Rock's FotoPage

By: Rock Watson

[Recommend this Fotopage] | [Share this Fotopage]
[<<  <  [1]  2  >  >>]    [Archive]
Monday, 26-Sep-2011 07:42 Email | Share | | Bookmark
Things to Consider Before Going for Lease Buyout Financing

In the fast lanes of life, no one can imagine living without their cars. You can easily drive your dream car if you lease it.

Your leasing company will also give you the option of buying the leased car. There are two kinds of car lease buyouts or payoffs:

1) Lease-end buyout (at end of lease period)
2) Early buyout (during the lease period)

Buying your leased car is always better than buying a used car from a dealer who is an absolute stranger to you. You know the car's history and if you have been maintaining it properly, then it is advantageous to you.

Also if you have surpassed the mileage restrictions and don't want to pay the exorbitant additional fees, buyout will be very useful.

For buying the car, you will need to avail an auto loan. But before that, it is essential that you consider few things. Prevention is better than cure, isn't it?

Read the document carefully

You need to be cautious while dealing in any financial matter. If your company doesn't allow an early buyout, it is not wise to go for it. The reason is that you will have to pay heavy penalties or extremely expensive termination fees. So, do read the lease agreement carefully.

The condition of the car

While going for lease buyout, carefully check the condition of the leased car.
If you have been maintaining it well, then you need not worry about it. But if the leased car has depreciated a lot, there is no point in buying it.

Understand the Purchase option price/Residual value

Your lease agreement will have a "Purchase Option Price" which is set by the leasing company. This is the price that you will have to pay if you decide to buy the leased car.

The price is set taking into account the value of the car at the end of the lease period and an additional purchasing fee.

Don't forget to see how your leasing company manages your payments. Few companies consider initial payments on the car as interest payments instead of payments on the principle. So, you may owe much more than the residual value.

Compare the residual value with the market value

You will be at the benefit only when the market value will be higher than the residual value of the car. You can determine the market value with the help of Kelly Blue Book or any other website that provides authentic data. If the car is valued lower than the residual value, then it will be better to end your lease and search for another car.

Negotiate for the price

Not everyone knows that the price is negotiable. The leasing company is also at the benefit with the buyout.

The company will gain from the buyout as it won't have to sell the car in an auction at a very lower price. It also buys the Residual Insurance which will pay for any difference between the price of the car and the residual value. So don't forget to make a good deal with the company as it not going to suffer in any way.


Lease buyout finance is just as same as financing a used car. You can either choose auto dealership financing or go to any financial institution. You can also avail finance from several online financing companies.

The loan process is not much different. Lenders will take a look at your credit score and decide the interest rates at which you will receive the loan from them.

Now you are at benefit if you have a great credit score, but you can find a lender even with a bad credit history. In that scenario, you will have to go to someone who specializes in bad credit car loans along with lease-buyout loans.

Lease buyout loans are very easy to get. So if the lease period is ending and you really like the car, go for lease buyout. Avail easy car loans and drive your very own car.

Friday, 2-Sep-2011 08:59 Email | Share | | Bookmark
Criteria to Consider Before Availing Self-Employed Auto Loans

Well, let me first congratulate you. In an economy plagued by unemployment and debt, it takes great courage to venture out on your own. A self-employed individual not only earns for himself but also provides the same opportunity to others.

Everything in life is somewhere else, and you get there in a car" - Mr. E. B. White

We all have to agree that a car is no longer a means of comfort or luxury. It has become a need for us. But buying a car has become very expensive. A FINANCED car is the only reality now.

So before you search for auto loans, you should be aware of the two types of loans offered:

1) Secured Auto Loans

When a lender provides you with a secured loan, you will have to pledge your assets as collateral. Your home, car, stock, bonds, etc. can be pledged against the loan.

2) Unsecured Auto Loans

An unsecured loan is obtained without any collateral. Hence, you will be charged with higher interest rates. When you avail an unsecured loan, you will have to prove your earning capacity. This will ensure the lender of regular payments in future.

What are the requirements for availing Self Employed Car Loans?

