How to Use the Internet to Find the Best Car Loan

How to Use the Internet to Find the Best Car Loan

The Internet is a wonderful resource for searching out new financial products especially when it comes to finding the best car loan. All the major lenders have their own websites and these provide plenty of information on the types of finance offered and how they could benefit you. As a consumer you will be in a strong position when it comes to getting finance as many lenders will be competing against each other to attract your business. This means there are a number of competitive APR rates and deals that can provide you with a cost effective way to get the finance you need for your new car.

Exclusive Online Deals and Offers

You may have noticed that there are a number of finance packages advertised online that are not available if you contact the lender in person or by telephone. It is important if you are thinking about taking out car finance that you not only spend some time looking online but talking to your supplying dealer about dealer finance options.

Comparing Quotes

The Internet also provides you with an easy way to compare quotes. You will not have to telephone providers individually or visit banks and other high street lenders to find out details of loans. All the loan information will be available from the lender’s website and you can quickly and easily find all the details you need to compare offers. There are also a number of independent loan comparison websites that can make this job even easier for you. All you need to do is type in how much money you want to borrow and the website will automatically search through the latest offers available and provide you with a list of options. As with many adverts on the internet you will have to go that one step further and contact the lender to ensure what is advertised is available to you.… Read More

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How to Spot the Best Car Loan

How to Spot the Best Car Loan

Do you want to get a car loan instead of forking out a large sum of money upfront for a car? Well did you know that some loans are better than others? When looking for car finance you should be aware of what to look for and try and opt for the Best to suit your needs.

What is a car loan?

That is basically a loan for the purpose of purchasing a car. You can usually go through a car dealership that works in partnership with reputable car financing companies who can provide the quote, help you with the application and finalise the loan, – all in one simple visit.

A quick snapshot

– Look at the interest rate and compare with others

– Look at the monthly repayments

– Enquire about up front charges

– Find out how much you will pay overall on the loan

The Best Car Loan will usually have a competitive rate of interest; the company will offer you sound advice on the amount of money you should opt to borrow. The company will ensure you understand the process and your obligations fully. They will help you with a realistic payment plan and ensure you have the means to pay it back before offering you the loan.

A quick snapshot

– Reasonable interest rates

– Realistic monthly repayments

– Helpful unbiased loan advisers

– Realistic payment plan

What if you have bad credit?

If you have bad credit, it is not advisable to try and apply for a that loan. There will be very few lenders, if any, who will offer a loan for a new car to people who have had credit issues in the past.

What you need to get car finance?

– Good credit

– Full UK driver’s license

– Deposit

– Three to six months bank statements

– Three to six months wages slips

Employer information

– Proof of address dated in the last three months

Address details for the past five years

You may need more or less, however if you are looking for the best loan, it is advisable to make sure that you have all of these things to hand. Get your finances in order and make sure you have enough money for the deposit, insurance and any other costs associated with owning a vehicle.… Read More

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The Challenges of Being an Individual Investor in Turbulent Times

The Challenges of Being an Individual Investor in Turbulent Times

Other than the depression generation, I really don’t think there has been a more difficult time for individual investors than right now. In fact, even in my lifetime I’ve seen investing go from a “relatively” safe and predictable venture (good markets in the U.S. will often bring reasonable returns) to a market that can be very unpredictable and unsettling for the average investor. No longer is what markets do in the U.S. a good predictor for what markets will do elsewhere. We are now a nation of investors that must keep our eye on the international scene to truly understand where markets are going. Even with this knowledge, we can be deceived sometimes into thinking we have a handle on things, only to be kicked square in the seat by the unpredictability of it all. Case in point; the recent Euro zone loan to Spain to shore up its teetering economy. If you’ll recall, the market responded very positively to this action the day after, for awhile, and then gradually began to drift south. The Dow ended down by over 140 points that day. You ask, “What’s that all about?” So do I. I might add that the market was up the very next day, according to some reports, because of anticipated stimulus action. Who can figure, right, but this is the environment in which we strive to be successful investors today.

The complexity and mystery that comes to the market with international play is but one variable that faces today’s investor. There are a lot of other variables that didn’t seem to loom nearly so large in times past.

Joe Investor has to be asking himself these days if he is being dealt a straight hand. In other words, is the average investor really playing a game that’s fair for all. Certainly, there have to be some doubts about this. With heavy institutional investing and strong suspicions about those in the know getting first shot at the best investment opportunities, it weakens the stomach to know that some will always have the upper hand when it comes to “getting in first”. These concerns bring down the average investor’s confidence in his ability to play on even playing field. You can’t help but think how much of your gain is being siphoned off, because you came late to the table or didn’t have all the information available to others. For those that purchased Facebook stock, but weren’t the first to “get in”, you had to wonder if what you got with your purchase was the scraps of this sale. The declining price of this stock since it’s rollout should make you question this even more. So, “Use a financial planner”, you say. The chances are your financial planner isn’t close enough to the real action to have any more information than you do.

