Buying a car is an important decision, both in personal and financial terms. You need to do your research and know exactly what vehicle will meet your needs in an affordable manner. The choice of buying a new car may be financially prohibitive for many people and it would make more sense to buy a used car instead. Here are some things that you need to keep in mind before settling on a specific used car.

What’s Your Budget?

The most important question to ask yourself is not how much money you can raise, but how much you want to spend. At a pinch we can all raise more money than we can happily afford to spare. This means that you will be cutting back on several other things for months. So stick to the bare minimum amount and not only will the financial burden not seem so great, but you will also have extra cash easily available for additional expenses that are associated with buying a used car. Things like insurance, road tax, title change and car registration will usually add up to a pretty sum, even for a used car. Usually the rule of thumb is that these extra expenses work up to about ten percent of the cost of the car, get a better idea using www.autoloancalculator.org.

Carry a Checklist

When you go to the used car dealer make sure that you have a checklist with you. On this check list add all the points that you want or do not want in your used car. Things like the vehicle’s service history, condition of the engine, how old the tires are, what is the mileage on the odometer, check metal parts for wear and tear, any tears in the seat upholstery, fluid leaks that may be visible, and any other points that could be a deal breaker. Make sure that you go though the points of the checklist on any vehicle you happen to like. Also remember that tiny scratches on the body of the vehicle are acceptable but a problem with the actual engine is not. Prioritize the items on your check list and remember to think with your head not with your heart when you actually see a car you would like to own.

The Moment of Truth: A Test Drive

No matter how good a vehicle looks in the showroom, you need to get behind the wheel to find out its true worth. A test drive is very often the moment of truth for a used car. So make sure that you insist on a test drive before you seal the deal. Pay attention to the sound of the engine, the comfort of the seat, the lights on the dashboard, the proper functioning of all the instruments, and of course test the breaks. If you hit any snag, no matter how small, make sure you find out exactly what the issue is, and if it can be rectified. Now that you are sure that the car meets all your requirements, go ahead and buy it.

When you are thinking about retiring money is an important factor. You have worked hard all your life to save into that pension pot, pay off the mortgage and finance the kids through university. One of the first things you may do is contact your financial adviser for the latest report on your pension. Having an appointment to chat face-to-face is beneficial as you can both explore strategies to maximize your pot. Doing this early will help you revise your retirement date, and provide you with that all important countdown.
 

It’s usually around this point in life that one of your children will ask you for a big pot of money to help them buy a house. Rarely has it ever been so difficult to get on the property ladder. It was certainly easier in your day. You may have grandchildren to consider, but you can’t help reminding your offspring you’ve only just helped them finance a car, or pay off their student loan!

It is disappointing to find yet another reason to delay the date of your retirement, but being able to help your kids is great if you are in a financial position to do so. After all, renting can cost around 50% more than the monthly repayment on a mortgage. Ultimately, your children may have no where else to turn to when it comes to financing a new home.

Be sure to go in with your eyes wide open. Be active in helping them choose an appropriate dwelling. The money from you may be coming as a tax-free gift, but that doesn’t mean you want to finance anything more than the essentials. We all have aspirations, but your children’s aspirations and dreams are for them to finance, not you. Picking one of the many small homes for sale in their desired area should be a joint decision. Both of you need to visit the property at least twice. Check there is room for improvement that can help generate equity for resale when your child is ready to move on. It should be a financial investment.

Finally, check that the property you have in mind is showing an upward trend in value. If that increase year on year is better than the interest rate you would be getting on your ISA, it could be a sound investment. Of course, if you are providing a tax-free gift to your son or daughter, you will have no investment to speak of. However, you are investing in your child’s future. You will want assurances that if you help them on the ladder with this property, they will be able to use to move up.

Once all the paperwork is in place, and the house sale is complete, you will no doubt be roped into helping out on moving day. While handing over a chunk of your savings may seem painful at first, seeing the delight on your child’s face as they unlock the front door of their new home will surely be worth it. You are a hero again!

