Car Consumers Should ‘Shop Around’ For Finance Deals

Despite further pressure on their personal finances, demand for new cars is rising among Britons, new figures reveal.

According to the Deals on Wheels report by the AA, interest in new registration vehicles has risen by 22 per cent during the past year in spite of five base rate rises by the Bank of England since August 2006. A third (33 per cent) of drivers are looking to buy a new automobile over the next 12 months, in comparison to the 26 per cent recorded in the same time last year.

The financial services provider also pointed to statistics showing that the real cost of cars had decreased by 26 per cent over the last ten years, figures which were suggested to be “impacting people’s decisions to make an investment in new wheels”.

In comparison, the second-hand car market was shown to have fallen over recent months. Currently, just over a third (36 per cent) of respondents are planning to get a car which is less than three years old – a fall of 16 percentage points from the 44 per cent recorded in a study taken at the start of 2007.

Reliability and mechanical problems are the main factor pushing demand for new cars, accounting for 32 per cent of people surveyed. Concerns over running costs of vehicles make up 28 per cent of consumers’ reasons to get a brand new automobile, compared to environmental worries which stand at 18 per cent.

Commenting on the figures, Lloyd East, head of AA Personal Loans, said: “As interest rates rise, UK consumers are beginning to tighten their purse strings. But our research shows strong consumer demand for new registration cars ahead of September 1st. This suggests that reasons for buying a car are not only influenced by price at purchase.”

And with about a third of those planning on getting a car set to take out personal loans or showroom finance deal to fund their purchase, Mr East suggested that more people are becoming increasingly concerned about the running costs and the practicality of their cars. “With interest rates rising, the cost of buying a car on finance is increasing and it is therefore essential that people intending to buy a new or used car shop around for the best deal before heading for the forecourt,” he added.

Those in Scotland were revealed to be “keeping their foot on the accelerator” when it comes to buying a car as 41 per cent of consumers in the region are aiming on getting a new vehicle over the coming year. This compares to some 26 per cent of residents in the south of England.

Overall, older Britons are driving the new car market as 52 per cent of those over the age of 55 are set to make such a purchase. Meanwhile, a fifth of 25 to 34-year-olds are looking to do so, as younger people are reported to be much more likely to buy a used automobile.

Earlier this month, Tim Moss, head of loans for moneysupermarket, claimed that those considering buying a new 57 registration car in September could be “taken for a ride” if they choose an uncompetitive finance product. The price comparison website suggested that consumers opting for a showroom deal instead of a cheap personal loan could collectively be paying 140 million in extra interest payments.

6 best ways to get a Christian finance

Christian Finance is a concept which is based on the Biblical perceptions to help teach believers their stewardship duties and to be a responsible Christian investor with their money. There are many Christian Finance principles based on Biblical affiliation such as goals, budgeting, debt elimination, saving, financial management, tithing, and giving.

There is a ministry such as Crown Financial Concepts who offers numerous books and small group studies on stewardship financial management. There are also many Christian Finance scholars available who conducts stewardship seminars and workshops based on timeless truths about how to manage their money with Christians at local churches.

Along with the teaching ministry, there are many financial institutions which are fee only financial planners that combine their Christian faith along with traditional financial services standards. They also use Christian Finance concepts to administer investment accounts for Christian values and always try to avoid investments that conflict with their client’s Christian beliefs.

” Best ways to get a Christian Finance #1 – Identify your needs – Simply contacting a Christian Finance planner is not enough. Prior to that you need to identify what you need from your consultant. This would include the type of home you would like to own, the savings that you can invest, the monthly repayments that you can afford and the value that you want out of the deal. All your transactions can then be managed with the biblically based investment advice.

” Best ways to get a Christian Finance #2 – Get the best Christian Finance planning firm – The best Christian Financial Planning firm will help you to organize and manage the money with investment advice which are steeped in traditional values and traditional financial planning techniques. A Christian Finance planning firm is needed to help the fellow believing clients in two areas. (1. So that they are able to offer advice with solid moral Biblically based advice. 2, they can use their education and experience to provide the best advice available)

” Best ways to get a Christian Finance #3 – Be aware – It pays to be aware. Do your research on the local real estate options as well as history so that you are familiar with the area and the projects that are on the platter. It is important to ask your Christian Finance advisor to walk you through the various properties and neighborhoods so that you can study their pros and cons yourself.