Constant Income

A W-2 employee can prove his earning capacity by showing his pay check. But, you are self-employed and you obviously don't write pay checks to yourself. So, it becomes a bit difficult to prove that you get a steady income every month.

As you are self-employed, you will have to fill the following forms:

>> Form 1040 (U.S. Individual Income Tax Return)

>> Schedule C (Profit or Loss from Business)

>> Schedule SE (Self-Employment Tax)

You can solve the problem with the help of these tax forms. You should provide at least three years' record of your tax returns. This will assure the lender of your REGULAR income.

Many self-employed individuals write off their profits to reduce the tax burden. But make sure that YOU show the actual profit. A robust profit will ensure the lender of your stability and therefore you will have to pay lesser interest.

Bank Statements

You will have to show your monthly bank statements. Few lenders may want to see your personal accounts and also want to verify your personal assets.[/u]

Your Residential Proof

A constant place of residence means you are able to pay your rent and other utilities on time. This shows your stability and instills greater confidence in you.

And so, the lender will require a copy of your recent Mortgage Statement and Utility Bill.

Credit Rating

Even if you are self-employed, your credit rating matters. Your credit score will show your credit worthiness to the lender. If you have a better score (generally 600 and above), then you have a greater chance of getting your car loan approved.

Recommendation From Your Clients

Lenders want to ensure the stability of your business. So they might ask for recommendation letters from your clients. If your client writes it on his Company letterhead, it will prove to have more impact.

These are the major things that your lender will ask from you. The requirements may vary depending on the type of loan you are availing. Unsecured car loans will apparently have more criteria than the secured loans.

If you are a self-employed individual with a good credit score, availing loans won't be difficult for you. You just need to have accurate financial records and soon you will be driving your very OWN car.

There's time enough, but none to spare.

So don't wait. Go online and search for a lender who will value your credentials and give you a loan instantly.

Searching for old or new car, we have everything for you. is an auto financing company that provides car loans to everyone. Extensive network of lenders will provide you car loans at affordable rates.

Friday, 2-Sep-2011 08:58 Email | Share | | Bookmark
Military Auto Loans - Best Option for the Armed Forces

Every man wonders if he has created a distinct place for himself in this world. But the military personnel shouldn't think of it. You all have already made a difference.

Freedom isn't free. Our nation will remain free as long as we have heroic people like you. The entire nation applauds your efforts and courage. You stay out of homes so that we can be safe in our homes.

While you are away, you want to fulfill all the needs of your family. A car is one of them. With growing distance between work and home, a car has become indispensable in every household. It is an expensive necessity. So, an auto loan has become essential these days.

Don't worry about higher interest rates, high processing time and complicated loan terms. You can easily buy your car with the help of military auto loans. You will get several benefits with it.

Lower Interest Rates and Charges

These loans are often available at lower interest. The reason is your job and income stability. The lender is assured of regular future payments and so has greater faith in you. This translates into more benefits which are as follows:

>> Longer duration to pay off your loan
>> 100 % financing of your car
>> Less charges for tax, licensing, etc. and lower origination/activation fees

Loan without Collateral

The lender won't ask for any collateral so you don't have to worry about pledging your assets. You get a loan without any burden.

Does Not Require U.S. Domicile

Typical auto loans will require you to have a permanent place of residence. This is just impossible for you. But with military auto loans, you can get finance regardless of your deployment location.

No Pre-Payment Penalty

Lenders won't mind if you decide to pay off your loan early and hence, won't penalize you for the same. But, it is essential that you check the pre-payment penalty clause before taking any steps. Better to be safe than sorry, isn't it?

Car Loans for Bad Credit or Low Credit Scores Available

The qualifying credit score is lower than the usual credit score requirement for civilians. Lenders do understand that your life-style and needs are different than other people. It is absolutely unjust to judge you on the same platform. And so your credit score is of less importance. Your income stability also plays an important part here.

Flexible options

Missing a payment is an absolute sin.

But you are in military and overseas deployment is a reality for you. It will obviously become difficult to make payments during that time. In this scenario, the lenders will offer you to postpone the payment. You can delay it even when you are in some financial difficulty. This flexibility is not available to others.

