Tag Archives: Loans

You Can Save Money on a Car Loan

Shopping for a new car can be an exciting process. You get to test drive a number of models and get a feel for the car you really want. But there is another matter that must be addressed — a car loan. Car loan interest rates vary tremendously and can cost you hundreds of dollars in interest payments if you are not careful. Here’s how to get your Cibil Score Reports.

New or Used?

Are you buying a new car or a used car? The best loan deals are always on new cars as they last longer and the risk to the lender is lower. You can still get a good rate on a used car, but most lenders won’t allow you to borrow for an older vehicle. save-moneyWhen shopping for a new car, you should know that those low, teaser rates are often not for everyone. Indeed, you typically have to have excellent credit with a credit score of 760 or higher to qualify. You might still be able to secure a loan with less than stellar credit, but that 1.9 percent rate may turn out to be 3.9, 5.9 percent or higher.

Shop for a Loan

Your car dealer may be only too happy to finance your loan. That’s okay if the rate is great, but never assume that it is the best rate you can find. With thousands of lenders wanting your business it pays to shop around.

That shopping around should include your current bank or credit union. Often, if you already have an account with a financial institution, they’re more than happy to lend to you too. And, that rate may come in slightly lower than their advertised rate, saving you money.

Put More Money Down

You want to borrow money, but the banker doesn’t want to finance the entire amount. He wants you to put money down, funds that will increase your “skin” in the game.

If possible, raise your down payment amount to curry the favor of the lender. A banker may be more willing to lend to a consumer with 20 or 25 percent down than one who can only raise 5 to 10 percent down. You’ll also come away with a lower interest rate and more manageable payments when you put additional money down.If you follow below all steps your are bound to get Boost in your Cibil Score.

Avoid the Add Ons:

Your new car costs $30,000 and you plan to finance $24,000 after paying sales tax and the related fees. If you are not careful, other costs could be added, driving up your final price.

Those costs can include warranties, what can add thousands of dollars to your costs. If you want an extended warranty, pay for that separately or wait to buy one until you have owned the car for a while. Never add the cost of an extended warranty to your car loan. You’ll drive up your cost and pay interest on the warranty you haven’t used yet. That’s crazy and something you should avoid at all costs.

Take the Rebate

The manufacturer is offering you either zero percent financing or $3,000 back on your new car. That money back can be applied to your down payment, reducing your overall costs.

What should you do here? Should you get a loan with no money down?

It may be better to simply arrange your own financing and have the rebate applied to your down payment.

How Can You Promote Your Business?

For a business to be successful, you have to do what it takes to promote it. It is the most essential part of the business. It expands the customer base by making the business known wide and far. It does not matter the method you use to advertise and promote your business. The end results are the ones which mean a lot. Whichever way you choose, ensure you do it perfectly.  All the ways are different in terms of labor, time and money. In fact, some methods may require you to take a loan in order to be successful. Here are suggestions on how to promote your business.

Create a logo or a brand image. This influences how your consumers perceive you. If you ensure that your logo is all over, you will be advertising your business without much effort. Place it on your business cards, signatures in the emails, brochures and all your merchandising materials which includes aprons, cars and even t shirts.

Have a business network. Having business professionals especially who have the same interests as you. You will brainstorm ideas and move together as a group. Make sure they are people you trust so that they do not go behind your back. You may meet such groups on the internet or on the newspapers and magazines. Hand out your business cards to other people.

Ask your customers to spread news about your business. So that they feel motivated, you can offer discounts every time they bring a customer.  This means they will do their best to spread news to family and friends. Advertising through word of mouth is very effective and workable. When the people who have been referred to you come, you can give them stationery with the business logo. That way you will not require to spend a lot of money to advertise your business. You can click this link for more information.