” Best ways to get a Christian Finance #4 – Be up to date regarding the Christian financial services – Before you invest, you should be thoroughly up to date with the latest trends in the Christian Finance offers. This will help you decide what is best for you and your situation and assist in your long term finance plan.

” Best ways to get a Christian Finance #5 – Choose the best option – Your advisor will give you several options to choose from. Make sure you evaluate them all against your finance situation and your property needs. You should opt for the program which is most comfortable even if it runs into a longer tenure. It is better to pay smaller amounts for a longer duration than hurry with repayments only to default on the mortgage which will result in the loss of your home.

” Best ways to get Christian Finance #6 – Get the best lawyer – Though based on the Christian belief, you should also keep in mind that this is primarily a financial investment. So it is always advisable to get the best lawyer who is not only be well equipped to handle Christian Finance but will also advise and guide you through the intricate maze of real estate investment in general.

Debtor Finance Services and the Growth of the Financial Sector

Debtor finance services can give a positive punch of cash into the exchange to help fund working capital and help, in any case it could be reasonably unreasonable and is not suitable for all organizations. As a general rule, financing includes getting a bank or pro loan specialist to give your business a loan, which is secured against the exceptional receivables of the business. In the event that you have especially long credit terms however require a moment working capital, instead of holding up for clients to pay, then financing can offer assistance. This type of financing gives an alternate approach to fund the working capital of the business without utilizing your altered stakes of the business or the particular possessions as security.
Debtor finance services have a tendency to be a more acceptable alternative for entrepreneurs or for organizations in development stage, where the holder does not wish to give their home as security to the business. This is extremely applicable where the house is not claimed by the single person at danger or, in those circumstances, where one business accomplice may claim a home and the other doesn’t. It could be especially utilitarian for organizations with no huge settled stakes who wish to fund fleeting development, and additionally organizations looking to address transient cash flow issues.
Nonetheless, since debtor financing expenses more in enthusiasm than different types of funding, its utilize needs to be carefully considered. It is frequently utilized where all different manifestations of security have been depleted or kept available for later as a choice when the business needs to fund quick development open doors and fails to offer the working funding to profit by these. The financial world has seen resurgence inside the financial business as banks and different agents have perceived the chance to furnish organizations with new manifestations of cash flow loaning and not depend simply on blocks and mortar as security.
It ought to be noted that Trade finance is not calculating. Considering viably outsources the debt collection methodology to an outsider (the agent). With figuring, debtors are made mindful that all debts have been doled out to the Factor and instalment must be made to the Factor, as opposed to the business. This can have a noteworthy effect on client connections. With debtor financing, subject to specific conditions that may exist inside gets, the client might never think about your interior funding courses of action and will keep on paying you on the concurred terms.
Both banks and other subsidiary lenders, give this type of Trade finance. Actually, the greater parts of the real banks now give this administration. In the event that your debtor’s book is solid and cash collections are short of what 45 days, then debtor financing won’t give any genuine extra funding profit and will indeed cost the business through premium charges. Debtor financing has its profits where clients are moderate to pay in excess of 60- 90 or more days. On the other hand you have to be certain those clients will pay.

Financing Gas Stations and Convenience Stores 101

How gas station owners can finance or re-finance gas station real estate. Most banks don’t want to lend on this type of property because they do not understand this business. Kendall Schnieder has been in the commercial real estate finance business since the mid 90’s and has a very close working relationship with some very aggressive banks.
Monday June 11, 2009

