How to Buy a Car for Less

by: admin - May 13th, 2013   Filed under: Personal Finance Add Comment

canstockphoto5695432With the economy still struggling to recover, motorists all over the world  will no doubt have been feeling the pinch when it comes to fuelling their vehicles and keeping them on the road. While the purchase prices for cars have remained equally as high, the slump in global finance has not been enough to deter sales from continuing to grow year on year. The simple fact is; there are now more ways than ever to get your hands on a good quality car for an even better price.

Never rush into a sale

Car salesmen know all the tricks of the trade and entering into negotiations can at times feel intimidating. In order to ensure you get the very best deal on your chosen car, you need to know as much about the vehicle as the dealer does; this is why it is imperative you do your research and shop around. Even when you have decided on the best dealership for you; making several visits and conversing with the dealer can make you feel more at ease when it comes to working out the final deal with them, by having familiarised yourself with their sales patter beforehand.

Be budget conscious

It is always best to begin your search for a new car with the clear knowledge of exactly how much you can afford to spend. Real gems can be found to suit any budget, so working out your maximum outlay and then trying to shop below this level will ensure your finances never run dry and you avoid slipping into car related debts.

Organize finance before a purchase

Many people use car loans to help fund their purchase but this money should be organized before you enter into negotiations to allow the deal to run as smoothly as possible. With an online car finance calculator you can estimate what your monthly repayments will be to ensure you get a deal that will work for you while simultaneously granting you the money you need to buy your dream car.

Size matters

Generally speaking, the bigger the vehicle the more expensive it will be not only to buy initially but also to fuel, insure and maintain in the future. Smaller, more compact cars will set you back less to get your hands on one and take you further for less money. Commanding SUVs may look great but if you don’t need and cannot afford to run one, then opting for something more suitable will save you a lot of cash.

Personal Contract Purchase

Personal Contract Purchase (PCP) is becoming an increasingly popular way of obtaining a new car for less. You pay a deposit on the model you want and immediately gain use of the vehicle. You will then pay monthly instalments over an agreed period of time until the end of your contract. The estimated value of the car at the end of your contract will have been deducted from what you have paid and you can either pay this sum and take full ownership of the car or return it in exchange for a new deal on a different model. This is a great way of regularly gaining access to the latest cars without ever paying the full purchase price.

Lying on Your Life Insurance Application: What is a Lie?

by: admin - May 8th, 2013   Filed under: Insurance Add Comment

canstockphoto8654543Unfortunately, in some cases, those who are looking into making a life insurance purchase are doing so with a bit of reluctance. They understand its necessity and benefits, but the idea of factoring it into their budget brings on migraines; especially, if they have any kind of significant medical history, or ongoing medical struggles.  You can click here to visit Suncorp directly.

This is where scribbling a few little white lies down on their life insurance application becomes a temptation—after all, when one little lie can possibly save you a few hundred bucks a month, what’s the harm?

What most don’t understand is that there is a lot of harm that can be caused from committing insurance fraud. I know what you might be thinking… “I mean, that’s an exaggeration, right? It’s not really insurance fraud, right? …. RIGHT?!”

It is! Sure, it will save you money while you’re alive and well, but what happens when you pass away and the very purpose of your life insurance policy comes to fruition; who pays the price? Your loved ones. That is, if you don’t get caught right from the get-go.

Before you hyperventilate, it’s important to understand what is and what isn’t a lie. In some cases, there is such a thing as just having bad luck and poor timing.

A WARRANTY LIE

This is any item on your application that can be filled in with full guarantee from the applicant that it is the whole truth and nothing but the truth. With these items, there’s no wiggle room—if it’s determined to be a lie, there’s going to be almost nothing you can say to get out of it.

This kind of lie would be to note on your application that you’ve never had any kind of previous heart condition, when you in fact had open heart surgery a month before your application.

Typically, you won’t succeed in getting away with a lie on one of these items, either. They are extensively investigated by the insurance company when you apply and if you’re caught, you will not only have your application rejected, but a record of this offense will be filed with the Medical Insurance Bureau (MIB: mibgroup.com), which will alert any other insurer that you might apply with.

If you do make it past the application phase with the lie and it’s discovered later, your contract will be voided and your premiums refunded.

