Loans - New Cars for Old
By Michael Challiner
Thinking of buying a new car? Unless you’re paying cash, presumably you’re looking for the best way to finance the car of your choice.
For people who choose to buy a new car every two or three years, personal contract purchase, or PCP, is gaining in popularity. Your car dealer or the manufacturer effectively lends you the balance of the car, after you’ve paid a deposit of 20 to 25 per cent. A fixed trade in price is promised at the end of the deal. An annual mileage limit will be agreed and as long as this isn’t exceeded you will be offered a choice of options when the contract ends.
The choices will be
1. To return the car and change to a new one.
2. To trade it in at its second hand value – this may be more than the guaranteed figure, which makes it well worth doing.
3. To keep the car, making a final payment of the outstanding balance.
Many people simply replace their car every couple of years, using the first option and keeping to the same dealer or manufacturer.
An alternative to personal contract purchasing is a simple car lease plan. An initial deposit is paid, which works out at three times the monthly lease payment. The lease payment is then made for 24 or 36 months, depending on the contract. At the end of the time you simply return the car and walk away. There are no obligations and you’re free to go ahead and choose your next vehicle without the complications of selling a second hand one.
To make a comparison on costs using the two methods shown above, if you take a vehicle costing £14,995, bought through a personal contract purchase plan from a dealer, on a 3 year plan, you would pay a deposit of £1,548. There would then be a repayment period of 36 months @ £309 per month. The deal would guarantee you £3,861 towards a new car if you were staying with the same dealership. Alternatively you could purchase the car outright for this sum and sell or use it in part exchange it towards your new car.
If you take the same vehicle on the second (lease) plan, you would make an initial payment of £969 and the monthly payment would be £323.
The other choices to consider for vehicle finance are personal loans or hire purchase. With hire purchase the loan is secured on the vehicle. Because of this, if you get behind on your repayments, the vehicle can be repossessed by the lender. Obviously, having completed the payments on the car, at the end of the period, the vehicle is yours, without any ties, limitations on mileage etc.,
Offers of low or even no-cost credit can be found. Unfortunately they’re often unavailable on the model of your choice. In common with many other manufacturers, Vauxhall have some excellent offers with several models currently being offered at 0% interest over four years. For models not in the 0% range, for example the Astra Life 1.6 16v, the offer is considerably higher and in fact doubles the interest rate which most people pay via GMAC, the company that offers loans for customers buying directly from Vauxhall.
Of course, you don’t have to go along with the manufacturers deals and can work out your own comparisons by comparing the cost of personal loans. Log on to the internet and find a broker to check out the various loans available.
In general most car manufacturers will be able to offer some good deals when it comes to finance and it’s worth finding out what’s on offer for the car of you choice. It’s always a good idea to check what the same vehicle would cost using a personal loan and weighing up the final price paid is always worthwhile.
So, whatever your choice, personal loan, hire purchase, personal contract purchase or a simple lease plan, there are plenty of ways to finance your new car. Do your sums right and there are big savings to be made.
Get great articles on Secured Loans from Secured Loans Seller
Article Source: http://EzineArticles.com/?expert=Michael_Challiner
http://EzineArticles.com/?Loans---New-Cars-for-Old&id=313567
Monday, April 30, 2007
Saturday, April 28, 2007
Vehicle Finance Loans
Fast Vehicle Loan Approvals
By Carrie Reeder
The approval time for vehicle loans varies. Each lender has different
criteria's, and will requests an assorted of documents from you. Before
approving a loan, your credit will be considered. Moreover, the auto
loan lender will confirm employment and salary. The process of getting a
final approval for a vehicle loan may take several hours. However,
there are ways to speed up the approval time.
Online Vehicle Loan Approvals
Getting approved for a vehicle loan online is the quickest way to be
approved for a new or used auto loan. Today, many people work with online
mortgage and vehicle lenders. Traditional lending companies and banks
have strict lending guidelines. Moreover, some lenders may not offer
auto loans to people with poor credit.
Using Online Auto Loan Brokers
Applying for a vehicle loan through an online auto loan broker will
provide you with a range of lenders that offer loans to people with good
and poor credit. The online approval time is instant. Within minutes of
submitting a vehicle loan application, brokers and auto loan companies
will email you with several loan offers.
Individuals with poor credit may receive offers from sub prime auto
loan lenders. These loans may have a higher interest rate. Nonetheless,
the vehicle loan can be refinanced after your credit improves. Getting
approved for a low rate auto loan is easy with good credit. To improve
your credit and the chances of getting a better rate, pay creditors on
time and reduce debt. This will help increase credit score.
Get Pre-Approved with Instant Auto Loan
If applying for a vehicle loan online, make sure to include all
necessary information. Failure to provide employment or income information may
delay the approval time. Instant vehicle loan approvals are ideal when
attempting to get pre-approved for a car loan. Before accepting a loan,
compare rates with at least three other money lenders. If you are
pre-approved for a car loan, compare the rate and terms of the loan with the
dealership's offer. This way, you get a new car and save money
throughout the duration of the loan.
See my recommended Auto
Loan Finance companies online for the lowest interest rates
possible.
Carrie Reeder is the owner of ABC
Loan
Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Fast-Vehicle-Loan-Approvals&id=108579
By Carrie Reeder
The approval time for vehicle loans varies. Each lender has different
criteria's, and will requests an assorted of documents from you. Before
approving a loan, your credit will be considered. Moreover, the auto
loan lender will confirm employment and salary. The process of getting a
final approval for a vehicle loan may take several hours. However,
there are ways to speed up the approval time.
Online Vehicle Loan Approvals
Getting approved for a vehicle loan online is the quickest way to be
approved for a new or used auto loan. Today, many people work with online
mortgage and vehicle lenders. Traditional lending companies and banks
have strict lending guidelines. Moreover, some lenders may not offer
auto loans to people with poor credit.
Using Online Auto Loan Brokers
Applying for a vehicle loan through an online auto loan broker will
provide you with a range of lenders that offer loans to people with good
and poor credit. The online approval time is instant. Within minutes of
submitting a vehicle loan application, brokers and auto loan companies
will email you with several loan offers.
Individuals with poor credit may receive offers from sub prime auto
loan lenders. These loans may have a higher interest rate. Nonetheless,
the vehicle loan can be refinanced after your credit improves. Getting
approved for a low rate auto loan is easy with good credit. To improve
your credit and the chances of getting a better rate, pay creditors on
time and reduce debt. This will help increase credit score.
Get Pre-Approved with Instant Auto Loan
If applying for a vehicle loan online, make sure to include all
necessary information. Failure to provide employment or income information may
delay the approval time. Instant vehicle loan approvals are ideal when
attempting to get pre-approved for a car loan. Before accepting a loan,
compare rates with at least three other money lenders. If you are
pre-approved for a car loan, compare the rate and terms of the loan with the
dealership's offer. This way, you get a new car and save money
throughout the duration of the loan.
See my recommended Auto
Loan Finance companies online for the lowest interest rates
possible.
Carrie Reeder is the owner of ABC
Loan
Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Fast-Vehicle-Loan-Approvals&id=108579
Friday, April 27, 2007
Vehicle Finance Loans
Fast Vehicle Loan Approvals
By Carrie Reeder
The approval time for vehicle loans varies. Each lender has different
criteria's, and will requests an assorted of documents from you. Before
approving a loan, your credit will be considered. Moreover, the auto
loan lender will confirm employment and salary. The process of getting a
final approval for a vehicle loan may take several hours. However,
there are ways to speed up the approval time.
Online Vehicle Loan Approvals
Getting approved for a vehicle loan online is the quickest way to be
approved for a new or used auto loan. Today, many people work with online
mortgage and vehicle lenders. Traditional lending companies and banks
have strict lending guidelines. Moreover, some lenders may not offer
auto loans to people with poor credit.
Using Online Auto Loan Brokers
Applying for a vehicle loan through an online auto loan broker will
provide you with a range of lenders that offer loans to people with good
and poor credit. The online approval time is instant. Within minutes of
submitting a vehicle loan application, brokers and auto loan companies
will email you with several loan offers.
Individuals with poor credit may receive offers from sub prime auto
loan lenders. These loans may have a higher interest rate. Nonetheless,
the vehicle loan can be refinanced after your credit improves. Getting
approved for a low rate auto loan is easy with good credit. To improve
your credit and the chances of getting a better rate, pay creditors on
time and reduce debt. This will help increase credit score.
Get Pre-Approved with Instant Auto Loan
If applying for a vehicle loan online, make sure to include all
necessary information. Failure to provide employment or income information may
delay the approval time. Instant vehicle loan approvals are ideal when
attempting to get pre-approved for a car loan. Before accepting a loan,
compare rates with at least three other money lenders. If you are
pre-approved for a car loan, compare the rate and terms of the loan with the
dealership's offer. This way, you get a new car and save money
throughout the duration of the loan.
See my recommended Auto
Loan Finance companies online for the lowest interest rates
possible.
Carrie Reeder is the owner of ABC
Loan
Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Fast-Vehicle-Loan-Approvals&id=108579
By Carrie Reeder
The approval time for vehicle loans varies. Each lender has different
criteria's, and will requests an assorted of documents from you. Before
approving a loan, your credit will be considered. Moreover, the auto
loan lender will confirm employment and salary. The process of getting a
final approval for a vehicle loan may take several hours. However,
there are ways to speed up the approval time.
Online Vehicle Loan Approvals
Getting approved for a vehicle loan online is the quickest way to be
approved for a new or used auto loan. Today, many people work with online
mortgage and vehicle lenders. Traditional lending companies and banks
have strict lending guidelines. Moreover, some lenders may not offer
auto loans to people with poor credit.
Using Online Auto Loan Brokers
Applying for a vehicle loan through an online auto loan broker will
provide you with a range of lenders that offer loans to people with good
and poor credit. The online approval time is instant. Within minutes of
submitting a vehicle loan application, brokers and auto loan companies
will email you with several loan offers.
Individuals with poor credit may receive offers from sub prime auto
loan lenders. These loans may have a higher interest rate. Nonetheless,
the vehicle loan can be refinanced after your credit improves. Getting
approved for a low rate auto loan is easy with good credit. To improve
your credit and the chances of getting a better rate, pay creditors on
time and reduce debt. This will help increase credit score.
Get Pre-Approved with Instant Auto Loan
If applying for a vehicle loan online, make sure to include all
necessary information. Failure to provide employment or income information may
delay the approval time. Instant vehicle loan approvals are ideal when
attempting to get pre-approved for a car loan. Before accepting a loan,
compare rates with at least three other money lenders. If you are
pre-approved for a car loan, compare the rate and terms of the loan with the
dealership's offer. This way, you get a new car and save money
throughout the duration of the loan.
See my recommended Auto
Loan Finance companies online for the lowest interest rates
possible.
