Are There Good Auto Loans With Bad Credit

There are a wide variety of reasons why someone can have bad credit, and there are a lot more people in the same situation than you might think. Society has built up this taboo around the subject, and that can be seen in the way lenders treat those who have fallen on hard times. When applying for a loan, interest rates can reach 10% above the national average, making monthly payments skyrocket and paying on time a real challenge.

What is someone in this situation supposed to do other than go along with what the big banks have to offer? Well, there are actually a few ways to secure low rates on a reasonable loan, regardless of how your credit looks. Follow these steps, and you will be able to find that auto loan with bad credit and guaranteed approval no matter how impossible it may seem to be.

?Staying On Top?

Getting your credit back on track takes time, but there’s no better way to stay on top of it than to use a credit monitoring tool. Sites like creditkarma.com will help you monitor your score for free, allowing you to track your progress. This will also help you when it comes time to refinance, as you’ll be able to use your improved score as a bargaining chip for even better rates.

?Knowing Where to Look?

With the internet thriving in today’s modern age, there is a wealth of information available to you with just a little bit of research. Find a site that compares lenders side by side while showing you the rates they offer, and what their pros and cons are. Most of these sites will also point out the reputable lenders who work with individuals that have lower credit scores.

Always double check a lender’s track record with state and federal sites, or how they stand with the Better Business Bureau. This will help you avoid any loan sharks looking to take advantage of your situation. If you are unsure of where to get started, these two companies are a great place to start.

?Capital One?

You might only know them from their commercials, like the ones with Samuel L. Jackson, as a credit card company, but did you know that they are one of the top names in lenders who work with bad credit? They have helped thousands finance both new and used cars, and offer online tools such as loan calculators and FAQs to help buyers during the process. They even have a tool called Auto Navigator that will allow you to compare payments on specific vehicles.

One of the best parts about this company is their acceptance of used cars. Buyers can take out a loan on a vehicle up to 10 years old, as long as it is not from a private seller and has less than 125,000 miles.

?Auto Credit Express?

Even those who have filed for bankruptcy will find help from this company. They have made it their mission to provide anyone with bad credit loan options, and the best rates available. You will not be restricted from applying based on a vehicle’s age and mileage, or the amount of money you need to borrow.

How good are they? They happen to hold an A+ rating with the Better Business Bureau!

?Great Loans?

Don’t allow bad credit to hold you back from securing low rates on a reasonable auto loan. With a little time and research, you’ll be able to avoid the common pitfalls that come with a low score and get your credit back on track in no time.

5 Requirements for a Successful Startup

The key to success is by taking as much control as you can over your future. We can all agree that there’s no better way to take control than by becoming your own boss, especially in a world with so many business opportunities.
If you’re thinking about starting a company, then you are about to make the first step towards gaining more control over your future. However, you must ensure that you fulfill all the crucial requirements for a successful startup so you can make your dream a reality.

Here are five essential things you need in order to get your company off the ground.

  1. An unique and Innovative: Product Or Service If you plan to start a company, make sure that you base it on a product that will bring value to your targeted customers. While it may be ok to enter a market and compete with products similar to yours, you will be better off entering with a unique product that caters to the unmet desires or needs or your targeted customers. As you come up with a product, stay focused on satisfying the need you have in mind. A good product is one that is simple affordable and can be easily integrated in to consumers’ lives.
    Keep your product as simple as possible and do not add too many features or messages that may dilute its objective. As you design the product, always have your current and future competitors in mind. You must give your targeted customers a reason to choose your product

    2. Intellectual Property Rights: While there may be no urgent need to hold the rights to intellectual property in a startup, it is still advisable to do so. Having the rights to intellectual property will come in handy when you are looking for more funding for your company at a later stage. Protecting your company’s technology will make it easier for you to win over investors and grow your market share.

Many investors protect their investment by requiring companies to protect their intellectual property. This assures them of protection in case rival companies want to replicate their technology. In addition, a business plan that has a section listing all the company’s major intellectual property will be more appealing to investors.

3. Funding:  All startups need money. Before you start sourcing for funds, work out how much money it will take to get your company off the ground. Then work out how much upfront investment capital your company will need to develop your product. Find out whether you will need a large capital float or not. This will let you know how much funding to source for.
Having a working capital large enough to sustain you in between your accounts payable and accounts receivable may well be the difference between success and failure for your startup.
When you deal with the financial side of your startup, it is advisable to simplify things as early as you can to avoid snags later on. All investors will require access to your company’s financial information before they put in any money. To make this information easily available to potential investors you will need to set up a virtual data room for your company. Among many other things, a VDR will ensure that you deal with speed when sourcing for funds while keeping your data secure and under better control.

