Everything You Should Know About Car Finance

Dreaming of owing a car and actually owing the car are two different things if you consider the statement from the point of view of the money involved. You can always dream of owing the fastest supercar, but ‘can you own it’ should be the question that crosses your mind. Moreover, even if you can own the car, how do you plan to purchase it? Commodities like cars are high-value items and you cannot simply go to a showroom and pick up the car of your choice by paying the full amount in cash! Even if you have the money, due to taxation rules, policies and regulations, it would be a bit difficult to seal the deal, if not impossible.

The Option of Car Finance

Car finance enables you to own a car without the hassles involved when filing your tax returns. It would be wise on your part to get a car finance done instead of paying the full amount (in case you’re capable of). The next thing you should do in such a case is that pay the remaining amount in greater installments within a few weeks so that you do not lose money over the interest of the finance taken. In case you’re one of those who are grappling to come up with the blow of the recession, car finance is THE best option for you.

If you do not understand what car finance is (or have a vague idea about the same), the best thing for you would be to get a car finance broker, who will make sure that you get the best deal – after all, his job is to get his customers the best car finance options available there!

Car Finance and Types

Yes, much to your dismay, it can be of 3 types:
• Leasing – PCP (Personal Contract Purchase)
• Hire Purchase
• Car Loans

When using a car leasing option, PCP is a good option for those who are not looking at high value deals. The good thing about the option is that you actually have the option of owning the car and not purchasing it or purchasing it after the end of your lease period. You obviously won’t have to pay the full amount of the car after the lease period (2 or 4 years) but the remaining amount (lease amount paid deducted from the actual value of the car) – a great option when you frequently change cars or want to have a ‘feel’ of the car before actually buying it. The only drawback being the restricted mileage you can clock on the same.

Hire Purchase gives you the option of owing the car at the end of the agreement; though you still own the car when you shell you monthly installments for the car. The monthly repayments are likely to be higher than the PCP, here.

Car loans are tough to get in these days with credit policies having become more stringent. Otherwise this was a good option if you were looking at a higher value car.

Taking a Financed Car to Mexico and Insuring it Properly

Everyone wants to take their new vehicle on a roadtrip. You have the dependability and all the luxuries afforded by a new vehicle. If you are planning a roadtrip to Mexico, it makes perfect sense to take your new ride across the border. However, if you are financing the vehicle, there are some important steps that need to be taken before heading off toward your Mexican adventure. You will need to contact your lienholder for written permission to take your financed vehicle across the border. You’ll need to allow your lending institution ample time to issue permission and get the document to you. Finally, you’ll need to get Mexican insurance to cover the vehicle for the length of your stay south of the border.

Temporary Import Permits

When driving into mainland Mexico, you must obtain a Temporary Import Permit for your vehicle. This is to help govern the introduction of foreign vehicles into Mexico. These permits are issued for the length of your stay in Mexico with a maximum time allotment of six months. Permits can be renewed prior to the expiration date for extended stays. All permits must be returned to the border authorities before leaving Mexico.

Contacting Your Lienholder

The first and most important step is to contact your specific lienholder and notify them of your plans to take your financed vehicle out of the country. There may be special requirements or an approval process that needs to be completed before permission is granted to enter Mexico with the vehicle. The lienholder may have restrictions on the length of time they will allow you to have their vehicle out of the country, so be sure to ask. Your account must be in good standing with the financial institution and certain lienholders may require a minimal amount of credit history established before permission will be granted. Keep this in mind if you just purchased the vehicle.

It will take your lienholder time to process your request for permission to take the vehicle across the border into Mexico. Typically permission can be granted within 48 to 72 hours. During the busy holiday season, lienholders receive a high volume or requests, so turn-around times of a week or more are not uncommon. You will always want to ask your particular lienholder what the expected time will be for processing your permission request. Most lienholders can fax or even email the permission letter to you for faster service.

