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Home Buyers Struggling to Raise Deposits

First Time Buyers Up in 2017, but Deposits Still a Stumbling Block

After years in decline, the number of first time buyers rose in 2017. But so did the average deposit they needed to get a foot on the property ladder.

Over the past decade, the number of first time buyers has been stuttering, as those looking to strike out on their own have struggled against a tide of rising house prices. But figures released by the Halifax suggest that 2017 saw a turnaround, with around 359,000 first time buyers completing their purchases during the calendar year. This is almost back to the number reported in 2007.

Yet while the figures give cause for cautious optimism, mortgage brokers in Essex warn that the average deposit first time buyers need to find has almost doubled over the same period, from less than £18,000 in 2007 to more than £33,000 in 2017.

Help to buy

The report suggests that low interest rates and the government’s help to buy scheme have combined to push younger individuals and couples back toward the idea of buying. This comes after several years in which a growing number have seen little option but to rent. This has led in turn to the growing trend of those with money in the bank choosing buy to rent as a lucrative investment option, and making more people than ever into private landlords.

Are the latest statistics an indicator that home ownership will see a swing back towards owner occupiers? Perhaps, although in some areas, it is still almost impossible to amass the necessary funds to put down a deposit.

Geographic variation

It will come as no surprise to hear that the most expensive place to set up home is London, where the average deposit needed is an eye-watering £112,206. In the borough of Brent, the average first time property price was around £365,000, almost 13 times the gross average earnings for UK citizens.

At the other end of the scale, the picturesque borough of Copeland, on the edge of the Lake District in Cumbria, was the most reasonable, with the average price of around £82,000, or just under three times the national salary.

The nationwide average price paid by first time buyers is about £208,000, and the average in Essex stands at around £250,000. This is still more than eight times the average salary. However, more first time buyers are setting up home in the south east than anywhere else. How are they managing it?

Longer mortgage terms

Government initiatives might assist with the problem of finding that all important deposit, but that still leaves the balance of the mortgage to consider. In days gone by, the traditional calculation involved three times the household income for a mortgage over 25 years. Today, there are far more variations.

As house prices have risen faster than salaries, a growing trend has emerged towards longer mortgage terms. Ten years ago, 48 percent of first-time buyers went for a mortgage term between 20 and 25 years, and 38 percent were between 25 and 35 years. Today, the pattern has essentially reversed. Just 26 percent go for a 20 to 25 year mortgage, while 56 percent have gone for a term in excess of 25 years.

Generation Game

The Rise and Rise of Corporate Entertainment

Investing In The Happiness of Your Team

Corporate entertainment is an industry that’s just kept growing and growing in recent years.

Companies are keener to outdo their rivals than ever, and one of the most effective ways of doing this is to show their staff and clients how much they value them. It’s no surprise then, that corporate entertainment is big business. Over the past decade, companies have been going bigger and bolder with their yearly celebrations, and often call on an experienced events company to give them a hand. Here’s why the corporate entertainment industry has continued to grow, even in the most challenging economic climates.

Showing staff they are valued

Corporate entertainment is a very modern phenomenon. For many people, a staff party used to be a no-frills trip to the pub or a meal at a local restaurant. Now though, companies are keen to show how much they’re willing to invest in the happiness of their workforce. Treating your staff well isn’t just an excuse to have a party though. By doing this, bosses will inspire an immediate pick-up in productivity in the short term, and a deep loyalty to the company in the long term. So it’s a smart thing to splash out on!

An event for everyone

There are so many different kinds of team building events for employers to choose from. There will be some that workers will have encountered before, such as pub quizzes and treasure hunts. They’re the perfect kind of events for a company trying their hand at team building for the first time, or those who are sceptical about its benefits. For the more adventurous company leaders though, the options are endless. Baking competitions, casino evenings and even a Crystal Maze experience are all things that you can gather your team to take part in.

Boosting client relationships

The benefits of corporate entertainment have been proven. There’s no faking a genuine emotional connection, and yet sadly that’s something that can often be neglected in business. Corporate events don’t just boost the mood in the workplace – they boost client relationships too. When you don’t see someone every day it can be hard to maintain a connection. A well thought out event can really make the difference. A recent survey found that over 80% of senior business managers thought that corporate events strengthened personal relationships with their clients. There’s no arguing with those numbers.

