Is Auto Financing a Better Option Than Outright Purchase?

Acquiring ones own vehicle is a prestige issue with some people, while with others it may be a necessity and a means of easier traveling. While the rich and well off can afford to purchase vehicles of their choice with cash, the middle class and working class have to consider their financial situation and plan accordingly. This does not mean that vehicles are only for the rich, ordinary salaried employees and small businessmen too can afford vehicles. If they cannot afford to purchase the vehicle outright with cash, they can always opt for Auto Financing and Car Loans.

A few decades ago it was more difficult to get Car Loans or approach a bank for Auto Financing, but times have changed. Car companies have built up huge manufacturing facilities and manufacture hundreds of thousands of vehicles every month. They need to sell these vehicles and reduce inventory every month. Car companies realize that not everybody can purchase a vehicle with outright cash and this is where Banks, Auto Financing Companies step in. Banks and Auto Financing Companies collaborate with Vehicle Dealerships to provide Car Loans at an affordable rate to enable the salaried employee and middle class individual to own a vehicle.

The past few decades has seen the emergence of new car companies with newer models and latest and advanced technology and fuel efficiency. Every body would like to drive a new model and fuel-efficient vehicle and Auto Financing and Car Loan Companies are ever obliging and easily provide the required finance for new vehicles. The urge to acquire new customers and increase sales has also seen a war of sorts between different Car Loan Companies and many of them offer excellent rates of interest along with other benefits to entice a new client.

Auto Financing Companies also understand that it is not only beneficial to acquire new customers on a regular basis, but it is also essential to retain existing customers with excellent service. A happy and satisfied customer will always return if they need another vehicle and will also advise their friends and family to deal with a particular Auto Financing Company. As such they strive to reduce not only the paper work required, but they also give out gifts and incentives to entice the new customer to deal with their company.

Opting for Auto Financing is not a bad deal as interest rates are low and it also makes sense not to purchase a vehicle with full cash payment and thus reduce your bank balance. The money in your bank, which has been saved by opting for Car Loans, can be better utilized elsewhere, and in any case can serve as a safety net in bad times and financial emergencies. Once you have decided on Auto Financing your vehicle, you should first select the vehicle and then look around for a good Auto Financing company. Many vehicle dealerships have tie-ups with Car Loan companies and Banks and will provide assistance in selecting an Auto Financing company.

But you must still weigh the benefits and incentives offered by the different finance companies. Some of these companies also provide a Second chance at Auto Financing even if the customer has a previous bad credit record. Of course this will require more paper work and may even cost a bit more. But a Second credit chance at a Car Loan even with higher interest rate is better than no Car Loans.

Getting a Auto Finance Regardless of Bad Credit

Have you recently decided that you need to purchase a brand new car because of the high gas prices? If you own an SUV or large vehicle this could very well be a wise choice because you could potentially save hundreds of dollars on gas, by purchasing a smaller automobile. Maybe you just decided you want a brand new car, or maybe you do not have any specific reason, you simply have decided to buy a new car. Whatever your particular reason may be, you need to consider each of the aspects that are combined within new auto loan usa.

After you have decided on which car that you want to purchase, there are several different steps that are involved in new auto loans that you will need to check out.

There are a variety of questions that the car dealership, lending institution, or bank will be asking with you are considering the idea of new auto loans. You will need to choose which direction you will want to go with your loan. Do you want to take part in an auto finance? Or, maybe you are leaning more towards a secure loan on your new car. A secure loan is secured against the new car that you purchase as collateral. The advantage to getting this type of loan is that you have less of an interest rate to pay, compared to an bad credit auto finance. It does not matter which particular type of automobile loan that you choose, you will need to make these very important decisions before you sign that dotted line. They will be affecting how much you will end up paying in car payments every single month, and it can also affect the total balance on what you will owe.

