Be Prepared for the Problems in Used Car Financing With Solutions Before You Start

Financing properly is more important in financing a used car than when buying a new car. Most problems that occur in buying a used car are due to there being a problem connected with the financing. Getting the used car financing worked out properly is the key to a successful used car purchase.

Most buyers aren’t aware of how important the paper work is to making the deal a successful one or a failure. They view it as paperwork that should be completed as quickly as possible so they can drive away in their new car.

To start with, it’s very important to get the deal agreed upon by the salesman to be put in writing in the contract. This often involves determining monthly auto loan payments based on an interest rate. Sometimes, the interest rate a customer qualifies for is inflated so the dealership can make extra profit.

This headache can easily be avoided by obtaining independent vehicle financing before going to the dealership. This means the consumer can proceed as a “cash buyer” and negotiate only the price of the car. Car salesmen prefer customers to be “monthly payment” buyers because, in this way, it is easier to obscure the total cost of the vehicle.

Independent car financing can be obtained from a bank, credit union or on-line lender. With the popularity of the internet, applying for used car refinance is proving to be simple and very easy to do. Many on line lenders respond very quickly – sometimes as short as 15 minutes by email or telephone. If the application is approved, the borrower is given a credit limit at an established interest rate. Sometimes a blank bank check is issued with no obligation to use it.

“For the majority of consumers, even if you know you have good credit, there is a little apprehension and tension around applying,” one lender said. “So instead of going into a dealership and giving them your information and being sent to the coffee machine to wait for an answer, you can apply on-line, 24/7.”

Most people familiar with how used car dealerships operate confirm that obtaining independent car financing is beneficial to most consumers. .

The most common problems that have a negative impact on a person trying to finance a used car –and their solutions – to ensure that things go smoothly are the following:

Problem #1: Many consumers don’t know what their credit rating is when they apply for an auto loan. The strength of their credit score largely determines what kind of interest rate they will receive. Therefore, it’s critical to make sure your credit report is in the best shape possible before shopping for a car.

SOLUTION: Order a copy of your credit report and look for items that may stand in the way of you getting a good rate. Correct any issues or errors promptly. Are all of your lines of credit in good standing? Are there any signs of identity theft? The credit bureaus will tell you how to correct errors when they send you the report. The following numbers and Web site addresses will assist you in checking your credit.

100 Financing Investment Property

100 financing of investment properties refers to 100% financing from outside for your investment in real estate. Funds that are brought from one’s own savings, on loan from friends or relatives are in a way not much different from capital whereas real debt or Investment property financing comes from financial institutions. These entities – banks, mortgage firms and lending organizations like credit unions — lend funds to the applicant on the trust of a collateral security or based on the income, credit-worthiness and repayment capacity of the individual. Even if these criteria are satisfactory, an investment property financing institution may ask to be shown the business plan of how the applicant means to generate income using the pieces of property he or she means to buy and consequently pay off the loan or conclude the mortgage. The lender has the right to know how the business is going to be conducted because the revenues of this business determine how fast the loan is going to be repaid. With the turn in the economy, 100% financing investment property has almost been done away with.

100 financing investment property

In the United States, there are three credit bureaus, Equifax, Experian and Transunion, that maintain records of the lines of credit extended to each individual and how they are being handled. The credit reports formulated by these bureaus reflect how many credit card accounts a person has, how many times he or she has defaulted in payment or gone over the credit limit; other forms of financing availed by the individual such as home mortgage, auto finance or student loans, are also listed. Lenders and creditors have access to these credit reports and use them to check if an applicant is worth the risk of being given a loan. The exact features that point to an applicant as being risky can be found out after a professional analysis of one’s credit report. A high Debt to Income ratio and loan to value ratio are some of the red-flags. These areas have to be improved so as not be saddled with an exorbitant rate of interest and terms that are not favorable to the borrower. Some unfavorable terms are floating interest rates that send the finance charges through the roof upon a single defaulted payment. To prevent this eventuality, it is better to choose a deal with a fixed (flat) interest rate or a low ceiling rate on the interest rate slab.