4. A good team:  Starting a company in today’s market can be similar to engaging in warfare. You will need a good team of professionals behind you all the way, so that you can get your company to where you’ve envisioned. Pick a team that shares your vision and enthusiasm. Every member of your team should have a specialty or a special set of skills that adds value to your company. Someone needs to know the technical side of the product so that you can keep improving on it. Someone else needs to know the workings of the market and the changing needs of your customer. You also need people who can help you source for funding and keep your accounts balanced, among many other tasks.

5. Good timing:  All markets have a lifecycle. Every opportunity to introduce something new has a rather small window before it expires. Your startup will need to consider the time you introduce your product into the market. Introducing a product too early or too late into the market will usually result into a number of problems that you can otherwise avoid with good timing.
It is easy to enter a market in the early stages of an innovation. However, entering too early can also mean that you will be taking a risk with a market that has not yet been proven. This could lead to a dead end. Entering a market too early could also mean that your investment could take years to bring any returns.
To ensure that you get you timing right as a startup, adopt a fast-follower strategy. This means that you will need to be early enough in the market to cater to a new demand but not early enough to be the pioneering provider for that product in the market.

Exposing Today’s Biggest Credit Repair Myths

If you’ve spent any time at all online researching credit repair, you probably realize that there is a lot more information available than you may have thought.

Unfortunately, some of this information is very misleading. In fact, it can be categorized as misinformation or myth. With that said, let’s now take a look at some of the biggest credit repair myths and expose them for what they are today.

Myth #1: Credit Repair Will Never Work

Some people have unfortunately tried to repair their credit, but since they did not know the art and science needed to make the necessary changes, they automatically assume that it doesn’t work.

Nothing could be further from the truth.

While it certainly isn’t the easiest thing to accomplish, credit repair is certainly possible, and when done correctly you will be able to turn a bad credit score into an acceptable one. And with enough time, patience, and effort, you’ll be able to raise your credit score to the highest levels.

For starters, many credit reports are currently filled with errors. As a matter of fact, it’s estimated that around 80% of American credit reports (four out of five) actually contain errors.

By having these errors removed from the report, you will immediately have a positive impact on your overall score. And that’s just scratching the tip of the iceberg. So, it is certainly possible to improve your credit score. This is a myth that many people unfortunately believe to their own detriment.

According to CreditRepairServices.co, a website dedicated to helping you decide whether you should use a service to repair your credit or not, “To dispute an item on your credit report, you must submit requests in writing to both the reporting agency and the information provider.”

Myth #2: It’s Impossible to Remove Verifiable Negative Information from Your Credit Report

This next statement is almost true some of the time, but it’s definitely not true all the time. And if you take it literally, you are going to be misled.

As an example, let’s say that you have a negative item on your credit report. And let’s assume that this negative item can certainly be verified. Just because it can be verified, doesn’t mean that it actually will be by any stretch of the imagination.

The Fair Credit Reporting Act says that a credit bureau has to investigate and then verify within a reasonable period of time in regards to any item that you have a dispute with on your report.

If information is discovered to be inaccurate, or it’s impossible to verify it, then the reporting agency has to promptly verify the information. Looking at this from the context of the reporting agency and the expected reasonable timeframe, they will literally have 30 days to make the verification.

And if they cannot, then they have to legally remove this negative information from your report altogether.

Myth #3: You’re Going to Get Scammed If You Deal with a Credit Repair Agency

Some people unfortunately have it in their head that each and every credit repair agency is a scam. Unfortunately, this industry gets a bad rap because there are some agencies out there that are willing to scam people. But that doesn’t mean every agency is filled with scammers.

On the contrary, there are plenty of great companies out there that help lots of people repair their credit scores. It all comes down to doing your research to find a great company that will stick with you throughout the credit repair process.

Conclusion

As you can see, there are some serious myths in relation to credit repair. Do your best not to fall for this misinformation any longer.

 

The Ultimate Guide to Business Lines of Credit

A line of credit allows you to withdraw against a specified credit limit whenever you need cash instead of getting the whole amount at once. The advantage of this funding is that you will only pay interest on the amount you have used. This means that you will not pay interest on funds that you are not using.

A commercial line of credit is a revolving account. For this reason, whenever you pay a balance on the line, you will be increasing the amount of money for future use.

What are small business lines of credit?

This funding option allows you to withdraw funds when the need arises. Once you establish your line of credit, drawing is the quickest way of accessing your funds. Since this is a convenient and affordable source of capital, it is a very common tool for many business owners.

Where to get a business line of credit

Small business lines of credit can be obtained from traditional lenders such as regional credit unions and banks. When looking for the right provider, you need to ask yourself these questions:

How much capital do you need? – This funding option tends to have a smaller borrowing limit than a term loan, making it perfect for unexpected expenses but not large investments.

Do you meet minimum requirements? – Most lending institutions have minimum qualifications and require you to have specific collateral.

How much are you willing to pay? – Banks offer cheaper lines of credit than online lenders.

