Want a cheaper finance for your vehicle? Try secured automobile loans

Maria Smith

The usual modus operandi in most automobile purchases is as follows.
Step 1: Recognize the urge for an automobile.
Step 2: Check the bank balances.
Step 3: Head for the purchase provided the second step gives a positive result.
Step 4: If the second step gives a negative result, take an automobile loan.

This will be rated as the most logical sequence of events by most people unless they acknowledge the fact that they can save hundreds of pounds by planning the automobile loan in a more systematic manner.

Recognizing the need for an automobile:
The first step will always be to concede that there actually is a need for a car or any other vehicle. The prices of vehicles have heavily come down. But they still continue to be treated as a luxury item. The desire to have a vehicle will always be there. People wrongly try to push desires as a need. Need emerges because of a difficulty being faced by the borrower. Only if a need is= recognized must one go to the second process.

Check for capability:
The automobile certainly would not come for free. One must have the capability to repay the value of the vehicle purchased. Fat bank balances are not always required. Taking a secured automobile loan allows investment in more productive uses while making you the proud owner of a vehicle.

Secured automobile loans require the borrower to keep the vehicle purchased or any other asset as collateral. The borrower must have a regular income source. Some lenders however specify a particular limit below which they do not accept borrowers. There is no need to get disheartened if you do not fulfill the qualifications. Every lender has a different lending policy. Given the numerous lenders offering mortgages, your financial condition is bound to match some or other lender's products.

Stretching ones finances too much will lead to a breakdown in the financial condition. The vehicle is not the only= expenditure on your part. There are many more expenditures to be borne by the customer. If the sum invested in the vehicle exceeds, the other expenditures will have to be curbed. Alternately, this would have an adverse effect on savings.

Therefore, the amount of secured loan must be decided with care. Once inside the showroom, almost every vehicle looks good. But one must vote for the vehicle that most suits his budget.

The loans process:
If you thought there is little to an automobile loan after making the decision to take it, then you are wrong. You are still halfway in the loans process. The implementation part is still remaining.

The first step in the loans process will be finding a suitable lender. Though there is a single lender who offers automobile loan, it is difficult to find the lender from the crowd of lenders. The various lenders chosen have to pass through various stages of screening to prove that they can provide the loan at the best of= terms. Online search significantly simplifies the process of search. No obligation loan quotes offered by the lenders too are of great help in the search process.

Once the lender is selected, the negotiations on the loans begin. Details of the loan like the term of repayment, interest charged, actual cost of the loan, amount of monthly or quarterly repayments etc. are to be decided in this stage. This is the most important step because this will decide how the loan fares in the long run.

The borrowers are advised to tread cautiously in this stage. The terms and conditions of the lenders must be read carefully. Particular attention must be given to clauses which rule out early or premature repayment with a penalty. All queries regarding the loan must be immediately clarified to prevent problems from emerging in the future.

The days ahead....
Has the loans process sucked most of your energy? You can rest now because the days ahead are a smoother ride. You= finally get the resources to purchase the vehicle of your choice. Secured automobile loans give borrowers a better bargaining power. Regular repayments to the automobile loan can further assure a smoother future. Taking a loan protection can be helpful in full and final settlement of the secured automobile loans.

About the Author

Maria smith has not been writing articles from the beginning.But the increase in perplexing loans information has urged her to write on different loans types.To find a Loans uk,secured loans,unsecured loans,Debt consolidation at low interest that best suits your needs visit http://www.loansfiesta.co.uk

War of the Worlds: Student Finance versus Life

Richard Green

It's a worrying time for current and prospective students. Figures from the Prudential, show that a third of UK university students have considered abandoning their studies due to the financial strain they have encountered. It is not surprising that many prospective students are finding the need to seriously think through the merits of going to university. With the increase in course fees, alongside decreases in government financial support, the current crop of graduates can expect huge debts (currently averaging over £13,000) when they enter the employment market, which they hope will reward them with a highly paid job.

However, as more students get pushed on to the higher education production line and undertake degrees, the once elitist qualification becomes devalued. Suddenly employers find themselves surrounded by graduates of ambiguous quality. Prestigious highly-paid careers are rare these days and graduates find themselves increasingly under= pressure to jump through a number of hoops, with many interviews relying on an individual's ability to sell himself, rather than the basis of the academic work.

Students need to take responsibility for their own finances, while the government seeks our recognition of its actions (educating the unemployed is good for the books … and votes), without the state taking on responsibility ("it's an investment in your own future").