Lending fees, high interest rates, discount points (another form of lending fees paid upfront to prevent the interest from racing up) can actually break the bank. In fact, there are many cases in which discount points have been deceptive and one ends up paying more for them, than the actual interest (finance charges) that would have been paid if the interest rates did go up. To prevent such goof ups, it is a good idea to take estimates from two or three lending organizations, compare their offerings and then choose the one that appeals most to one.

The worst pitfall to guard against is when some lender tells you that you are eligible for 100% financing of investment property. Those idyllic days are over. In fact, they are past their sell by date because there were not so idyllic. There may be such plans available on subsidy from the government for the exclusive use of first time homeowners who belong to the low income group. But this does not include investment property dealers. Traditional methods of 100% financing are now called owner financing and are still available but they are not an attractive option. It is not surprising that requests for owner financing are viewed with suspicion of default by lenders and therefore, that avenue is best avoided.

Campaign Finance Reform, Or Revolution?

When I was a little boy, we lived in rural Missouri, about 30 miles outside of St. Louis. We lived there until I was nine years old. We lived in a small town, but the world was, for me, a very big place filled with wonders and bulging at the seams, with hope and possibility. In spite of the veiled threat of nuclear war between the Soviets and Americans our government made us feel safe. Even though we had regular “duck and cover” drills at school confidence in our leaders made us feel safe. My parents worked hard, provided for us, and because my dad was a Union member, we all had health insurance. I assumed that everyone did, and I think that at that time most did. I doubt that the world was any more politically stable than it is now, but most everyone seemed to believe that anything was possible. There was abundant hope. I’m sure that this was largely a middle-class phenomenon, but there was a very large middle-class. I think that this was, pardon my pun, “trickle-down” from pretty good leadership. I know now that it had to do with the “industrial military complex” being in its infancy. President Eisenhower would warn us about this institution and those who would control and profit from it, becoming the greatest threat to the freedom of the average American.

In 1958 our family relocated from Missouri to California. There was more construction work for my dad and the Union was very strong there. I remember when we were traveling, being a little boy, it seemed as if we were pioneers traveling to the great Wild West. And you know what, it was sort of… true! Even though I was disappointed that Mexican-Americans didn’t wear sombreros, it was to me, exciting and wondrous! It wasn’t easy for my folks, but they were able to make sure that we, my younger brother and I, were protected from such heavy burdens of social pressure, allowing us to just be children. We became Californians! Then came John Fitzgerald Kennedy! From what I could tell, my parents who had been life-long Republicans and didn’t vote for Kennedy became converts to the charisma and competency of this President, as did very many Americans. When he spoke it was like he was speaking directly to you and he was like Jefferson or Franklin or one of the “framers” reborn. It was obvious that he was a “peoples President”! Born into wealth, he had no need to sell one bit of himself to anyone. His father had stressed that they were fortunate, being wealthy Americans, and that they would be behooved by that fortune to become public servants. In that role, JFK made us all feel like anything was possible and I do mean anything. Take for instance, “We’re going to the moon!” And though we did have a standoff with far reaching implications, with Russia. We won! It was a time when Americans felt like and actually were the moral conscience, human rights and social leaders of the World!

Then the turmoil began. John Kennedy was assassinated in Dallas and Lyndon Johnson became the President. Then we lost Rev. Martin Luther King, Jr… then Bobby Kennedy! Though Johnson managed to get the Civil Rights Act passed, he escalated and became obsessed with Vietnam, a mistake and trauma that would overshadow many great things he did and that were happening. The Draft… the conscripting of young American boys into the armed forces would begin the great change. Nixon would begin the de-escalation of the war, but then became the most disgraceful leader in modern American history… The Vietnam War, sold under threat of the domino effect of Communism (bullshit), would be the beginning of Eisenhower’s greatest fear. The Industrial-Military-Complex invaded the United States economy, to eventually determine every aspect of American life. Spanning the better part of two decades, Vietnam would give birth to private industry and businesses so rich and powerful that they would gain the ability to “lobby” (bribe) Washington D.C. and influence American policy, law, and social stability. An industrial complex supporting a massive armed force would become an entity of its own, spawning a wealthy class of citizens enjoying privilege like European Royalty. As this class grew and spread into every sector of the economy, someone would have to pay their way. The middle-class became overtaxed, underpaid and underserved, as the Nation’s economy began to transfer from the average citizen to the upper one percent (1%). This trend would continue right up to our current situation.

