When is the best day to take out a loan if you are planning on doing stadium construction??
Forum > FAQ's, Player Guides and Newbie Help > Loans
Achelon
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Day 48, construction will happen at rollover, next rollover season tickets sell, pay back the loan like nothing happened
Novus
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Originally posted by CyberNinja
Day 48, construction will happen at rollover, next rollover season tickets sell, pay back the loan like nothing happened
This.
However, like all things that are best done on Day 48, you run the risk of something happening on Day 48 that keeps you from getting online -- hurricane, tornado, flash flood, car accident, terrorist attack, Bubonic Plague-induced quarantine, freak August blizzard, alien gerbil invasion, your Mom finally kicks your lazy ass out of the basement and tells you to get a job, etc.
So, here's what I would do... take out the loan on Day 45 and order the stadium construction.
If you are able to log-in on Day 48, you can always cancel the construction, pay back the loan, and then turn right around and take the loan out AGAIN and re-order the construction AGAIN, and thus re-start the clock on paying back the loan.
If something happens and you can't log in on Day 48, it's okay... you already took out the loan and ordered the construction back on Day 45, so you're covered. You'll just have 7 days to pay the loan back instead of 10 (since the clock will have been running for 3 days), but that shouldn't be a problem anyway.
Day 48, construction will happen at rollover, next rollover season tickets sell, pay back the loan like nothing happened
This.
However, like all things that are best done on Day 48, you run the risk of something happening on Day 48 that keeps you from getting online -- hurricane, tornado, flash flood, car accident, terrorist attack, Bubonic Plague-induced quarantine, freak August blizzard, alien gerbil invasion, your Mom finally kicks your lazy ass out of the basement and tells you to get a job, etc.
So, here's what I would do... take out the loan on Day 45 and order the stadium construction.
If you are able to log-in on Day 48, you can always cancel the construction, pay back the loan, and then turn right around and take the loan out AGAIN and re-order the construction AGAIN, and thus re-start the clock on paying back the loan.
If something happens and you can't log in on Day 48, it's okay... you already took out the loan and ordered the construction back on Day 45, so you're covered. You'll just have 7 days to pay the loan back instead of 10 (since the clock will have been running for 3 days), but that shouldn't be a problem anyway.
Actually, as long as you pay off the loan early, you wont be charged any interest, so you can take up to 39 days to pay it off so long as you have 440k after 10 days.
Edited by Fumanchuchu on Sep 2, 2013 19:42:30
Novus
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Originally posted by Fumanchuchu
Actually, as long as you pay off the loan early, you wont be charged any interest, so you can take up to 39 days to pay it off so long as you have 440k after 10 days.
I'm preeeeeeety sure the payments include interest.
Regardless, if you can't figure out a way to pay your loan back in less than 10 days, you're probably doing something wrong with your finances anyway.
Actually, as long as you pay off the loan early, you wont be charged any interest, so you can take up to 39 days to pay it off so long as you have 440k after 10 days.
I'm preeeeeeety sure the payments include interest.
Regardless, if you can't figure out a way to pay your loan back in less than 10 days, you're probably doing something wrong with your finances anyway.
ChildishGambino
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Originally posted by Novus
I'm preeeeeeety sure the payments include interest.
Regardless, if you can't figure out a way to pay your loan back in less than 10 days, you're probably doing something wrong with your finances anyway.
Correct.
Sep 12, 2013 $1,500,000.00 $339,095.50 $101,250.00 $440,345.50
Sep 22, 2013 $1,160,904.50 $361,984.45 $78,361.05 $440,345.50
Oct 2, 2013 $798,920.05 $386,418.40 $53,927.10 $440,345.50
Oct 12, 2013 $412,501.65 $412,501.65 $27,843.86 $440,345.51
Third column is Interest.
The earliest I'd take out a Loan is Day 45, since sometimes people forget, esxpecially if you aren't the owner it's best to ask a few days in advance. Then when ticket sales go trhough on Day -7 (I think, maybe it's day -6 I forget) you can pay back in full without paying interest and having anything happen etc.
I'm preeeeeeety sure the payments include interest.
Regardless, if you can't figure out a way to pay your loan back in less than 10 days, you're probably doing something wrong with your finances anyway.
Correct.
Sep 12, 2013 $1,500,000.00 $339,095.50 $101,250.00 $440,345.50
Sep 22, 2013 $1,160,904.50 $361,984.45 $78,361.05 $440,345.50
Oct 2, 2013 $798,920.05 $386,418.40 $53,927.10 $440,345.50
Oct 12, 2013 $412,501.65 $412,501.65 $27,843.86 $440,345.51
Third column is Interest.
The earliest I'd take out a Loan is Day 45, since sometimes people forget, esxpecially if you aren't the owner it's best to ask a few days in advance. Then when ticket sales go trhough on Day -7 (I think, maybe it's day -6 I forget) you can pay back in full without paying interest and having anything happen etc.
SciFi not Syfy
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I had a team make a payment by mistake. We then paid off the loan a few days later, but the total amount still only added up to the $1.5m. I really like the day 45 idea.
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