Carrie Reeder is the owner of ABC
Loan
Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Fast-Vehicle-Loan-Approvals&id=108579
Thursday, April 26, 2007
Vehicle Finance Loans
New Vehicle Finance: Dealership or Your Own Bank?
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
Wednesday, April 25, 2007
Vehicle Finance Loans
New Vehicle Finance: Dealership or Your Own Bank?
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
Tuesday, April 24, 2007
Vehicle Finance Loans
Review of Youreapproved.org - Debt Reduction Product by Kevin McNabb
Do You Have Bad Credit? Don't give up!!
YoureApproved.org has been created to help those who have bad credit find the credit they deserve. Personal loans, business loans, credit cards and mortgages are all within your reach with us! No matter how bad your credit situation is, you will not find a better resource than YoureApproved.org!!
Loan Sources For Those With Bad Credit
YoureApproved.org has over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIGNERS. Home ownership is not required.
Credit Cards For Those With Bad Credit
YoureApproved.org has over 50 Banks & Companies that offer Bad Credit Unsecured Credit Cards and Merchant Cards to people with good credit, no credit, bad credit, or even a bankruptcy. - NO SECURITY DEPOSIT. Apply Online. You can get started right away!
Other Options - No Money Down!
Did you know there are many other options for people with bad credit? It is possible to receive a vehicle or home with NO money down and NO credit check guaranteed! You can also find many government resources within our members area to help you get that loan you deserve!
Even With Bankruptcy You Can Receive:
Auto Loan Financing, Personal Loan Financing, Mortgage Loans, Guaranteed Credit Cards, and much more.
How Is This Possible?
YoureApproved.org list of lenders and credit card companies are willing to give you another shot. They realize that good people can have bad credit.
Whether you have had minor problems in the past or even bankruptcy, our lenders are there to help you not only receive a loan, but also to re-establish your credit.
Are you ready to get your second chance?
Bad Credit Approved
Even If You Have:
Divorce Troubles, Slow Payments, Charge-offs, Judgments, Liens, Tax Liens, Bankruptcy, Repossessions
How Does This Work?
Step #1 - go to www.youreapproved.kmanglobalcbmall.com Step #2 - Click on #2 "Guaranteed Bad Credit Financing" Step #3 - Join YoureApproved.org Step #4 - Login To The Members Area Step #5 - Contact Our Lenders Step #6 - Receive The Cash You Need!
What are real customers saying about youreapproved.org?
"In just a few minutes after joining, we were contacting several lending companies to receive our auto loan!"
"I couldn't believe it when I found a company who would finance my vacation! This really works!"
"I highly recommend this site. The lenders really do make the loans happen. After trying, unsuccessfully for about 4 months, to find a loan, I became a member of this. Within about 2 days, I had more real offers to get my loan that I thought possible! What a wonderfull surprise, something that does what it says it will!! My funding happened just like they said it would. Thank you YoureApproved.org!"
Kevin McNabb debt.kmanglobalcbmall.com
Resource Box:
Kevin McNabb, a 24-year marketing veteran, uses CBmall which provides 15 ways to earn income on thousands of top-selling ClickBank InfoProducts by promoting one URL. Features the unique ClickBank Cash Search Engine. http:www.kmanglobalCBMall.com
About the Author
Dedicated to helping people around the world find financial freedom and prosperity.
Do You Have Bad Credit? Don't give up!!
YoureApproved.org has been created to help those who have bad credit find the credit they deserve. Personal loans, business loans, credit cards and mortgages are all within your reach with us! No matter how bad your credit situation is, you will not find a better resource than YoureApproved.org!!
Loan Sources For Those With Bad Credit
YoureApproved.org has over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIGNERS. Home ownership is not required.
Credit Cards For Those With Bad Credit
YoureApproved.org has over 50 Banks & Companies that offer Bad Credit Unsecured Credit Cards and Merchant Cards to people with good credit, no credit, bad credit, or even a bankruptcy. - NO SECURITY DEPOSIT. Apply Online. You can get started right away!
Other Options - No Money Down!
Did you know there are many other options for people with bad credit? It is possible to receive a vehicle or home with NO money down and NO credit check guaranteed! You can also find many government resources within our members area to help you get that loan you deserve!
Even With Bankruptcy You Can Receive:
Auto Loan Financing, Personal Loan Financing, Mortgage Loans, Guaranteed Credit Cards, and much more.
How Is This Possible?
YoureApproved.org list of lenders and credit card companies are willing to give you another shot. They realize that good people can have bad credit.
Whether you have had minor problems in the past or even bankruptcy, our lenders are there to help you not only receive a loan, but also to re-establish your credit.
Are you ready to get your second chance?
Bad Credit Approved
Even If You Have:
Divorce Troubles, Slow Payments, Charge-offs, Judgments, Liens, Tax Liens, Bankruptcy, Repossessions
How Does This Work?
Step #1 - go to www.youreapproved.kmanglobalcbmall.com Step #2 - Click on #2 "Guaranteed Bad Credit Financing" Step #3 - Join YoureApproved.org Step #4 - Login To The Members Area Step #5 - Contact Our Lenders Step #6 - Receive The Cash You Need!
What are real customers saying about youreapproved.org?
"In just a few minutes after joining, we were contacting several lending companies to receive our auto loan!"
"I couldn't believe it when I found a company who would finance my vacation! This really works!"
"I highly recommend this site. The lenders really do make the loans happen. After trying, unsuccessfully for about 4 months, to find a loan, I became a member of this. Within about 2 days, I had more real offers to get my loan that I thought possible! What a wonderfull surprise, something that does what it says it will!! My funding happened just like they said it would. Thank you YoureApproved.org!"
Kevin McNabb debt.kmanglobalcbmall.com
Resource Box:
Kevin McNabb, a 24-year marketing veteran, uses CBmall which provides 15 ways to earn income on thousands of top-selling ClickBank InfoProducts by promoting one URL. Features the unique ClickBank Cash Search Engine. http:www.kmanglobalCBMall.com
About the Author
Dedicated to helping people around the world find financial freedom and prosperity.
Monday, April 23, 2007
Vehicle Finance Loans
Buying Repossessed Cars - Q&A's by John Arumugam
Repo Cars for 90% Off! Seized Cars for $200! Cheap Surplus Cars! Are these claims true? Sounds like a terrific way to get a bargain car. How does it work? Are these real deals? Is there a catch? Government car auctions - In a nutshell Various federal, state, and local government and law enforcement agencies regularly seize possessions, including autos, of bad people and auction them off. Or they buy new service vehicles and auction off the old ones. These are collectively known as "government auctions." Banks and lending institutions also repossess property and automobiles from non-paying customers, and sell the goods through auctions. These auctions are real. They take place almost every day in various parts of the country. In most cases, anyone can attend and participate. And it's possible to find good deals, but most people don't know they exist. Here are some of the common Q&A's for buying repossessed cars.
Why Are The Cars So Cheap?
Every day thousands of Americans are defaulting on their new or almost new cars car loans and lease payments. Banks and other financial institutions are being forced to repossess more cars than they can store. Automobile storage is a very costly expense, and banks want to get these cars liquidated quickly so that they don't lose any more money. In fact, car dealers purchase these cars and sell them for a huge profit. You're effectively cutting out the middleman. You can get access to direct sources where the cars are being sold at prices that look unbelievable to the average car buyer
Can I Really Purchase A Car From $100?
Yes, there are cars to purchase from $100 and they are not junk vehicles. You have the option to inspect them before you purchase them. Many cars at the auctions are almost new with low miles. As an example, if the government seizes a vehicle from an illegal activity, you will have the option to purchase it for pennies on the dollar.
So Why Wouldn't Everyone Buy A Car This Way?
This is a very protected source of revenue for the majority of car dealerships and is not advertised to the general public. The simple fact is that many people don't have any idea that they can purchase cars this way so they lose money by paying highly inflated prices to car dealerships. Lots of consumers think these auctions are only available to licensed dealers because they're not advertised. Car dealerships obviously aren't going to tell you about it, but we get our members access to the direct sources where they can literally find a vehicle for pennies on the dollar.
Are There Online Auctions That Sell Seized Cars?
Absolutely! The Internet has changed the way auto auctions are done, increasing the ease of access for the public. There are a number of seized auto auctions being conducted online and you can save money right from your own home.
How Complicated Are The Bidding At The Auctions?
They're not! They 're actually a lot of fun! Just arrive at the auction early so you can get a look at the cars that will be up for sale that day. Most bids start at $100. If there are not many bidders at the auction on a given day, you can get your car for a ridiculous price! With our extensive database you won't have any problem finding these kinds of deals.
Are There Warranties For Auction Cars?
Generally, auction centers and websites offer a 90-day warranty at no cost to you. If you would prefer an extended warranty, you'll need to pay an additional small fee depending on where you are getting the car. However, many of the cars may even be covered by the original manufacturer's warranty.
Are There Any Hidden Fees To Worry About?
No. You will be responsible for standard fees like your title, registration, license, tax, etc. You will not be required to pay a luxury tax and you will not be required to pay any dealer-added fees like you would at a dealership.
Are These Vehicles Damaged?
No, they are not. These are repossessed vehicles not salvaged ones. You can inspect these vehicles before you purchase them.
Is There Financing Available?
Yes most of the auctions will have financing. They will provide you with a list of finance companies that will finance you regardless of your credit.
Where Are These Auctions Located?
They are auctions in just about every city throughout the United States.
Did you find the above Q&A on buying repossessed cars useful? Are you buying a repossessed car? Then learn a lot more about how buying a seized car at http://tinyurl.com/2eyrbl
About the Author
John Arumugam is a freelance writer and an internet business owner. Check out his website on government auctions at http://tinyurl.com/2eyrbl
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Repo Cars for 90% Off! Seized Cars for $200! Cheap Surplus Cars! Are these claims true? Sounds like a terrific way to get a bargain car. How does it work? Are these real deals? Is there a catch? Government car auctions - In a nutshell Various federal, state, and local government and law enforcement agencies regularly seize possessions, including autos, of bad people and auction them off. Or they buy new service vehicles and auction off the old ones. These are collectively known as "government auctions." Banks and lending institutions also repossess property and automobiles from non-paying customers, and sell the goods through auctions. These auctions are real. They take place almost every day in various parts of the country. In most cases, anyone can attend and participate. And it's possible to find good deals, but most people don't know they exist. Here are some of the common Q&A's for buying repossessed cars.
Why Are The Cars So Cheap?
Every day thousands of Americans are defaulting on their new or almost new cars car loans and lease payments. Banks and other financial institutions are being forced to repossess more cars than they can store. Automobile storage is a very costly expense, and banks want to get these cars liquidated quickly so that they don't lose any more money. In fact, car dealers purchase these cars and sell them for a huge profit. You're effectively cutting out the middleman. You can get access to direct sources where the cars are being sold at prices that look unbelievable to the average car buyer
Can I Really Purchase A Car From $100?