A succession of weak Presidents like Ford and Carter paved the way for the fatal Presidency of Ronald Reagan. A complete sell-out to the rich and powerful businesses, and a promoter of a covert military, he broke the back of the Unions when he broke the Air Traffic Controllers strike, allowing those Union members to be displaced by non-Union employees. The Unions had made possible things like wages that kept up with inflation, top-notch health insurance policies for members, and arbitration with companies to assure employee safety and quality work and goods production. Without the Union protections, American workers would be at mercy of purely profit-based business that looked at the “bottom-line”" as the primary if not their only consideration! His covert military would take up the cause of protecting business interests abroad. The country of the people, by the people and for the people was gradually disappearing into the distance like fading sunlight as night approaches. A very dark picture was taking form in the United States of America.

The blow of the “Bushes” was softened by the charisma of William Jefferson Clinton, briefly, though the Industrial-Military-Complex was still on the march promoting war, profiteering and deregulation of the financial industry to unprecedented levels in spite of warnings that history provided. The transfer of the economy to the top one-percent was escalating at nearly unstoppable speed. All the while, Americans had become complacent and continued to trust that government would, in the end, come to their aid. Over the years since Reagan, Unions had been sold as evil and counter-productive to the economy. Safety in the work place became substandard as the average worker worked longer and harder hours to maintain a secure and stable life-style. A new phenomenon appeared as somewhat of a bewilderment to most, at the time… the presence of a growing “homeless” sector appeared in our society. “Why” wasn’t apparent! We couldn’t see that if the wealthy remained the top 1%, and the middle-class was diminishing… poverty had to be flourishing! The American way of life had transformed. Things that made us what we were, were disappearing or being stifled and rebranded as counter-productive to our economy. War became acceptable as a sadly necessary part of our culture and the times we live in! International Treaties were deemed inapplicable to the United States government. It seemed that almost out of nowhere America was grabbing people and shuffling them off to clandestine locations, torturing them and defying international law. The government didn’t need warrants to wiretap and spy on its people. Privacy was unimportant. Americans, like the enemy, could be locked up without “habeas corpus” in the process, and for indeterminate lengths of time with no legal representation. Two-percent (2%) of the population would, over the course of each year, be incarcerated. Doctors were being assassinated for carrying out legal procedures. Civil rights were first being given to citizens and then taken away in backlashes of the Religious far-right interfering with government and the law. Government mandated that citizens must buy a poor quality product from unethical businesses under the threat of penalties, with no acceptable, reasonable product offered under that law (health insurance). Federal authorities intervened in legal conflict with State laws, arresting people for things that their State had deemed legal (medical marijuana)! Maybe worst of all, no one will take responsibility for the environment of our Planet and the destructive effect we are so obviously having on it. This has all culminated into the financial melt-down of 2009, and still the people struggle for justice and for the government to come to their aid, but it falls on deaf ears that have been silenced by financial reward from lobbying (bribery) by the Military-Industrial-Complex that silently has instituted a coup on the United States Congress, stripping the people of their representation in the Federal governing system. Half measures that appease the people and sustain the power of the top 1%, yet really change nothing, are all we can get out of them.

5 Best Android Tablet Finance Apps

For Android tablets, the common reason for buying them may be for entertainment and leisure. Did you know that Android tablets are also proven useful in the financial world? Android has offered so many finance apps in the market which are very much relevant and useful to your every day financial needs. Whether you want the latest finance news or you need to make monetary computations, finance-related Android apps have got it all for you. Here is a list of the five best Android finance apps in the market:

1. Finance

Ever wanted to have a personal financial planner but you just can’t afford to pay for one? Simply called Finance, Android has come up with a powerful app which strips you of the need to hire a personal planner. Finance is an app which is capable of providing you with the most recent updates about the stock market. The best feature of this app is that it provides you with stock quotes which are very much reliable because they are quoted real-time. This app also syncs well with your stock portfolios which are loaded in Google Finance.

