tCIje CFiarlotte ^o£it
THURSDAY, AUGUST 22, 1996
STRICTLY BUSINESS
Study auto
leasing
contracts
CHARLES ROSS
Your
Personal I
Finance
Heroes sought by McDonald’s
Special to the Post
Auto leasing can be confusing,
expecially with all the jargon
the agents use. Here are some
key terms: The lease rate is
essentially the interest rate
used to finance the car. The
residual value is the estimated
value of the car at the end of the
lease.
Capitalized cost is the price of
the car plus some miscellaneous
charges, and is should be well
below the manufacturer’s sug
gested retail price.
Capitalized cost reduction is
your down payment that you
give up front to reduce your
monthly payment.
Another confusing factor: the
low monthly pa5rments are not
the most important thing to con
sider. Think about three things:
the vehicle’s price, the lease’s
finance rate emd the car’s value
at the end of the lease. If you
don’t like what you see in any
one of these, the time to negoti
ate is before you sing the con
tract.
I Lemon/Liability Coverage
Could anything be more sour
than the experience of bujdng a
car that turns out to be a
lemon? Yes. Leasing a lemon.
Not every state’s lemon laws
protect you if you lease your car
instead of bujdng it. In many
states, coverage depends upon
the lease agreements and war
ranties, and in other states, if
you lease a lemon, you’re just
out of luck. Your state attorney
general’s office can tell you
about the laws in your state.
You can find the number in the
government pages of the phone
book.
Another possible surprise;
most lease contracts require you
to have more habihty coverEige
than what’s required by state
laws, and most insurance com
panies require the same cover
age on all your cars. So your
other cars must carry the higher
policy limits which will increase
you car insurance costs.
Total Loss/Good Shape
Contracts require that a
leased car must be returned in
“good shape.” But what if you
and the leasing company don’t
agree on the definition of “good
shape?” Unfortunately, in this
situation, you are not in the dri
ver’s seat!
You can get some protection
See LEASING on page 8A
If you know someone who
unselfishly reaches out to others
and continues to show an ever
lasting commitment to uphfting
the Afiican American communi
ty, then McDonald's wants you
to enter their name in the
McDonald's McHero Awards.
B^iiming Aug. 1, citizens are
asked to nominate their favorite
local commimity heroes in the
McDonald's McHero Awards.
Sponsored in part by The
Charlotte Post, the awards are
designed to recognize and honor
men and women who are mak
ing positive contributions in the
Afiican American community.
McDonald's will select the top
10 community heroes to feature
in their newspaper and radio
advertisements, hi addition, all
nominees and winners will be
honored at, a banquet celebra
tion in Charlotte.
”As a local McDonald's
owner/operator, I see so many
people working hard in oiir com
munities everyday to make a
difference,'' said Charlotte fimn-
chisee John Hairston. "The
McHero will give the opportuni
ty to acknowledge those individ
uals for their tireless efforts and
outstanding contributions."
"This is in keeping with our
belief in the
recognition of
individuals
within the
African
American
community,"
said Gerald
Johnson, pub
lisher of The
Post.
Johnson is
excited about
the Post's participation in the
program.
"It is wonderful to be able to
Johnson
recognize eveiyday individuals,"
he added. "Not just our
atheletes, or entertainers.”
Interested individuals are
asked to submit the name,
address, and telephone number
of their favorite local communi
ty hero and a brief summary in
200 words or less on why they
should be selected. All entries
must be in by Sept. 6 and
should be mailed to McDonedd's,
3200 Beechleaf Court, Suite
300, Raleigh, N.C. 27604, Attn.
Karen Brown Tyson.
In October, the McDonald's
McHero Awards selection will
annoimce the winners.
Stylists expands services
Career spans a generation of styles, fads
By Jeri Young
THE CHARLOTTE POST
The ethnic hair care industry
has grown by leaps and
bounds. African American
women spend bilHons on hair
and beauty products.
As styles have changed so
have the services offered to
Afiican American women and
men. Rather than just a place
to get a perm and cut, today's
ethnic salons offer clients ser
vices that range from mani
cures and pedicures to body
wraps.
"I have seen the industry
grow in terms of what chents
want," said Diane Ervin. "It
used to be curly perms or the
Farrah Fawcett look. Now
clients are more into the nat
ural look."
Ervin, 47, is owner of Styles
by Dy'Ann, a full service
salon located on Fulton
Street.
After 26 years in hair care,
Ervin has revamped her
salon to meet the everchang-
ing hair care needs of Afiican
Americans.
Styles by Dy'Ann opened in
December with a new list of
services for clients that
includes massage therapy
and an advanced skin care
line designed specifically for
women of color.
When Ervin graduated
from Ohio's Central State
University in 1967 with a
PHOTO/SUE ANN JOHNSON
Stylist Diane Ervin
degree in medical technology,
she knew that she did not
want to be a chemist. Hair
styhng, and chemical process
ing for women of color were
"becoming big" and Erwin
thought a career in cosmetol
ogy would provide the chal
lenge she needed.
"Relaxers started before,"
she said. "But by the time I
started looking at hairdress
ing, the products has
improved quite a bit."
After graduating from
Charlotte's Southeastern
Beauty College, Ervin
became a platform artist and
product developer for Revlon,
and worked for the team that
developed Revlon's first eth
nic curly perm, the Sensor.
According to Ervin, today's
clients are more informed
about their wants and needs
and are carefully screening
stylists.
"They are concerned about
quality," said Ervin. "They
want their stylist to stay up
on the latest techniques and
styles."
Ervin also says clients and
stylist aHke are interested in
community service. Ervin and
her staff donate time to vari
ous community organizations,
including the battered wom
en's shelter.
