Auto Financing Tips

If you are looking to buy a new automobile no doubt you have already started doing your homework. Comparing vehicles and models, accessories and mileage and checking out an abundance of dealerships to see who has the best price for the exact vehicle you want to drive.

You need to do the same thing when it comes to getting financing for your new vehicle. Financing options abound, and everyone has a slightly different rate with slightly different terms. It is up to you, the consumer, to find the deal that is right for you.

The process of finding a financing option which is best for you can seem daunting but there are at least a few things you can do to make the process a lot less painful and lot more effective in the long run.

Dealer financing

In many cases the dealership will work to help you find an option that you can handle. Remember, they want to sell you a car, so it is in their best interest to help you buy it, but there is only so much they can do. The rest is usually up to you.

Start by comparing financing options available at institutions other than the one your dealer recommends. Don’t be afraid to search online, visit your bank, the neighborhood credit union or anyone who makes new auto loans. Everyone will have different interest rates, terms and options. The more options you have the better the deal you can secure for yourself.

Leasing might be better for you

You might also want to consider a leasing option rather than a straight purchase. With leasing you can often get a much lower monthly payment and also not have to worry about maintaining the car month after month because dealer provided maintenance is part of the agreement. Of course at the end of the least the car belongs to the dealer, not you, so be sure you understand how that will impact you in the long run if you decide to go with that option.

Your credit report

If you do decide to purchase you vehicle there are a few simple steps you can take to make certain you get the financing options that you need.

First, get a copy of your current credit score and credit report and start checking it for errors. It is not uncommon for credit reporting companies to use outdated or completely wrong information. It is up to you as the consumer to make certain the information in your credit report is accurate.

Every lender is going to use your credit report and credit score to determine whether or not to loan you money and what terms to offer you. Making certain this information is correct will go a long was to getting you the deal you need.

Compare lenders

Don’t just settle for the financing option offered by the dealer. Start comparing rates of as many lenders as you can. Visit your bank, local credit unions and even internet lending agencies. Collect a list of the top five deals offered then revisit them and start negotiating. Don’t be afraid to haggle for the best possible deal. Lenders, if they want your business, will be willing to fight for it and will adjust the terms of their loan to better suits your needs in order to get you to deal with them.

Don’t be late with your payments

Once you get the loan you want, make your payments on time and pay off the loan in full so you can further improve your credit and get an even better deal the next time you buy a new car.

Canadian Business Financing – Tips on Securing Financing For Your Business

Business financing is a challenge anytime, from the entrepreneur’s dream of a small start up to major corporate needs.

The current economic downturn makes the above noted challenge even more daunting. Whether a firm is established and doing well, or experiencing financial distress or working capital or growth needs – the challenge remains the same.

What is the ‘challenge’? Simply speaking it is identifying the proper financing solution , determining whether the solutions is a short term fix or a long term solution , and then, most importantly executing with experience the proper financing solution.

The business owner must be able to properly position the current shortcoming as both an opportunity and risk appropriate.

Proper financing begins with the owners and his advisors ability to identify the current financing challenge. The owner and advisors must provide a compelling reason for the lender to assist in an appropriate financial solution.

Who are these ‘advisors’? Typically they are internal financial staff, i.e. CFO/Controller, etc, or alternately third part accountants and experienced financial intermediaries with a track record of success.

Business Financing is complex – However at the end of the day the financing solutions are actually very well defined – They are as follows:

Leases and Term Loans

Working Capital Loans
Asset Based Lines of Credit
Bank credit lines
Non bank credit lines
Receivables purchasing
Inventory Lines of Credit
Purchase Order Financing
Commercial mortgages
Tax Credit financing

The business owner, and their advisor, should have a very clear focus – That focus is as follows: What is the best financing solution on either a short term or an intermediate/long term basis for the business. Does the business owner or executive clearly understand all the financial options available – what are the criteria for these different options – what are the rates/terms and structures for each option.

Personal Finance Tips From One of Life’s Financial Victims

Good advice without strings is extremely hard to find nowadays, nevertheless, this is what I’m here to do. Yes, I’m offering personal finance tips that are both useful and practical, and what’s more, free of charge. Some of my personal finance tips you may have heard from others, and some you may not. However, even if you’ve heard them before, many of them are well worth repeating. After all, good advice always holds its value and none more so than personal finance tips from one of life’s financial victims. I’d even go as far as to say that not only do they represent sound advice, but these words are good enough to live by.