Obtaining Mexican Insurance

Most lienholders will require proof of insurance for Mexico before issuing a permission letter to you. A few lienholders may require specific coverage limits and deductibles, so be sure to ask for any special requirements when you contact them about your permission request. It is easy to obtain Mexican insurance online prior to your trip. There are several reputable online sources, but make sure to look for some important features of the coverage offered. These key features include the policy deductibles, limits of liability, additional benefits such as road and or travel assistance, and if the policy allows for repairs to be made in the US or Canada. This last item can be particularly crucial with new vehicles for a couple of reasons. First, the lienholder may require any repairs to be done in the US, and second, with newer vehicles, the parts and equipment along with properly trained technicians to perform the repairs may be virtually impossible to find in Mexico.

How to Get Great Car Financing Plans

The thrill of getting a new car, especially if it is your first one, is definitely incomparable and inexplicable. But the burden of paying for the car is not. This is why many people rely on car financing. Car financing or car loans are perhaps the most common kind of loan today. But despite this, many people still do not know how to shop for these types of loan plans. Here are some ways to get great auto financing plans to help you enjoy your car even more, knowing that you bought your car getting the best deal available.

Know where to shop:

In order to get the lowest interest rates, you need a good credit history. But what if you do not have the best credit history? Worse, what if your credit history is actually bad? Fortunately, there are car financing plans for people with bad credit or no credit history at all. The interest rates may be higher than the standard plans, and the financing plan may require a down payment, but it is definitely better than nothing. Of course, not all dealers allow people with bad credit to get this type of car finance plan, so it is best to look around. The best place to shop for bad credit car financing plans is on the Internet, where you can easily compare prices. Even if your car dealer has an in-house financing department that can accommodate your needs, it is best to search before you settle.

Foresee future cost

Many buyers choose cheap car financing plans upfront, without checking if the plan is indeed cheap. This is because the total cost of the plan may be more than the actual worth of the car, even if you consider interest rates. When shopping for auto financing plans, it is best to go for loans that may not seem so cheap now but can actually help you save money in the long run.

Know your limits

Of course, since we are talking about car financing plans you are not going to pay for the car in full. However, are you sure you can really pay for the car in the long run? It is always best to know your limits financially. Track your budget to see if how much your car finance plan payments would be for the car you would purchase. In a way, this tip compliments the previous one. You should know your financial limits for the long run, possibly until you are done paying for the car loan.

Avoid penalties

Some car financing plans have penalties, but they are often not called “penalties” in the fine print. To understand the contract better, employ the help of a legal expert. Also, choose plans that give you the option to pay extra payments, or pay the entire loan without any penalties of any sort. When choosing a car financing deal, go for the most flexible plans. Your budget is not static, and your financial status can change, for better or worse. You need the flexibility to keep up with your payments.

Bad Credit and Special Finance Car Dealer Leads

Are you looking for ways to get an increased number of car leads? Well, then you should try out the internet. Previously, when the internet has not emerged, people used to take a buying decision looking at the adverts in newspapers, business magazines, and seeing the billboards at strategic locations on different streets. With the advent of the internet, the entire sphere of advertising has drastically changed. Nowadays, shoppers prefer to search for products or services online rather than spending time reading the newspapers or watching commercials on TV. Just like every other shopper, car shoppers also heavily rely on the internet to find the car they want to buy.

The truth is the number of online car shoppers has increased; hence the dealers are seen taking different online marketing strategies to attract the car dealer leads to their website. Best of car leads service providers have multiple websites on different popular search engines (Google, Yahoo, Bing, etc.) to capture the attention of potential auto buyers. While many of you would say why waste money on a professional car leads generator when the in-house marketing team can bring maximum leads to boost your car sales. My answer is yes, although we can very much take the help of our in-house team the fact remains in many cases we have seen leads generation dropping to a great extent because of the lack of adequate resource and effort. Time also plays a big role because the marketing professionals must research extensively to find the best of marketing techniques to boost leads generation.

Internet leads generators have an experienced team of marketers who spend hours looking for different online channels using which they can get a high number of online automotive leads in quick time. It may not be possible for an inexperienced team of marketers to produce the same amount of leads as that of a professional company.

