Category Archives: Finance & Insurance

Things To Consider When Buying a New Car

If you’re shopping for a new car, truck, or van, you have lots of choices to make. Everybody likes to believe that their choices in big purchases like a vehicle are totally rational, but the truth is that emotion plays a large role. Of course you want a car that is practical, safe, and low maintenance. But chances are you also want a car that’s fun, great looking, and satisfies your need for excitement.

Sometimes those two goals are conflicting. How can you overcome your emotions and make the best purchase for your needs in the long run? Here are some questions you need to ask yourself before you go to look at different models.

Are you considering a hybrid car? Being conscious of our effects on the environment is a big thing these days, and many people feel that doing their part to reduce emissions and pollution is important. That’s probably why many think that buying a hybrid car is a good idea.
Hybrids use a combination of a gas engine together with batteries to reduce emissions. As an added benefit, they also get better gas mileage.

The Toyota Prius is probably the most famous hybrid. However, did you know that if you aren’t driving in rush hour stop and go traffic, you might not use the electric mode of the car enough to justify the reduction in emissions?   Plus the extra cost of the car means that you’re paying more — even after savings in gas — than you would be otherwise.

The truth is that hybrids are great for some drivers and not so great for others. If you’re considering one, you should be realistic about how much you’ll save in both emissions and dollars. It might not be as much as you think. There are other ways to help the environment. Although some states have programs where you can get discounts on insurance (for example, cheap Florida auto insurance may be available for hybrid drivers), you could save just as much by buying a car with good gas mileage and a great safety record. Be sure to get insurance quotes to see how much your insurance will cost.

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Payday Loans the Good and the Bad

You need a $500 loan and you have miserable credit, and even if you had good credit it wouldn’t matter because what bank gives a loan for a measly $500. Payday loans have filled that gap in the lending industry. It’s not worth the time of most banks to issue loans for such small dollar amounts and that is why there are signs all over most towns that read, “$1000 easy payday loan.

These type of places usually have repeat customers – this is bad. If you must use a payday loan institution make it a one time deal. You don’t want to make a habit out of it. Here are the negative aspects of the payday loan industry.

High fees: They are a business and they want to make money. It’s only natural. Therefore the origination fees on most loans run around 17% of the total loan – usually up to $350. That’s a large percentage of the loan. The interest rate can also be as much as 400%. Remember this is compounded annually so you won’t actually owe them 400% of what you borrow, but it can still add up. You can end up repaying your loan plus about 30% pretty easily. If you’re strapped for cash to begin with, it can put you behind again to have to pay that many fees, causing you to have to borrow again. This is great for the payday institutions, but not so great for you, so be careful.

The good:

They don’t check credit. This is obviously beneficial to anyone who has no credit or bad credit. They only require a postdated check to pay off the loan and proof that you have been getting a paycheck.

The loans are short term. You won’t be making payments for years, the loans are meant to last until your next paycheck, typically 2-4 weeks. So if you can catch up in that time period, you will be debt free in a matter of weeks.

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Before You Listen To Investment Tips

So many people have a few good investment ideas up their sleeve, but how good are they really? They will work for some and not for others, that’s the way investment works sometimes. There are bigger factors involved than the say so of another person. There are ways to invest sensibly and there are ways to invest with risk – and the former is preferred to the latter when it comes to sensible investment financial planning.

First ask yourself what you want to achieve. Are you looking for a pay out as soon as possible or do you want to have the money hidden away quietly accumulating money for retirement or at least a few years down the track? The answer to this question will nearly halve the investment opportunities you should investigate further. There could be solid investments that require years of time and ongoing market research. This is obviously not going to suit someone who doesn’t have that sort of time and resources. The opposite is also the case; if you have time and a little knowledge of the long term market you may opt to forgo short term riskier investments.

Next you need to establish how much risk you are willing to take. While risky investments can lead to big pay outs, they are called risky for a reason. Chances are you’ll loose what you’ve invested, sometimes more. If you are willing to loose 100% of your investment then you certainly have a wide range of options. Short term investments and re-investments may be your game. For those who choose not to play the risk card will need to be realistic in the length of time it could take them to achieve large financial gains.

The most important thing to remember though is that all investments involve some degree of risk. Even the simplest decisions can have disastrous consequences if not handled correctly. Know the worst case scenario before you take any investment plunge or you really are asking for trouble.

Once you have a clear idea of what you want out of your investment and the time you have to invest in the project, you can then start looking for and listening to investment tips. Having done this groundwork you’ll be in a better position to understand and wont waste time with ideas that aren’t suitable.

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Best Ways To Sell Annuity For Cash

If you have an annuity that needs to be cashed out before its maturity date, you have a couple of options. Before you begin, be forewarned that neither of these methods will give you anywhere close to the full amount of the annuity to which you would be entitled if you waited until the maturity date.

The very nature of an annuity is to tie up money for a long time. When they are cashed out, expect early termination fees that are quite expensive. You may lose a major part of the profits that you have gained through years of investment. If you must get cash for your immediate fixed annuity, then one of these methods is preferable as it saves the owner of the annuity more money.

The first method is probably the most expensive yet the most widely used way to end an annuity contract. The owner terminates the contract that he or she has with the insurance company. Most annuities have wording in the contract about the option to end the contract early. Ending the contract and investment early will cost the bearer a substantial amount of money due to the surrender fees and early termination fees.

Insurance companies build these fees into the annuity to cover their losses caused by contracts that are ended before maturity. The fees help to cover the losses of the insurance company and to ensure that they continue to make a profit that would otherwise be lost on the contract.

The second option available is to sell the annuity for cash, either in part or in full to another investor. The sale of the annuity can provide immediate cash to the seller. This option works best for those with an immediate need for cash.  After all… you wouldn’t be selling if you had a winning lottery system would you?

While selling the annuity will cost some of the profits from the annuity, this option avoids the expensive termination fees for the contract. Before you choose either method you should speak with a knowledgeable financial adviser. The adviser can discuss with you the tax consequences as well as fees involved with this decision.

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Unsecured Personal Loans for Poor Credit

Unsecured personal loans for poor credit persons is widely available. There was a time when poor credit meant, no loan. Now a days anyone can apply for, and receive unsecured personal loans for poor credit. These loans are basically guaranteed no matter how bad or poor your credit is. This is because your credit score will not be used when determining your approval or non approval when applying for a loan. Your loan approval will be based solely on your signature, and your being able to meet certain criteria. You will not need to ask someone to co-sign with you or to guarantee your loan repayment.

First of all, you need to be at least 18 years of age. You can not enter into a legally binding contract if you are not. Next, make sure you have a active checking account. Most lenders will approve you if you have a savings account, but most lenders prefer you to have a checking account. Next, be sure that your payroll check is set up for direct deposit, into your account.

Make sure you enter your bank information carefully, when filling out your loan application. Inaccurate information can delay for funds from being deposited into your account. Next, you will need to verify your employment or income information. Once you have listed your employment information, and other source of income you can submit your application.

You do not need to list any assets or valuables that you own. You will probably have to do this, if you are applying at a bank, or a credit union (though). With guaranteed instant personal loans for poor credit you are not required to list any previous creditors or current creditors. Once you sign your loan agreement you, and you alone are responsible for the weekly, bi-weekly, or bi-monthly payments.

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