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Archive for Car loans

Buying a Car with Bad Credit Car Loans

Saturday, July 24th, 2010

When credit scores are not at the highest levels that they could be, they still should not discourage people from plans of buying cars as long as they are willing to consider exploring the potential of a bad credit car loan. Owning a vehicle can help mitigate commuting costs as well as provide the ease of getting to and from work or other venues you may need to be at. Some lending companies understand that the opportunities for a person with bad credit to avail of car loans are minimal and these same lenders have remained open to the possibilities of granting a loan to anyone in such a situation.

The incidence of bad credit is certainly not an isolated one, considering the large number of borrowers nowadays who are struggling to make ends meet and barely keeping up with various credit card and loan payments. Problems arise when bad credit gets in the way of gaining access to monetary help for matters like improving one's home or buying a new car. A bad credit car loan is intended to aid a person who is hindered by a history of bad credit from being able to buy a new car which he or she could only achieve with assisted financing. The general idea is that in spite of what a borrower's financial records suggest, he or she will still be granted the money needed to get a car, albeit at a higher interest rate and less flexible terms than those of traditional car loans. This is implemented by lenders as a precautionary measure, giving them some sort of advantage in case the borrower is unable finish making payments on the loan. Lower interest rates are still an option, however, for anyone that can put up a collateral or get a qualified individual to co-sign as a guarantor.

Get a loan advisor to help you compare online loan rates to see which lending companies have the cheapest loans to use for buying cars. As with entering into any loan agreement, make sure that all payments required are met as stipulated and in full. Remember that concluding a bad credit car loan with success will also help raise your credit score and ultimately open doors to other forms of financial help that you may need in the future.

Posted in Bad Credit, Car finance, Car loans, UK Finance | No Comments »

Are house prices on their way to a crash?

Wednesday, June 4th, 2008

Almost everywhere you go these days you can hear people obsessing over the same big question, which way are house prices going to go?

It should not come as such a big surprise however that almost everyone is so concerned over this one question. First of all with the massive year on year growth that we have seen for the past decade many people were simply assuming that there was no safer investment than in property. At the same time many people genuinely thought that property investment would be a great cushion for retirement. The events of the past few months have really shaken peoples’ confidence in the property market, and have now got everyone asking if property investment is really the way forward.

So are Britons right to be so nervous about the property market now? Judging by what many experts are saying, the answer would seem to be yes. First of all there was the Nationwide Building Society forecasts that house price inflation was going to fall from a current level of 10% all the way down to 0%. That prediction was on the more optimistic side of the scale with other institutions predicting that in one year’s time the price of the average house would actually be 3% lower than it is today and dropping by another 3% in 2009.

However despite these predictions we are probably far more likely to have a drawn out decline in house prices rather than a crash. The country is no doubt in the grip of the credit crunch, but the type of recession seen in the early 90′s is unlikely, according to experts.

Whilst borrowing in the form of home loans and personal credit has become much harder, employment levels have not yet dipped. This means that would-be house buyers and those looking to finance cars or holidays may have trouble getting the cheap loans on offer a few years ago, credit is still available, unlike 15 years ago.

Posted in Borrowing, Car finance, Car loans, Consumer Credit, Consumer debt, Debt management, Financial news, Financial products, Homeowner Loans, Homeowners, House buying, Housing news, mortgages, Personal loans, Property, Secured loans, UK Finance | No Comments »

Is Green Card Effective?

Friday, September 28th, 2007

Recently Barclaycard came out with a new credit card called the Barclaycard Breathe, which is a card that claims to offer a greener solution by offering 50% of Breathe profits to be donated to environmental projects dedicated to reducing carbon emissions around the world.  Breathe has also claimed to offer a greener customer experience with no paper statement, environment friendly produced credit cards, and a credit card recycling scheme for the old cards.  Breathe customer’s will also benefit from discounts such as £50 off British Gas home insulation and other offers.  Despite all these benefits, one has to ask whether using a green card is worth it.

The size of the Barclaycard Breathe contribution to the environmental projects depends on the profit levels that are made by Breathe.  This means that the further you are in debt the more Breathe will contribute, as profits will be generate by cardholders who rack up their interest payable as they are unable to make more than the minimum monthly repayments.  Those who pay off the entire balance on the credit card every month will find that their contribution will be minimal.  Although you will be making a contribution by paying off your debt on time, you will find that you can make an even bigger contribution by falling into debt and sinking into the red zone.  This is not the ideal solution to help protect the environment.  So before selecting a credit card that sounds good, you will want to research the product and ensure that it will be as good as it claims.

Consumers who are prone to debt on their borrowings are wiser to take out cheap loans to cover their expenses and look at other ways of helping the environment. For example, using a ‘green’ credit card to pay for repairs to an old car is not as environementally friendly as taking out a personal loan to buy a more fuel-effiicent model, and yet once interest rates are accounted for, both can cost the consumer the same amount.

Posted in Borrowing, Car finance, Car loans, Consumer Credit, Consumer debt, Credit Card, Debt management, Financial news, Financial products, interest rates, Personal debt, Personal loans, UK Finance | No Comments »

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