Another key role that a professional car leads generating company takes up is regarding generating bad credit leads. People are considered to have a bad credit if they have a bankruptcy, slow payments, late payments, default, unemployed, filed a divorce, etc. While these people may want to buy a car, traditional lending institutions such as banks refuse to lend them money. Banks term such people as “high-risk” clients. These people get upset since their dream of owning a vehicle seems a distant reality.

By offering discounts and a low rate of interest on auto loans, lead generation companies can attract a large number of people with a bad credit. Special finance leads are also generated these professional lead generators with the help of multiple car leads sites, landing pages, email marketing campaigns.

The websites contain an online inquiry form which the car dealer leads fill up to know more about a deal. After submitting the online form, the data in the form gets stored in the lead generator’s database. The information is checked and likewise a communication takes place with the lead to learn more about his interest about buying a car. In the process, quality leads are separated and the personal information of such leads is sent to the car dealer for taking a call to action!

Matthew S Barredo is an expert researcher of car dealer leads. He has over 7 years of experience in the genre of finance auto leads and the same. In this article, he has tried to educate the readers about how to generate Online automotive leads fast with the help of a professional car leads generator.

Best Practices to Selling a Financed Car

You initially financed the car that you are about to sell. If you are wondering about the steps you need to take in order to legally, and safely turn your car over, then you are reading the perfect article for this sake. Now, if the lean has been released, and you are the sole owner of the car, then reading this article would be additional information that you may not need, rather pass onto friends and family.

In case you still owe money on the car, then you need to start by contacting the lending bank or dealer to discuss the best way to pay off or close out the loan. You also should inquire about the necessary requirements to obtain a lien release, or a statement stating that the remaining obligations on the car if any and if not also stating that it has been paid off.

If you find out that you owe more money than you can pay prior to selling the car, consider mediator service that would facilitate payment to the lien holder during normal escrow. There are such services on the internet easily found using search engines, or visiting my website for an analysis of these services. If you are not able or not comfortable with the above mentioned methods, consider closing the sale deal at the bank, credit union, or the dealership that holds the lien, this way the buyer can payoff the balance, release the lien, and pay you the remaining agreed upon amount. Make sure you contact the lending entity prior to setting up such arrangement, and schedule and time and date.

Finance Ministry speaks against offshore ban

The Latvian parliament on February 1 passed in the final reading the legislative amendments banning companies that are registered in low-tax countries, or the so-called offshore countries, from taking part in public tenders in Latvia.

The Finance Ministry, the Procurement Monitoring Bureau and legal experts reviewed the parliament’s decision and concluded that it was inconsistent with the international law.

“One cannot impose restrictions on business activities of a company based solely on its domicile,” Reizniece-Ozola said, adding that it would be different in case of tax evasion or money laundering but the country of incorporation alone cannot be the reason for declaring a company ineligible in public tenders.

The Finance Ministry is working on a report explaining its argumentation that it will ask Latvian President Raimonds Vejonis to consider before promulgating the bill.

“If the President promulgated the law, there will be litigations because those legislative amendments amount to discriminatory treatment of companies,” the finance minister said.

Unity and the Union of Greens and Farmers support the proposal by their partner in the ruling coalition, the National Alliance, to ban offshore companies from participation in public tenders in Latvia but are concerned about the proposal’s compliance with the EU directive.

The Latvian Chamber of Industry and Commerce supports the proposal to ban offshore companies and Latvian companies controlled by offshore companies from participation in public tenders.

Government moves to tighten up Latvia’s sanctions law

The draft law establishes the time of coming into force of national sanctions, provides for taking sanctions into account in public procurement, mandates the need for setting up internal control systems, supplements the list of competent institutions and creates their right to impose penalties for deficiencies in the internal control systems.

The amendments “are necessary to address the shortcomings identified during the implementation of the law, to improve transparency of the legislation governing sanctions-related issues, and to bring the Sanctions Law in line with international requirements,” the government said in a release.

Amendments to the Sanctions Law still need to be adopted by the Saeima, and in an unusual move that underlines the urgency of the action, the cabinet said the law “is expected by the end of the current parliamentary term”. The next parliamentary elections take place in early October, meaning it is planned that the law should be passed within the next three or four months.