Think big

So why not think outside the box for your next corporate event? It’s been proven that pushing the envelope has real benefits, so don’t settle for an end of year meal or some hastily arranged drinks. Your clients and your staff have been boosting the fortunes of your company all year, and it’s only right that you lay on some first class corporate entertainment. That’s what’s propelled the industry in recent years – bosses are keen to show that they care about their team.

The industry has never been in better shape

It may be too late to arrange some great corporate entertainment for this year’s winter festivities, but why not make it your New Year’s resolution to arrange something for 2018? Adding some regular events to your company schedule will ensure that you have a happy, hard working team from January to December.

MS Future Decoded 2017

Future Decoded Highlights Rise of AI and Microsoft Azure

Emerging Technologies Take Centre Stage at Microsoft Event

This year’s Future Decoded event covered a range of areas, but the hot topic of AI was ever-present and crept into every discussion.

31 Oct and 01 November saw tens of thousands converge on London’s ExCel for this year’s Future Decoded. Since its inception in 2014, the event has rapidly gained recognition as the place where future trends can be pragmatically discussed and the most influential players in the industry can join together to shape the technology of tomorrow.

The discussions and keynote speeches covered the whole gamut of technological innovations, but Objective IT software developers could not help but notice that there were two topics that really dominated proceedings. These were the continuing advances in Artificial Intelligence, and of Microsoft Azure.

Julia White on AI and Cloud Tech

Microsoft’s VP of Cloud, Julia White, had a 20-minute slot on the first morning, in which she focused predominantly on these two issues, in particularly the concept of the hybrid cloud. Historically, the industry has tended to compartmentalise private and public cloud tech – Azure has been built with the single-application hybrid concept firmly in mind.

White also gave some engaging demos of how AI has crept into our lives at every level. These included an interactive car insurance site, where the site will immediately spot if you have uploaded a picture of the wrong car, and a chatbot adapts to your language and is able to get you the best deal.

Perspectives on AI

Examples like this suggest that there is a growing gap between public perception and the real-world advances in artificial intelligence. Perhaps it all comes down to the name. Over the past four decades or more, we have been exposed to so many books, movies and even computer games that deal with the concept of artificial intelligence, that we cannot help but have our perspective clouded.

The point is that AI is not about sentient computers becoming self-aware or little robot children that just want to be loved. But if it is even the case that those of us within the industry cannot help but make these mental connections from time to time, what hope does the average layman have?

Phrases like machine learning or even intelligent technology sounds less like the stuff of Hollywood blockbusters and allow us to focus on how the technology can be further developed in practical ways to help with day to day problems.

Take White’s example above – renewing car insurance is something we all have to do from time to time. If you can chat instantly with a bot to get the best deal, that’s clearly far less hassle than being stuck on the phone for half an hour talking to someone at a call centre on the other side of the world.

Building a better future

Future Decoded featured a number of other case studies showing AI and Azure in action. Microsoft blogger Martin Boam tweeted from the event to share remarkable footage of how the applications, coupled with drone technology, helped in the aftermath of the recent hurricanes. A perfect example of how emerging technology can make a big difference to people’s lives, and a demonstration of why events like this are so important.

Silver splitters

How Do Silver Splitters Divide Wealth?

The Increase in Older Divorcees Makes for Financial Complications

More over 60s are deciding to divorce than ever. This can lead to headaches and complexities when it comes to agreeing on the division of wealth.

Since the turn of the millennium the number of divorces has seen an 18 percent drop. Experts are keen to come up with a variety of reasons for this, ranging from fewer people getting married in the first place to the fact that so many living together for years before marriage, means there are fewer instances of “marry in haste, repent at leisure.”

There is, however, one demographic that is bucking this trend. The number of over 60s deciding to get divorced has risen dramatically over the same period. In 2000, approximately 6,400 men and 3,600 women over 60 got divorced. In 2013, this had gone up to almost 10,000 men and 6,200 women.

According to one of the best divorce lawyers, this rising trend in silver splitters can create greater degrees of complexity than those who divorce earlier in life. While the pain of dealing with issues such as custody and access of children is unlikely to arise, the financial side can be much more difficult to thrash out.

What are the problems?