Another very important decision that you will need to take into consideration is the desired length of time on which you would like to be responsible for making payments towards new no credit car loan. If you decide on a longer term to pay off your loan, you will be able to enjoy having lower payments, however, you will also end up paying a lot more towards the total amount in interest rates that you will be paying. Even though your car payments will be higher each month, when you elect a short-term payment plan for your loan, you will be able to save a lot more money this way with the benefit of a much lower interest rate. You will also be able to pay off the loan much sooner than you would be able to, when you choose a longer term for payoff.

There is another very important factor, when considering new auto loans. It is also one that will affect the total balance of your loan, as well as the amount of money you will be responsible for paying every single month for the payments on your new car. It is the total down payment that you plan to place down against the best car loan you are considering. Bear in mind that the more money you place down, the less your payments will be, and the less that you will have to pay back. Most dealerships and lending institutions will require that you place an amount that is at least 10% of the total for the car as a down payment.

Special Auto Financing For Bad Credit Individuals – 7 Tips

The ability to qualify for auto financing is something that just about everybody aspires to, but not everybody is able to achieve. The reason: bad credit.

You see, any FICO score under 600 is considered to be a poor credit score by the vast majority of auto financing lenders. And, what is even more challenging for poor-credit applicants is that most auto financing lenders consider the applicant’s credit score exclusively – but they often ignore other factors that could be relevant. They do not look at other factors that might otherwise indicate credit-worthiness, such as employment history or individual items on the applicant’s credit report.

If you have a poor credit score, you have no doubt experienced some challenges in getting approved for a loan. Here are 7 tips for finding special auto financing for bad credit individuals:

1. Find a car that is within your price range:

First, let’s get practical. You have a much better chance of qualifying for auto financing if you simply choose to purchase a car with a lower price tag. Yes, it would be great to get that all-frills-included, top-of-the-line model you have your eye on. But, with a poor credit score, beggars can’t be choosers, as they say. Do yourself a favor and select a lower-priced car now. In a couple of years, as you work to improve your credit score, you can always trade up to that better model.

2. Put together a sizable down payment in order to reduce your loan amount:

Another way to reduce the size of your loan – and increase your chances of getting special auto financing for bad credit individuals – is to come up with a larger down payment. This may not be possible for you, and that’s okay. But, if possible, scrape together more money for the down payment than the minimum required amount.

3. Run a credit check on yourself:

The bad credit auto financing lenders you are going apply to (see below) are going to run your credit score. That’s why it is a good idea to run a credit check on yourself first. By doing so, you can examine your report and look for anything that stands out – good or bad. Run your report with all three of the top agencies and become familiar with each one.

4. Approach one lender to get an idea of the rate you can qualify for:

The next strategic step to take is to establish a “baseline” quote by applying to just one new lender. Write down all of the details of the loan terms they offer you, including interest rate and repayment period (e.g., 60 months). You will request identical or better terms from the additional lenders to whom you apply.

5. Now, build a list of at least 5 bad credit auto financing lenders:

Your next step is to cast an even wider net by putting together a list of even more bad credit auto financing lenders. Your list should include at least 5 lenders. Search online.

6. Submit an auto financing application to each lender on your list:

Now, it is time to start submitting those applications. Apply to each and every lender on your list. Don’t get lazy and stop after you get your first offer or two (this will be tempting!). Instead, follow through to the end of the list.

7. Go back and negotiate for an even better offer:

Now, it is time to go back to those that made you a reasonable offer and negotiate for an even better one. Your chances of success will go up if you negotiate instead of just accepting what they offer you the first time around.

Getting the Best Interest Rates on Auto Financing

If you are in the market to purchase an automobile, you also need to have your eyes peeled in order to find the auto financing that you will need for your purchase. In that regard, if you are like other people shopping around to buy an automobile, you want to get the best interest rates on auto financing. However, in these challenging economic times, it can be a bigger challenge to obtain truly favorable interest rates on auto financing.

There are some tips and pointers that you should bear in mind when it comes to seeking and finding good interest rates on auto financing. By following these pointers, you will be in the best position to save money on the interest rates on any auto financing you obtain.