Some people feel put off buying foreclosed homes, as they are previously repossessed or distressed properties. However, there’s a chance you could do this and shave 30% off the standard market price. You would save a fortune! You may have to put in time and effort, but it’ll all be worth it when you have a perfectly renovated, bargain house. Here are our top tips:
 

Top Tips for Buying

Don’t misunderstand this information: buying a foreclosed home can be very dangerous. This is why it’s absolutely essential you do your research before you buy a foreclosed home in Hornchurch, for instance.

If you take into account everything in this post, there’s no way you can go wrong. Use your common sense, don’t make any rash decisions, and be sure you know everything there is to know about a property before you slam your money down on the table.

When you are thinking about buying a home, you need to know whether you can cover the costs that the property will entail. People often rush into buying a house because they think they should. Different people have different needs and priorities. What is right for someone else won't always be right for you. Before you make any serious decisions about your future, you need to weigh up the cost of buying a home. Not everybody can afford to be a homeowner. You need to decide whether investing in property is a viable option for you. So, can you afford to buy a home or not?

Saving money for your deposit

The first hurdle you have to overcome when buying a home is finding the money for your deposit. There is nothing easy about saving a large bulk of money. For the next few years, you will have to dedicate yourself to saving money for your new home. That means that any time you have spare cash, you will have to store it away in your house fund. Not everybody finds saving easy. Look at money saving tips and guides to help you. You will need to save around 10% of the home’s value to put down a reasonable deposit.
 

Who will give you a mortgage

Your financial situation will determine what mortgage you can get on your home. Mainstream lenders will not give you a mortgage is you have a lot of debt or a poor credit history. Make sure that you budget for the worst case scenario. If you find it hard to get a mortgage, you might need to save a larger deposit before you get a house. That means that you will need to wait longer to buy your dream house. Improve your credit score before you try and get a mortgage.

The hidden costs of owning a home

You may think that owning a home involves simply paying the mortgage each month. There are many more costs to home-owning than you might imagine. Make sure that you understand all the costs you will need to pay before you enter into any contracts. You will need to pay tax on your home, as well as ground rent and maintenance if you live in an apartment. Make a thorough budget so that you understand the total cost of your property.

Will the value of the property rise?

One thing you will need to know before you buy a home is whether the valuation is likely to rise. The last thing you want to do is buy a home and lose money on it in the long run. Talk to Walsall UK property consultants about the property you wish you buy. They will tell you whether your property is a stable investment. You can also research the market yourself before you buy a house. Look at how the market has fluctuated over recent years. The pattern of the market in the past will give you a good idea of what will happen in the future.

Inspecting the home before you buy

A surefire way to lose money on a property is to buy a house before you have inspected it. Send a conveyor around to your chosen property before you make an offer. He or she will tell you whether you need to make any vital improvements to the house and how much it is worth. Ensuring that you find a property with no serious structural damage will be best. You need to make sure that you're not wasting your money. Once you sign the house contracts, there is no going back.

Over the last few years, you’ll have seen a surge of gold investment opportunities. There are even shops on the high street now offering to trade gold. They’ll pay you to take your old jewellery off your hands or trade some valuable coins. The reason for this is that gold is a solid investment. In the aftermath of 9/11 it was one of the only assets that increased in value. Everything else on the stock market crashed.

The stock market is always uncertain. This has been exacerbated by the recent global slump, so gold was considered a safe place to invest your money. However its value has leveled out somewhat in the following ten years (probably due to this huge rise in trading). It leaves many asking the question, “Should I buy gold?” Let’s take a look at the pros and cons and see where the value is.

Pros

Gold is considered one of investments ‘safe havens’. It retains a solid footing on the stock market, rarely fluctuating too much. This is because it is not tied to currency. In difficult economic times, the government often prints more money. They do this in an attempt to increase circulation and keep people and companies trading. However, it does devalue the currency. As there is more in circulation, its real worth decreases. This doesn’t happen with gold. It retains its worth.

