Poor Credit Auto Loans – A Ray of Light for Bad Credit Borrowers

Bad credit score has become a common phenomenon. Almost, everyone has had his/her share of encounter with the dreaded bad credit history. It acts as a major deterrent in getting credit. Loans become difficult because of bad credit. But, it never means that you cannot get an auto loan with bad credit history. Thankfully, poor credit car financing is very easy.Initially, lenders refrained from offering poor credit auto loans. They considered bad credit borrowers very risky and that’s why rejected most applications with bad credit. But, with changing times, lenders have understood that many Americans are dealing with bad credit. And, it’s common sense to offer poor credit auto loans to such a large population.If you want an auto loan with bad credit, it is important that you convince the lender of being a low risk credit borrower. If he is assured of the safety of his investment, he will easily offer you a poor credit auto loan. Here’s how you can get yourself a poor credit auto loan.Your Budget Sets Your BoundaryWhen you prepare a budget, you know the exact amount of money that you can spend on buying a car. It will help you to choose a car without much trouble. With a budget in hand, comparing auto loans programs for poor credit will become very easy. You can easily ascertain if the monthly payments are affordable or not with the help of budget.Get Your Documents ReadyAfter deciding on your budget, you must get together all your documents. Lender will require you to have Income and Employment Proof. You can use your current pay stubs for this purpose. He may also want to see receipts of utility bills. All this will give him a picture of your debt repaying ability.A Used Car is a Better OptionA new car is expensive than a used car. So, when you buy a new car, you will have to pay more. When you have a poor credit score, your interest rates may not be very low and so, it’s best to avoid a new car.It’s better to search for a car after getting approved for a poor credit auto loan. It is possible that the lender may want you to buy a car from a specific dealer only. If this happens, all your hard work of searching a car will go waste. Hence, apply for a car loan first.However, do remember to buy a used car after getting it inspected by your trusted mechanic. Also, check the car title. Do not buy any car that has been salvaged or flooded.Apply with Sub-prime LendersWhen you are ready with your budget and documents, it’s time to apply for a car loan. Now, traditional lenders and banks may reject your car loan application for having bad credit. This is because they usually offer auto loans to borrowers with good credit scores. So, you must not waste time in applying with all lenders.Instead, devote some of your time in research. Search lenders who offer poor credit auto loans and have a high approval ratio. You can easily avail a poor credit auto loan from sub-prime lenders. These lenders have expertise and experience in dealing with bad credit scores. They are able to handle credit issues better than anyone else.Web to Your RescueYou can find many sub-prime lenders with the help of internet. There are numerous online car financing companies that have huge network of sub-prime lenders. All you need to do is search for a reputed car financing company and apply on its website for a poor credit car loan. Once you apply by submitting an online car loan application form, the company will search a lender for you.Compare and Then Sign the ContractWhen you apply with online sub-prime lenders, you will get several poor credit auto loan quotes. Now, it’s your time to choose the best option for you. Choose a car loan quote by considering important factors like interest rates, loan terms and conditions, pre-payment penalties, additional fees, charges, etc. You can make use online car loan calculators to calculate exact monthly payments.You must choose a poor credit car loan program that offers you great ease. You have to make regular monthly payments to pay-off your low credit automobile loan. It will improve your credit ratings and help you in availing lowest possible rates in future. So, search for that perfect poor credit auto loan and start improving your credit score.

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SMART Tips for Saving on Your Auto Loan