However, if you want to use yours for high-ROI opportunities, borrowing from online providers would be a great option.

How soon do you need it? – Although short-term loans are easy to obtain, a LOC is even faster.

Online lenders vs. banks

Although most lenders usually base their decision on several factors, the qualifications that you must meet vary greatly. Banks have more minimum qualifications but tend to be more affordable than their online counterparts. On the other hand, online lenders provide faster capital access and tend to approve even those businesses that banks will not.

Even if your small business meets the high bank qualifications, you might have a hard time getting a LOC unless you bring other accounts with you. Applying for a bank LOC can be a lengthy process, which involves many trips to the bank and takes weeks. Moreover, establishing an LOC with a bank could limit you from working with other financial partners in future.

Online lenders usually meet the LOC demands of small businesses. Although this line of credit might seem costlier, it could be a good fit if you cannot meet bank requirements. Online providers have come up with a way to provide lines of credit faster with as little paperwork as possible.

If you have bad credit, you can get an online LOC. However, you should consider repairing your credit if you want to get the best line of credit. Consider looking into software reviews for credit repair solutions to find out the best way of repairing your credit.

How to use a business line of credit

Ideally, your business line of credit should be used in the same way that you would use a family credit card: in case of emergencies and to pay for unexpected expenses. An LOC should not be used for big purchases such as machinery or real estate.

In short, you can use them in the following situations:

  • Short-term working capital – they can be used to pay for expenses when business is slow or make payroll;
  • As safety net for emergency costs;   
  • To take advantage of unique purchasing opportunities;
  • To offer customers trade credit more confidently.

 

How Do Credit Repair Companies Work?

Everybody knows how difficult their \ life becomes when they have bad credit. It’s nothing pretty and you’ll be much better off if you can avoid going this route.

Honestly, when your credit is in the toilet, you’ll have a tough time getting a cell phone, getting a car loan, getting a mortgage will be nearly impossible, and nobody’s going to want to give you a credit card.

Plus, even landlords are now using the credit system to evaluate you as a potential tenant. And if your credit score is low, your chances of getting the apartment that you’ve always wanted become really slim.

There is hope though. Credit repair companies can help you turn it all around. When everything else you’ve tried has failed, it’s sometimes best to bring in the experts to help you get your credit score number high enough so that people and companies no longer consider you a bad credit risk.

What Exactly Do Credit Repair Companies Do?

Now, it is possible to do everything that the credit repair companies do yourself, but it might not be the best choice for you for a number of different reasons.

Maybe you lead a very busy life and just don’t have enough time to deal with the hassle of arguing, fighting, and going toe to toe with the three credit bureaus. Or maybe you are afraid that you’re going to make mistakes – which happens all the time – and you’d rather not put in all that work to find out that you did it for nothing. Instead, you’d be happier letting the experts handle your case.

If that’s how you feel, then here’s what you can expect the credit repair companies to do for you.

  1. They will contact TransUnion, Experian, and Equifax and request a copy of your credit report.

 

  1. They will comb through your credit reports and discover all negative information represented there. At this point, they can organize your information to prepare for the next step.

 

  1. They can use numerous proprietary strategies to dispute the negative blemishes to have them removed. In some cases, they’ll have to deal directly with the credit bureaus, and in other cases they’ll have to negotiate on your behalf with your creditors.

According to CreditRepair.Company, experts that can see if credit repair companies are worth it, “Sorting the few legitimate ones from the mediocre services and scam attempts can be a major task. A good solution is to know what to look for in a reputable company.

What Can’t a Credit Repair Company Do?

Now that we know what the credit repair companies are capable of doing for you, will also take a look at the one thing that they cannot do because it’s not within their power or right to accomplish.

First off, you must have an established credit history in order to have it repaired. So if you’re just starting out in life and you have no credit because you have no credit history, the credit repair company isn’t going to be able to do anything for you.

You’d have to build up a credit history first and then make mistakes in order for them to fix it. So at this point you’d have to take the necessary steps to begin establishing a credit history.

If you cannot get a credit card because of your nonexistent credit score, you could always take out a secured credit card and use that to build credit.

Conclusion

As you can see, credit repair companies definitely offer a valuable service. If you cannot accomplish these tasks on your own, it’s definitely worth it to hire someone to take on your creditors and the credit bureaus for you.

 

Build Real Wealth With Penny Stocks: Tips From Timothy Sykes

Investing in stocks is not only exclusive for hedge funds. Even ordinary individuals can buy stocks at cheaper prices and even make good profits from penny stocks.

However, there is risk involved with penny stocks, so it’s recommended you only invest the amount you can afford to lose. One of the easiest ways to put money into the stock market short term is to use personal loans for bad credit but not payday loans.

In trading penny stocks, there are many things you should consider. It’s true that there are many traders like Timothy Sykes who have become successful in trading penny stocks, but they have gone through valuable lessons to where they are at today.