The USDA B&I lending program might be just right for you the time you need gas station financing.
Is your request for gas station financing the “Cream of the Crop?” Do you have a FICO score of 800+, 50% down, and 25 years of management experience? If not, then the next time you want to apply for gas station financing, you need to look beyond in-house lenders such a banks or savings and loan type lenders.
There are many financial instruments that are used for funding gas stations and convenience stores, the problem is find a lender that first of all knows the gas station financing business, and second, is in a position to shop various lending resources for the best funding program. Most lenders are employees that work for a bank or lender, and they normally have a set of underwriting guidelines that do not fit all circumstances. So they go by the numbers and know that if there are fifty applications for gas station financing, that one or two will be funded. And that is all they want, because those two applications will be the cream of the crop, and usually very safe loans. But what happens to the other 48 applications? That is what we want to talk about in this article.
Many gas stations are located in rural areas, meaning that they are not located close to a metropolitan city, and are located in town with fewer than 50,000 population. Gas station financing in these areas becomes more difficult for many reasons, none of which are directly tied to the business, but to underwriting guidelines. It is also important to understand that financing for gas stations is improving, and funds are becoming more available. One point that I want to make here is that this ‘loosening’ of funds for financing gas stations specifically, is not going to be long term. Part of the world plan on energy is to do away with natural resources, such as oil, and so there is going to be a lot of pressure to remove gas stations and go to alternative fuel sources. However, please be assured that once you do get your financing, they can’t take it away. So now is the time to do your strategic planning, and it will benefit you in the long run. Also know that the dollars you invest today will be cheap dollars when compared to the cost of investing five years, ten years from now.
One of the gas station financing programs that is available now, is the federal government’s USDA Business & Industry (B&I) loan program. It is somewhat similar the SBA’s loan programs, but is designed for rural area gas station financing. It appears that the B&I commercial real estate loan program may very well be improving and, as a result, there may be some new and significant lending opportunities, possible changes include:
� USDA like SBA will likely have some 90% guarantees in its stimulus funds
� USDA like SBA will likely pay some borrower fees and may reduce some borrower fee to 1% (from 2%)
� USDA will publish its stimulus rules for lenders to follow by June 1, 2009
� USDA stimulus funds will be delegated to the state for local approval.
To get the biggest bang for the buck and get the stimulus dollars flowing, the USDA B&I may give lenders the loan guarantee during construction as SBA does. Know that lenders considers these loans nationwide with 20% down for a 30-yr. term (no balloon). If you would like to know more about USDA’s B&I commercial real estate lending program, or would like to be updated as these changes occur, please let them know.

Enjoy Your Dream Car Through Bad Credit Car Finance

You need to buy a car but you think your bad credit may come in the way of availing finance. There is no need to worry at all on the front of taking required funds from loan providers as bad credit car finance is especially designed for bad credit people. You are fully eligible for buying any car new or used one through taking bad credit car finance.

Also because of the bad credit car finance availability at easier terms, you need not to settle for a used car that is of old high mileage which is bought from a buy here pay here dealer. Bad credit car finance is attractive also because you can take the finance instantly within 24 hours.

Bad credit of a car buyer does not count much at the time of seeking the finance. This is because provider of Bad credit car finance [] secures the loaned amount by using the car itself as collateral. The lender will take in his possession the necessary car deal papers only to return them back when the loan is fully paid back by the borrower.

Despite your bad credit, the finance is provided at comparatively lower interest rate as the finance is well secured through the car itself. Usually the finance is offered for a shorter period. But a bad credit person should take note of few measures so that the finance is approved quickly.

Before approaching the lender for the finance, make sure that you are not paying more than 30 percent of your annual income towards your debts. If the more of your income goes in clearing previous debts then it gives a feeling of insecurity to the lender about safe return of the loan. So, in case you are paying more than thirty percent of your annual income towards debts, better pay off some easy debts to bring down debt-to-income ratio before applying for the finance.

Also, prior to applying for bad credit car finance, get a copy of your credit report from a reputed credit rating agency and check the report for errors and inaccuracies. It would benefit more in terms of the finance availing cost and quick approval if online lenders are approached for bad credit car finance. When you fill application form for the finance, it is immediately approved and you receive car finance package that includes check and necessary instructions and you can shop for the car. Then you can enter the settled purchase price and seller’s name on the check and send it to the lender and the car is all yours.

It is very easy to access bad credit car finance but remember that since you have bad credit, ensure that you pay off the finance in time. This will also help in improving your credit score.

Search Online When Buying Car Finance

When it comes to buying car finance your first port of call should be online. By going online with a specialist car finance website you are able to access some of the top UK car loan providers to determine which would be the cheapest option for your particular circumstances. Car finance comes in many different forms and it is imperative that you understand your options and what each option entails so when it comes to comparing you know which is better for your personal needs.