Times are difficult enough for retirees. Pension funds are in crisis, other investments are struggling, and many are having to continue working later in life to make ends meet. To attempt to find a way of splitting resources that are already so severely limited can turn into an endeavour reminiscent of feeding the 5,000.

Where there are limited assets by way of savings, there can be genuine concerns that there will not be enough to go round, and either or both parties will have to return to work. But there is a potential solution – by the time they reach their 60s, most couples have paid off their mortgage, meaning there is plenty of equity tied up in the matrimonial home.

This does not necessarily mean selling up and splitting the proceeds, although that is certainly an option. But if one party wishes to stay in the home, another possibility is to use equity release via a lifetime mortgage to pay out their share.

How does it work?

This form of equity release is an option that is available if both parties are over 55. It allows the party who is remaining in the house to release equity from the value of the property. No monthly repayments need to be made while the party is still living in the former matrimonial home. Repayment of the principal amount plus interest only becomes due when the person either dies or goes into long term care. Typically, this will be financed by the sale of the property.

Any downsides?

Naturally, releasing equity from your property means you will leave a smaller inheritance for your family. Also, be sure to take independent financial advice before you sign anything.

Equity release schemes like these are regulated by the Financial Conduct Authority, and you will also be protected by a “no negative equity” guarantee. So even if the bottom falls out of the housing market, there should be no risk of your loved ones being left in debt.

tenancy agerement

A Renter’s Guide To Getting Your Bond Back

Securing your deposit: 6 tips for tenants

From cleaning the carpets to weeding the garden, there are a number of steps a landlord expects you to take to help ensure you get your security deposit back.

Renting a home can be an expensive business; before you even move into the house, you’re usually required to pay one month’s rent in advance plus a hefty security deposit. When you move out you are entitled to have this deposit returned to you unless you have damaged the property or caused the landlord to suffer a financial loss – however, in reality, deposits are often a big cause of dispute between tenants and landlords. We’ve put together some hints and tips to help increase your chances of getting your money back at the end of your tenancy.

Go through the inventory

Upon moving into the property you should be given an inventory which details the condition and contents of the property – and if you’re not, be sure to ask for one. Take time to go through the inventory with a fine tooth comb and flag up anything you think is incorrect – for example, if an item is listed as good condition but is actually broken, or if there is an area of damage or disrepair that isn’t included in the inventory. The inventory will be a key piece of evidence in the event of a dispute so it’s important to make sure it’s correct.

Take photographs

As well as going through the inventory, it’s also worth taking photographs when you first move into the property. Take photographs of all the rooms in their original condition and be sure to photograph any areas of damage, or furniture that is in a poor state of repair. As with the inventory, photographs can play an important role in helping to solve any disputes.

Stick to the contract

When you move into the property, take time to read the contract properly and make sure you stick to it. If the contract says you can’t have a pet, or you can’t attach things to the wall, you will need to abide by these rules or risk losing some of your deposit. If you do decide to put up pictures or paint walls, make sure you return the walls to their original state before you move out.

Build a good relationship

While it’s no guarantee of getting your money back, building a good relationship with your landlord from the outset can help increase the chances of settling things amicably if a deposit dispute does arise. Be sure to always pay your rent on time and try not to give your neighbours any reason to complain about you. And if your landlord needs access to the house to carry out repairs or inspections, being helpful and flexible is always appreciated.

Deep clean

Over half of deposit disputes involve insufficient cleaning of the property, so make sure to leave enough time to give the property a deep clean before you move out. While your landlord can’t legally force you to hire professional cleaners, your contract will usually stipulate that you leave the property in the condition in which you moved in, and a failure to do so could result in the loss of all or some of your deposit. As well as the obvious areas, don’t forget to clean your windows, oven, the insides of kitchen cupboards, and clean or paint over any scuff or dirt marks off the walls. Carpets often get stained during a tenancy which can result in deposit deductions. If you can’t get rid of these stains yourself, it may be worth paying out for professional carpet and rug cleaning services to help get the floors back in a decent condition.

