Sunday, December 9, 2007
Friday, August 3, 2007
A personal loan can be a vital part of a well executed financial plan. You can use one to consolidate other debts, or to pay for something that won't fit on your credit card - or that will be cheaper with it than at exorbitant credit card rates.
Of course, it makes sense to get the cheapest personal loan that you can find. Here are five steps to finding and getting a cheap personal loan for your needs.
- Be strategic.
Before you start applying for loans, it may be faxless payday loan or a personal loan, get hold of your credit report or your credit score. Knowing where you stand on the credit ladder will help you single out those personal loan products that are aimed at your segment of the loan market
- Check with a trusted lender.
If you already have done business with a lender, or are doing business with a bank or building society, check in with them to see what they can offer you. In many cases, people with dodgy credit will get better consideration from finance companies who know them already.
- Shop around both online and off to find the best loans.
Online, you can take advantage of price comparison sites to check the details on many different personal loans at once. Use the comparison sites as a starting point to help you sort things out - then follow links back to the lending company's own web site to do further research. Offline, check with your local high street lenders to find out what terms and rates are being offered.
- Take advantage of the lender's greed.
There are ways to make your application more attractive to a lender without falsifying any information. For instance, lenders make money on payment protection insurance (PPI), so they tend to look more favorably at loans when the borrower requests it. It's far more advantageous for you, on the other hand, to provide your own standalone PPI. Take advantage of the situation by requesting a loan quote with PPI included. When you receive the paperwork to sign, return it unsigned with a request for a quote without the PPI included.
- Don't judge by APR.
The APR - annual percentage rate - is the figure that you're most likely to see banded around as a loan comparison tool. The truth is that it's easy for banks to manipulate the APR and make the cheap payday loan seem less expensive than it really is. Instead, use the total amount repayable as a gauge if your biggest concern is how much the loan will cost you overall, and the monthly payment if you need to be wary of your monthly budget.
Article source: ezinearticles.com
What’s with the guarantee? Nobody can guarantee payday loans finance, what is guaranteed is the fact that credit score will only have a limited influence on the decisions of approval. The terms and requirements are made available to the applicant beforehand and therefore, the borrower knows for sure that if he meets the requirements listed and that if his credit score is above the minimum required, approval is guaranteed.
Brokers on the other hand, can only guarantee that they will put all their knowledge and expertise to find a lender that suits the needs of the borrower. Those that charge a fee for their services may guarantee approval but the guarantee covers only the result which implies that if the loan approval is not achieved, the broker will return the fees in full. This is called a money back or cash back guarantee.
Minimum Requirements For Cash Advances or Personal Loans
These loans are designed for those that feature a stained credit history and need financial aid in order to get back on track. As long as you are not currently going through a bankruptcy process and even if you have a past (but discharged) bankruptcy, there are financial institutions willing to approve financial products.
The minimum requirements include an income of at least $1000 for the past two or three months (stable income), a checking account which needs to be current and non delinquent and the borrower needs to be at least 18 years old in order to apply (changes from state to state).
Article Source: americanchronicle.com
Tuesday, July 17, 2007
Save yourself time by gathering your contact and employment information before applying for your cash advance. A recent bank statement or a recent check stub should provide all the information you need.
You will also need the routing number from your checking account which you can find on your paper checks. You won’t need these numbers for the online application, but you will need them before your cash advance can be deposited.
Through automated technology, cash advance companies are able to process your application within five minutes. You simply provide your contact information and income history. Instant cash advance loans are not based on your credit history or other financial factors.
Once verified, you will receive your approval notice and instructions to complete the process. Cash advances are usually approved for amounts between $500 and $1000. Overnight your cash advance will be deposited into your checking account through direct deposit.
With online cash advances, you skip driving around town to offices or banks. The whole process is paperless, so you don’t have to fax copies of your paycheck stubs or social security payments.
Applications and deposits are also handled 24 hours a day, so you can apply anytime. Federal holidays and weekends will determine how soon your bank will release funds though.