Ervin is also beginning a
partnership with Wall's
Memorial AME Zion
Church’s's Family Services
program.
Ervin will provide haircare
and makeup for clients going
on job interviews.
"White women have always
had these services," said
Ervin. "Now we are making
them available to African
American women."
100 Black Men appoint executive director
Special to the Post
Atlanta, Ga. - 'The 100 Black
Men of America, Inc. recently
announced the appointment of
Dwayne Ashley, to the position
of nationed executive director.
Ashley will be responsible for
leading the organization in
achieving its goals and rolling
out its national agenda. He will
work closely with the board of
directors to expand the organi
zation's fimding and outreach
to the community.
Ashley's career includes seven
years as a fundraising executive
for non-profit organizations.
Prior to joining the 100 Black
Men of America, he was area
development director for the
United Negro College Fund. In
this position, he served as chief
administrator for two of the
College Fund's largest markets.
Under Ashley's leadership, his
region achieved record
fimdraising results, including
some of the Fund's largest gifts.
He also implemented a number
of initiatives which expanded
the College Fund's program
matic outreach throughout the
Pennsylvania, Delaware, West
Virginia and New Jersey
regions.
Before joining the College
Fund's executive team, Ashley
See 100 on page 8A
BUSINESS TO BUSINESS
A matter of
policy;
plans differ
Money
Management
By Amanda S. Danchi
SPECIAL TO THE POST
Most people recognize that fife
insurance is a necessary safe
guard for their families.
However, they often don't real
ize that not all pohcies are cre
ated equal. The North Carolina
Association of CPAs says that
whether you're shopping for life
insurance for the first time or
assessing your current coverage,
it's important to review a poli
cy's costs, terms, conditions, and
limitations to determine
whether it can meet your cur
rent and future financiEd needs.
Here is a rundown of the prima-
ly types of life insurance on the
market today and what they
can and can't offer you.
Term Life Insurance May
Offer Lower Cost and
Flexibility
Under a term life insurance
policy, you pay an annual pre
mium to insure your life for a
fixed period (one year, five
years, or more), and the benefit
is paid at your death. This type
of policy is typically the least
expensive because there is no
cash buildup. You can opt to
have declining or decreasing
term life, where the face value
of the policy declines according
to a fixed schedule, such as over
10 or 15 years. This arrange
ment presumes that you'll need
less coverage as your family
gets older. The main disadvan
tage of purchasing a term policy
is that if the "term" of the policy
expires before you do, you will
not receive any death benefit.
Consequently, such policies
sometimes need to be renewed
or replaced. Some term policies
help you avoid this situation by
including a "guaranteed renew
able" option or a provision that
allows you to convert your poli
cy, for a higher premium, to a
cash value policy. It's important
to look for these options when
purchasing a term Hfe policy.
Whole Life Insurance: An
Investment Alternative
Whole life insurance, on the
other hand, covers your whole
life instead of just a specified
term. What's more, your premi
ums -- which can be paid
monthly, quarterly or annually
will be invested by the insur
ance company to build the cash
value of your policy. You also
have the option of borrowing
against this cash value. Whole
fife policies offer a cash surren
der benefit as well. So, you can
surrender or void the jjolicy and
receive its equivalent cash value
See MONEY on page 8A
FLEMING MORTUARY TRANSPORT SERVICE
Transporting, Removal, Embalming, Shipping
1830 Haines St. • Chariotte, N.C. 28216
Phone: 704/399-7381 - Fax: 704/399-7395
Oxicated 10 Miles from Douglas International Airport)
-24 Hour Service is Available-
Urn Fleming - President
Dennis W. Miller - Mortician
Wayne V. Russell - Mortician
Jerry Wallace - Mortician
William Byrd - Mortician
Ken Watson
‘'Quality and Service
Is Our Business"
Let US sharpen your image with affordable full color digital printing. We
can offer short run, high quality printing at competitive rates.
♦ 1 Sided 8.5 X 11 Flyers as low as .59 each
♦ 2 Sided Brochures with tri-fold as low as .91 each
(typesetting and photo scanning not included in price)
CONTACT: Dee at 522-7724 or David at 522-6362
DJE GRAPHICS for more details
Visit The Charlotte
Post in cyberspace.
Our address is:
http://www.thepost.mindspring.com
At last! A Certified MBE Company
That Can Handle Your Office Needs!
• Copy Paper • Computer Paper • Toner
Ink Cartridges, Etc.... And We Deliver
Call or Fax Today!
(704) 522-9411 * Fax (704) 522-9413
8227-E Arrowridge Blvd. Charlotte, NC 28273 • Don Black, Pres.
MORTGAGES MADE EASY
UNIQUE MORTAGE INC.
Working harder So You Can
Achieve The American Dream
8’8-628J
FAX #878-6285
132 Court St. » Statesville
FIRST & SECOND MORTGAGES
LOW FIXED RATES
“HARD TO DO’ LOANS
HOME EQUITY LOANS
CONSTRUCTION LOANS
TRAINED PROEESSIONALS &
COUNSELING
NO APPUCATION COST A
APPLY BY PHONE OR MAIL
Evenings & Weekends By Appointment
TV & VCR REPAIR
“IN HOME/IN BUSINESS”
KEEP THE FAITH,
MATTHEW 7:7
Night Owl TV & VCR Services
Specializing In
Home Theater, Surround Sound, Pictvre-N-Picture
Consulting And Set-Up
SERVING ALL OF METRO CHARLOTTE
004)52^0642 • Pager582-7708 ^BLACKOWNED ENTERPRISE*