2. Real Estate Droid

If it is your dream to be a real-estate businessman someday or to be a licensed real estate broker, then this finance app is the best deal for you. Real Estate Droid comes with features which can, for one, search houses for sale. Once you find a catch, you can search information about its neighborhood with real-time updates. With this app, you can also check out mortgage quotes made by real lenders and compute for mortgage loans. You can always take advantage of the built-in loan calculator.

3. Financisto

Financisto is a finance app that is very much capable of doing many things. For one, it lets you add multiple types of bank accounts and even a multiple number of accounts per type. This means that you can add checking and savings accounts together into your file manager. For both types, you can add more than one account. With Financisto, you can also monitor which among your payments are recurring. Once you see the pattern, you can schedule them to make sure you don’t lag with your payments. This app can also help you create either a short-term or long-term budget.

4. Karl’s Mortgage Calculator

If Real Estate Droid is not enough for your mortgage needs, then you can always opt for a more specialized finance app, which is Karl’s Mortgage Calculator. By using this app, you can calculate how much mortgage you should be paying in the future and you can even visually see the results with its easy-to-read charts and graphs. This app can help you compute for your future payments, given the principal loan amounts, interest rate and terms. Karl’s Mortgage Calculator, however, is limited to supporting interest-only amortization and Canadian computations.

5. PayPal

Almost everybody knows of PayPal now. With the PayPal Android app offered in the market, you can do all things you normally do on your PayPal account. The bonus point here is that apart from being able to pay an item, you can also help hasten its delivery process. So, if you’re dying to take hold of that most recent Victoria Secret scent, then you don’t have to wait for the normal number of shipping days just to have it. You can always make it two or three days earlier with this app. With PayPal app at your reach, you can always access your PayPal account anytime you want.

The Best Finance App

The best finance app, in my opinion, is Mint.com’s mobile app. Here is a list of its features and finance app alternatives if you prefer to use an app other than Mint.com.

Mint.com (Free)

I have been using mint for a long time now and believe it is the best finance app. Intuit bought this web site a while back so it is very secure, using bank level encryption.

Mint gives you a quick overview of your finances, which you can put on one of your main screens in the form of a widget. The widget will show your current cash amount and your credit debt. It will also show you the last time your information was updated, so you can be sure that you are looking at the most recent information.

Once you set up a monthly budget, you can access it with the app to make sure you are staying on track for the month. Mint is very good at knowing how to categorize your transactions for budgeting purposes and it will let you know if it does not know how to categorize a transaction.

The app automatically gives you alerts for various things, which include the availability of large deposits, what bills will are due in the next few days, etc.

You can get a very general picture of you investments with this app. By that, I mean if you simply want to know the balance of you accounts, you will be happy with this app. If you want to get more information about the performance of specific investments, you will need to go to the website.

To set up this app, I would suggest you log on to the main website to input all of you account information and set your budget. Once that is completed, you simply download the app, log in, and all your accounts are ready to go.

Adaptu Wallet (Currently Free)

Adaptu Wallet has many unique features like tracking loyal programs and creating spending forecasts. The app also allows you to store photos of insurance and business cards, which will decrease the clutter inside your wallet. The app is currently free, but the word on the street is they will start charging for usage sometime in 2012.

Pageonce (Free or $4.99 for Gold version)

Pageonce arguably has the best interface of all the finance apps. Your key account balances are placed in thumbnails that appear on the home screen. Contrary to popular belief, this app does provide PayPal support even though many claim it doesn’t. Balance updates are not as fast as Mint.com or Adaptu, some transactions take days to update. The Gold version has the useful ability to pay bills directly from the app, and this is the only finance app that can do this. The gold version also removes all the ads from your app.