Yes, there are cars to purchase from $100 and they are not junk vehicles. You have the option to inspect them before you purchase them. Many cars at the auctions are almost new with low miles. As an example, if the government seizes a vehicle from an illegal activity, you will have the option to purchase it for pennies on the dollar.
So Why Wouldn't Everyone Buy A Car This Way?
This is a very protected source of revenue for the majority of car dealerships and is not advertised to the general public. The simple fact is that many people don't have any idea that they can purchase cars this way so they lose money by paying highly inflated prices to car dealerships. Lots of consumers think these auctions are only available to licensed dealers because they're not advertised. Car dealerships obviously aren't going to tell you about it, but we get our members access to the direct sources where they can literally find a vehicle for pennies on the dollar.
Are There Online Auctions That Sell Seized Cars?
Absolutely! The Internet has changed the way auto auctions are done, increasing the ease of access for the public. There are a number of seized auto auctions being conducted online and you can save money right from your own home.
How Complicated Are The Bidding At The Auctions?
They're not! They 're actually a lot of fun! Just arrive at the auction early so you can get a look at the cars that will be up for sale that day. Most bids start at $100. If there are not many bidders at the auction on a given day, you can get your car for a ridiculous price! With our extensive database you won't have any problem finding these kinds of deals.
Are There Warranties For Auction Cars?
Generally, auction centers and websites offer a 90-day warranty at no cost to you. If you would prefer an extended warranty, you'll need to pay an additional small fee depending on where you are getting the car. However, many of the cars may even be covered by the original manufacturer's warranty.
Are There Any Hidden Fees To Worry About?
No. You will be responsible for standard fees like your title, registration, license, tax, etc. You will not be required to pay a luxury tax and you will not be required to pay any dealer-added fees like you would at a dealership.
Are These Vehicles Damaged?
No, they are not. These are repossessed vehicles not salvaged ones. You can inspect these vehicles before you purchase them.
Is There Financing Available?
Yes most of the auctions will have financing. They will provide you with a list of finance companies that will finance you regardless of your credit.
Where Are These Auctions Located?
They are auctions in just about every city throughout the United States.
Did you find the above Q&A on buying repossessed cars useful? Are you buying a repossessed car? Then learn a lot more about how buying a seized car at http://tinyurl.com/2eyrbl
About the Author
John Arumugam is a freelance writer and an internet business owner. Check out his website on government auctions at http://tinyurl.com/2eyrbl
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Saturday, April 21, 2007
Vehicle Finance Loans
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Need A Remortgage But You've Got Poor Credit? by Andy Silk
So you need a remortgage but you're worried about your poor credit history? Well, maybe you're worrying unnecessarily.
For a start, you won't be on your own in wanting to use your mortgage as a vehicle to borrow additional money. In fact, remortgaging is one of the most common methods by which homeowners raise finance for all sorts of things.
Literally thousands of people every week enquire about a remortgage although it's true that many who first enquire will not carry on until the loan is completed.The housing market has changed quite significantly over recent years. There are a number of key reasons for this:-
- Just prior to the start of the boom, the stock market was experiencing something of a blip in performance for investors and that meant that for the rest of us, pensions began to under perform since much of the money in the pension funds was invested on the world's stock markets.
- Ordinary people and investors began to transfer their money into property which had shown lower but more reliable growth in value.
- The buy to let market emerged and more and more available housing began to be snapped by people whose only purpose was to let it out.
- The same number of first time buyers were also looking for their entry level property but were being outbid by investors as gazumping rocketed.
- A shortfall of available building land meant that the value of the land each property (including existing properties) was built on increased.
- All of the above factors helped to raise property values which in turn excited more investors enough to join in the party which fuelled still more rises in value.
Naturally, homeowners began to realise that there was a good chance that their own property had increased in value which meant that they had gained a level of equity in their bricks and mortar that simply hadn't been there 5 years earlier. Coupled with the advent of numerous TV shows relentlessly advising people how to improve the look and value of their property, and how to use their equity to achieve this, the remortgaging boom took hold.
Now, it's almost common knowledge that equity will exist in your property if you've been there for any lengthy period of time during which you have been studiously paying off your mortgage (subject to your home remaining in at least the same condition as when you purchased it). The question is, do you want to use it to finance something you've been wanting to do for ages but were unsure how, or would you prefer to leave it for a rainy day?
Remember that although history tells us that in the long term, property rarely does anything except grow in value but there have been many short term situations where property values have dropped and fallen below the current amount outstanding on the mortgage. This situation is called 'negative equity' so you must always be aware of this possibility.
What Can I Spend My Money On?
Well, there are special rules if you intend to remortgage and use the money for commercial or business purposes but as long as this is not the case, lenders are generally happy for you to use the money you borrow on anything you choose. This means that you could use the money for:-
- Home improvements, including extensions and conservatories etc
- A new car, motorbike or caravan
- School fees
- A wedding with all the trimmings
- or even to pay off existing credit to reduce your monthly outgoings by extending the term of the money you owe on secured loans, unsecured loans, credit cards and store cards etc, over the length of your remaining mortgage repayments.
There's quite a lot of choice but it's almost certain that you can think of many more reasons for borrowing via this type of loan.
It's a fairly straightforward process as well these days. Just take a few moments to complete an online enquiry form and you may well have an offer in principle within a couple of hours or so. You will need to complete an application form of course and you will need a valuation of your property so that the lender can confirm how much they can let you borrow against it's value. The whole process usually takes around 3 months and your broker will be doing an enormous amount of work and will be utilising a number of outside agencies to help them to complete their work on your behalf which means that you can just sit back and relax.
This article is free to distribute but please maintain existing links in the article. Thanks you.
About the Author
Andy Silk is FinanceGuru for FeelGoodLoans.co.uk, specialists in all types of loans and mortgages for UK homeowners , tenants and business owners.
Need A Remortgage But You've Got Poor Credit? by Andy Silk
So you need a remortgage but you're worried about your poor credit history? Well, maybe you're worrying unnecessarily.
For a start, you won't be on your own in wanting to use your mortgage as a vehicle to borrow additional money. In fact, remortgaging is one of the most common methods by which homeowners raise finance for all sorts of things.
Literally thousands of people every week enquire about a remortgage although it's true that many who first enquire will not carry on until the loan is completed.The housing market has changed quite significantly over recent years. There are a number of key reasons for this:-
- Just prior to the start of the boom, the stock market was experiencing something of a blip in performance for investors and that meant that for the rest of us, pensions began to under perform since much of the money in the pension funds was invested on the world's stock markets.
- Ordinary people and investors began to transfer their money into property which had shown lower but more reliable growth in value.
- The buy to let market emerged and more and more available housing began to be snapped by people whose only purpose was to let it out.
- The same number of first time buyers were also looking for their entry level property but were being outbid by investors as gazumping rocketed.
- A shortfall of available building land meant that the value of the land each property (including existing properties) was built on increased.
- All of the above factors helped to raise property values which in turn excited more investors enough to join in the party which fuelled still more rises in value.
Naturally, homeowners began to realise that there was a good chance that their own property had increased in value which meant that they had gained a level of equity in their bricks and mortar that simply hadn't been there 5 years earlier. Coupled with the advent of numerous TV shows relentlessly advising people how to improve the look and value of their property, and how to use their equity to achieve this, the remortgaging boom took hold.
Now, it's almost common knowledge that equity will exist in your property if you've been there for any lengthy period of time during which you have been studiously paying off your mortgage (subject to your home remaining in at least the same condition as when you purchased it). The question is, do you want to use it to finance something you've been wanting to do for ages but were unsure how, or would you prefer to leave it for a rainy day?
Remember that although history tells us that in the long term, property rarely does anything except grow in value but there have been many short term situations where property values have dropped and fallen below the current amount outstanding on the mortgage. This situation is called 'negative equity' so you must always be aware of this possibility.
What Can I Spend My Money On?
Well, there are special rules if you intend to remortgage and use the money for commercial or business purposes but as long as this is not the case, lenders are generally happy for you to use the money you borrow on anything you choose. This means that you could use the money for:-
- Home improvements, including extensions and conservatories etc
- A new car, motorbike or caravan
- School fees
- A wedding with all the trimmings
- or even to pay off existing credit to reduce your monthly outgoings by extending the term of the money you owe on secured loans, unsecured loans, credit cards and store cards etc, over the length of your remaining mortgage repayments.
There's quite a lot of choice but it's almost certain that you can think of many more reasons for borrowing via this type of loan.
It's a fairly straightforward process as well these days. Just take a few moments to complete an online enquiry form and you may well have an offer in principle within a couple of hours or so. You will need to complete an application form of course and you will need a valuation of your property so that the lender can confirm how much they can let you borrow against it's value. The whole process usually takes around 3 months and your broker will be doing an enormous amount of work and will be utilising a number of outside agencies to help them to complete their work on your behalf which means that you can just sit back and relax.
This article is free to distribute but please maintain existing links in the article. Thanks you.
About the Author
Andy Silk is FinanceGuru for FeelGoodLoans.co.uk, specialists in all types of loans and mortgages for UK homeowners , tenants and business owners.
Friday, April 20, 2007
Vehicle Finance Loans
Vehicle Loans - Save Money On Your Next Loan
By Carrie Reeder
Everyone likes to save money. Auto loans can carry significant financial burdens for many people. One way to save money is to lower the financial burden these loans carry. The best way to save money on your next auto loan is to improve your credit score. A higher credit score means a lower auto loan interest rate. There are four basic tips for raising your credit score.
Regularly check report
The first thing each and every individual should do before applying for an auto loan is get their own credit report. Checking credit reports for accuracy should occur once a year. If there are any mistakes that negatively affect your credit, corrections can take up to three months to fix. Staying on top of these mistakes will save you headache in the long run.
Reduce credit card balances
An important factor in your FICO credit score is the ratio of owed amount to credit limit. If you have over 25% of your credit limit owed, this could lower your credit score. Try to limit the use of credit cards if this is your problem.
Pay bills timely
Paying bills on time is one aspect of good credit in which most people are aware. Be sure you make timely payments on bills especially close to the time you apply for a loan. A late payment six years in the past will not affect you credit as heavily as a late payment in the present.
Pay off debt
Many credit cards offer appealing balance transfer rates. Do not fall victim to these rates around loan time. If you cancel a credit card and transfer it's balance over to another credit card, you are increasing the debt to credit limit ratio. As stated earlier, this is not a good thing. Instead of transferring debt, work on paying off that debt before applying for an auto loan.
There are many reasons why improving your credit score is so important. Saving money on auto loans is just one of the many benefits of having great credit. Improving your credit not only improves the health of your current financial situation, but sets you up for future financial success.
To view our recommended vehicle loan companies, visit this page:
Recommended Vehicle
Finance Companies Online.
Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Vehicle-Loans---Save-Money-On-Your-Next-Loan&id=87032
Here are some tips to help you save money on your next auto loan.