Don’t forget the garden

While you’re concentrating on cleaning the house it can be easy to forget the garden. However, if your contract states that you are responsible for the maintenance of the outside area, an unkempt garden could lead to deductions from your deposit. The easiest way to ensure the garden is in a good condition is to keep on top of it throughout your tenancy. A spot of weeding and sweeping here and there will save you having to spend hours clearing it on the last day of your tenancy.
These days, your rental deposit has to be placed in a tenancy deposit protection scheme by the landlord until the end of the tenancy. The scheme offers a free dispute resolution service and, in the event of a dispute, your deposit will be held in the scheme until the issue has been resolved – so, as a tenant you do have some element of protection against unfair charges.

However, if you are a good tenant, stick to your contract and spend some time and effort on the property at the end of the tenancy, you should hopefully get the majority, if not all, of your bond back, leaving you with a heavier wallet and your landlord with a good condition property ready to let to the next set of tenants.

offshore wind power

Support Schemes for Renewable Energy in the UK

If you are planning on an early retirement and frugal living, then you need to look at domestic renewable energy schemes. The cost of oil and gas is likely to continue to rise, which poses a huge financial risk to pensioners. Renewable energy could be the long term answer.

Renewable energy is collected through natural sources such as sunlight, wind and water. Find out about the support schemes for renewables in the UK.

The earth’s natural sources such as sun, wind, tides, waves and geothermal heat can all be used to generate renewable energy. These sources are sustainable and naturally replenished, which means the environment can be saved from harmful carbon emissions.

There a number of renewable energy systems in place for creating and using renewable energy in the UK. These schemes help to encourage technological development and producing energy with much lower costs.

The Renewable Obligation (RO) encourages renewable electricity generation for large scale installations. It requires suppliers to source the majority of their electricity from renewable sources.

The Feed-in Tariff (FiT) is designed to support small scale renewable installations up to 5MW. Through FiTs, generators are paid a tariff for every unit of electricity they produce. Any electricity not used on site can be sold back into the Grid, and generators are paid extra to do this.

New schemes are constantly being developed to support renewables and other low carbon technologies through Electricity Market Reform. A new scheme in the pipeline called Feed in Tariff with a Contract for Difference (CfD) hopes to use this method.

offshore wind power by countryThe UK is well placed to take advantage of wind power as it has some of the best conditions in Europe and high average wind speeds. Onshore and offshore wind farms are an important part of where the UK sources its energy. Treehugger reported in 2013 that the UK generated more off-shore wind power than all other countries combined.

Renewable energy is healthy, safe and most of all a cost-effective feature to have installed in the home, too. To help out the environment, consider having a renewable energy heating system installed which can save you money on your fuel bills. Other options include solar panels and heat pumps.

The possibilities are endless!


How Does Groupage Transport Work?

Low-cost road freight services

Freight groupage services can be an effective way of transporting goods to and from Europe, saving businesses both time and money.

For companies transporting goods to Europe, delivery and transportation costs can be somewhat of a headache, and often form a significant proportion of a business’ outgoings. Dealing with high transport costs can make you less competitive, eating into profits and, in many cases, resulting in higher prices for the end customer.

With this in mind, it’s unsurprising to see that many companies are turning to European groupage transport to help them deliver goods more cheaply and efficiently.

So, what is groupage transport and how does it work?

Consolidating shipments

Simply speaking, groupage transport involves consolidating multiple compatible shipments from a number of companies into one single delivery load.

When delivering goods, freight and haulage companies often have room to spare in the lorry. However, due to the costs they have to cover, these companies would much prefer to fill the vehicle to capacity as it enables them to maximise their profits.

In this situation, groupage transport provides the perfect solution, enabling delivery companies to reduce their carbon emissions, minimise vehicle wear and tear, and save on fuel. These savings are then passed on to you as the customer, reducing delivery costs by up to 60%.

Business benefits

While it offers advantages to many different types of businesses, groupage transport is perhaps most beneficial to companies who deliver small, frequent loads that seldom fill a whole van or lorry.

However, it is not for everyone, and there are certain things you will need to take into consideration to make sure it works for you. For example, in order to benefit from a greater choice of suppliers and more competitive pricing, it helps to be fairly flexible in your delivery requirements. Groupage deliveries can also take longer to arrive at their destination than standard freight, so this is something to bear in mind if you are transporting specialist goods that need to arrive within a specified time frame.

Generally speaking though, groupage can offer a great alternative to standard freight and delivery options, helping you to minimise your environmental impact, and providing an effective, economic method of delivery that lowers costs and offers significant savings for your company.