The whole issue of trust is another variable that looms larger today than it did in the past. It’s hard not to have less confidence in those … Read More

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The Case For the Self-Directed IRA

The Case For the Self-Directed IRA

Emily is a professional woman with an active business and is a very busy person. So busy in fact, she depends on her financial advisor to invest her hard-earned retirement savings with the hopes of compound wealth with safe, secure investments. Emily is lucky. So far, he hasn’t lost a dime through his financial advisors.

However, not everyone is so lucky. On February 21, New Jersey’s Courier Post, published a front page story about a recently-deceased financial planner, who had clients that are now missing money. The amount is currently at $5 million, and growing. Where did the money go? So far, there are about 20 clients involved and that number continues to expand. All of them, like us, could not afford to lose the money.

A pillar of society, this advisor put many of these people in Certificates of Deposit (CD) that were fraudulent. How do I know this? My mother was one of those people. It has now turned into a class action suit and a potential criminal investigation. Certainly, the claimants will not be receiving 100% return on principal. Additionally, it has cost them even more money to retain attorneys.

I tell this story because all of us have the potential for a parent, child, friend, or others we know to fall prey to bad people. This is not to say every financial planner is bad, actually the majority are good.

Would these people involved in the lawsuit have been better off investing their retirement plans themselves?

Though Emily has had success, she is allowing other people to vote on her money. With a self-directed IRA or Individual (k), people have the ability to “drive their own bus” to wealth. Yes, this takes work. Perhaps the perception is that since we as customers are not experts in whatever assets we consider for our retirement plan, we think we need a professional to guide us. In many cases that is true.

But, would we be better off having some accountability and control for investment decisions that are made? What is the worst that could happen? With education and initiative, could we do a better job ourselves? With Entrust as your self-directed IRA administrator, you have the ability to educate yourself on how self-directing works, the different types of assets that are available, and how to do this yourself with your IRA.

Paralysis is not a good thing. Sometimes, we need to be in control. Though my mother is over the age of making contributions in her IRA, she is learning how to control what she has and not allow others to vote on her money. We are now looking at real estate together, me for my IRA, and her for cash flow.

When you have a goal, can create a road map, are open to learning how to take care of yourself, and learn how to know and understand what you are investing in, you have a better chance to grow your wealth. Or, you can let others … Read More

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APR Loan in Plain English

If it’s your first time applying for a loan then you’ll surely encounter terminologies that you’ll need to understand. One such term that you will always come across is the annual percentage rate or APR loan.

APR will give you an idea of how much your monthly payment would be by giving you an approximation of your annual interest rate. This is especially true for loan providers, credit card companies and banks. However, all things being equal, don’t be blinded by the APR Loan rate alone as you might be charged with processing fees, insurances and other applicable fees as deemed appropriate in your transaction.

APR Loan in Plain English

Also, make sure that you understand how much your nominal APR is and if compounding, APR loan fees will be applied. For the purpose of clarity, nominal APR is the simple interest rate per year. If you are charged A1 per month per A100 loaned, assume that your annual nominal APR is A112. For compounding interest rate, say the same APR rate is applied, you’ll pay A101 on the first month, and A102.01 on the second month, and so on.

Looking at the information above, it’s important that you ask your loan provider and have everything explained to you before you become firm in your decision for going ahead with and processing your loan. As always, try to compare by using an APR loan calculator online so that you’ll see if there are other providers around that may give you a better loan rate.

These calculations are part of the bigger consumer protection process which needs to be carried out whenever someone applies for a loan. The Truth in Lending Act requires all lenders to disclose the “real cost” of borrowing a certain amount to protect both parties from legal liabilities should a dispute arise.

APR loan calculation scheme is applied in order to make borrowing and lending an easy process and to help the borrower make an informed decision as to which lending company to go to in order to take advantage of the lowest possible interest rate for their loan.

APR loan rate is not an indication of the entire fees you need to pay for every month. More often than not, the headline rate advertised by banks and credit card companies are different from your actual monthly or yearly payment because of the addition of applicable fees as mentioned above. These fees are always written in the contract that is filled out during the application process.

Lending companies such as banks are required to disclose all the information related to payment in the documents, especially the APR, before the borrower agrees to sign the loan contract that will finalise the deal.

One advice to take when borrowing is to study the APR loan summary clearly and compare it with other banks or companies that provide the same service. For those who are getting a loan to buy a car, you can go directly to any car dealership near you and choose the … Read More

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