By Carrie Reeder
Everyone likes to save money. Auto loans can carry significant financial burdens for many people. One way to save money is to lower the financial burden these loans carry. The best way to save money on your next auto loan is to improve your credit score. A higher credit score means a lower auto loan interest rate. There are four basic tips for raising your credit score.
Regularly check report
The first thing each and every individual should do before applying for an auto loan is get their own credit report. Checking credit reports for accuracy should occur once a year. If there are any mistakes that negatively affect your credit, corrections can take up to three months to fix. Staying on top of these mistakes will save you headache in the long run.
Reduce credit card balances
An important factor in your FICO credit score is the ratio of owed amount to credit limit. If you have over 25% of your credit limit owed, this could lower your credit score. Try to limit the use of credit cards if this is your problem.
Pay bills timely
Paying bills on time is one aspect of good credit in which most people are aware. Be sure you make timely payments on bills especially close to the time you apply for a loan. A late payment six years in the past will not affect you credit as heavily as a late payment in the present.
Pay off debt
Many credit cards offer appealing balance transfer rates. Do not fall victim to these rates around loan time. If you cancel a credit card and transfer it's balance over to another credit card, you are increasing the debt to credit limit ratio. As stated earlier, this is not a good thing. Instead of transferring debt, work on paying off that debt before applying for an auto loan.
There are many reasons why improving your credit score is so important. Saving money on auto loans is just one of the many benefits of having great credit. Improving your credit not only improves the health of your current financial situation, but sets you up for future financial success.
To view our recommended vehicle loan companies, visit this page:
Recommended Vehicle
Finance Companies Online.
Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Vehicle-Loans---Save-Money-On-Your-Next-Loan&id=87032
Here are some tips to help you save money on your next auto loan.
Thursday, April 19, 2007
Vehicle Finance Loans
Lender's Get Aggressive To Help Borrowers That Are At Default Status On Their Mortgages by Dale Rogers
If the borrower has committed to staying in the property and fighting through the difficult period of pending foreclosure many lenders and their servicing agent are offering possible solutions. Early on, with mortgage lates, borrowers are being contacted with possible workout solutions to get caught up on their payments. However, many mortgage products with accelerating payments make it difficult for any mortgage borrower to recover. In the past, forbearance was the tool of choice to be utilized for a borrower to get caught up with payment arrears. For example, if a mortgage payment of $1,500/month is three months down and soon to be four, the mortgage company might take this arrearage of $1,500 x 4 = $6,000 and spread it out over say a years time and a catch up payment of $6,000/12= $500/month. The regular payment of $1,500/month needs to be made plus the $500/month in the forbearance portion for a total of $2,000/month to get caught up and avoid foreclosure. In the past, this might have worked, now however, many borrowers are being crippled with accelerating payments of the first of say an Option ARM, or a 2/28 ARM that is adjusting way up and forbearance won't do the job. Rather, in many cases, a whole new loan product has to be put in place to even have a chance of rectifying the adverse mortgage situation.
Now the "old" forbearance has been modified to become even more flexible. Mortgage companies, with the current inventory of unsold homes, do not want to foreclose and end up taking an even bigger hit when and if the home sells after foreclosure. The writing has been on the wall for many lenders in this past year, work out the loan or eat huge losses. If someone is in the home and making payments, it can soften the massive write-downs that will follow in this extremely soft market.
Things were going ok for Jim and Terri until the auto accident that put Jim out of work and laid up with a broken leg and a disc problem. What savings they had were burned through in less than a month. The auto insurance covered very little of the medical bills and Jim's insurance at work carried a sizable deductible. The biggest challenge came for their family when Jim was not able to work for what was predicted for six months. The luxury items were the first to go. Because Jim was upside down on his car that was totaled there wasn't enough insurance settlement to pay for the debt. Jim was still on the hook for the difference and monthly payments were being demanded by the auto finance company. Jim's attorney shared that there might be a chance for some type of settlement until he discovered the driver of the other car that had caused the accident was not insured due to a recently lapsed policy. The insurance carrier was not going to pay anything. Jim's attorney, a high school buddy, was going after the assets of the at fault driver but it would take some time to even begin the process. Jim and Terri had worked hard for five years to buy their first home and were just getting ahead when the auto accident occurred. With several months passing, the young couple was not able to pay even the minimum payment of their four credit cards. The mortgage payment had not been made for the past three months. The phone was now ringing off the hook for medical collections, the auto finance company and the mortgage company was now threatening to foreclose. Terri took a part time job in addition to her full time job as an office manager at a collection agency. She knew that game inside out. With two kids it was becoming very clear that bad things were under way and if something didn't happen to turn the situation around, her family would be moving back into a small apartment again with trashed credit to boot.
Fortunately, Jim and Terri's families were close by and could help out with babysitting while Terri worked. Both of their parents were of modest means and not able to offer any financial help but were happy to pitch in with the kids and some of the maintenance work around the house. Jim was flat on his back with recovery time many months down the road. Jim had the phone close to his bed and he had been screening telephone calls for bill collectors and such. On a Friday, Jim received a call from the mortgage company that held their loan and at first Jim was going to ignore it. Jim figured he had quite enough "gut calls" for the day. The caller was in the process of leaving a message on the answering machine and was going on at length over the details of a plan from the mortgage lender that would help Jim and Terri get back on their feet. In the middle of the message, Jim lifted the phone and spoke with the caller. It was a friendly voice. Jim spent almost an hour on the phone with explaining his situation and sharing the tale of woe and their streak of bad luck. The caller's name was Toby and after the conversation concluded, he suggested he would call back by Monday and would give Jim and Terri a concrete proposal to try and mediate the mortgage short fall. After Jim hung up, he could only wonder if anyone could help him out of this financial mess. Sure enough, Toby called back Monday with a proposal. Toby explained his mortgage company decided to be very proactive with customers who had fallen behind and found it in their best interest to try and bridge the gap between their current situation and possible foreclosures. Another hour was spent going over Jim and Terri's family budget just to determine the short fall and rank what items could be quickly cut to generate a better monthly cash flow. At the conclusion of the call, Toby suggested that if Jim and Terri could tighten up their budget and eliminate in the short term, cable, cell phones, eating out, sell the one remaining car that had some equity and get a transportation vehicle the bank would substantially help with the payments. This would allow Jim and Terri to bridge to a time when Jim could get back on his feet and return to work. Since the loan in question was an FHA loan, the lender was going to advance an interest free loan in the amount equal to twelve months of principal and interest payments including taxes and insurance. This was made possible by the lender making a "partial claim" to the FHA insurance fund, that is borrower funded, to help Jim and Terri get back on their feet. This was not a gift. Every penny would need to be paid back down the road. When borrowers use the FHA program they normally pay 1.5% of the mortgage amount up front called the UFMIP (Up Front Mortgage Insurance Premium) plus they pay .5% of mortgage amount spread out among monthly payments. The bulk of these insurance premiums are by and large used for foreclosure actions. Loans that are insured by FHA pay the lender the difference of the foreclosure sale and the loan balance plus costs. This can be 25% to 30%+ loss for FHA. The thinking here by FHA is that if they can extend a hand and get these folks back on their feet in say a years time, it would be saving FHA a ton of money. This proactive approach is showing positive results. Jim and Terri seized on the proposal and in time were able to work out their financial situation and Jim was able to return to work. FHA was made whole in time; the credit card companies cancelled the accounts and agreed to take smaller payments for as long as necessary to get them settled at a reduced nominal interest rate. Terri was a good negotiator. Jim's attorney was able to get a judgment and squeeze enough money out of the ticketed driver and get some funds from the uninsured motorist fund. This allowed Jim to payoff the "up side down" portion of the totaled vehicle with enough additional cash to buy an older pick up truck with the remainder monies. Terri was able to give up her part time job and the family slowly pulled themselves up by the bootstraps and they got back on their feet. The trailing medical bills were negotiated down after several over charges were discovered and a low monthly payment was set up. All in all, Jim and Terri considered themselves lucky in that the mortgage company stepped forward to offer a workable plan to save their home. It could have gone the other way very easily.
Lenders have recognized that the "bottom line strategy" of trying to work with borrowers who are in trouble pays off. From specially trained customer service representatives, like Toby, who are engaged counselors and not just adversaries. A customer service representative armed with tools like forbearance plans, to reworking old loans to new loans, to FHA, Fannie Mae, Freddie Mac, all pitching in to help resolve and mitigate any salvageable financial situations. The borrowers will need to make an effort to meet the lender half way and do what they need to do to keep their home. For any homeowner, financial disaster can be just a car crash away. Fortunately, lenders are now stepping up their efforts to help families in trouble with paying their mortgage. Again, bottom line, the lender and the borrower can win.
Dale Rogers http://www.brokencredit.com
About the Author
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.
www.BrokenCredit.com
If the borrower has committed to staying in the property and fighting through the difficult period of pending foreclosure many lenders and their servicing agent are offering possible solutions. Early on, with mortgage lates, borrowers are being contacted with possible workout solutions to get caught up on their payments. However, many mortgage products with accelerating payments make it difficult for any mortgage borrower to recover. In the past, forbearance was the tool of choice to be utilized for a borrower to get caught up with payment arrears. For example, if a mortgage payment of $1,500/month is three months down and soon to be four, the mortgage company might take this arrearage of $1,500 x 4 = $6,000 and spread it out over say a years time and a catch up payment of $6,000/12= $500/month. The regular payment of $1,500/month needs to be made plus the $500/month in the forbearance portion for a total of $2,000/month to get caught up and avoid foreclosure. In the past, this might have worked, now however, many borrowers are being crippled with accelerating payments of the first of say an Option ARM, or a 2/28 ARM that is adjusting way up and forbearance won't do the job. Rather, in many cases, a whole new loan product has to be put in place to even have a chance of rectifying the adverse mortgage situation.
Now the "old" forbearance has been modified to become even more flexible. Mortgage companies, with the current inventory of unsold homes, do not want to foreclose and end up taking an even bigger hit when and if the home sells after foreclosure. The writing has been on the wall for many lenders in this past year, work out the loan or eat huge losses. If someone is in the home and making payments, it can soften the massive write-downs that will follow in this extremely soft market.