The most popular type of car finance is hire purchase, this is simply a loan which you take out after paying a deposit against the car and then pay for the remainder over a certain period of time. The monthly repayments will depend on how much you wish to borrow, how long you wish to take the loan over and the deposit you are willing to put down. Of course your credit rating will be taken into account as well and you will be putting the car up as security against the money you are borrowing in case you find you cannot afford to keep up the repayments.

An alternative method when it comes to buying car finance is to go for a popular choice called personal contract purchase. Again you will put a deposit down to reduce the amount left to borrow on the car and then take out an agreement which will last for a specified term during which very low monthly repayments are made, after this there will be a lump sum left which will mean you have choices to make. If you decide to pay off the balance left owing then the car is yours, if you want to part exchange for a new car you can or you can give the car back and you owe nothing more.

A lease or credit purchase is very similar to the personal contract purchase method of buying car finance but you do not have the option of changing cars or of giving it back, you have to find the money for the balance left owing. All finance options suit different circumstances and information and advice can be found with a specialist website regarding all options. Understanding what you are taking on is essential so you have to not only compare the rates of interest and deals but also unearth any hidden charges, these are usually found in the key facts which should come with the loan.

Buying car finance is never easy and it is not something which should be rushed into, never be tempted by what seems to be very low interest rates without first reading the small print. Hidden costs could be associated with the finance option which could boost up the cost considerably. By reading the small print you can determine how much interest will be added onto the loan, the total amount you will pay and the rate of interest, also how much would be left to pay up at the end of a personal contract purchase or lease purchase.

An Insider’s Guide To Car Finance

Car finance brokers receive “accreditations” from lenders, that are official agreements between lenders and also the broker that allow the broker to access each lender’s companies. The array of accreditations held by a broker govern the range of alternatives they will offer to their consumers.

The accreditation process may differ from financial institution to loan company, with some requiring very little to supply an accreditation, whilst other folks insist on a shopping-list of things like probity and solvency checks, set up investing heritage, Expert Indemnity insurance policy cover, trade and client references plus much more. Some lenders are so selective which they only offer with a single or two of brokers across the complete of Britain!

Suggestion: When deciding on a car finance broker, learn about their selection of loan company accreditations. Your brokers’ accreditations not just impact the array of car finance options available to you, but in addition the quality of those choices – the more selective loan companies frequently give the most attractive car finance merchandise. Keep in mind that with regards to financial institution accreditations, quantity doesn’t equal good quality!

Decide on a broker that recruits and retains expert, sincere and skilled staff.

Your vehicle finance consultant should be a skilled professional who will show, in creating if asked for, why a specific merchandise is suggested on your distinct circumstance. You are entitled to request for testimonials from preceding consumers and confirmation of their experience in the event you desire.

Tip: See if the consultant can offer recommendations from their own personal customers and/or consumers of their employer. If your consultant is really a contractor rather than an worker, check out which they have ample Specialist Indemnity insurance coverage protection.

Prompt, individual support ought to be a presented, however, you also needs to assume your car finance advisor to supply clear details about timeframes, why they have got made their suggestions, and any expenses and charges associated along with your car finance.

A superb car finance advisor must also manage to explain the comparison price (if relevant) of one’s proposed car car finance as well as the total expense of your respective car finance deal, including any concealed charges or expenses.

Tip: Attempt a comparison rate calculator to ensure you happen to be comparing apples with apples.

Complaints about car finance brokers may additionally be dealt with through the related monetary companies authority.

Additionally, car finance brokers serving customers based mostly in particular areas experience an additional prerequisite: they must maintain legitimate licenses for that jurisdiction they run in, which calls for the licensee to move a comprehensive choice of checks, instructional demands and operational needs.

Suggestion: For reassurance within the event of any dispute, check out that your car finance consultant, or their employer, is actually a member of the related trade association.

Protection Within a submitting cabinet or powering a firewall – in which is your personal details being saved?

Throughout the process of applying for and finalising your automobile finance, your expert will need access to your own info, which includes copies of motorists licences, residence tackle details, employment and revenue details. This details and more is essential by all trustworthy loan companies.

Tip: As being a bare bare minimum, your automobile finance expert ought to be able to supply a company privacy policy detailing how your data will be collected and employed. You are also entitled to check out that any information supplied is secured (preferably electronically) and, when appropriate, securely disposed of. Rows of unlocked submitting cabinets usually are not a great indicator! Read more details on guarding your credit score and stopping identification theft.