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Finance

Is it better to lease or finance my next vehicle?

With today’s slowing economy there are numerous promotions coming from the vehicle’s manufacturers, if you are in the market for a new car you may want to take advantage of these generous offers before the inventory is depleted. Before you sign on the dotted line you should understand some of the pros and cons when it comes to lease or finance your next vehicle. Here we will begin with the lease option first:

 

What is a lease on a vehicle – a lease is essentially a long term rental, the monthly payment you are making equates to the depreciation of the vehicle over time. “Buy out” or residual value on the vehicle is the predicted resale value in 24, 36 or 48 months.

 

Pros:

 

– Lease is generally cheaper in monthly payment because of the residual value will be paid separately which is not calculated within your monthly payment. Lease offers better cash flow, or cheaper monthly payment therefore increasing the affordability.

 

– You can claim the lease as your business expense if you have your own business registered.

 

– If you don’t want to deal with any vehicle repairs lease is the best option, since majority of lease programs fall within the manufacturer’s warranty period, leaving you with hassle free driving for years.

 

– If you can’t make up your mind about a vehicle, lease is a great way to really try out the vehicle for the 3 or 4 years term, and the ultimate decision to buy out the car is still in your hands.

 

Cons:

 

– You don’t actually have any equity in the vehicle, since you are paying the depreciation on the vehicle there is no real equity by the end of your lease term.

 

– You are responsible for the vehicle if you are planning to return it at the end of your lease term. Normal wear and tear is expected by any noticeable damage to the vehicle will have to be covered by you.

 

– You are restricted on your kilometer allowance if you a lot of driving, you will face still penalties when returning the lease.

 

– Title of the vehicle remains in the manufacturer’s or the lien holder’s name not yours. It is no considered to be your asset; therefore the vehicle can not be sold without a lien release letter from the lien holder.

 

 

Financing a vehicle explained – Financing a vehicle is paying back on a car loan over period of time, the amount borrowed is the “capital cost” on a vehicle. A.P.R or your annual interest rate is calculated based on your capital cost. Once you have signed the bill of sale the title of the vehicle will be in your name. The vehicle will become your asset and you will be solely responsible for resale or repairs on your car.

 

Pros:

 

– When your finance term ends there is no residual or buy out value, the vehicle will be free of lien and in your name.

 

– Negative equity rarely occurs when you are financing your vehicle, at any given time when you are trying to sell your car, you should be able to walk away from your loan.

 

– You pay less interest overall, when you calculated every penny spent on that particular vehicle, your total amount spent including interest will be less compare to you buying out your lease.

 

Cons:

 

– Monthly payments are much higher compare to a lease, usually double your lease payment, this is because the residual value on a lease payment is also been calculated into your monthly payment.

 

– Cash flow becomes an issue when financing since monthly payment is much higher, if you miss or default on your payment you maybe risking your credit score been lowered.

 

Now you have a comprehensive understanding with both options, you can use your best judgment when it comes to your next new car.

 

Author Rick Tao Li, for more useful articles related to this topic please visit me online at http://www.soscarloans.com

Author Rick Tao Li, for more useful articles related to this topic please visit me online at http://www.soscarloans.com

Finance

Borrow money till next payday- Swift finance for instant requirements

At some point of time, we may engage in a situation that requires instant finance. So we have to borrow money from others if we do not have it. If you want money that you may want to return on your next salary day then you can borrow money till your next payday. This fund provided by the lenders gives you a very convenient way to solve your financial issues with more flexibility and less headache. The repayment can be done on your next salary day.

 

 

These finances provided by the lenders give you a sum of money that can be up to

£ 1000.The time period for repaying is 30 days. It means these finances are given to you for the period of a month. The rate of interest for these funds is little more than in compare of other financing. These funds do not require your credit details .So if your credit score is not good then also you will get the finance very quickly. These finances also do not require collateral. So if you do not want to put some of your valuable things as security to the lenders then also you will get the fund.

 

 

You can apply these funds with the help of internet. Online application does not require you to visit the lender. These applications are easy and convenient .You need to fill your information on the application form available on the internet. There is no need to fax your heaps of documents to the lenders. There is no paper work is required. No need to be the part of long waiting queues that you may have in offline application method. This application process saves your time and also saves you from inconvenience.

 

 

 

The conditions that you may have to fulfill if you are opting for this finance are as follows, the applicant must be a citizen of the UK; the applicant must be more than 18 years old. The monthly income for the applicant must be more than £1000 per month. If you are satisfying these criteria then lender will offer you money in short span of time.

Lucy Gray is a well known author and has been writing content for Doorstep Collection Loans, Cash Loans to Your Door, cash loans today, Doorstep loans, easy cash loans, Doorstep Collection Loans

Banking

Taking Banking to the Next Level: Convenience Banking

The term ‘Convenience Banking’ has become pretty popular these days with the development of the communication industry in this information era. Convenience Banking refers to the ease with which banking operations can be carried out from anywhere on earth with the access to the internet or to telephone. Any business person or an entrepreneur would like to have access to his finances round the clock and through the year. Convenience Banking promises this and much more.

The term ‘Convenience Banking’ has become pretty popular these days with the development of the communication industry in this information era. Convenience Banking refers to the ease with which banking operations can be carried out from anywhere on earth with the access to the internet or to telephone. Any business person or an entrepreneur would like to have access to his finances round the clock and through the year. Convenience Banking promises this and much more.

Global Debit Card:
Convenience Banking brings dexterity to banking offering facilities such as phone banking, online banking and the glamorous feature, the Global Debit Card. This keeps one the access to his accounts despite wherever one’s destination is and keeps him free of the tense to carry out his transactions even when he is on the move. All you need is a savings account with the bank and you are given the power to control your money anywhere through the Global Debit Card. A Global Debit Card grants access to the ATMs throughout the world and comes in very convenient while travelling through countries easing the way withdrawals were made. This takes shopping to a new level, enabling the user to exercise maximum comfort.

Online Banking:
Online banking reduces the necessity to visit you bank thus saving time and money spent on the visit to your bank. Imagine this if your nearest bank is pretty far and your access to travel is limited. Besides this, online banking ensures banking round the clock only with the basic necessity i.e. the connection to the internet. In a matter of minute or even seconds, your bill payments, transactions, enquiries and transfer between accounts can be done without any trouble or to having to wait till your next visit to your bank. In addition to the transactions that can be carried out with your money, some banks do offer opening demat accounts helping you to trade commodities on the move with just access to the www.

Telephone Banking:
Simplifying banking furthermore is the Telephone Banking facility. With telephone banking, banking operations can be carried out over the phone in a personalized style. Most banks enable you to access your accounts through the day and through the night. The facilities offered are very much same as that offered by internet banking and you will always have support to the customer service department administered by the bank. This makes banking even easier than internet banking as only a telephone connection is required.

The only significance is to look for a bank that avails all these facilities. If your bank doesn’t offer you these facilities, well, it’s time to change your bank that provides you freedom.

Vijay K Shetty, Platinum Level Author.
Get more information on Convenience Banking, Bank Checking Account