Things were going ok for Jim and Terri until the auto accident that put Jim out of work and laid up with a broken leg and a disc problem. What savings they had were burned through in less than a month. The auto insurance covered very little of the medical bills and Jim's insurance at work carried a sizable deductible. The biggest challenge came for their family when Jim was not able to work for what was predicted for six months. The luxury items were the first to go. Because Jim was upside down on his car that was totaled there wasn't enough insurance settlement to pay for the debt. Jim was still on the hook for the difference and monthly payments were being demanded by the auto finance company. Jim's attorney shared that there might be a chance for some type of settlement until he discovered the driver of the other car that had caused the accident was not insured due to a recently lapsed policy. The insurance carrier was not going to pay anything. Jim's attorney, a high school buddy, was going after the assets of the at fault driver but it would take some time to even begin the process. Jim and Terri had worked hard for five years to buy their first home and were just getting ahead when the auto accident occurred. With several months passing, the young couple was not able to pay even the minimum payment of their four credit cards. The mortgage payment had not been made for the past three months. The phone was now ringing off the hook for medical collections, the auto finance company and the mortgage company was now threatening to foreclose. Terri took a part time job in addition to her full time job as an office manager at a collection agency. She knew that game inside out. With two kids it was becoming very clear that bad things were under way and if something didn't happen to turn the situation around, her family would be moving back into a small apartment again with trashed credit to boot.
Fortunately, Jim and Terri's families were close by and could help out with babysitting while Terri worked. Both of their parents were of modest means and not able to offer any financial help but were happy to pitch in with the kids and some of the maintenance work around the house. Jim was flat on his back with recovery time many months down the road. Jim had the phone close to his bed and he had been screening telephone calls for bill collectors and such. On a Friday, Jim received a call from the mortgage company that held their loan and at first Jim was going to ignore it. Jim figured he had quite enough "gut calls" for the day. The caller was in the process of leaving a message on the answering machine and was going on at length over the details of a plan from the mortgage lender that would help Jim and Terri get back on their feet. In the middle of the message, Jim lifted the phone and spoke with the caller. It was a friendly voice. Jim spent almost an hour on the phone with explaining his situation and sharing the tale of woe and their streak of bad luck. The caller's name was Toby and after the conversation concluded, he suggested he would call back by Monday and would give Jim and Terri a concrete proposal to try and mediate the mortgage short fall. After Jim hung up, he could only wonder if anyone could help him out of this financial mess. Sure enough, Toby called back Monday with a proposal. Toby explained his mortgage company decided to be very proactive with customers who had fallen behind and found it in their best interest to try and bridge the gap between their current situation and possible foreclosures. Another hour was spent going over Jim and Terri's family budget just to determine the short fall and rank what items could be quickly cut to generate a better monthly cash flow. At the conclusion of the call, Toby suggested that if Jim and Terri could tighten up their budget and eliminate in the short term, cable, cell phones, eating out, sell the one remaining car that had some equity and get a transportation vehicle the bank would substantially help with the payments. This would allow Jim and Terri to bridge to a time when Jim could get back on his feet and return to work. Since the loan in question was an FHA loan, the lender was going to advance an interest free loan in the amount equal to twelve months of principal and interest payments including taxes and insurance. This was made possible by the lender making a "partial claim" to the FHA insurance fund, that is borrower funded, to help Jim and Terri get back on their feet. This was not a gift. Every penny would need to be paid back down the road. When borrowers use the FHA program they normally pay 1.5% of the mortgage amount up front called the UFMIP (Up Front Mortgage Insurance Premium) plus they pay .5% of mortgage amount spread out among monthly payments. The bulk of these insurance premiums are by and large used for foreclosure actions. Loans that are insured by FHA pay the lender the difference of the foreclosure sale and the loan balance plus costs. This can be 25% to 30%+ loss for FHA. The thinking here by FHA is that if they can extend a hand and get these folks back on their feet in say a years time, it would be saving FHA a ton of money. This proactive approach is showing positive results. Jim and Terri seized on the proposal and in time were able to work out their financial situation and Jim was able to return to work. FHA was made whole in time; the credit card companies cancelled the accounts and agreed to take smaller payments for as long as necessary to get them settled at a reduced nominal interest rate. Terri was a good negotiator. Jim's attorney was able to get a judgment and squeeze enough money out of the ticketed driver and get some funds from the uninsured motorist fund. This allowed Jim to payoff the "up side down" portion of the totaled vehicle with enough additional cash to buy an older pick up truck with the remainder monies. Terri was able to give up her part time job and the family slowly pulled themselves up by the bootstraps and they got back on their feet. The trailing medical bills were negotiated down after several over charges were discovered and a low monthly payment was set up. All in all, Jim and Terri considered themselves lucky in that the mortgage company stepped forward to offer a workable plan to save their home. It could have gone the other way very easily.
Lenders have recognized that the "bottom line strategy" of trying to work with borrowers who are in trouble pays off. From specially trained customer service representatives, like Toby, who are engaged counselors and not just adversaries. A customer service representative armed with tools like forbearance plans, to reworking old loans to new loans, to FHA, Fannie Mae, Freddie Mac, all pitching in to help resolve and mitigate any salvageable financial situations. The borrowers will need to make an effort to meet the lender half way and do what they need to do to keep their home. For any homeowner, financial disaster can be just a car crash away. Fortunately, lenders are now stepping up their efforts to help families in trouble with paying their mortgage. Again, bottom line, the lender and the borrower can win.
Dale Rogers http://www.brokencredit.com
About the Author
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.
www.BrokenCredit.com
Wednesday, April 18, 2007
Vehicle Finance Loans
Alternative Venture Finance: Federal Grants And Loans
By Dave Lavinsky
While most companies seeking venture capital initially think
about angel investors and venture capitalists, a large
alternative source of financing is federal grants and loans.
The two largest federal grant programs are run by the Small
Business Administration (SBA), and by Small Business Investment
Companies (SBICs).
An SBA loan, regardless of whether it is a direct loan from the
SBA, or, as is more common, a bank loan guaranteed by the SBA,
is essentially a bank loan. The benefit of it versus a
traditional bank loan is the rate. SBA rates are typically much
less than traditional business loan rates.
In most cases, in a guaranteed SBA bank loan, the SBA
guarantees 90 percent of the loan will be repaid to the bank.
As such, banks are at much less risk than in most other loans,
and are a bit more flexible with regards to who they offer
these loans. However, the SBA usually requires the founders of
the company to personally guarantee the loans, which makes them
risky should the venture collapse.
Alternatively, Small Business Investment Companies (SBICs) are
privately organized corporations that are licensed and
regulated by the SBA. Small or emerging businesses which
qualify for assistance from the SBIC program can receive equity
capital and/or long-term loans from these companies.
Essentially, these companies provide their own capital, which
is supplemented by federal funds, to the companies they fund.
Interestingly, U.S. taxpayers benefits from the SBIC program as
tax revenues generated from successful SBIC investments have
more than covered the cost of the program. Likewise the program
has created hundreds of thousands of jobs.
In summary, SBA and SBIC financing are viable alternatives to
financing from angel investors and venture capitalists and
should be considered in the capital raising process. Similarly
to angel and VC financing, companies seeking SBA and SBIC
financing need a strong management team and value proposition,
and a highly professional and compelling business plan in order
to raise the capital they need.
About the Author: Growthink Business Plans has developed over
200 business plans for clients that have collectively raised
over $750 million in financing, launched numerous new product
and service lines and gained competitive advantage and market
share. For more information go to http://www.growthink.com or
http://www.gtsecurities.net
Source: http://www.isnare.com
By Dave Lavinsky
While most companies seeking venture capital initially think
about angel investors and venture capitalists, a large
alternative source of financing is federal grants and loans.
The two largest federal grant programs are run by the Small
Business Administration (SBA), and by Small Business Investment
Companies (SBICs).
An SBA loan, regardless of whether it is a direct loan from the
SBA, or, as is more common, a bank loan guaranteed by the SBA,
is essentially a bank loan. The benefit of it versus a
traditional bank loan is the rate. SBA rates are typically much
less than traditional business loan rates.
In most cases, in a guaranteed SBA bank loan, the SBA
guarantees 90 percent of the loan will be repaid to the bank.
As such, banks are at much less risk than in most other loans,
and are a bit more flexible with regards to who they offer
these loans. However, the SBA usually requires the founders of
the company to personally guarantee the loans, which makes them
risky should the venture collapse.
Alternatively, Small Business Investment Companies (SBICs) are
privately organized corporations that are licensed and
regulated by the SBA. Small or emerging businesses which
qualify for assistance from the SBIC program can receive equity
capital and/or long-term loans from these companies.
Essentially, these companies provide their own capital, which
is supplemented by federal funds, to the companies they fund.
Interestingly, U.S. taxpayers benefits from the SBIC program as
tax revenues generated from successful SBIC investments have
more than covered the cost of the program. Likewise the program
has created hundreds of thousands of jobs.
In summary, SBA and SBIC financing are viable alternatives to
financing from angel investors and venture capitalists and
should be considered in the capital raising process. Similarly
to angel and VC financing, companies seeking SBA and SBIC
financing need a strong management team and value proposition,
and a highly professional and compelling business plan in order
to raise the capital they need.
About the Author: Growthink Business Plans has developed over
200 business plans for clients that have collectively raised
over $750 million in financing, launched numerous new product
and service lines and gained competitive advantage and market
share. For more information go to http://www.growthink.com or
http://www.gtsecurities.net
Source: http://www.isnare.com
Tuesday, April 17, 2007
Vehicle Finance Loans
Want A Cheaper Finance For Your Vehicle? Try Secured Automobile
Loans.
By Maria Smith
The usual modus operandi in most automobile purchases is as
follows.
Step 1: Recognize the urge for an automobile.
Step 2: Check the bank balances.
Step 3: Head for the purchase provided the second step gives a
positive result.
Step 4: If the second step gives a negative result, take an
automobile loan.
This will be rated as the most logical sequence of events by
most people unless they acknowledge the fact that they can save
hundreds of pounds by planning the automobile loan in a more
systematic manner.
Recognizing the need for an automobile:
The first step will always be to concede that there actually is
a need for a car or any other vehicle. The prices of vehicles
have heavily come down. But they still continue to be treated
as a luxury item. The desire to have a vehicle will always be
there. People wrongly try to push desires as a need. Need
emerges because of a difficulty being faced by the borrower.
Only if a need is recognized must one go to the second process.
Check for capability:
The automobile certainly would not come for free. One must have
the capability to repay the value of the vehicle purchased. Fat
bank balances are not always required. Taking a secured
automobile loan allows investment in more productive uses while
making you the proud owner of a vehicle.
There is no need to get disheartened if you do not fulfill the
qualifications. Every lender has a different lending policy.
Given the numerous lenders offering mortgages, your financial
condition is bound to match some or other lender’s products.
Stretching ones finances too much will lead to a breakdown in
the financial condition. The vehicle is not the only
expenditure on your part. There are many more expenditures to
be borne by the customer. If the sum invested in the vehicle
exceeds, the other expenditures will have to be curbed.
Alternately, this would have an adverse effect on savings.
Therefore, the amount of secured loan must be decided with
care. Once inside the showroom, almost every vehicle looks
good. But one must vote for the vehicle that most suits his
budget.
The loans process:
If you thought there is little to an automobile loan after
making the decision to take it, then you are wrong. You are
still halfway in the loans process. The implementation part is
still remaining.