Americans love cars. It is one of the reasons why America is amongst the world’s top car-owning countries. Every year, Americans spend several thousand dollars on auto loan payments. If you are looking forward to buying a car, make sure that you follow S.M.A.R.T. tips. The tips will help you save money and ensure that you do not opt for exorbitant auto loans.Follow the S.M.A.R.T. Tips and Save MoneyWhen car buyers have to make a decision about auto loans, logic takes a backseat and emotions become a controlling factor. It is the reason why car buyers say yes to financially harmful auto loans. To save yourself from the possibility of a financial damage, you must follow the tips.S – SpecificThe car is a huge asset. So, it is essential that you understand your requirements before buying a car. It is important that you have a specific image of the type of the car that you want. It will help you stay away from an impulse purchase. Consider the list of following factors because it will help you in choosing your perfect car:1. Total number of passengers2. Gearbox – Automatic or manual gearbox?3. Cargo capacity4. Vehicle performance5. Driving conditions6. Gas mileage7. Safety features8. Technological features9. Parking spaceM – MoneyRemember that even if you opt for an auto loan, you will need to make a down payment of at least 10 percent of the total price of the car. Down payment is beneficial because it helps in reducing the loan amount. If you do not have money for down payment, do not worry. You can trade-in your old car and ask the dealer to deduct its value from the price of the new car.A – Affordable Selecting a specific car will be of no use to you if you cannot afford to buy it. Remember that car expenses are not limited to down payment. You will have to pay money for monthly loan payments, fuel charges as well as maintenance expenses. A general rule is to allocate no more than 20 percent of your total monthly income for car-related expenses. Keep this rule in mind and choose an auto loan that does not exceed your budget.R – Reliable There was a time when car buyers applied for an auto loan with the local bank only. Today, there are several ways of obtaining an auto loan. You can apply with a bank, a credit union, or an online auto financing company.No matter what option you choose, you must ensure that the lender is a reliable one. If you opt for an online auto financing company, check the website’s security certificate. If the website doesn’t have one, stay away from it and save yourself from a potential identity theft.T – Time Car buyers are afraid of rate shopping because they believe that multiple credit inquiries will damage their credit score. But, do not refrain from rate shopping instead, finish it within 30 days. Why?A time-bound search for an auto loan will ensure that you do not harm your credit score. FICO does not consider inquiries made in the 30 days prior to scoring. So, if you are able to get a loan within 30 days, it won’t affect your score. This span of time can change to 14 days if the lender uses older versions of FICO and can increase to 45 days if the lender uses the newest formula.Car buying is one of the most expensive purchases that Americans make. If you do not pay attention to your auto loan, you can make the worst financial mistake of your life. So, avoid making a bad decision and follow the S.M.A.R.T. tips.

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Market Analysis Tips and Tools For Commercial Real Estate Agents

In commercial real estate you need to keep your focus on the trends of the market. You also need to know exactly what exists in your market. Property types, rent types, tenant types, sale prices, and yields all have relevance to the property investor and the strategy that they need to adopt.In times of market and economic change, it is these elements that offer opportunity to buy, sell, and lease property in varying ways. The commercial property market works in cycles, and the choices you make today on a property matter are not likely to be the right choices in a few months time. Property agents and investors that read the market well will make good income from the ‘churn’ of the market.There is no ‘bad’ property market; there is just change and the need to adjust to it. When you adjust, you can do the deals and seize the opportunity. Investors and real estate agents that suffer in ‘down’ economies and property markets are those that struggle with change. Alvin Toffler wrote a great book some years ago on just that point, called ‘Future Shock’. When you understand the principles of change and big events then you can seize the opportunity in the property market at any time. The most successful people in the commercial property market watch for change and move into it with a plan of opportunity.So what do you need to do in this market? First and foremost you need to understand the current conditions which are applying to the market and the subject property.You are looking for indicators which show the:
potential demand for property
absorption of occupied space
future constructed space
business sentiment in the areaThe market study will include an assessment of both the broader region and the local precinct and their potential to satisfy tenant and business growth and decline as it may apply. These two factors alone will largely dictate future rental levels which in turn will affect the potential price of a property.It’s all StrategicEssentially properties that are becoming obsolete are not good investments unless a refurbishment strategy can be applied and be seen to be a successful strategy given prevailing market conditions. Obviously this decision hinges largely on the asset itself and its ability to adjust to refurbishment and or expansion.Occupancy space supply and the success of Commercial Property is influenced by:
competition properties existing locally
land costs current and future
assessments all of all other projects underway
newly constructed properties
demolition of older properties
plans for new properties
building costs in your area currently
rental levels in your area and projections
operating costs for the building
the pressures of available financingThe demand for Commercial Real Estate is driven largely from:
known and predicted pressures and changes on the population
regional and local demographics of the customer and the business community
the spending patterns of the population
growth in major industry locally
natural resources existing to support or require industry
sales volumes of goods purchased (retail property)
rental activity (gross, net, face and effective rents)
incentives offered for new tenants to occupy
services and amenities offered in properties
vacancies now and projected
turnover of sales (retail property)
consumer buying patterns (retail property)
overall prices for comparable propertiesFurther consideration also needs to be given to the potential of expansion or replacement of any competition property within the precinct and also the relationship of such to your subject property. Any competition property needs to be watched for its impact on your investment property.As you can now see, the potential of a Commercial Property cannot be simply assessed from economic activities in the area. There are other pressures which will change and have a reasonable effect on the subject property and these include political changes, legal changes, deterioration of the building fabric, social changes, and rental pressures geared to business sentiment. The property investor becomes a specialist in assessment of these broad investment trends.Commercial real estate agents should monitor all of the above factors to help their clients take up property opportunity as the market allows.

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