A REPRESENTATION LIE

This is any item on your application that is filled in only with the applicant’s fully educated belief to be true. To the best of your ability, you know this to be true, but there is the possibility for human error, or discovery that it could be false.

Using the same example as before, this type of lie would occur if you noted on your application that you’ve never had any kind of previous heart condition, and then a week later it is discovered that you did all along (a first diagnosis).

When this kind of lie occurs, with no deliberate intent to fool the insurance company, there typically won’t be repercussions, only adjustments. From insurer to insurer, it will be different; some policies come with a contestation period attached and they will alter your policy and premiums according to what your new condition is. Others, will only look at your health at the time of the application and as soon as it’s accepted, you’re free and clear.

Benefits of Not Paying Off Your Mortgage Early

by: admin - May 6th, 2013   Filed under: Real Estate Add Comment

canstockphoto6625777You’ve probably heard a lot of advice saying to pay off debts as soon as possible. Yes, a mortgage is debt and it often comprises a large portion of a homeowner’s monthly expenses. While paying it off early definitely has some advantages, it also comes with significant drawbacks.

First, mortgage interest rates are currently at or near their lowest levels on record. If you recently borrowed money to buy a home, you probably got a much lower rate than somebody who bought their home five or ten years ago. The interest savings from making extra payments won’t be as significant. If you bought your home before the housing bubble burst and currently have a higher rate, you might be able to save a lot of money every month by refinancing at a much lower rate.

Second, the money you spend making extra mortgage payments is money you can’t use for other purposes. If you don’t have an emergency fund, you would probably be better off using the money to start building one instead of paying down your mortgage. This can be a huge help if you lose your job or have some other large financial setback. Sure, you’ll build up more equity in your home, but you’ll have a much more difficult time getting a home equity loan if you don’t have a job or are in some other form of financial distress. Aim to set aside enough money to cover six months of living expenses before you consider paying extra money toward your mortgage.

If you’re not contributing the maximum allowable amount to your 401(k) or other retirement accounts, you are missing out on compound interest. A little extra money invested in an interest-earning account now can add up to far more later than what you would save by paying off your mortgage early. You won’t see any advantages from compound interest by paying your mortgage early.

Also, consider your kids’ college educations. Are you saving enough for them? If not, paying extra money toward your mortgage probably doesn’t make sense. College costs are only going up, so if you save more now, your children will have more options when choosing a school and will graduate with less student loan debt.

Third, any extra money contributed to your mortgage is money you can’t use to pay off higher-interest debts. Credit cards generally have much higher interest rates than mortgages. If you pay the minimums every month, paying them off can take longer than paying off a 30-year mortgage! This is because a minimum credit card payment is mostly interest and very little principal. Any money paid in excess of the minimum payment goes toward principal. Simply put, you shouldn’t pay more money toward your mortgage if you have any outstanding debts with higher interest rates.

Not having a house payment every month can certainly provide a lot of extra money to use for other purposes. Getting to that point, however, is extremely time-consuming even if you make extra payments toward your mortgage every year. If you are well-set in all of the financial situations described in this article, making extra payments is certainly something to consider. If not, however, you will probably be better off using any extra money toward those purposes instead of trying to pay off your house early. For more information, go to www.homeownersinsurance-quotes.org/.

Save Money on Storage Spaces

by: admin - May 6th, 2013   Filed under: Personal Finance Add Comment

canstockphoto13629631There are several reasons that someone could be between residences. A new job in a distant city that requires an immediate move; a foreclosure that requires you to vacate a home; or, simply deciding to downsize, and the lease for the old place ending before you have found another place.

In most cases you can find a place to stay, be it with a friend, with family, or at a hotel, but you can’t say the same for all of your stuff. This is where self-storage comes in handy.

Self-storage units give you the ability to keep your items in a safe environment until you are able to retrieve them. But storage units cost money, and if you are saving up for a new place, or trying to cut expenses they might seem counterproductive.

But there are ways to save money while renting a much-needed space for your stuff.

Decide What to Store

Sort through your possessions before you rent a space and separate the stuff you absolutely must keep from the things you can live without.

Sell the stuff you don’t need on consignment, or at a garage sale, to raise money for the storage rental.