The first step in the loans process will be finding a suitable
lender. Though there is a single lender who offers automobile
loan, it is difficult to find the lender from the crowd of
lenders. The various lenders chosen have to pass through
various stages of screening to prove that they can provide the
loan at the best of terms. Online search significantly
simplifies the process of search. No obligation loan quotes
offered by the lenders too are of great help in the search
process.
Once the lender is selected, the negotiations on the loans
begin. Details of the loan like the term of repayment, interest
charged, actual cost of the loan, amount of monthly or quarterly
repayments etc. are to be decided in this stage. This is the
most important step because this will decide how the loan fares
in the long run.
The borrowers are advised to tread cautiously in this stage.
The terms and conditions of the lenders must be read carefully.
Particular attention must be given to clauses which rule out
early or premature repayment with a penalty. All queries
regarding the loan must be immediately clarified to prevent
problems from emerging in the future.
The days ahead….
Has the loans process sucked most of your energy? You can rest
now because the days ahead are a smoother ride. You finally get
the resources to purchase the vehicle of your choice. Secured
automobile loans give borrowers a better bargaining power.
Regular repayments to the automobile loan can further assure a
smoother future. Taking a loan protection can be helpful in
full and final settlement of the secured automobile loans.
About the Author: Maria Smith has not been writing articles
from the beginning. But the increase in perplexing loans
information has urged her to write on different loans types. To
find a Loans UK,secured loans,unsecured loans,Debt consolidation
at low interest that best suits your needs visit
http://www.loansfiesta.co.uk
Source: http://www.isnare.com
Loans.
By Maria Smith
The usual modus operandi in most automobile purchases is as
follows.
Step 1: Recognize the urge for an automobile.
Step 2: Check the bank balances.
Step 3: Head for the purchase provided the second step gives a
positive result.
Step 4: If the second step gives a negative result, take an
automobile loan.
This will be rated as the most logical sequence of events by
most people unless they acknowledge the fact that they can save
hundreds of pounds by planning the automobile loan in a more
systematic manner.
Recognizing the need for an automobile:
The first step will always be to concede that there actually is
a need for a car or any other vehicle. The prices of vehicles
have heavily come down. But they still continue to be treated
as a luxury item. The desire to have a vehicle will always be
there. People wrongly try to push desires as a need. Need
emerges because of a difficulty being faced by the borrower.
Only if a need is recognized must one go to the second process.
Check for capability:
The automobile certainly would not come for free. One must have
the capability to repay the value of the vehicle purchased. Fat
bank balances are not always required. Taking a secured
automobile loan allows investment in more productive uses while
making you the proud owner of a vehicle.
There is no need to get disheartened if you do not fulfill the
qualifications. Every lender has a different lending policy.
Given the numerous lenders offering mortgages, your financial
condition is bound to match some or other lender’s products.
Stretching ones finances too much will lead to a breakdown in
the financial condition. The vehicle is not the only
expenditure on your part. There are many more expenditures to
be borne by the customer. If the sum invested in the vehicle
exceeds, the other expenditures will have to be curbed.
Alternately, this would have an adverse effect on savings.
Therefore, the amount of secured loan must be decided with
care. Once inside the showroom, almost every vehicle looks
good. But one must vote for the vehicle that most suits his
budget.
The loans process:
If you thought there is little to an automobile loan after
making the decision to take it, then you are wrong. You are
still halfway in the loans process. The implementation part is
still remaining.
The first step in the loans process will be finding a suitable
lender. Though there is a single lender who offers automobile
loan, it is difficult to find the lender from the crowd of
lenders. The various lenders chosen have to pass through
various stages of screening to prove that they can provide the
loan at the best of terms. Online search significantly
simplifies the process of search. No obligation loan quotes
offered by the lenders too are of great help in the search
process.
Once the lender is selected, the negotiations on the loans
begin. Details of the loan like the term of repayment, interest
charged, actual cost of the loan, amount of monthly or quarterly
repayments etc. are to be decided in this stage. This is the
most important step because this will decide how the loan fares
in the long run.
The borrowers are advised to tread cautiously in this stage.
The terms and conditions of the lenders must be read carefully.
Particular attention must be given to clauses which rule out
early or premature repayment with a penalty. All queries
regarding the loan must be immediately clarified to prevent
problems from emerging in the future.
The days ahead….
Has the loans process sucked most of your energy? You can rest
now because the days ahead are a smoother ride. You finally get
the resources to purchase the vehicle of your choice. Secured
automobile loans give borrowers a better bargaining power.
Regular repayments to the automobile loan can further assure a
smoother future. Taking a loan protection can be helpful in
full and final settlement of the secured automobile loans.
About the Author: Maria Smith has not been writing articles
from the beginning. But the increase in perplexing loans
information has urged her to write on different loans types. To
find a Loans UK,secured loans,unsecured loans,Debt consolidation
at low interest that best suits your needs visit
http://www.loansfiesta.co.uk
Source: http://www.isnare.com
Monday, April 16, 2007
Vehicle Finance Loans
Low Interest Vehicle Loan - Getting Approved after Repossession
By Carrie Reeder
Getting approved for a vehicle loan immediately following a
repossession is possible. However, your odds of receiving a good interest rate are
slim. Credit plays a huge role in determining the interest rate on
automobiles, loans, mortgages, etc. If you have a major credit blemish, low
interest rates are less attainable. Here are a few tips to help you get
approved for a low rate vehicle loan.
Increase Your Credit Score Before Applying for Loan
If your credit score is extremely low, applying for a vehicle loan
following a repossession is not the smartest move. Of course, cars are
practically a necessity. If you are unable to pay for a new or used car
with cash, your only option is financing the vehicle. If possible, wait at
least six months after a repossession before financing a car.
During this wait period, attempt to improve your credit. When a
creditor reviews your credit report and notices a repossession, they will
either deny your application or give you a ridiculously high APR.
To reduce the chances of this occurring, try and open new credit
accounts. Next, maintain these accounts. Pay monthly minimums on time. The
effort you put forth will reflect in your credit report. As you establish
a great payment history, your score will increase.
Carefully Select Vehicle Loan Lenders
When choosing a lender for your new or used vehicle loan, do not accept
the very first offer you receive. In order to get the lowest rate
following a repossession, you must received quotes from several lenders.
Sub prime auto loan lenders are your best option. These lenders give
loans to people with poor credit. In some instances, the interest rate
offered by these lenders is surprisingly low. To obtain quotes, submit
online applications. This method is the easiest and fastest.
After receiving quotes from various lenders, compare their offers and
terms. If you are not a good candidate for a low interest auto loan, you
may have to settle on a higher percentage auto loan. After six months,
refinance the loan for a lower rate.
See my recommended Bad
Credit Car Loan companies.
Carrie Reeder is the owner of ABC
Loan
Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Low-Interest-Vehicle-Loan---Getting-Approved-after-Repossession&id=113662
By Carrie Reeder
Getting approved for a vehicle loan immediately following a
repossession is possible. However, your odds of receiving a good interest rate are
slim. Credit plays a huge role in determining the interest rate on
automobiles, loans, mortgages, etc. If you have a major credit blemish, low
interest rates are less attainable. Here are a few tips to help you get
approved for a low rate vehicle loan.
Increase Your Credit Score Before Applying for Loan
If your credit score is extremely low, applying for a vehicle loan
following a repossession is not the smartest move. Of course, cars are
practically a necessity. If you are unable to pay for a new or used car
with cash, your only option is financing the vehicle. If possible, wait at
least six months after a repossession before financing a car.
During this wait period, attempt to improve your credit. When a
creditor reviews your credit report and notices a repossession, they will
either deny your application or give you a ridiculously high APR.
To reduce the chances of this occurring, try and open new credit
accounts. Next, maintain these accounts. Pay monthly minimums on time. The
effort you put forth will reflect in your credit report. As you establish
a great payment history, your score will increase.
Carefully Select Vehicle Loan Lenders
When choosing a lender for your new or used vehicle loan, do not accept
the very first offer you receive. In order to get the lowest rate
following a repossession, you must received quotes from several lenders.
Sub prime auto loan lenders are your best option. These lenders give
loans to people with poor credit. In some instances, the interest rate
offered by these lenders is surprisingly low. To obtain quotes, submit
online applications. This method is the easiest and fastest.
After receiving quotes from various lenders, compare their offers and
terms. If you are not a good candidate for a low interest auto loan, you
may have to settle on a higher percentage auto loan. After six months,
refinance the loan for a lower rate.
See my recommended Bad
Credit Car Loan companies.
Carrie Reeder is the owner of ABC
Loan
Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Low-Interest-Vehicle-Loan---Getting-Approved-after-Repossession&id=113662
Saturday, April 14, 2007
Vehicle Finance Loans
Inexpensive Motor Vehicle Loans Based On Equity
By Kate Ross
Motor vehicle loans, being not so common, have little flexibility in terms of monthly installments’ amounts and thus, many think that if they can’t afford the monthly payments they can’t afford to purchase their dreamed vehicle. But truth is that there are other sources of finance with much better terms.
Motor Vehicle loans based on equity can provide you with all the finance you need and due to the benefits real estate equity provides you can obtain more advantageous loan terms than with regular motor vehicle loans whether they are secured or unsecured. Thus, if you need finance and can’t afford the monthly payments of regular motor vehicle loans, consider loans based on equity as an alternative.
Home Ownership Is A Must
Equity is the difference between the market price of a property and the amount of debt guaranteed by it. Motor Vehicles also have equity when a motor vehicle loan balance is lower than the market price of the vehicle. However, loans based on the available equity of a motor vehicle are not common and when we refer to loans based on equity we mean home equity.
Thus, in order to obtain loans for purchasing motor vehicles based on equity, you’ll need to be a home owner. This limits these loan niche a bit, but yet, those who qualify, can get real great terms on their loans and finance the purchase of their motor vehicles at a really low cost compared to unsecured motor vehicle loans and even to secured motor vehicle loans.
Benefits Of Loans Based On Equity
Loans based on equity carry many benefits compared to loans that are not secured. For starters, getting approved for a loan based on equity is a lot easier. There are fewer credit and income requirements for qualifying and you can also get significantly more advantageous terms on your motor vehicle loan this way.
The interest rates charged for loans based on equity are as low as half the rate of unsecured loan or even more. The repayment programs of these loans are significantly more flexible and you can extend them in order to obtain lower monthly payments so as to fit your budget. And last, but not least, these loans provide higher loan amounts which can let you purchase more expensive motor vehicles without having to resort to leasing contracts or other financial products that in the long run end up being more onerous.
The Cheap Financing Solution
Motor Vehicle Loans based on equity are the perfect solution that combines inexpensive financing with higher loan amounts, both characteristics that come very handy when you want to purchase a motor vehicle. In order to find a lender you can search for motor vehicle loans or home equity loans as not all motor vehicle lenders deal with loans secured with home equity. However, with home equity loans the money can be used for whatever purpose, including motor vehicle purchases.