The good news is you don’t have to go through the same mistakes as today we will be going over penny stock advice from Timothy Sykes himself. Let’s get started!

Image source: https://s-media-cache-ak0.pinimg.com

  1. Don’t Be Blinded by Penny Stock Promoters

Most penny stocks are not traded in larger regulated exchanges such as NYSE or AMEX. The most common reason is that these stocks have not been able to meet the requirements of the securities exchange commission (SEC).

The truth is that 99% of penny stock companies aren’t likely to become successful. This is the reason why they are categorized as penny stocks. This is why penny stock promoters work hard to convince people to invest in them.

  1. Have a Realistic Profit Projection

If you are a beginner, you are probably wishing to double your money within a very short period of time. The problem is that trading in penny stocks doesn’t consistently offer such opportunities. There are times your profit is high, but there are times your losses are high as well.

Timothy Sykes only settles for about $0.50 profit per share for every trade he makes every day. With this profit projection, he can get in and out of trades frequently within the day.

  1. Do Not Underestimate Risk

When trading penny stocks, don’t focus only on opportunities; instead, measure the amount of risk based on time. You should respect the risk involved in trading penny stock as much as you respect the corresponding opportunities. The higher the return you want, the higher is your risk.

Sometimes, the market can be deceiving as you can see a consistent upward trend that will convince you to make a decision. However, right after you jump in, prices may drop to its historical low even just after a few minutes. This is a common scenario in penny stock trading, so you have to be careful all the time.

  1. Record Your Success

When you make some winning trades, you should create a personal trading journal. Although most trading platforms automatically saves data and provides comprehensive analytics; it’s still best you keep your own record in a manner that isn’t too complicated for you.

  1. Don’t Forget Yourself

It’s common for traders to spend all day monitoring the market and to spend all night studying it for the next day’s trading.

Because of this, most traders forget to eat or sleep. Don’t forget the market, but don’t forget yourself, too.

Conclusion

Investing in penny stocks is becoming more and more popular these days. On the contrary, more and more people also become cautious of trading this type of stocks.

This is because there are more losers in this type of trading than winners. If you want to increase your success in trading penny stocks, the above tips from Timothy Sykes are worth pondering.

 

Personal Loans for People with Bad Credit

A bad credit score is one that is below 630 points. However, bad credit should not stop you from getting a personal loan.  Some online lenders deal specifically with people who have a bad credit score. They take your credit history and score into account when deciding whether to give you money; moreover, online lenders have requirements that are more flexible than those of banks are.

Although bad credit loans from online lenders can be good for most people, you should visit your local credit union whenever you need a loan. Credit unions offer lower rates of interest and flexible loan terms, even for people with bad credit. The highest interest rate that a federal credit union can give you is 18 percent.

If you do not qualify for a credit union loan, you need to compare offers from several lenders before you agree to take out a specific loan. Bad credit loan rates usually vary drastically from one lender to the next, depending on the underwriting requirements.

How to compare loans for bad credit

To get the best rates for personal loans for bad credit, you need to compare several lenders. Borrowers with fair or bad credit scores, which are a result of high credit card balances or late payments, usually pay more for personal loans than those with good credit pay. You should consider securing your loan by having a cosigner who has good credit or using collateral. Remember that even the highest rate of interest from an online lender is much lower than that of a payday loan.

The key deciding factors when choosing a loan should be the rate you will pay, including monthly payments and other fees. However, if you have bad credit, you should also look for the following:

Does the lender report to credit bureaus? – A lender that reports loan repayments to the major credit bureaus will assist you in improving your credit score. This means that you should only consider the lenders who report to the major credit bureaus.

Can I prequalify with soft credit checks? – Most lenders usually pre-qualify borrowers with a soft credit check. Doing so allows the borrower to see your monthly payment and rate before a loan is approved. However, most lenders do a hard credit check for final approval, and this may lower your credit score.

Are there ways to reduce my rate? – You may be given the choice to reduce your rate over time if you show that you are financially responsible by building savings and paying your debts down.

Secured and co-signed loans

If you have trouble making multiple debt payments, you should consider a debt consolidation plan. This kind of loan usually combines all your monthly payments into one big payment with a lower rate of interest – this could save on money in the end. If your credit score is preventing you from getting an unsecured loan, you should try your luck with secured loans.

Real estate properties and cars are the most common types of collateral used to secure loans. A few lenders will also allow bad-credit borrowers to use a cosigner who has good credit. You might get a lower rate of interest if your cosigner has an excellent credit score. However, you should know that if you default on paying the loan, your cosigner would be responsible for paying it.

Are you borrowing money to pay off another loan? A personal loan is the best option if you have a plan for handling your debts. Starting a savings habit and making a budget are the first steps towards building a better financial future.