Get Your Auto Credit History in Order

When you are seeking auto financing it absolutely is imperative that you get your credit history in order. In this day and age lenders are becoming more restrictive when it comes to who they will make loans to … even when it comes to bad credit loans. Therefore, you really do need to make sure that you credit score is as high as it possibly can be and that your credit report is in as good of shape as possible.

In this regard, the first step that you will want to take is to make sure everything on your credit report is accurate. Unfortunately in this day and age the majority of credit reports contain inaccurate information. Therefore, you by making sure your credit report is accurate you will be taking an important step in making sure your credit score and history is in the best position and condition possible.

You will also want to make sure that all of your current credit accounts and loans are current. Lenders will closely at the status of any outstanding financing when it comes to your own application for auto financing.

With all of this in mind, it is important that you start working on getting your credit history in order well in advance of the time that you will be applying for auto financing. You truly need to be proactive in this regard if you intend to be successful in obtaining auto financing today.

Shop Around for the Best Auto Financing Interest Rates

Keep in mind that there can be differences in the costs associated with auto financing from one lender to the next. This can include differences in the interest rate as well as in the other costs and fees associated with auto financing.

Therefore, it is in your best interest to spend a bit of time shopping around for the best rates, the best deal when it comes to auto financing. For example, even a minimal difference in the interest rate from one lender to the next can add up to thousands of dollars over the life of an auto loan.

Don’t Be Afraid to Negotiate

Finally, if you have decent credit, when it comes to auto financing you should not be afraid to negotiate. In this day and age, many lenders will be amenable to at least some negotiation on your part. Therefore, as you start to undertake the auto financing process, you do need to be prepared to do a bit of wheeling and dealing.

Bad Credit Car Loan Vs Guaranteed Auto Financing – Will You Save Money?

You’re in the market to buy a new car and that’s great. Today most everyone buying a new vehicle will need some form of auto financing and if you find your personal finances or credit are less than perfect, you can still get a very affordable car financing if you know how.

An informed car buyer is a smart car buyer. When you know your auto financing options and you have your car financing set up and approved before you talk to any sales person, you can walk into a car dealership and negotiate a better deal on your terms without feeling intimidated, regardless of your financial situation.

If you know that you have certain credit challenges, you should understand the differences between bad credit car loans and guaranteed auto financing.

Bad Credit Car Loans…

Bad Credit Car Loans typically have been available through new car dealerships on the purchase of a new car or a pre-owned certified used vehicle. The actual auto loan financing paper-work is handled at the dealership but in general, the bad credit car loan finance contract is sold off to another lender. That lender will maintain and service your loan. Loans typically have a term of 24 months up to 60 months. The downsides to a bad credit car loan are that many franchise car dealerships are not set up to arrange these type loans in-house, interest rates and cost can vary widely and limit your auto purchase choices.

Guaranteed Auto Financing…

Guaranteed Auto Financing differs from a bad credit car loan primarily in that this type financing is offered directly by smaller or independent auto facilities. Your finance contract is provided by the actual auto wholesale dealer and the loan is paid directly to the auto dealer that sold you the car. In other words, you would be financing your car purchase from the company that owns it and sold you the vehicle. Guaranteed auto financing is used for the purchase of used or pre-owned vehicles and not typically for purchasing a brand new car or truck. Loan terms are shorter than more conventional auto loans and they rarely offer terms over 36 months.

The big advantage to guaranteed auto financing is that often no credit check is required to obtain this financing. Payments are normally made weekly and sometimes in person. One disadvantage to this type of auto loan is that many car dealers providing guaranteed auto financing will never report your credit to the credit bureaus. So if you’re making payments regularly and establishing an excellent payment history, this will not be reflected in improving your personal credit profile or your credit score.

Your best approach would be to start now and see what financing options are available for you. There are excellent specialized auto financing services available online today that offer a whole range of affordable car loan programs even if you’ve been turned down for financing or you have poor credit, bad credit or other financial considerations, you’ll be surprised at how they can help you to buy a new car.

You see now that there are major differences between a bad credit car loan and guaranteed auto financing and there are other financing options besides these. Get approved for the best car loan for you first, then walk into the car dealers and negotiate on your terms.