---
Kate Ross is a professional consultant at Speedybadcreditloans.com.
You can click here to read more useful articles on this and other financial issues.
Article Source: http://EzineArticles.com/?expert=Kate_Ross
http://EzineArticles.com/?Inexpensive-Motor-Vehicle-Loans-Based-On-Equity&id=482882
Motor vehicle loans can be really expensive especially for those that don't count with a good credit score or history or those who do not have a good available income to afford the monthly payments.
By Kate Ross
Motor vehicle loans, being not so common, have little flexibility in terms of monthly installments’ amounts and thus, many think that if they can’t afford the monthly payments they can’t afford to purchase their dreamed vehicle. But truth is that there are other sources of finance with much better terms.
Motor Vehicle loans based on equity can provide you with all the finance you need and due to the benefits real estate equity provides you can obtain more advantageous loan terms than with regular motor vehicle loans whether they are secured or unsecured. Thus, if you need finance and can’t afford the monthly payments of regular motor vehicle loans, consider loans based on equity as an alternative.
Home Ownership Is A Must
Equity is the difference between the market price of a property and the amount of debt guaranteed by it. Motor Vehicles also have equity when a motor vehicle loan balance is lower than the market price of the vehicle. However, loans based on the available equity of a motor vehicle are not common and when we refer to loans based on equity we mean home equity.
Thus, in order to obtain loans for purchasing motor vehicles based on equity, you’ll need to be a home owner. This limits these loan niche a bit, but yet, those who qualify, can get real great terms on their loans and finance the purchase of their motor vehicles at a really low cost compared to unsecured motor vehicle loans and even to secured motor vehicle loans.
Benefits Of Loans Based On Equity
Loans based on equity carry many benefits compared to loans that are not secured. For starters, getting approved for a loan based on equity is a lot easier. There are fewer credit and income requirements for qualifying and you can also get significantly more advantageous terms on your motor vehicle loan this way.
The interest rates charged for loans based on equity are as low as half the rate of unsecured loan or even more. The repayment programs of these loans are significantly more flexible and you can extend them in order to obtain lower monthly payments so as to fit your budget. And last, but not least, these loans provide higher loan amounts which can let you purchase more expensive motor vehicles without having to resort to leasing contracts or other financial products that in the long run end up being more onerous.
The Cheap Financing Solution
Motor Vehicle Loans based on equity are the perfect solution that combines inexpensive financing with higher loan amounts, both characteristics that come very handy when you want to purchase a motor vehicle. In order to find a lender you can search for motor vehicle loans or home equity loans as not all motor vehicle lenders deal with loans secured with home equity. However, with home equity loans the money can be used for whatever purpose, including motor vehicle purchases.
---
Kate Ross is a professional consultant at Speedybadcreditloans.com.
You can click here to read more useful articles on this and other financial issues.
Article Source: http://EzineArticles.com/?expert=Kate_Ross
http://EzineArticles.com/?Inexpensive-Motor-Vehicle-Loans-Based-On-Equity&id=482882
Motor vehicle loans can be really expensive especially for those that don't count with a good credit score or history or those who do not have a good available income to afford the monthly payments.
Friday, April 13, 2007
Vehicle Finance Loans
Drive Your Vehicle to Your Home with Secured Auto Loans
By Maria Smith
Ever increasing expenditures have made it all the more difficult to cope with the every day expenses. In such situation, materializing ones dreams seems to be an impossible thing. For instance, if you want to fulfil your long cherished dream of owning a car, but, are suffering from sheer lack of funds. What will you do in the hour of need, whom will you ask for help? An obvious choice can be applying for secured auto loans.
Here we are specifically speaking about secured auto loans because of its more than one advantage. A loan is a financial obligation and you will have to repay it, in any case. All you can do is, try to keep the debt amount, as low as, possible. For that purpose, you can make use of your existing resources. There is no dearth of lenders offering secured auto loans at nominal rates. Let us discuss all the relevant detail about secured auto loans.
Secured auto loans are available to the individuals, who are short of funds while purchasing some vehicle. Due to technocratic advancement you can apply for online secured auto loans. However incredible it may sound, but, it is true you can apply for secured auto loans and avail its innumerable benefits. Online secured auto loans, work exactly like offline lenders. And you also need to work in the same manner. You will have to compare and contrast the various quotes offered by different lenders before arriving at any decision.
Always make sure, you borrow up to a limit, which you require and can repay easily. Otherwise, you may end up losing your very own car, as, that very same car serves as collateral to secure the loan amount.
With proper search, people with bad credit can also find secured auto loans. They may get liable to higher rate of interest, but, it should not be a trouble at all. So apply for secured auto loans and materialise your long cherished dream.
Maria Smith has not been writing articles from the beginning. To find a secured auto loans, secured business loans, secured home improvement loans in uk, education loans that best suits your needs visit http://www.loansfiesta.co.uk
Article Source: http://EzineArticles.com/?expert=Maria_Smith
http://EzineArticles.com/?Drive-Your-Vehicle-to-Your-Home-with-Secured-Auto-Loans&id=513192
The article discusses all about secured auto loans. What are secured auto loans, where and how you should search to find the best rates? For all this and lots more, read the article.
By Maria Smith
Ever increasing expenditures have made it all the more difficult to cope with the every day expenses. In such situation, materializing ones dreams seems to be an impossible thing. For instance, if you want to fulfil your long cherished dream of owning a car, but, are suffering from sheer lack of funds. What will you do in the hour of need, whom will you ask for help? An obvious choice can be applying for secured auto loans.
Here we are specifically speaking about secured auto loans because of its more than one advantage. A loan is a financial obligation and you will have to repay it, in any case. All you can do is, try to keep the debt amount, as low as, possible. For that purpose, you can make use of your existing resources. There is no dearth of lenders offering secured auto loans at nominal rates. Let us discuss all the relevant detail about secured auto loans.
Secured auto loans are available to the individuals, who are short of funds while purchasing some vehicle. Due to technocratic advancement you can apply for online secured auto loans. However incredible it may sound, but, it is true you can apply for secured auto loans and avail its innumerable benefits. Online secured auto loans, work exactly like offline lenders. And you also need to work in the same manner. You will have to compare and contrast the various quotes offered by different lenders before arriving at any decision.
Always make sure, you borrow up to a limit, which you require and can repay easily. Otherwise, you may end up losing your very own car, as, that very same car serves as collateral to secure the loan amount.
With proper search, people with bad credit can also find secured auto loans. They may get liable to higher rate of interest, but, it should not be a trouble at all. So apply for secured auto loans and materialise your long cherished dream.
Maria Smith has not been writing articles from the beginning. To find a secured auto loans, secured business loans, secured home improvement loans in uk, education loans that best suits your needs visit http://www.loansfiesta.co.uk
Article Source: http://EzineArticles.com/?expert=Maria_Smith
http://EzineArticles.com/?Drive-Your-Vehicle-to-Your-Home-with-Secured-Auto-Loans&id=513192
The article discusses all about secured auto loans. What are secured auto loans, where and how you should search to find the best rates? For all this and lots more, read the article.
Thursday, April 12, 2007
Vehicle Finance Loans
Drive Your Vehicle to Your Home with Secured Auto Loans
By Maria Smith
Ever increasing expenditures have made it all the more difficult to cope with the every day expenses. In such situation, materializing ones dreams seems to be an impossible thing. For instance, if you want to fulfil your long cherished dream of owning a car, but, are suffering from sheer lack of funds. What will you do in the hour of need, whom will you ask for help? An obvious choice can be applying for secured auto loans.
Here we are specifically speaking about secured auto loans because of its more than one advantage. A loan is a financial obligation and you will have to repay it, in any case. All you can do is, try to keep the debt amount, as low as, possible. For that purpose, you can make use of your existing resources. There is no dearth of lenders offering secured auto loans at nominal rates. Let us discuss all the relevant detail about secured auto loans.
Secured auto loans are available to the individuals, who are short of funds while purchasing some vehicle. Due to technocratic advancement you can apply for online secured auto loans. However incredible it may sound, but, it is true you can apply for secured auto loans and avail its innumerable benefits. Online secured auto loans, work exactly like offline lenders. And you also need to work in the same manner. You will have to compare and contrast the various quotes offered by different lenders before arriving at any decision.
Always make sure, you borrow up to a limit, which you require and can repay easily. Otherwise, you may end up losing your very own car, as, that very same car serves as collateral to secure the loan amount.
With proper search, people with bad credit can also find secured auto loans. They may get liable to higher rate of interest, but, it should not be a trouble at all. So apply for secured auto loans and materialise your long cherished dream.
Maria Smith has not been writing articles from the beginning. To find a secured auto loans, secured business loans, secured home improvement loans in uk, education loans that best suits your needs visit http://www.loansfiesta.co.uk
Article Source: http://EzineArticles.com/?expert=Maria_Smith
http://EzineArticles.com/?Drive-Your-Vehicle-to-Your-Home-with-Secured-Auto-Loans&id=513192
By Maria Smith
Ever increasing expenditures have made it all the more difficult to cope with the every day expenses. In such situation, materializing ones dreams seems to be an impossible thing. For instance, if you want to fulfil your long cherished dream of owning a car, but, are suffering from sheer lack of funds. What will you do in the hour of need, whom will you ask for help? An obvious choice can be applying for secured auto loans.
Here we are specifically speaking about secured auto loans because of its more than one advantage. A loan is a financial obligation and you will have to repay it, in any case. All you can do is, try to keep the debt amount, as low as, possible. For that purpose, you can make use of your existing resources. There is no dearth of lenders offering secured auto loans at nominal rates. Let us discuss all the relevant detail about secured auto loans.
Secured auto loans are available to the individuals, who are short of funds while purchasing some vehicle. Due to technocratic advancement you can apply for online secured auto loans. However incredible it may sound, but, it is true you can apply for secured auto loans and avail its innumerable benefits. Online secured auto loans, work exactly like offline lenders. And you also need to work in the same manner. You will have to compare and contrast the various quotes offered by different lenders before arriving at any decision.
Always make sure, you borrow up to a limit, which you require and can repay easily. Otherwise, you may end up losing your very own car, as, that very same car serves as collateral to secure the loan amount.
With proper search, people with bad credit can also find secured auto loans. They may get liable to higher rate of interest, but, it should not be a trouble at all. So apply for secured auto loans and materialise your long cherished dream.
Maria Smith has not been writing articles from the beginning. To find a secured auto loans, secured business loans, secured home improvement loans in uk, education loans that best suits your needs visit http://www.loansfiesta.co.uk
Article Source: http://EzineArticles.com/?expert=Maria_Smith
http://EzineArticles.com/?Drive-Your-Vehicle-to-Your-Home-with-Secured-Auto-Loans&id=513192
Wednesday, April 11, 2007
Vehicle Finance Loans
New Vehicle Finance: Dealership or Your Own Bank?