People will always value gold. Gold is a symbol of wealth and luxury. Its value is placed higher than most precious metals. It is ingrained into our society and culture. Wedding rings will always be made of gold and it will always be used to adorn our prized possessions. Gold holds a cultural worth that goes back centuries and will hold into the future. Very few other investments can offer this.

There is a finite amount of gold. You cannot just print more. There are only so many gold reserves in the world and it takes time and effort to mine it. Where there is a finite resource, its value will always hold. Buying gold is a great idea when building a portfolio of successful investments.

Cons

Many investors decide not to invest in gold because it simply doesn’t do anything. It is mined from the ground, bought and then kept behind closed doors. It has no practical application which means it will never see a global soar in value. It isn’t like cobalt which now has a practical application in mobile phones, for example. Gold will always be a fashion item, or a decoration. It is already as culturally valuable as it is likely to get. It means you’ll never make a huge windfall by investing in gold. Gold won’t make you a millionaire.

It can also cost you money to store it. Some investment deals will come complete with storage options, but not all. Check to see how much it will cost to store and make sure your investment is worth the money.

In the end, it’s a personal choice. There aren’t many downsides to buying gold. It is a safe investment. Many use it as a form of insurance for their portfolio. It will never make a million, but it will always keep you steady.

There was a time when you dreaded Monday mornings. Trying to ease your way back into another working week was horrible. In reality it felt like you were being thrown in at the deep end, complete with headache, exhaustion and despair. Now those days are coming to an end or may be already over. Your mortgage is paid, and the kids are long gone. Retirement sounds like a heavenly chorus. After all, you’re not quitting, you’re moving on. You are about to start a wonderful new chapter in your life that doesn’t include Monday morning headaches. Or are you?

The reality of retired life isn’t quite so heavenly to some on a lower pension income. Some people want to stop work but can’t afford to. There is a way to make all those years of hard work pay. Your home has gobbled up your income in the past in mortgage repayments, but Irvine reverse mortgages can make your house pay you. A reverse mortgage is a simple way of drawing an income or cash lump sum from the value of your home.

There is no need to make any repayments on a reverse mortgage during your lifetime. Reverse mortgages like Irvine reverse mortgages pay you until you pass away. Your beneficiaries can choose to repay the loan by refinancing the house. Alternatively, a reverse mortgage can allow the bank to take over the house as full payment to clear your loan when you have died. At no point can your beneficiaries be personally liable for your reverse mortgage repayment. The lender cannot take title of your home or remove you while you still occupy it.

In addition to providing an income for those who want a better quality of life, it is also possible to take a cash lump sum from Irvine reverse mortgages. This may help pay off your outstanding debts or go toward a new project or purchase. It may even help you look after a family member.

It is always a good idea to do your research before applying for a finance package. Reverse mortgages are a great way to provide some income, but you need check they are right for you at this time. Interest rates can increase the older you get so think carefully about the best time for you to apply. You will need to complete approved counselling before your application. This ensures you fully understand the agreement.

Before you head out that door on Monday morning to face another week of hard work and unhappiness, think about what your home can do for you. You have nurtured it, painted it, extended it and furnished it. You’ve fixed the cracks and tidied the garden, and even invested in some new cladding. Your house has been well looked-after and you provided everything it needed to make it a home for you and the kids. Reverse mortgages give your house a chance to repay you for your kindness and investment over the years. It's time for you.

Investing in a Commodities Futures Contract can prove expensive and extremely risk prone for a retail investor. Instead it is a good idea to consider investing indirectly in commodities using a Mutual Fund. However, as with other equities, the investor should remember that not all funds are created equal. So it is important to ask some pertinent questions before picking the mutual fund you wish to invest in. Your broker would be a good source of information on current funds that are doing well. If you have some idea about the market you could study them up yourself and pick a good commodity mutual fund to invest in. Here are some things to find out before you pick one.

