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Archive for Car ownership

Saving For Your Retirement

Thursday, February 15th, 2007

You are never too young to start saving for your retirement.  Although majority of us never look that far, it is always those who plan ahead who get ahead.  If we start to think about retirement early on and start to make some effort to save for our retirement years, then we are already off on a good start.

It is never too early to start saving for your retirement, and no matter how little you save you will be amazed at how much it can accumulate to throughout the years.  To start off on your savings plan you can start by making a few changes and learning some tips on how to save as the year’s progress.

One way of saving is by renewing your insurance.  As you get older, your insurance coverage may need to change your coverage, as you will not need the same coverage for life.  Your house and car insurance could possibly be reduced as your age increases.  Your life insurance policy could be reduced as well.  If your children are grown and living on their own and financially secure then your main focus should be your spouse.  By figuring out just how much you want to leave for your spouse and your children who are now financially independent, you can lower the amount on your life insurance and put the extra savings aside into a retirement fund.

Resisting the urge to replace your car every two years can also make a big difference and help you save.  If you stick it out until your loan is paid off and keep your car, you can then use the money you were spending on your monthly payments and set it aside into your retirement fund.  If you purchase a good quality car and take care of your car, it can last you years and save you hundreds, even thousands.

Paying off your credit cards is the biggest saving you can make.  When you pay off your cards, you save yourself the high interest charges that you are paying.  Paying off your cards will also ensure financial security when you are older as you will have no debt hanging over your head.

By looking at your expenses and finding ways to cut them down, and putting aside the money you save by cutting these expenses, you can easily accumulate a large sum of money into your retirement fund.  Although retirement may seem a far off goal, you should still make it a goal to save.

Posted in Banking, Car ownership, Consumer Credit, Homeowners, Insurance, Savings, Spending, UK Finance | No Comments »

Comparison of the most expensive car loans on the market.

Wednesday, January 31st, 2007

If you have very poor credit, then it may be advisable for you to consider very carefully before you take any extra credit on board. However, if you do need credit, there are a number of lenders that are currently catering to this market. The loans reviewed here are not dependent on home ownership and are available to be used on cars.  Accept car credit for example, offer car loans that allow you to buy from any car dealer in the country. They have a loan on offer at 28.7 percent that is a fixed rate. Accept do not advise what the early redemption fee will be but do state that there is likely to be one. There are no other fees associated with the loan. This is the Gold loan.

If you have trouble qualifying for the Gold loan, then Accept also offer a Silver loan that comes in at a more expensive 36.2 percent. This loan offers similar terms to the Gold loan, apart from the higher interest rate that is charged.

An even more expensive option is Auto Credit Finance which offers an online car loan priced at a whopping 38.9 percent. It would not be very advisable to take out a loan at this price but it available with no arrangement fees and an early redemption charge that varies from applicant to applicant.

Finally, there is the Personal Loan Centre which offers an unsecured loan at 48.2 percent. This loan is available to all qualifying applicants with no requirement for security. The Loan is offered by the London Scottish Bank Group and research shows that actual APRs may be as high as 60.8 percent. At this rate you may be better off waiting till you can buy your car outright.

Posted in Bad Credit, Borrowing, Car finance, Car loans, Car ownership, Consumer Credit, Consumer debt, Financial news, Financial products, Homeowner Loans, interest rates, Personal debt, Personal loans, Secured loans, Spending, UK Finance, Unsecured loans | No Comments »

Factors to bear in mind when you are buying a new car

Tuesday, January 16th, 2007

If there is one thing that people love spending money on, it is a new car. It seems that even with all the new products and services that are available to people today, it is still cars that top the wish list of most peoples’ shopping basket. Women are also quickly becoming hooked on the excitement of buying a new car and sellers report that women are now significantly involved in the purchase of 80% of all new car sales in the UK.

However, if you are buying a new car, then there are a lot of factors that you should bear in mind before you sign on the dotted line. First of all, you should know that there are many extra costs involved. Just because a car is advertised at a certain price does not mean that that is the price that you are going to pay. Straight away you may have to add a delivery charge to the price as many car retailers charge for this. Then you will also have to add the cost of all of the extra features that you require. While these are not compulsory, most of us end up being tempted by a few of the extras that car manufacturers offer.

Then there are the related costs of road tax and insurance. While road tax is usually quite inexpensive, you should certainly find out what band a vehicle falls into before you make your purchase. You should also look into the cost of insuring the vehicle. Once you compare how much various cars cost to insure, you may well decide to change your decision on which vehicle offers you the best value for your budget. And don’t forget the financing costs, as very few people pay for their car outright.

Finally, you should always remember that the vast majority of car dealers are still willing to haggle over the price. Even if they say they are not. Car sellers are notorious for posting prices that they hope to achieve, even if they are willing to sell for a significantly lower sum. So shop around, and always try to bargain. You may be surprised how flexible many car prices actually are.

Posted in Borrowing, Car finance, Car loans, Car ownership, Consumer Credit, Financial news, Personal loans, Spending, UK Finance | No Comments »

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