Always be Wary of Shoes

If you’re a man and married, here’s a peculiar and extremely useful personal finance tip I urge you to listen to. Strange as it may sound, please take note of the relationship between your wife and her shoes. Whenever you first marry, usually things start out quite innocently as simply just several nice pairs of shoes and, of course, some sneakers for wearing outdoor. But all of a sudden, it quickly turns out she’ll need a new pair of shoes for every new outfit for work, despite that she may already have two pairs of black shoes. “Ah”, she proclaims, “but none of my own shoes are like this new pair of black shoes”. Before you know it, you are up to your knees in a sea of shoes just to try and get out the door in the morning. And the problem grows steadily worse. This tip is as much for your personal sanity as it is one of my personal finance tips. Trust me on this one!

Replace your Light Bulbs

Recently I decided to change all of my current standard light bulbs to the energy-saving bulbs that only use a fraction of the power of the standard, yet emit greater light. So I ask you, what makes this one of my personal finance tips?

This is indeed one of my personal financial tips as the new energy-savers cost $35 for the entire house, which I have ascertained will save approximately $50 and $60 per month on my home energy bill. The point being, if you find ways to save money in your home, ultimately you’ll see a positive increase in the balance of your savings account.

Avoid High Interest Terms and Conditions

Credit is all very well, however, should you take the finance option to buy a $500 product, then with an interest rate of 25%, by the end of the finance period you’ll have paid out just short of $1,500 for the privilege. Basically, what I’m trying to say is that if you can save the $500 cash needed to pay for the product, you’ll save yourself almost $1000.

At all costs, try to avoid purchasing any item on a store credit card, as these tend to charge the greatest rates of interest. When it comes to personal finance tips, the best tip I can give you is to avoid high interest rates whenever you go on a spending spree.

These 5 Business Tips Will Increase Your Success

A lot of business people are sitting around scratching their heads wondering, “what happened to my business?”

  • You’re living on an overdraft that’s overdrawn.
  • You’re family and friends keep wondering if you’re ever going to “make it work”.
  • You’re ‘friendly bank manager’ is not so friendly anymore.
  • The few customers you worked so hard to win are disappearing or ‘extending their line of credit’ indefinitely.

So what did happen? A global economic meltdown is “what happened” and things are going to be tough for a while.

However, every cloud has a silver lining and there is opportunity in these times for smart business people who are ready to dig deep and swim against the tide of despair.

Is That YOU?

If that is you – if you’re ready to use this ‘downtime’ to improve your business competitiveness, offer better value and sharpen your focus on your market then read these 5 business tips
I have chosen for you 5 business tips (out of almost 80) that I used to improve my business. These tips, can make or save you money starting today:

  1. Most (if not all of your competitors) are suffering the same way you are right now. Many of them are simply ‘throwing their hands up in the air’. Take advantage of their ‘loser’ attitudes and work harder than ever before to improve your business. You can look forward to making their customers YOUR customers when their business finally bombs.
  2. Make the most of your existing client base – make them exclusive special offers, add more value, ask for referrals. It’s a lot easier to sell to someone you already sold to than to someone you have no history with.
  3. Is your marketing material working for you? Is it clear to prospects exactly what it is you have to offer them. (Here’s a little exercise: Sum up your business in three words or less and do it in 30 seconds). Here’s my business summary as an example – Affordable Website Design.
  4. Cut costs. Even the smallest home business is wasting money somewhere. Route it out and cut it out right NOW. Today!
  5. Network. For small businesses this can be the lifeline that will change everything. Get involved with local business networks, enterprise boards, chambers of commerce, whatever. Don’t spend all day on Facebook with people you’ll never really ‘connect with’. Focus on local groups that actually meet in person every month or so. And don’t try the hard sell on these people. Networking takes time so relax and just help people out when you can. In time they’ll refer prospects to you.

That’s just the start and I hope these 5 business tips help inspire you to take positive action to not only survive the recession, but to beat it and profit!

Project Finance – Tips on How to Acquire It

Many people at one time or another have a project that they want to turn into a reality in mind. It important that should you decide to go ahead with your intended venture, that you have a solid strategy of how to carry it out. Even with a great idea and organization in place, the most essential bit of the project always lies in the funding. Project finance has been used to fund large scale ventures. It is advisable that you understand the basis and aspects of this type of funding.

You need to understand how to prepare a financial plan, assess the risks involved, and raise the money. It is also vital to assess analysis of why some plans have succeeded while others have not. Without proper funding, it is hard to get something off the ground. There are many sources of financing available if you just take the time to look and do proper research. It is also advisable that you create time to gather accurate information on your project especially if it is new. This will tell you if your idea is viable and whether it will appeal to your target market.

Project finance is funding that is used for a particular project like railways, power stations, hospitals, etc which is then reimbursed from the cash flow of the project. It works differently from other forms of finance because the lender looks at the assets and the revenue of the venture in order to service the loan.

The risk associated with borrower is not important as compared to an ordinary loan transaction. The vital elements with this type of funding are identification, analysis, allocation and management of every risk associated with the project. As you go along with your project it is important that you continually review your progress.