Finance Ministry speaks against offshore ban

The Latvian parliament on February 1 passed in the final reading the legislative amendments banning companies that are registered in low-tax countries, or the so-called offshore countries, from taking part in public tenders in Latvia.

The Finance Ministry, the Procurement Monitoring Bureau and legal experts reviewed the parliament’s decision and concluded that it was inconsistent with the international law.

“One cannot impose restrictions on business activities of a company based solely on its domicile,” Reizniece-Ozola said, adding that it would be different in case of tax evasion or money laundering but the country of incorporation alone cannot be the reason for declaring a company ineligible in public tenders.

The Finance Ministry is working on a report explaining its argumentation that it will ask Latvian President Raimonds Vejonis to consider before promulgating the bill.

“If the President promulgated the law, there will be litigations because those legislative amendments amount to discriminatory treatment of companies,” the finance minister said.

Unity and the Union of Greens and Farmers support the proposal by their partner in the ruling coalition, the National Alliance, to ban offshore companies from participation in public tenders in Latvia but are concerned about the proposal’s compliance with the EU directive.

The Latvian Chamber of Industry and Commerce supports the proposal to ban offshore companies and Latvian companies controlled by offshore companies from participation in public tenders.

Finance Ministry speaks against offshore ban

The Latvian parliament on February 1 passed in the final reading the legislative amendments banning companies that are registered in low-tax countries, or the so-called offshore countries, from taking part in public tenders in Latvia.

The Finance Ministry, the Procurement Monitoring Bureau and legal experts reviewed the parliament’s decision and concluded that it was inconsistent with the international law.

“One cannot impose restrictions on business activities of a company based solely on its domicile,” Reizniece-Ozola said, adding that it would be different in case of tax evasion or money laundering but the country of incorporation alone cannot be the reason for declaring a company ineligible in public tenders.

The Finance Ministry is working on a report explaining its argumentation that it will ask Latvian President Raimonds Vejonis to consider before promulgating the bill.

“If the President promulgated the law, there will be litigations because those legislative amendments amount to discriminatory treatment of companies,” the finance minister said.

Unity and the Union of Greens and Farmers support the proposal by their partner in the ruling coalition, the National Alliance, to ban offshore companies from participation in public tenders in Latvia but are concerned about the proposal’s compliance with the EU directive.

The Latvian Chamber of Industry and Commerce supports the proposal to ban offshore companies and Latvian companies controlled by offshore companies from participation in public tenders.

Be Wiser signs new long-term premium finance deal

The new deal with Close Brothers will see the partnership extended into the 2020s

Close Brothers Premium Finance (CBPF) and Be Wiser have announced the signing of a new long-term deal.

CBPF has been the exclusive provider of insurance premium finance for the customers of Be Wiser for the past 10 years.

But now, with the signing of this new deal, CBPF will provide finance well into the 2020s.

Be Wiser chairman Mark Bower-Dyke said: “In this world of Brexit, new regulation and market instability it is reassuring to know we are partnered by, in our view, the largest and best finance provider.

“Close Brothers Premium Finance are always ahead of the curve with their ongoing innovations, their ability to see the bigger picture and the way they keep our customers’ wellbeing at the centre of their processes. We look forward to working with them over the coming years.”

Sharon Bishop, chief executive of CBPF said: “Be Wiser is one of the best-known brokers in the UK insurance landscape, and Mark is one of the leading names in the industry. We are proud to be working with him and his team, and look forward to continuing this relationship.”

Personal finance: Five ways to make the most of your savings

Working out how to make the most of your savings might not be top of your to do list right now – but it should be. Here are five easy tips to get your savings working as hard as you do.

1. Create a savings plan
You know that savings are important and perhaps you have a figure in mind of what you would like to have in retirement or how much money it is going to cost to put the children through university but you probably do not have a clearly defined finance plan in place.