By reducing the amount of possessions you have, you can reduce the amount of space you need to rent, which reduces the overall cost. Also, consider storing items that need a climate controlled environment, like furs, at a friend’s house – climate controlled storage units are generally more expensive.

If you can’t do a preliminary purge, rent a unit big enough for all of your stuff, spend the first month sorting and purging, then downsize to a smaller unit.

Shop Around

Once you have decided how much you need to store, you can then find rental places near you that have the best rates. Rental rates depend on the size and number of units you rent, as well as the type of unit.

You can often find rate information on the web, or by calling the company directly.

Circulars and door hangers could also include information on self storage in your area. And, of course, you can always just walk in and ask for rate information.

But cost isn’t the only factor when deciding where to store your belongings.Other things to consider include how close the facility is to where you are currently staying, whether the facility is well lit, and staffing hours.

If you have to move in a hurry, you probably won’t be able to shop around as thoroughly, but you can still do a basic web search of places in your area for basic information on rates and availability.

Set a Deadline

Set a deadline for yourself and only budget to rent for that amount of time. Some places could give you a discount for paying in advance. If you have the funds, consider paying for the full rental term up front.

Be realistic. You might want to find another place within a month, that’s not always possible. Take stock of the market in your area, and be honest with yourself about your situation. Because while you can always extend the rental terms, if you’re on a tight budget the extra rental time could eat into your funds.

It’s better to budget for more time than you need, than find yourself having to scramble to find cash for another month’s rental.

Storage spaces might seem like an unnecessary expense, but they can actually be lifesavers. While you are looking for a new place to live, the last thing you need to be worrying about is your stuff.

A storage space will take care of your possessions, while you focus on more important things.

Nissan: Cheaper Cars for Every Market

by: admin - April 28th, 2013   Filed under: Spending Money Add Comment

canstockphoto0496999We all approach buying a car from a different angle, with everyone coming from different circumstances, with greatly differing budgets and requirements for our new vehicle to adhere to. No matter our primary concern when buying a car however, we would all like to think that there was a manufacturer that offered a cheaper solution than other mainstream alternatives. Recent times have suggested that Nissan may well be emerging as that very company; with vehicles tailored towards greatly different segments of the car market, yet all offered at competitive prices when compared to their rivals.

Environmental

Nissan was one of the first to enter the now growing market for eco-friendly vehicles, with the 100% electric Nissan Leaf widely considered one of the best of its kind. With rising fuel costs and a much greater awareness of the devastating effects of carbon emissions (very much abundant within the automotive industry), the Leaf was seen as an affordable car that not only boasted the much lower running costs for consumers that electric cars typically offer but a much more budget friendly asking price as well. The financial benefits of the Leaf were considered so substantial that Nissan released an entire ad campaign focussed around this feature.

Family Friendly

Standard Nissan cars were already generally known for providing space at a competitive value for money but following the early success of the Leaf, Nissan began work on a follow-up to the popular environmentally friendly car. Having just launched within the last couple of months, the updated version not only has shorter charging times but comes even cheaper than its predecessor. This has all been an effort to try and make typically expensive electric vehicles more attainable for families, with the hopes that the Leaf could become a prime option for a day-to-day run around.

Low Budget

Many people, particularly in the current economic climate, do not have excessive amounts of money to spend on cars but this does not mean they do not require them, nor that they would not like to be able to buy a new model without feeling obliged to opt instead for a used one. 2014 will see the full return of the Nissan Datsun after having been out of production since 1983. Six different versions will be launched in emerging markets such as Russia, Indonesia and South Africa with an asking price of around just $3000; considerably lower than any other new car available today. There has also been a suggestion that the low budget vehicle may make the move to US and European markets at some point in the future, further widening choice for consumers.

Luxury Supercar

Opting to purchase a luxurious, powerful and modern supercar is never going to be a cheap option but with the Nissan GT-R, they have provided the nearest solution currently available. With some media outlets and reviewers hailing it as possibly the world’s cheapest supercar on the market, it offers the same flashy aesthetics, speed capabilities and immense engine power of its rivals but for a mere fraction of the price.

No matter what you are looking for from your car, it seems that Nissan will be able to offer it to you at a much better price than you would perhaps have expected at first.