Objective and Investment Strategy

Each mutual fund has its own objective. One may focus on income investing, another on capital gains, and a third on long term investment returns. In order to meet the objective each fund has an investment strategy. The percentage of the principal it invests in commodities will accordingly vary. It would be a good idea to scrounge through the investment documents to note how they plan to spend the money you invest and also find out who the fund manager is. This will give you a good idea of how and where your money is likely to be invested by the mutual fund.
 

Previous Track Record

The fund you invest in may be a new one, in which case you should find out the name of the fund manager and see how funds he has managed in the past have fared. If it is an older fund, say five years or older, then the figures of return on investment will speak for themselves. You will be able to track how the mutual fund has performed in the past and dealt with ups and down of the market. Of course the past track record is only indicative of how the future performance may be. There are no guarantees that the fund will do as well as it did in the past in the near future. That is a risk that you will have to take on your investment.

Minimum Investment Amount

Different funds have different investment amounts for people entering the mutual fund. Some funds have a higher minimum amount for individuals but a lower one for those investing through commodity brokers.  There are also different classes of shares in a mutual fund. Each class has its own value and you will spend more or less per share based on the share class you decide to invest in. You will need to find out what the minimum investment, applicable taxes, fees and expenses involved will be. Remember these expenditures will cut into your profits from the mutual find. Hence the lower the fees and expenses of a fund, the more of profit you get to take home with you.

After you have found out all the details about a suitable mutual fund, you should invest in it. Remember to monitor it closely and cut your losses if something wayward begins to happen.

It is the general practice with the lenders to be guided by the credit worthiness of the applicants for loans. The lenders also take into consideration whether you have any considerable savings or some assets in the form of bonds and shares. Particularly when they consider applications for unsecured loans, the lenders do attach more importance to the credit aspect. Because, if it is a secured loan, they can have a hold on the securities offered as collateral. It is not so in the case of an unsecured loan. That is why credit plays a dominant role in an unsecured loan. If the credit score of the applicant is good, they have no anxiety about the return of the loan.

On the other hand, if an applicant’s credit score is somewhat poor, the lenders feel that there is an element of risk involved in respect of the loan. Therefore, they charge a higher rate of interest on the loan. In view of this, you would do well to improve upon your credit score gradually so that it reaches the top level. This should be done before you make an application for loan. Having a good credit score means lower interest rates and competitive terms. With these advantages, you will enjoy another advantage, i.e. lower monthly payments. So, it becomes all the more necessary for you to improve your credit score considerably.

Traditional loans are approved without much of a problem if your credit was and is good. The lenders would like to know about your past as well as present credit history. They would require complete details such as when you had credit problems and how many times you defaulted in making repayments or failed to make payments on the due dates, etc. Based on these details, they would work out as to how they could minimize the risk in the transaction. In short, your credit history, at the moment, does help the lender in his assessment of your current financial status. They form an idea as to what they could expect from you. By and large, lenders base their decision only on the past history of the applicants. Some lenders, however, attach more important to the present credit history of the applicant.

A credit report, covering the last six months, will give a complete picture and with the help of such a report, lenders take their final decision, whether or not to give you a loan. If you want cultivate a sound ‘credit behavior’ inclusive of financial discipline, you should see that you do not miss any payments and that there is default. Also you should make it a point not to make requests for credit cards or apply for loans. These acts of yours will go a long way to improve your credit score. Based on your credit details you can yourself decide on the amount of loan you can ask for.

If you have a high debt exposure, you will have only limited chances to get more funds. As already said, the lenders, while they consider the loan applications from such people with high debt exposure or poor credit score, take all these factors into account before taking a decision on the loan application. If your present credit history is good, even though the past credit history was just the opposite, lenders may adopt a lenient view and consider your loan application favorably. The interest rate and terms of payment, etc. will, however, depend on the factors mentioned earlier.