You also have the option of giving the Power of Attorney to someone trustworthy. By doing so, he/she can take decisions on your behalf and also make your loan payments.

After knowing all the benefits, you must be eager to know the criteria for availing military auto loans.


Active Duty Military Personnel

To avail the auto loan, you should be actively serving in the military. You can get loan even if you have recently joined the Armed Forces.

The lender may ask for your latest Leave and Earnings Statement which has all the monthly details of your pay and leave status.

Don't fret if you are a veteran, you can avail a loan under Veteran Military Loans at lower rates.

Contact details

You will have to provide your contact details. Do remember to inform the lender of your current deployment and ensure that he is aware of change in location, if any.

You will be required to give the following details:
>> Address where you are stationed
>> Personal Contact Information- address, cell phone number and e-mail ID
>> Social Security Number(SSN)

Credit Score

Your credit score will determine you credit worthiness. The lenders will pull out your credit score to ensure that you have a good credit. You will be able to avail loan even if you have a low score.

There are few lenders who offer No Credit Check Military Auto Loans. This is particularly useful when you have a bad credit score.

How can you pay for the loan?

You have several options of making payments. A few are listed below:

>> Direct Military allotment so that your regular payment is done without any disruption
>> Credit card or checks
>> Cash

The requirements for military auto loans are quite few. They are very easy to obtain.

And now with the advent of internet, it has become easier. Several companies will provide you easy car loans just at the click of a button. So do a thorough research of these companies and don't forget to compare the quotes provided by them.

Get online and get an instant auto loan to buy a car of your own with the help of . We are dedicated in providing affordable car loans. One click and you can avail car loans at low interest rates. Visit our website( to know more.

Friday, 2-Sep-2011 08:54 Email | Share | | Bookmark
Online Car Title Loans for Your Urgent Cash Needs

Online car title loans help you to get loans at real quick time. It requires little bit of home work and research. A good amount of understanding on how these loans work will help you to gain maximum profits. Most experts argue that car title loans are unwise if you are facing serious financial crunch. However, if you have all the facilities to repay the loan promptly, then it could be a life saving situation. There are several advantages in taking these loans for a short interval of time.

You might be wondering if the Car title loan is a right choice for your emergency requirements. The cost associated with these loans is certainly high. Make sure to do prompt payments at the month end. Usually a loan amount of 50% of the car value is given at higher interest rates. The interest rate could vary from $25 to $30 for every $100 that you borrow on a monthly basis. The car is made as collateral while obtaining the loan. If you miss out a payment, the lenders will come and take away the car from you. You need to pay separate charges to bring it back along with the due amounts. If you are sure to avoid all these kinds of problems, then go ahead with your car title loans. If you are seriously looking for such types of loan, then online car title loans are the best option to apply for.

The internet has revolutionized the world. You can get anything and everything with a single click of the mouse. Make the best use of Google to find information about leading car loan lenders. Make sure you get competitive rates in the market. Take 2 to 3 days of time in finding the real good lender whose terms are bit acceptable. The sky rocketing interest rates could not be avoided under any circumstances. Fill in the online application of these lenders and demand for a quote. You will have to fill out your contact details along with the employment and salary details.

Make sure that you do not have any other type of loan on your vehicle. This will make the process a bit lengthy and there are chances to neglect your loan application. Within few hours of submitting the online car loan application, you can expect a call from the representatives of lenders. Take your time to attend the calls and get their terms and conditions properly. You should probably get about 5 to 6 calls in 3 hours of time. It is good to analyze their programs and compare the rates offered. Pick the best lender among them and give a call back. You can still negotiate with the lenders to offer any kind of redemption if the amount is paid well in advance.

The paper works will be completed in about 5 to 10 minutes of time and you can walk away with the loan amount.

Friday, 2-Sep-2011 08:52 Email | Share | | Bookmark
Buy Your Car Here, also Make Payments Here

Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending. - Carl Bard

So for all those who feel dejected because they are not able to buy a car, there is something to cheer you.

