I always wanted to have this!
Finder scopes are essential for long focal lengths telescopes since they provide much bigger field of view than the telescopes these are attached with. Telescopes are almost impossible to align without the help of finder scopes.
A finderscope is itself a small refractor telescope that show a few degrees of the sky. Almost all of the finderscopes come with crosshairs that accurately points the telescope to a particular object (bright stars in most cases).
With my C14, 9*50 finderscope comes as standard. Recently I forgot to cover the finderscope while imaging/viewing the sun. Something got messed up in there and I was having very blurred views. I ordered a new finderscope from Celestron which came with 8*50 specification. Works fine for me.
But then no finderscope is Telrad! Telrad is very smartly designed finderscope. It projects three red illuminated rings of 1/2, 2 and 4 degrees field of view on the sky through its glass plate. With finderscopes, one has to put the eye on the eyepiece, as any telescope is visually used, but not with Telrad. The beauty of this thing is that it can be used to view way back anywhere, from a reasonable distance, now that is very nice.
C14 is a huge OTA (optical tube assembly) which on an equatorial mount as big as Losmandy Titan proves very hard to align with a finderscope. Finally today i recieved my Telrad in the mail and I am sure Telrad will make aligning the scope so easy for me.