, with discounts available for bulk hours.

3. Belay – A Leader in Remote Executive Assistance

For those in need of executive-level support, Belay is a premier option. This company specializes in matching clients with highly skilled remote assistants who can handle complex tasks such as calendar management, bookkeeping, and project coordination.

Key Features:

Focus on executive and specialized assistance.
Rigorous vetting process for VAs.
Excellent client support.

Who Is It Best For?

Belay is ideal for CEOs, executives, and high-level professionals who require top-tier assistance.

Pricing:

Premium services come at a higher price point, starting around $2,000 per month for part-time support (45 hours a month). For 85 hours a month, pricing sits around $3,800.

4. MyOutDesk – Virtual Assistants for Real Estate

Real estate professionals, take note: MyOutDesk is the go-to VA service for your industry. Specializing in real estate operations, MyOutDesk provides skilled VAs who can handle lead generation, transaction coordination, and CRM management.

Key Features:

Expertise in real estate processes.
Comprehensive training programs for VAs.
Proven track record with top real estate agents.

Who Is It Best For?

Realtors, brokers, and real estate teams looking to streamline their operations and focus on closing deals.

Pricing:

Pricing starts at $1,750 per month for full-time assistants.

5. Boldly – Premium Virtual Assistant Services

If you’re looking for high-quality, premium VA services, Boldly is worth considering. This company offers subscription-based plans that provide access to experienced VAs skilled in a variety of disciplines, including marketing, customer service, and project management.

Key Features:

Highly experienced professionals.
Flexible subscription plans.
Focus on long-term client relationships.

Who Is It Best For?

Businesses and individuals willing to invest in premium services for comprehensive support.

Pricing:

Plans start at $39 per hour, with monthly subscriptions available.

How to Choose the Right Virtual Assistant Company

When selecting a VA company, consider the following factors:

Your Business Needs: Identify the tasks you want to delegate and choose a company that specializes in those areas.
Budget: Assess how much you’re willing to invest in virtual assistance and find a provider that aligns with your budget.
Flexibility: Look for companies that offer scalable plans to grow with your business.
Support: Choose a company with excellent client support to ensure smooth communication and problem resolution.

Why Assist World Is the #1 Choice

While all the companies on this list offer excellent services, Assist World stands out for its personalized approach, exceptional client success management, and flexible solutions, and most importantly, their fair pricing. At Assist World, prices generally fall between $1,500 – $2,000 a month for a full-time dedicated executive assistant. With a proven track record of helping businesses thrive, Assist World is the ultimate partner for entrepreneurs and small businesses ready to scale efficiently and effectively.

Ready to take your business to the next level? Schedule a free consultation with Assist World today and discover the difference a high-quality virtual assistant can make.