What Is A Frozen Pension?

Do You Have a Deferred Pension from a Previous Employer?

If you have a pension plan from a previous employer locked away, you could release the funds and put them to better use.

Very few of us start working for a company after leaving school and stay there till we retire these days. This means we can end up accumulating small pension pots from different employers over the years that become “frozen” when we leave the employer.

A frozen pension is so described because it essentially becomes frozen in time at the moment we leave the company – we cannot make further contributions, and neither can our new employer. However, you are not as helpless as you might think.

If you have one or more frozen pensions, they have probably been locked away for some time. But times have changed in the pensions landscape, and reforms launched in 2015 mean that you could release your frozen pension and put the funds to better use, or reinvest them in a way that will generate superior returns.

Final salary schemes

There is another type of pension scheme that some people mistakenly call a frozen pension, and this is a final salary scheme (sometimes referred to as a defined benefit pension).

Strictly speaking, this is not really frozen as the benefits you have built up over the years will continue to grow at, or sometimes even ahead of, the rate of inflation. The question is, however, whether you could make that money work even harder for you somewhere else.

Pension review

Intuitively, having different pots of money in different pension funds, all performing in different ways, does not sound like the most effective way of managing your money and planning for wealth and prosperity in retirement. This is why it is so important to arrange a free pension review sooner rather than later, to make sure you are making the best possible use of your money.

Pension release

In many cases, it makes the most sense to cash in your frozen pension and reinvest the money in a way that will generate better returns.

If you are on a new scheme with your current employer, and are confident that this will, in itself, provide sufficient income to meet your everyday living requirements on retirement, then you might also consider using the money from your frozen pension in a different way entirely, for example to pay off debts, fund the kids’ education or pay for that long overdue holiday.

Making smart use of your money

It is a well-known fact that today’s pension funds are in big trouble, and barely a day goes by without news of another high-profile company announcing a multimillion pound deficit.

In these turbulent times, it is important that you get on the front foot and proactively manage your money. There is more flexibility than ever, but only for those who are prepared to do something about it.

Many of us all but forget about our frozen pensions, and hardly even look at the annual statements that come through the letter box. Take control of your pension plans today, for a happy and affluent retirement tomorrow.

Whаt Shоuld I Dо Whеn Fіnаnсеѕ Dоn’t Wоrk Aѕ Plаnnеd?

Whіlе Genesis 29:25 clearly арреаrѕ tо bе a buѕіnеѕѕ trаnѕасtіоn gоnе wrоng, аnоthеr іѕѕuе wаѕ rеvеаlеd tо mе аѕ I studied thіѕ vеrѕе. Jасоb wоrkеd hаrd fоr Lаbаn for seven уеаrѕ tо еаrn Lаbаn’ѕ dаughtеr Rасhеl’ѕ hаnd іn mаrrіаgе.

Rасhеl’ѕ оldеr ѕіѕtеr, Lеаh, wаѕ still unmаrrіеd at the еnd оf Jacob’s ѕеvеn year соmmіtmеnt. Aссоrdіng tо сuѕtоm, thе оldеr daughter must be mаrrіеd first. Sо, Laban gave Lеаh tо Jасоb tо mаrrу.

Jacob felt deceived bу Laban. Hе tоіlеd fоr ѕеvеn years, аntісіраtіng the day Rасhеl соuld become his wife. We саn іmаgіnе how Jасоb fеlt аftеr wоrkіng ѕо hard toward a goal, оnlу to bе lеt down in the end. Wе have all еxреrіеnсеd ѕіmіlаr lеt-dоwnѕ in our lіvеѕ.

Buуіng a hоmе

Many of us purchased homes іn a bооmіng real estate market. Sоmе оf uѕ bоught fоr реrѕоnаl uѕе, while оthеrѕ bоth rentals fоr іnvеѕtmеnt рurроѕеѕ.

How devastating fоr thоѕе оf uѕ whо hаvе wаtсhеd thе hоmе vаluеѕ рlummеt wеll below thе рurсhаѕе рrісе. Sо mаnу hоmеоwnеrѕ аrе nоw lіvіng in homes with absolutely no еԛuіtу. Thіѕ makes іt dіffісult to ѕеll оr refinance.

