Car Loans – All About Car Loans

By car loan is meant a loan where the car is pledged. Mortgages in real estate or a guarantee from a guarantor for such loans are not defined as car loans. Mortgages can be interesting because you get lower interest rates on the loan. Loan against bail may be necessary because you do not have sufficient collateral in the car. Read more at echase.org

Here’s what you need to know about car loans .

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Gradually, most banks have begun offering mortgages in the car. Previously, the finance companies were unanimous. Due to high fees, the financing companies are performing poorly. Term fees are often particularly important because the loans are on average quite small.

Also, be aware that it is quite common for car dealers to have very special financing options associated with a campaign. Such offers are often favorable and should be exploited to the full.

It is difficult to get a car loan if you buy the car privately.

car loans

The maximum repayment period on loans with mortgages in the car is normally seen as 5 years. For small amounts or older cars, it may be shorter. 
Normally, you must have 35% of the purchase price in equity. If the loan goes through a dealer, 35% equity is statutory. However, if you go directly to a finance company, you can get a higher loan. However, this depends on your credit rating.

If you have the opportunity to pledge real estate, as mentioned, you can get cheaper loans.

car loan

But it depends, among other things, on what kind of priority this loan gets. Smaller loans, and loans with a second priority, must be taken out in bank. But it is by no means certain that the effective interest rate is lower than on the best car loans. If you are mortgaging the home, you must also pay as much repayment as you would otherwise on a car loan. It doesn’t make sense to finance a car with a 20-year mortgage, just so you know. One final point here is that you use up the mortgage space which can be useful for other uses. We recommend RealFinans car loans, which you can find on our right side. Read more about Car Loans and Loans with Mortgage in the Car.

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car loan mortgage

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The best home loan in the market today

Nowadays, everyone in our country is likely to have come across the subject of home purchase and home loans, even if through acquaintances. Those who claim that it is not easy to get your own home these days can only partially agree.

It is true that house prices are skyrocketing, especially in the capital, but we do not have to stick to second-hand homes at all costs, but we can also look at new builds, thanks to interest rate subsidies and increasingly popular mortgage loans.

There is nothing better than a state-subsidized home loan!

bank

Some people do not know much about CSOK10 + 10 home loans, so here is a brief introduction. We will briefly explain what is the big advantage that puts it ahead of other home loans, why is it considered to be Hungary’s most advantageous loan?
A government grant of $ 10 million, which is non-refundable and is accompanied by a $ 10 million interest-subsidized home loan if the conditions are right for applying for the loan. Families have a big advantage with the first $ 10 million when buying a home. The detailed description of the product also convinces everyone that the other $ 10 million home loan is a huge benefit because of the interest subsidy, we can say there is no better home loan in the credit market.

According to the regulations, the 25-year loan will have a favorable interest rate subsidy and the rate will be 3% fixed interest rate.

There is no credit on the market that can compete with this home loan

When comparing home loans, we find similar favorable loans only for those with variable interest rates within a year. The interest, which changes several times a year, immediately pulls down the installment payments – it increases.

The CSOK 10 +10 loan is the only one where the borrower can feel safe, no matter what the interest rate increases, the state subsidy will increase to such an extent. The State will increase the subsidy in order to ensure that the beneficiary borrower will not have to pay more than the required 3%.

Let’s compare the new loan to the previous, similar conditions

Let’s look at how many years interest subsidy is fixed? 5 years from the bank’s side, so similarly, we also need to look at a fixed rate loan for a 5 year period. The best unsecured home loan is currently 4.4%.
The 10 million HUF loan for 25 years has a monthly repayment of 56,000 HUF. It can be applied for 3% of the subsidized loan and costs $ 47,000 per month with similar terms.
Over 25 years:
– we pay out HUF 14.2 million in subsidized interest loans,
– if not subsidized, nearly 16.5 million.
According to the above, CSOK has the advantage of almost HUF 2.3 million ahead of 25-year average home loans, whose interest rates are likely to increase during this time and to jump higher than they are now. CSOK’s interest rates remain unchanged and no minimum increase is expected due to the offsetting of the subsidy.