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
Tuesday, April 10, 2007
Vehicle Finance Loans
New Vehicle Finance: Dealership or Your Own Bank?
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
By Carrie Reeder
There are so many options when it comes to financing a new vehicle. Should a person secure financing ahead of time, or get financed through the dealership? If a person uses their own lender, should they pick out the vehicle first and then apply for the loan, or vice versa? This article will offer suggestions on who to obtain financing through.
Obtaining Financing First
Using a lending institution beforehand to get financing approved is a smart move
for many reasons. First of all, an approved loan will let the buyer know how
much they can afford and what sort of monthly payments they can anticipate.
There is also the negotiating factor; a person waving a check around will likely
be welcomed eagerly by the dealership since the buyer is obviously serious about
purchasing a car.
Waiting To Obtain Financing
There are times, however, when the dealership can offer lower interest rates.
Special promotion financing can, in fact, be lower than that of a bank or credit
union, although not everyone qualifies for these offers. Sometimes dealers will
be able to secure a better rate than what a buyer has already been approved for
through another lender. Dealerships work with many lenders and have the ability,
on occasion, to greet a buyer back from a test drive with a lower rate. Since a
pre-approved loan agreement from a bank or credit union is not valid until a car
has been purchased, it is perfectly acceptable to not use the loan that was
secured beforehand in a situation like this.
Shop Online
Another option to consider when searching for auto loan financing is to shop for
loans online. Many websites will even allow you to compare loan terms side by
side.
To see a list of recommended lenders for a
car finance company,
or for a car loan
with bad credit and no down payment, visit ABC Loan Guide.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?New-Vehicle-Finance:--Dealership-or-Your-Own-Bank?&id=205727
Monday, April 9, 2007
Vehicle Finance Loans
Bad Credit Car Loans - Tips for Obtaining Vehicle Financing
By Carrie Reeder
Getting approved for an auto loan with bad credit is very doable. However, the tricky part is locating a good financing deal. When an applicant applies for a car loan with poor credit, some lenders are unwilling to approve the loan request. These lenders establish high lending criteria, which makes it difficult for some persons to obtain financing. On the other hand, sub prime or high risk lenders are prepared to approve all applicants. Consider the following tips for acquiring financing with a low credit score.
Know Credit Score
Walking into a car dealership or submitting an auto loan application without knowing your credit status is dangerous. Some people are unaware of their bad credit status. Likewise, some applicants are unaware of their good credit status, which justifies a low rate on an auto loan.
By obtaining a copy of their free personal credit report, buyers are given an idea of qualifying interest rates. For example, if your score is below 600, expect a higher rate. Similarly, persons with credit scores 650 and higher qualify for prime rates. Dishonest finance companies recognize that few borrowers obtain their credit scores beforehand. Hence, it is easy for these companies to take advantage of certain buyers.
Compare Auto Loan Companies
If you have a low credit score, comparing different auto loan companies is essential. Never assume that a finance company has your best interest in mind. In reality, some companies are only interested in what they can gain. Thus, they charge higher interest rates and other fees. Borrowers who fail to compare auto loan rates will fall prey to this tactic, and pay more for their vehicles over the life of the loan.
Maintain Other Creditor Accounts
Prior to applying for an auto loan, buyers should make an effort to improve other credit accounts which may be past due. If credit needs improving, buyers should delay financing a vehicle for 6 - 12 months. This allows ample time to reduce credit card balances, establish a regular payment routine, and so forth. By doing so, credit scores will gradually increase, which may improve the chances of getting a reasonable rate on an auto loan. Here is a list of recommended Credit Repair Lenders online. It's important to use a reputable lender online to make sure your personal information is secure.
For your Free On Line Credit Report visit ABC Loan Guide, a loan information website. They also have lists of lenders for Bad Credit Car Loan Financing.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Bad-Credit-Car-Loans---Tips-for-Obtaining-Vehicle-Financing&id=222421
By Carrie Reeder
Getting approved for an auto loan with bad credit is very doable. However, the tricky part is locating a good financing deal. When an applicant applies for a car loan with poor credit, some lenders are unwilling to approve the loan request. These lenders establish high lending criteria, which makes it difficult for some persons to obtain financing. On the other hand, sub prime or high risk lenders are prepared to approve all applicants. Consider the following tips for acquiring financing with a low credit score.
Know Credit Score
Walking into a car dealership or submitting an auto loan application without knowing your credit status is dangerous. Some people are unaware of their bad credit status. Likewise, some applicants are unaware of their good credit status, which justifies a low rate on an auto loan.
By obtaining a copy of their free personal credit report, buyers are given an idea of qualifying interest rates. For example, if your score is below 600, expect a higher rate. Similarly, persons with credit scores 650 and higher qualify for prime rates. Dishonest finance companies recognize that few borrowers obtain their credit scores beforehand. Hence, it is easy for these companies to take advantage of certain buyers.
Compare Auto Loan Companies
If you have a low credit score, comparing different auto loan companies is essential. Never assume that a finance company has your best interest in mind. In reality, some companies are only interested in what they can gain. Thus, they charge higher interest rates and other fees. Borrowers who fail to compare auto loan rates will fall prey to this tactic, and pay more for their vehicles over the life of the loan.
Maintain Other Creditor Accounts
Prior to applying for an auto loan, buyers should make an effort to improve other credit accounts which may be past due. If credit needs improving, buyers should delay financing a vehicle for 6 - 12 months. This allows ample time to reduce credit card balances, establish a regular payment routine, and so forth. By doing so, credit scores will gradually increase, which may improve the chances of getting a reasonable rate on an auto loan. Here is a list of recommended Credit Repair Lenders online. It's important to use a reputable lender online to make sure your personal information is secure.
For your Free On Line Credit Report visit ABC Loan Guide, a loan information website. They also have lists of lenders for Bad Credit Car Loan Financing.
Article Source: http://EzineArticles.com/?expert=Carrie_Reeder
http://EzineArticles.com/?Bad-Credit-Car-Loans---Tips-for-Obtaining-Vehicle-Financing&id=222421
Sunday, April 8, 2007
Vehicle Finance Loans
Motor Loans For Bad Credit Applicants
By Jess Peterson
Motor vehicle loans are not a common financial product and thus, having bad credit can be really an obstacle when you need finance for a motor vehicle purchase. Yet, it is possible to obtain funds, provided that you know where to look for them.
First of all, you need to know exactly what your needs are in terms of funds and what your repayment capacity is. Once the money issue is solved, we need to analyze what your credit stance is and what your options for financing with that credit are. The last step is to search for the right lender and the right loan so as to close the best deal available for you.
Loan Amount And Repayment Capacity
It is important for you to know beforehand how much money you’ll need in order to purchase the motor vehicle. Thus, only once you’ve decided which vehicle is best for you and how much money you’ll need in order for you to purchase it, you can start requesting loan quotes from different lenders to analyze the costs of financing.
You also need to have an idea of your repayment capacity so as to be prepared to decide if a loan is affordable or not and discuss with lenders different repayment programs that can fit your budget. The amount you’ll destine each month to repaying the motor vehicle loan can’t exceed 40% of your available income. Lenders like to make sure that in the event of unexpected expenses you will still be able to afford the loan repayment.
Where Do You Stand In The Credit Rank
Your credit score is an important issue. If your credit score is too low, your only chances of obtaining finance for the purchase of a motor vehicle loan is to resort to home equity loans that have lessen credit and income requirement for approval and can provide the necessary funds for purchasing a motor vehicle without difficulties.
However, if your credit is bad but your recent credit history is not that bad, there are lenders willing to approve motor vehicle loans for people with bad credit or even past bankruptcies on their credit history. The important thing is that you recent credit history must be impeccable, showing the lender that you’ve improved your credit and financial behavior in the last few months. There must be no late or missed payments on your credit report for at least six months.
Searching For The Right Lender And Loan
Searching for the right lender and loan is not an easy task. There are many lenders out there and not all of them offer good deals on motor vehicle loans. If you want to avoid being ripped off or falling for a scam, you need to be very careful and watch your steps. The best thing you can do is to request loan quotes from different lenders and compare what they have to offer. Thus, you’ll be able to decide which loan is best for you.
Jessica Peterson writes finance articles for Yourloanservices.com where she shares her knowledge about how to get money for a starting-up business, consolidating any kind of debt, repairing a home even with a bad credit history and more.
Article Source: http://EzineArticles.com/?expert=Jess_Peterson
http://EzineArticles.com/?Motor-Loans-For-Bad-Credit-Applicants&id=509933
By Jess Peterson
Motor vehicle loans are not a common financial product and thus, having bad credit can be really an obstacle when you need finance for a motor vehicle purchase. Yet, it is possible to obtain funds, provided that you know where to look for them.
First of all, you need to know exactly what your needs are in terms of funds and what your repayment capacity is. Once the money issue is solved, we need to analyze what your credit stance is and what your options for financing with that credit are. The last step is to search for the right lender and the right loan so as to close the best deal available for you.
Loan Amount And Repayment Capacity
It is important for you to know beforehand how much money you’ll need in order to purchase the motor vehicle. Thus, only once you’ve decided which vehicle is best for you and how much money you’ll need in order for you to purchase it, you can start requesting loan quotes from different lenders to analyze the costs of financing.
You also need to have an idea of your repayment capacity so as to be prepared to decide if a loan is affordable or not and discuss with lenders different repayment programs that can fit your budget. The amount you’ll destine each month to repaying the motor vehicle loan can’t exceed 40% of your available income. Lenders like to make sure that in the event of unexpected expenses you will still be able to afford the loan repayment.
Where Do You Stand In The Credit Rank
Your credit score is an important issue. If your credit score is too low, your only chances of obtaining finance for the purchase of a motor vehicle loan is to resort to home equity loans that have lessen credit and income requirement for approval and can provide the necessary funds for purchasing a motor vehicle without difficulties.
However, if your credit is bad but your recent credit history is not that bad, there are lenders willing to approve motor vehicle loans for people with bad credit or even past bankruptcies on their credit history. The important thing is that you recent credit history must be impeccable, showing the lender that you’ve improved your credit and financial behavior in the last few months. There must be no late or missed payments on your credit report for at least six months.
Searching For The Right Lender And Loan
Searching for the right lender and loan is not an easy task. There are many lenders out there and not all of them offer good deals on motor vehicle loans. If you want to avoid being ripped off or falling for a scam, you need to be very careful and watch your steps. The best thing you can do is to request loan quotes from different lenders and compare what they have to offer. Thus, you’ll be able to decide which loan is best for you.
Jessica Peterson writes finance articles for Yourloanservices.com where she shares her knowledge about how to get money for a starting-up business, consolidating any kind of debt, repairing a home even with a bad credit history and more.
Article Source: http://EzineArticles.com/?expert=Jess_Peterson
http://EzineArticles.com/?Motor-Loans-For-Bad-Credit-Applicants&id=509933
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