Approach your plan by considering if your saving aims are short or long-term. If you’re saving for the short-term, planning a luxury holiday or buying a new car for example, you’ll want to have your money somewhere easily accessible such as in a cash ISA.

If you’re saving for a longer-term goal, to help children through university or retirement, you could consider investing in the stock market.

2. Understand investment risk
Your risk profile is the amount of risk you’re willing to take with your money and your capacity to deal with any losses. For example, if you lose some or all the money you invest, what effect would this have on your standard of living?

Every investment has some risks. Putting money in the bank means you won’t experience a fall in your investment. However, you could find that the buying power of your money reduces over time due to the impact of inflation. Putting your money in higher risk investments such as shares and property could potentially lead to higher returns over a longer period but you need to be aware of the risks involved.

3. Choose the right investment
Once you understand your level of risk start to look at your investment options. Do you want to stay safe in cash or go high risk or are you somewhere in between? The most common types of investments are cash, fixed interest, stocks and shares and property.

Cash: We’d suggest that you should have at least a rainy-day cash fund that is easily available for any unexpected expenditure such as a new boiler or if you can’t work for any reason.
Fixed interest investments: These are also known as bonds and generally pay interest for a fixed period. They are mostly considered a lower risk asset than shares.
Shares: There are different ways to invest in the stockmarkets from buying shares in individual companies through to investing in funds. If you want access to shares but don’t feel your nerves can cope with the ups and downs of the markets, you could consider a with profits fund.
Property: Bricks and mortar have been a popular form of investment although they offer no guaranteed returns.
4. Spread your risk
Consider putting your money in a range of assets so that you won’t be dependent on any one type. If there are fluctuations in the stock market and your shares don’t perform as you’d hoped, you’ve still got funds invested in a cash ISA or property for example that may give you better returns. Many funds will also spread investments across different asset classes to diversify risk.

5. Review regularly
Once you have your savings plan in place make sure you review it at least once a year. Not only will this help you to ensure your cash accounts are offering competitive interest rates but you can also review any underperforming funds.

If you’re not sure where to begin with your savings plan or want to better understand the options open to you based on your risk level talk to a financial adviser who specialises in working with GPs. They’ll be able to work through your plan with you, ensure it stays on track and that your money is working as hard as you are.

Racing Awards, Medals and Customized Gear for Runners

Running, whether it be a 5k with the family, a 10k for an extra challenge, or a marathon for the elite runners, can be a very exciting and memorable experience. Running is a very personal sport to lots of people, as it can be great exercise and can make you look and feel very refreshed. Tons of awards are given out to winners at races each year. For people organizing these racing events, finding customized and personal running gear can be difficult, as well as finding unique prizes for running champions. When orchestrating a race, you want to have a memorable competition. Medals and unique prizes can help to make the race more exciting. Participants can keep prizes as souvenirs, and remember the experience better because of a keepsake.
The most important souvenir a competitor can take home is a winning medal. Those are worn with pride, and showed to family members and friends. They are often hung on walls, or shown off where they can be seen. Of course, medals need to be personalized, unique, and specific. You cannot award a running champion with a medal that doesn’t recognize what it’s for. It is often a perfect idea to find a company that will provide you with customized prizes for winners. Often, you can ask for customized medals that include the date, the name of the race, and the name of the company sponsoring and orchestrating the event. That way, when people proudly show their winning medal to others, the people who made the event happen will receive the credit and publicity they deserve.

In addition to medals, running apparel and gear can be a great way to make the race more memorable. Unlike medals, gear is commonly worn and would be used often. Passing out swag, such as customized shirts, jackets, hats, and bags can be a great way to add to the excitement of the race. Races with their own gear are viewed as more unique, as they have customized logos and attractive designs. Shirts can be given out to families, and jackets can be sold at the finish line. Hats can be passed out before the race to keep the sun out of the athlete’s eyes. And, of course, bags can be kept forever and used for multiple occasions. Having the name and date of your race on these items can help to increase publicity and help the runners remember what a successful and memorable race it was. Customizing these mementos can help to define a great race, and will definitely help a race to be more exciting and enjoyable.