Cash advance payments are also handled online. On each due date, usually after your payday, your loan payment will automatically be deducted from your checking account. You can choose to have just financing charges paid, part of the principal, or the entire loan amount. Cash advance companies offer flexible payment plans.
Easy To Contact
Reputable cash advance companies make it easy to contact them. Telephone and email are traditionally available. Many cash advance companies are also using instant messaging or fax to communicate with customers.
Article Source: ezinearticles.com
Tuesday, July 10, 2007
Everybody who wants to purchase a car wants to secure the best auto title loan rates. Getting the best rate is not purely by luck but also a skill that one has to learn. For you to survive and be the best in any industry you need to learn the tricks of the trade and become one with the trade. Some hesitate when it comes to negotiations but little do they understand that the negotiations will only help them get the best deal. It will help you save a lot of money.
Here are the steps to follow to get your loan:
• You have to decide and choose your vehicle, the model, what it costs and the loan amount required upfront. You can also calculate on the possible monthly payment to be made, the down payment, along with the interest and fees. You can also get a picture of the repayment period. You can do the above with an online car loan payment calculator
• With the above homework, you can search online, either go to recommended sites or do a search on your own with references you have received
• Choose 3 to 5 companies which give the best offers. The application process is very simple with few personal details to be filled. You can then await their response within a few minutes either by email or directly posting it on the website
• With the offers in hand, you can start your comparison process. You need to compare the rates, fees, their terms and read everything in small print as this can make a huge difference
• Finally short list on 2 lenders and contact them over telephone. The conversation will help you understand the kind of people you are likely to deal with, their intentions and the possible service you will get from them
• Choose your lender after completing the above steps. You can give them your feedback by email, phone or through their website
• Just sit back and wait for their response. Your money should reach you within the next 72 hours.
There are tips to follow to get the best auto loan rates:
• Buy towards the end of the month- Car dealers usually hold contests and the winner is given a good prize which can be monetary or physical. Towards the end of the month, the salesmen are pressurized to do their target and will aim at getting customers to make a sale. This is the time for you to negotiate for a good price for your vehicle. The lower the cost of the vehicle, the better the terms you are likely to get for your loan
• Have Good Credit- If you have a good credit, you have strong grounds to negotiate on your terms for your loan. The lender is obliged to offer you if he feels you are a potential customer. If you have a bad credit score, you need to work on rebuilding your credit score for getting the best deals.
• Negotiate your auto loan- Never try to give out the best possible monthly payment you can make. You need to understand that there are several car dealers and lenders who can offer better rates. So never accept the first offer given and start negotiations at the lowest possible rate
Article Source: ezinearticles.com
Points To Be Noted Before Applying For A New Auto Loan
The primary factor to be considered prior to applying for a new auto loan is your present financial position. Since most car loans are for a period of five years, decide how much can be afforded as a monthly payment for the next five years. Further, comprehensive research needs to be made on the various lending firms, the prices and terms and conditions of each of them. Car loan calculators are provided by most online lending firms that aid you in the different computations involved while selecting the best loan option. Additional things such as undercoating and tow packages which only adds to the cost of the car should be avoided while acquiring new auto loans.
Although difficult to believe, many a time it is easier to get bad credit auto loans than to get a new credit card. New auto loans are given in spite of a poor credit history, as in many cases it is possible to offer the new vehicle as collateral for the loan. Placing the vehicle as collateral provides lending firms a compensation in the event of non payment of the loan. Due to this, there are numerous lending institutions that are willing to not only offer but also specialize in providing new auto loans to people with a bad credit score.
New auto loans do have certain advantages such as factory support, complete warranties and lemon law coverage. It is also possible that the interest rates on new car loans may also be considerably lower. However, the high prices of new vehicles provide little scope for price negotiation. In this event the loan amount of refinance car loans is generally high. Obtaining these loans also make you vulnerable to depreciation.
Purchasing a new car is no longer an unobtainable dream as new auto loans are widely prevalent today. Car loan calculators are available with most lending firms who also offer bad credit auto loans and refinance car loans.
Article Source: americanchronicle.com