Get ready for your financial management, anything can happen

We are not free from an accident, no one chooses to get sick, there are things in life that will just happen. And based on that we can only be prepared. The fact is that we cannot choose when bad things will happen to us, but it is also a fact that we can choose whether or not we can afford to face such situations.

One of the main goals of financial management is exactly this:

To have an emergency fund.

To have an emergency fund.

I often say that worse than spending more than you earn is spending everything you earn. This is because in the first situation you know you have a problem and will try to treat it. By Monday, you will only understand that you have a problem when you need extra features for the unforeseen. And it is at these times that one easily gets into a giant snowball.

Some time ago I wrote about the importance of having a financial reserve for emergency or unforeseen situations. Today I reaffirm this philosophy so that you, dear reader, understand the importance of having an emergency fund compatible with your emergency income.

Better to have a debt than to face a cashless emergency

money cash

It may seem strange, or even crazy, but that’s true. Having problems with monstrous debt can be better to deal with than going through times of trouble with nowhere to get the financial resources to handle it. By entering a famous “snowball” one can handle it more smoothly, as it all comes down to cutting spending, reorganizing finances and negotiating debt.

But when the problem is an emergency we have to deal not only with the “lack of money” problem but also with emotional problems. Can you imagine how a father or mother feels who needs to spend (without) money on medicine and doctors for a child’s illness? Or even crash the ether car that shell out a significant amount, negotiate with those involved and assess the impacts this will have on your financial life?

Having to solve financial problems is bad, now when money comes with emotional problems the result is like throwing nitroglycerin on the feet (boom!).

What to do to get out of this possible situation?

money cash

Perhaps the best option under these circumstances is: prevent. Begin to organize and plan your finances to generate your security reserve, or as some call it: sock.

It may sound cliché, but it all boils down to:

REORGANIZE your financial information to find out how much you are earning, spending and if you are left over, missing or whether the game is tied.

STRUCTURE an action plan that provides the result you want to achieve. If your goal is to create a reserve, the first step is to stop spending. At these times it is painful to stop drinking the famous beer every Friday, but your peace in the future will thank you.

And lastly, GOOD INVESTMENTS . If you want to set up an emergency fund, it is no use looking for a high return investment because the risk is high too and what you need is security. Specifically in the case of making a reservation, give preference to highly liquid investment products such as savings so you can immediately dispose of the money when you need it.

 

Credit Card Account Cut Date Change How?

We will be sharing information about changing the credit card account cut date , how the account cut date changes, how the account cut date is determined, how there is a link between the account cut date and the last payment date. Turkey has 25 million active credit card used. According to recent research, there is information available that 1 in 5 people use a credit card. When this happens, these credit card users may have some usage-related problems. One of them could be changing the account cut date . We may need to change this date because our credit card account cut-off date may contradict our planned payments. So how to change the account cut date? Information about changing credit card account cut date.

 

What is the Account Cut Date?

What is the Account Cut Date?

Account cut-off date is considered as the date when credit card usage is determined. As the credit card users will know, the bank will provide you with a statement after the use, and this statement will include your periodical usage and expenses. The date on which the payment date of these expenditures is determined is determined by the account cut date. The statement period is the corresponding period between the two account cut dates. Your spending from one account cut-out date to the other cut-out date indicates that the credit card must be paid by the due date .

You may have difficulty in making payments if the credit card account cut-off date and due date is a period that is contrary to your scheduled dates. On the other hand, since credit card payment delays will be considered as one of the most important factors that directly affect your credit rating, changing the account cut-off date can be seen as one of your natural rights and these transactions are quite simple. Every bank can change your account cut-off date in a short time because it gives importance to user satisfaction. However, this process may be reflected on your statement late due to dates .

 

Account Cut Date Change How To …

credit due date

As we mentioned in the first part of the article, changing the account cut date is a very easy process. If your account cut-off date and deadline date do not match and you have cash problems between these periods, you can change the account cut-off date of your credit card very easily and ensure that transactions are made. There are many options for changing the account cut-off date, and we’ve listed them for you below.

