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Car Loan Advice

Posted by admin in LoansJan 16th, 2011 | No Comments

Before you head to the dealership for your new car, you should know the ins and outs regarding auto loans. Shopping for a new car is exciting and it is easy to get emotionally swept away.  Here are a few pieces of advice to help you out. If you have one particular model in mind, be open to other comparable models. Keep in mind also if your choice is practical for how and where you drive. 

Check the internet for safety record of the car you want. Do your homework, read reviews and hear from current owners of that model.  You should also have a amount in mind of what you can afford. Don't let the salesman talk you into something you will have trouble paying for. Cars depreciate quickly so the three year loan is a better choice than a five year loan.  

A quick spin around the block is not enough of a test drive. Get on the freeway, go up hills and this test should last a half hour to be done right.  You can then check out discountvouchers.org for discounts on car insurance and also car rentals. You can also save with coupons offered for all kinds of items that are used everyday. 

Getting a mortgage is always hard for the self employed

Posted by admin in LoansFeb 27th, 2009 | Comments Off

In a depressed market, it is becoming increasingly difficult for most people to acquire a mortgage. For the self employed where a pre-requisite for consideration would be evidence of steady income, this probability would seem to be reduced further. And even if you can find a lender, you may have to pay higher interest rates, larger down payments and generally have less choice.

However, it can be done. The first step would be to find a local lender who knows you well and you can work with face to face. You will need to have at least two years worth of tax returns, several months of both personal and business bank accounts, several forms of ID, plus any commercial licensees appertaining to your business practice. You will also have to provide some form of guarantee of continued rental payment by your landlord over a period of time. Added to all of this, the lender will also expect to see receipts of work carried out to establish an idea of what your potential monthly income is.

There may also be other hoops that your lender wishes you to jump through before conceding to your request for a mortgage, but with perseverance you too, may soon be climbing the property ladder.