If you are not able to buy a car because of your bad credit score, then you can go to a BHPH (Buy Here Pay Here) dealer. A BHPH dealer will help you buy a used car, with high mileage. The dealer will not only sell you a car but also finance you. So, you need not go to a bank or a financer. It is simple, you buy car and pay for your car at the very same place.

Many car dealers have BHPH lots as an alternative financing option. A BHPH dealer usually has sign boards which convey the meaning- "We Finance Anyone".

BHPH dealers sell cars to individuals with bad credit score, so it's obvious that high risk is involved. And for the same reason, you will have to pay higher interest. They may charge more than 25%. But they cannot charge exorbitant rates against the State Law.

Most dealers won't ask for your credit score, they will be more interested in your ability to make payments. They will also need you to make a down payment for the car, so in future if you are not able to make payments, they won't suffer a major loss. But keep in mind that not making payments is not an option because if you don't, the dealer will immediately repossess your car.

BUY HERE PAY HERE has the following major characteristics.

>> Generally the dealers deal in USED cars only

>> The dealer won't require your credit history

>> You will be required to make a down payment

>> You will have to make payments to the car dealer only

>> Your dealer won't report your loan details to credit bureaus, so the loan will not show on your credit report

A BHPH dealer is different than the traditional dealers.

The financial part is often discussed at the end when it comes to traditional financing whereas it is exactly opposite with BHPH dealers. The BHPH dealer will understand your financial condition and show you the available cars within your budget.

So when you are at a BHPH dealer, you will have to make a choice from the given car options only. Whereas if you are at a traditional dealer you can choose whichever car you like and then go on to the financial aspect.

What are the requirements for BHPH financing?*

If you want to avail a car loan from the dealer, you should-

>> Be a licensed driver

>> Have a stable job

>> Have proof of residence

>> Fulfill the minimum monthly income criteria

>> Pay down payment along with any Title Fee and other fees

>> Have no repossession within the last 1 year unless included in a bankruptcy

Which documents are required?*

>> Drivers License, ID Card

>> Social Security Number(SSN)

>> Proof of employment and income (copy of recent paycheck or bank statement)
>> Proof of residence (copy of lease agreement or mortgage papers)

>> Current Phone Bill or any other utility bills

>> Proof of Auto Insurance

>> Financial Information (bank info)

>> Contact No.

>> References

*This is not an exhaustive list and the dealer may ask for more than this, which you will have to provide.

Payment Options

The payments are to be made weekly or bi-weekly. It all depends on your contract.

The dealer may ask you to physically bring in cash every week. So it is important that you have the dealer near you. Some dealers may even allow you to make online payments or via phone. Some may ask for an automatic withdrawal if you have a bank account. Negotiate even for the payment methods so that it becomes convenient for you.

Also the dealers follow a zero tolerance policy so make sure that you don't make any late payments.

Every coin has two sides - YOU need to be careful

When you set out to buy car and decide for a BHPH dealer, ensure that you understand every aspect.

There are few things that you need to give attention while buying a car.

1> The Quality of Car

It is often considered that the cars that BHPH dealers have in their inventory are the rejected cars (rejected by other traditional dealers). So you should be smart and ask for the history of the car. It is essential that you have an idea of the car so that you don't buy a lemon.

2> Down Payments

If you are in financial trouble, then making a down payment is also very difficult. So at this point of time, a BHPH dealer won't be able to solve your problem. Most of us go for BHPH only when other traditional sources of finance have been exhausted. But you still have the option of going online and availing finance.

If you search, you will get good options of financing your car.

Nonetheless, BHPH is the last resort. If you cannot avail loan anywhere, you can go for this option. So exhaust all other options and if you don't get a positive response from anywhere, then go for BHPH.

All the best!!!

Rapid Car Loans offers bad credit car loans for people with bad credit, poor credit or no credit for new or used vehicles with flexible terms such as no money down and no prepayment penalty through the network of subprime auto financing lenders. Applying for car loans online eliminates the applications or processing fees that are normally associated with getting a car loan through a bank or automobile dealer.

[<<  <  [1]  2  >  >>]    [Archive]

© Pidgin Technologies Ltd. 2016