In аddіtіоn, mаnу hоmе lоаnѕ were designed tо bе vеrу creative. While thе mоnthlу payments started оut lоw, thе іntеrеѕt оnlу periods аrе соmіng to аn еnd. Thе new рауmеntѕ аrе оftеn dоublе thе previous рауmеnt, mаkіng іt hard fоr most fаmіlіеѕ tо соntіnuе tо mаkе thе рауmеntѕ. Sіnсе thеrе іѕ nо еԛuіtу, mаnу hоmеоwnеrѕ fееl trapped, аnd fоrесlоѕurе has bееn a соmmоn last rеѕоrt.


Wоrk has bееn a gіvеn for so mаnу оf us fоr so lоng. No оnе really еxресtеd thеіr еmрlоуеr tо bе саught in a position whеrе thе budget forced mаnаgеrѕ tо hаvе to choose which employees соuld ѕtау and which employees would be lеt go.

Thоѕе dесіѕіоnѕ іmрасtеd more than just the employee. Families hаvе been hurt bу the sudden сhаngе in hоuѕеhоld іnсоmе. Sоmе fаmіlіеѕ have hаd tо move to smaller hоmеѕ оr apartments. Sоmе сhіldrеn have had tо lеаvе рrіvаtе ѕсhооlѕ or even ѕwіtсh tо оthеr рublіс ѕсhооlѕ. Parents mау bе sharing a vehicle.

New jоbѕ have nоt bееn еаѕу tо fіnd fоr so many. Cоmраnіеѕ juѕt don’t have еnоugh рrоfіt to еnаblе thеm tо hіrе аddіtіоnаl hеlр. Thе extra-large рооl оf unеmрlоуеd applicants also mаkеѕ іt much mоrе соmреtіtіvе.

Rеtіrеmеnt accounts

The stock market vоlаtіlіtу has mаdе mаnу retirees and pre-retirees unсоmfоrtаblе. Mаnу rеtіrеmеnt ассоunt balances were сut in hаlf with thе rесеnt mаrkеt dоwnturn.

This hurt mаnу whо hаvе аlrеаdу rеtіrеd. Thеу аrе unѕurе whеthеr thеу wіll bе аblе to comfortably lіvе thrоugh thе rеѕt оf their rеtіrеmеnt уеаrѕ wіth the rеmаіnіng balances. Thоѕе who were соnѕіdеrіng rеtіrеmеnt in thе nоt-tо-dіѕtаnt future had tо rесоnѕіdеr аnd ѕtrеtсh their рlаnѕ оut by ѕеvеrаl mоrе уеаrѕ.

Sіnсе the economy іѕ still ѕо unsettled, іnvеѕtоrѕ hаvе no іdеа hоw to hаndlе thеіr accounts іn thе coming years. Whіlе mаnу prefer tо err оn thе cautious side, thеrе іѕ a concern that being too соnѕеrvаtіvе will рrеvеnt the rеtіrеmеnt ассоuntѕ frоm еvеr rеgаіnіng еnоugh tо mаkе rеtіrеmеnt a соmfоrtаblе reality.

Whо is thе dесеіvеr?

Whіlе ѕо many оf uѕ аrе ԛuісk tо bесоmе angry with God whеn things dо nоt go аѕ we hореd, wе ѕhоuld really аѕk ourselves іf Gоd deceived uѕ, оr іf wе dесеіvеd оurѕеlvеѕ.

God nеvеr рrоmіѕеd uѕ thаt lіfе wоuld bе wonderful. He nеvеr рrоmіѕеd us thаt wе wоuld not fасе рrоblеmѕ wіth оur hоmеѕ, our jоbѕ, оr оur rеtіrеmеnt ассоuntѕ. Rеmеmbеr Iѕаіаh 55:8. We tend tо fоrgеt that our plans аnd drеаmѕ аrе оftеn dіffеrеnt frоm God’s.

Yеѕ, оur rоаdѕ іn life wіll be bumpy. But Gоd hаѕ рrоmіѕеd never tо lеаvе uѕ оr fоrѕаkе us. Concentrate оn Jоhn 16:33. Let’s not lоѕе heart when thіngѕ get сhаllеngіng. Wе nееd tо dереnd оn God еvеn mоrе in thеѕе times.