Once passed, all natural persons and legal entities will be under an obligation to comply with and execute sanctions that are in force in Latvia and indeed will have a duty to prevent the violation of sanctions.

The draft law also lays down that national sanctions imposed by the cabinet on persons come into force immediately – on the date that the Prime Minister signs the Cabinet Order containing the list of subjects of sanctions. This instant application should help prevent the subjects of sanctions having a chance to move their assets before sanctions come into force.

The draft law also adds the State Revenues Service (SRS) and the Consumer Rights Protection Centre (CRPC) to the list of competent institutions, stipulating that the said institutions are in charge of control over financial restrictions and restrictions under civil law in regard to persons under their supervision as listed in the draft law;

Those under supervision by the Financial and Capital Market Commission (FKTK), the SRS and the CRPC are obliged to carry out risk assessment concerning sanctions, whilst those supervised by the FKTK are obliged to establish an internal control system. However, the duty to set up an internal control system on sanctions will take effect only on 1 May 2019 “thereby giving time to the supervised persons to make the necessary preparations,” the release said.

In future there will also be stricter application of sanctions in the field of public procurement, imposing an obligation to check whether candidates or tenderers have been targeted by any sanctions, as well as the obligation to provide for in public procurement contracts the right to unilaterally withdraw from the contract, should its implementation be impeded by sanctions imposed during the contract period. This provision will not apply to procurements or procurement procedures launched or announced before the provision takes effect.

Finance Ministry raises economic growth forecast for 2018 to 4%

The draft law establishes the time of coming into force of national sanctions, provides for taking sanctions into account in public procurement, mandates the need for setting up internal control systems, supplements the list of competent institutions and creates their right to impose penalties for deficiencies in the internal control systems.

The amendments “are necessary to address the shortcomings identified during the implementation of the law, to improve transparency of the legislation governing sanctions-related issues, and to bring the Sanctions Law in line with international requirements,” the government said in a release.

Amendments to the Sanctions Law still need to be adopted by the Saeima, and in an unusual move that underlines the urgency of the action, the cabinet said the law “is expected by the end of the current parliamentary term”. The next parliamentary elections take place in early October, meaning it is planned that the law should be passed within the next three or four months.

Once passed, all natural persons and legal entities will be under an obligation to comply with and execute sanctions that are in force in Latvia and indeed will have a duty to prevent the violation of sanctions.

The draft law also lays down that national sanctions imposed by the cabinet on persons come into force immediately – on the date that the Prime Minister signs the Cabinet Order containing the list of subjects of sanctions. This instant application should help prevent the subjects of sanctions having a chance to move their assets before sanctions come into force.

The draft law also adds the State Revenues Service (SRS) and the Consumer Rights Protection Centre (CRPC) to the list of competent institutions, stipulating that the said institutions are in charge of control over financial restrictions and restrictions under civil law in regard to persons under their supervision as listed in the draft law;

Those under supervision by the Financial and Capital Market Commission (FKTK), the SRS and the CRPC are obliged to carry out risk assessment concerning sanctions, whilst those supervised by the FKTK are obliged to establish an internal control system. However, the duty to set up an internal control system on sanctions will take effect only on 1 May 2019 “thereby giving time to the supervised persons to make the necessary preparations,” the release said.

In future there will also be stricter application of sanctions in the field of public procurement, imposing an obligation to check whether candidates or tenderers have been targeted by any sanctions, as well as the obligation to provide for in public procurement contracts the right to unilaterally withdraw from the contract, should its implementation be impeded by sanctions imposed during the contract period. This provision will not apply to procurements or procurement procedures launched or announced before the provision takes effect.

Personal finance: Five ways to make the most of your savings

Working out how to make the most of your savings might not be top of your to do list right now – but it should be. Here are five easy tips to get your savings working as hard as you do.

1. Create a savings plan
You know that savings are important and perhaps you have a figure in mind of what you would like to have in retirement or how much money it is going to cost to put the children through university but you probably do not have a clearly defined finance plan in place.

