Finding an auto loan with bad credit.Written by N Hynes
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If you have fair to good credit you should have no problem getting approved. If you have bad credit you can find lender who will work with people with poor credit. The downside is loan will cost you more as poor credit means greater risk for lender and therefore a higher interest rate to you.
Most car dealerships are also happy to arrange finance for you. First, you choose vehicle you want, test drive it and make decision to buy it. The majority of car dealerships are honest and will gladly help you find best rate of interest and save money on a car loan. However be sure to check out online lenders first be sure you are getting best deal from your auto dealer. Car Loan Finder
(c) Noel Hynes, 2005. Reprint rights granted to copy and publish this article so long as the article and by-line are reprinted intact.
Mortgage sales hit problemsWritten by Richard Green
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These figures are disappointing when viewed against backdrop of initiatives by Gordon Brown to help first-time buyers, through increase in zero rate stamp duty threshold announced during budget, and introduction of shared ownership schemes with purchasers owning between 50% and 75% of their home and paying rent on remainder. Recent reductions in cost of loans for first-time buyers has also occurred, and many experts believe that base rate may fall further, creating a spark for further reductions in cost of monthly mortgage payments. These should all be seen as good news, but new buyers still do not appear to be convinced that now is right time to buy. “There are other important influences affecting this group other than straight affordability issue”, GMAC’s, executive chairman, Stephen Knight, reported, “Buying property is seen as ‘settling down’ among 71% of those questioned….More than half of people studied felt comfortable with delaying buying a property until they are over 30. This matches with current average age of a first-time buyer, 34.” Stephen Knight also stated that an increasing problem for those who go on to higher education is that, “many graduates, especially those who leave college with large student debts, are unwilling to take on additional financial commitments.”
According to research from Moneynet, first time buyers during May were looking for an average mortgage amount of £135,966 for an average property value of £205,284 on an average salary of £39,027. With average single UK salary around £24-25k, current house purchases are therefore generally requiring combined funds available from dual incomes, combined with many young families being worried about job security, Stephen Knight believes there are clearly social and financial issues that need to be addressed.
The greatest worry for a quarter of would-be buyers according to Edinburgh Solicitors Property Centre is that they feel that if they don’t get on to property ladder soon, they never will.
References: Moneynet (http://www.moneynet.co.uk/mortgage-research/index.shtml) Edinburgh Solicitors Property Centre (http://www.espc.co.uk/) GMAC (http://www.gmacfs.com/) Sunday Herald (http://www.sundayherald.com)
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