Too many want to bury their heads in the sand and wait for a lottery win to make it all better. With over one trillion pounds of personal debt in the UK, students need to realise that the, "it could be you!" they pray for, is actually an "it is you … in debt" … with trapped wind more likely than wind-fall.

Part of the problem is hopeful expectation (alias denial), part is a fear of controlling your own personal finances (alias apathy), and part is a lack of knowledge (alias ignorance). The first one is difficult, and needs to be= overcome by the individual. The other two however can both be overcome by looking for help. Sources of information need to be made available, actively promoted and sought out by consumers.

It's not like the information isn't there… there are plenty of financial product comparison sites loaded with information (and pictures): http://www.moneynet.co.uk/ for a start, or http://www.moneysavingexpert.com. The Financial Services Authority has its own finance help information for consumers http://www.fsa.gov.uk/consumer/index.html.

As the saying goes, "Seek and you shall find". It may be a hard lesson, but it is one that we must all currently embrace.

About the Author

Richard works in Edinburgh for a media company, occasionally writing for the personal finance blog Cashzilla ( http://cashzilla.blogspot.com/ ), and drinking too much coffee.

Wedding Loans: Perfect Finance Option for a Perfect Wedding

Aditya Thakur

After seeing each other for years and being tagged as 'in love' since eternity, you desire to bring this to a logical end. You are wrong if you think I am suggesting a divorce even before you are actually married. The end to every love is wedding -the wedding of two bodies and two souls.

Have you been planning wedding since a long time but have been hindered because of the huge cost weddings entail nowadays.

Worry not. Spend as much as you can, because wedding loans are there to pay every penny of the expenses.

Average wedding costs anywhere between $19,000 – $27,000. This may go much higher if one is planning to have a gala wedding with all the pomp and show included.

And why shan't one. Wedding is a once in a lifetime event. People would take all efforts to make the wedding truly memorable.

But the society and the customs have changed much. Just as the parents or guardians lost their say over the choice of bride or groom,= they have little to do in the planning and financing of the wedding. So it is the couple who does all the spending on the wedding.

So how do the couples bear the expenses of wedding, in spite of being new to their professions and low on the income graph?

Wedding loans are an effective tool in their hands which they use to pay the entire wedding expenses. Wedding loans can finance practically every wedding expense right from the elegant wedding dress to the exquisitely beautiful engagement ring, from the lavish reception to the impeccable church decoration.

There are a number of other expenses which seem insignificant if seen individually, but become difficult to repay when taken in totality. These can be very easily paid through wedding loans.

Besides, wedding loans can be a much cheaper option to use for the payment rather than credit cards or past savings. Using a credit card can be simple if one goes by the immediate outcomes. But when the credit card= debts are due for payment you find them to be much more than what you really spent. No, the credit card company is not indulging in any king of overcharging or cheating. This is only because of the accumulation of interest. Payment through credit cards is just like drawing a loan, but at a much higher rate.

Utilizing past savings for a one day affair like a wedding would be a waste. It could have been a lot better had the past savings been used for some productive purposes.

A wedding loan allows the customer to enjoy two benefits. The first benefit of wedding loan is that the customer will not have to pay an exorbitantly high amount. Most of the lenders offer loans at reasonable rates of interest.

The second benefit is regarding the timing of payment. Even though a customer has to pay more than what he would have spent, he accepts this because he does not have to pay the whole amount at one go. Monthly payments require to be made towards the payment of= loan.

A certain amount of planning is necessary when taking a wedding loan. If parents are ready to be a part of the finances then they must be included in discussions. How much can they spend on the wedding needs to be decided well in advance. This will determine the amount of wedding loan that needs to be applied for.

Secured wedding loans taken against ones home will be much cheaper. A valuation of the home or property will be done. One can draw loan depending upon the worth of his home. However there are options for those who do not have a home or who do not want to put their home under any kind of obligation.

Next comes the choice of lenders. It is no longer necessary to depend on lenders in one particular locality or region. Almost every big and small lender is available online. An internet connection is what is needed. One does not even have to leave his home or office, and loan can be applied for instantly. Such a relief from the previous times when a= customer had to go to each and every lender to just get the quotes. Few customers were ready to go through this grind, and hence accepted whatever offer was given.

These loans are very easy to approve. With the valuation of property and credibility check over, it is very easy to get loans approved. Filling up each and every detail with caution and accuracy can save enough of time in the approval process.

Did you promise your wife an impeccable wedding ring? You can keep on the promise since wedding loans are there to meet the expense.

About the Author

Aditya Thakur is a financial consultant and is currently pursuing masters in journalism from JMI University. To find a secured loan that suits your need visit http://www.ukfinanceworld.co.uk