Approach your plan by considering if your saving aims are short or long-term. If you’re saving for the short-term, planning a luxury holiday or buying a new car for example, you’ll want to have your money somewhere easily accessible such as in a cash ISA.

If you’re saving for a longer-term goal, to help children through university or retirement, you could consider investing in the stock market.

2. Understand investment risk
Your risk profile is the amount of risk you’re willing to take with your money and your capacity to deal with any losses. For example, if you lose some or all the money you invest, what effect would this have on your standard of living?

Every investment has some risks. Putting money in the bank means you won’t experience a fall in your investment. However, you could find that the buying power of your money reduces over time due to the impact of inflation. Putting your money in higher risk investments such as shares and property could potentially lead to higher returns over a longer period but you need to be aware of the risks involved.

3. Choose the right investment
Once you understand your level of risk start to look at your investment options. Do you want to stay safe in cash or go high risk or are you somewhere in between? The most common types of investments are cash, fixed interest, stocks and shares and property.

Cash: We’d suggest that you should have at least a rainy-day cash fund that is easily available for any unexpected expenditure such as a new boiler or if you can’t work for any reason.
Fixed interest investments: These are also known as bonds and generally pay interest for a fixed period. They are mostly considered a lower risk asset than shares.
Shares: There are different ways to invest in the stockmarkets from buying shares in individual companies through to investing in funds. If you want access to shares but don’t feel your nerves can cope with the ups and downs of the markets, you could consider a with profits fund.
Property: Bricks and mortar have been a popular form of investment although they offer no guaranteed returns.
4. Spread your risk
Consider putting your money in a range of assets so that you won’t be dependent on any one type. If there are fluctuations in the stock market and your shares don’t perform as you’d hoped, you’ve still got funds invested in a cash ISA or property for example that may give you better returns. Many funds will also spread investments across different asset classes to diversify risk.

5. Review regularly
Once you have your savings plan in place make sure you review it at least once a year. Not only will this help you to ensure your cash accounts are offering competitive interest rates but you can also review any underperforming funds.

If you’re not sure where to begin with your savings plan or want to better understand the options open to you based on your risk level talk to a financial adviser who specialises in working with GPs. They’ll be able to work through your plan with you, ensure it stays on track and that your money is working as hard as you are.

Racing Awards, Medals and Customized Gear for Runners

Running, whether it be a 5k with the family, a 10k for an extra challenge, or a marathon for the elite runners, can be a very exciting and memorable experience. Running is a very personal sport to lots of people, as it can be great exercise and can make you look and feel very refreshed. Tons of awards are given out to winners at races each year. For people organizing these racing events, finding customized and personal running gear can be difficult, as well as finding unique prizes for running champions. When orchestrating a race, you want to have a memorable competition. Medals and unique prizes can help to make the race more exciting. Participants can keep prizes as souvenirs, and remember the experience better because of a keepsake.
The most important souvenir a competitor can take home is a winning medal. Those are worn with pride, and showed to family members and friends. They are often hung on walls, or shown off where they can be seen. Of course, medals need to be personalized, unique, and specific. You cannot award a running champion with a medal that doesn’t recognize what it’s for. It is often a perfect idea to find a company that will provide you with customized prizes for winners. Often, you can ask for customized medals that include the date, the name of the race, and the name of the company sponsoring and orchestrating the event. That way, when people proudly show their winning medal to others, the people who made the event happen will receive the credit and publicity they deserve.

In addition to medals, running apparel and gear can be a great way to make the race more memorable. Unlike medals, gear is commonly worn and would be used often. Passing out swag, such as customized shirts, jackets, hats, and bags can be a great way to add to the excitement of the race. Races with their own gear are viewed as more unique, as they have customized logos and attractive designs. Shirts can be given out to families, and jackets can be sold at the finish line. Hats can be passed out before the race to keep the sun out of the athlete’s eyes. And, of course, bags can be kept forever and used for multiple occasions. Having the name and date of your race on these items can help to increase publicity and help the runners remember what a successful and memorable race it was. Customizing these mementos can help to define a great race, and will definitely help a race to be more exciting and enjoyable.