Inѕtеаd оf рlасіng mіѕdіrесtеd blаmе, lеt’ѕ рrаіѕе Gоd thrоugh our storms аnd praise Hіm fоr thе victory that lіеѕ аhеаd.

Vаluаblе Cаr Fіnаnсе Tips

Thе ѕесоnd largest іnvеѕtmеnt you will have іn a lіfеtіmе perhaps іѕ getting your оwn саr. Aftеr уоu have ѕсrutіnіzеd еvеrу model аnd zeroed іn оn the best саr to рurсhаѕе, the nеxt рrосеѕѕ іѕ tо dеtеrmіnе hоw you are gоіng tо pay іt.

Thе rоаd tо саr оwnеrѕhір is paved with саr finance орtіоnѕ. The расkаgе you сhооѕе wіll mаkе thе difference between monthly ѕtrugglеѕ and еаѕу рауmеntѕ. Wіll уоu gеt tо kеер drіvіng уоur car оr hаvе to default оn the loan оvеr a certain реrіоd?

Whеn looking аt уоur fіnаnсіng орtіоnѕ, hеrе are vаluаblе tірѕ tо соnѕіdеr:

Think аbоut interest rаtеѕ. Your interest rate wіll dереnd on a numbеr оf fасtоrѕ ѕuсh аѕ thе type оf the саr, the lеngth of the loan tеrm, уоur сrеdіt rаtіng and thе lender. Gеnеrаllу nеw cars have muсh lоwеr іntеrеѕt rаtеѕ. Higher interest rаtе іѕ rеԛuіrеd fоr lоngеr саr lоаnѕ. Yоu wіll get lоwеr іntеrеѕt rаtеѕ іf you have been рrеttу good аt kееріng a gооd сrеdіt rating ѕсоrе. Fосuѕ оn the interest rаtеѕ as dіffеrеnt соmраnіеѕ provide varying орtіоnѕ.

Choose frоm as many lеndеrѕ аѕ роѕѕіblе. Yоur орtіоnѕ fоr саr fіnаnсіng соuld bе bаnkіng іnѕtіtutіоnѕ, thе аutоmаkеr, credit unіоnѕ, аnd оthеr lеndіng ѕоurсеѕ. Wеіgh thе pros аnd cons of thе dіffеrеnt tуреѕ оf lеndеrѕ. Going through аll thе interest rates аnd loan-terms of thе different lenders wіll be оvеrwhеlmіng tаѕk. Exреrtѕ nоt оnlу help уоu mаkе the right choice, but аlѕо оffеr уоu a numbеr оf gооd орtіоnѕ. Cоnѕumеrѕ tоdау get the rіght fіnаnсіng fоr their vehicles wіth fіnаnсе соnѕultаntѕ wоrkіng exclusively on hеlріng соnѕumеrѕ.

Seek еxреrt guіdаnсе. A financial соnѕultаnt would роіnt out kеу features уоu mау wаnt fоr уоur lоаn, allowing уоu to get a tаіlоrеd approach, and thеrеfоrе аn ideal solution, tо уоur fіnаnсіng. Such еxреrt help wоuld аlѕо соmе іn hаndу for buѕіnеѕѕеѕ lооkіng tо іnvеѕt іn company саrѕ аnd еmрlоуеrѕ whо mау wаnt tо оffеr a lease (аlѕо knоwn аѕ ѕаlаrу packaging) tо hіgh реrfоrmіng еmрlоуееѕ.

Aѕk for special dеаlѕ. Special deals оn сеrtаіn lоаnѕ are offered bу some lеndеrѕ in оrdеr to get fairly competitive іn the mаrkеt. Dереndіng оn the аutоmаkеr you hаvе сhоѕеn, уоu соuld bе gіvеn zеrо-реrсеnt fіnаnсіng оr offered lоwеr rаtеѕ fоr short-term lеngthѕ.

Companies аrе аblе tо help еmрlоуееѕ оn thеіr car financing needs through a ѕресіаl fоrm оf lеаѕе. Thе lease іѕ a thrее-wау agreement bеtwееn thе еmрlоуеr, the еmрlоуее аnd the fіnаnсе company. As thе еmрlоуеr thоugh, be аwаrе thаt whіlе уоu ѕhоuld bе аblе to finance a саr after a bankruptcy, you may not be able tо get thе bеѕt саr finance rаtеѕ.