  • Change to Branch
    You can go to the bank branch where you worked and tell them you want to change your account cut date. You can directly tell the customer representative which date you want your account cut date to be and ensure that the transaction is performed. However, this is one of the most preferred methods because it is very likely that the transactions will take longer because they will request petitions and documents for the transactions you will go to the bank branches.
  • Exchange with Mobile and Internet Banking
    If you’re using mobile or internet banking, this is the fastest way to change account cut dates. During this period, when the banks developed themselves digitally, you can update your account cut date in a very short way by entering the credit card menu in internet banking. This is the shortest and easiest way to change account cut dates.
  • Changing Customer Service by Calling
    Another method would be to call your bank’s customer service. Since there are still customers who do not use internet banking today, you can make transactions by calling customer service instead of going to branches. Considering that they do not use internet banking on credit cards used by retirees, making a change by calling customer service can be described as an easy method.

 

How should the account cut date be set?

How should the account cut date be set?

Since the account cut-off date is one of the factors determining the payment date, it is one of the dates that should be considered. If you are applying for a new credit card , you must make your payment plan and choose the most appropriate cut-off date before you choose your cut-off date. If you set the cut-off date and the due date without planning, you may have difficulty with future payments and cause your credit rating to fall. You should also keep in mind that credit cards have serious determinants in their credit ratings .

 

Credit Card Without Income Certificate

Credit Card Without Income Certificate

Since banks set their account cut dates so that they can be selected by users, they will ask you the preferred date range during your credit card application . If you apply online, you can also select the range of account cutoff dates from the corresponding menus. If you have set the account cut-off date at the time of application, but you later find it unsuitable, you can change your account cut-out date by taking the options outlined above.

 

How to make a Cash Flow to keep your finances in order

Just as companies can plan their finances, people must also do so with the aim of avoiding risks and surprises. The personal cash flow is an indispensable tool to manage your money, that money you generate as income in a given period, for your income, your salary, your business, etc. The question is what is it for? It becomes vitally important in our day to day, because the analysis of cash flow allows us to detect problems in time and also when projected on a time horizon allows us to determine the future income and expenses experienced by a person.

Such as planning Financial in a company

Such as planning Financial in a company

Lack of liquidity is also one of the problems that we can identify, because with the flow you can realize if you will have enough cash to cover your expenses.
In this case, making a personal cash flow will help you know how much money you have and in which assets you have them distributed; a savings account or other investment instruments. In the same way it helps you to detect surpluses, which can become an opportunity to grow that money. In more technical terms, it serves to analyze the viability of projects to increase your capital.
Revenue refers to all the money you generate daily, weekly, biweekly or monthly. Expenditures or expenses are all the money that is required for you to operate, which include your vital needs such as clothing, eating, household expenses, transportation, credit payments, insurance, etc.

How to make it?

money cash

Remember that taking advantage of Excel, you can add or remove the rows that are needed (both in the “Inputs” section and in the “Outputs” section of cash) and that way you can customize this tool. In addition, the total and total sub cells are automatic.
In the ranks you will place the income and expenses according to your needs and reality. At the departures, the amount you must place to save is considered (minimum 10% of gross salary).

What are the possible scenarios?

money cash

If your income is less than your expenses, you are in trouble because you live on a loan to cover some needs. If your finances are balanced, any unforeseen event can take you out of balance. If your income is greater than your expenses: you have the opportunity to save, as well as face unforeseen events and achieve your goals.

This should be the scenario to which we should all aspire.
According to your results you will have to adjust your balance and make a savings plan so that you can be in the ideal scenario.
To improve a cash flow in the business field it is necessary to reduce costs, in the case of a person it is about spending less than what you perceive. For this it is necessary that you have exact calculations, it is also important that you reduce expenses. In this case you can verify which of your expenses are not vital to eliminate them and start making a flow of daily expenses (write down everything you spend, from the purchase of a candy to that of pants).
The implementation of this practice, gives the person the ability to analyze the possibilities of obtaining excess liquidity, thinking about the issue of savings, if such surpluses are obtained, the most prudent thing is to think of an investment alternative that allows make trade to leftover resources.
This practice can also help us to measure the degree of indebtedness and its impact on cash flow, and in this way the person can define their real financial situation and design a contingency plan if necessary.
You have the opportunity to start today to make your projected cash flow.

REMEMBER
Your budget should answer the questions: what and how much will I spend? While the cash flow analysis should answer: when will I spend it?

Loans for public and state employees

When it comes to loans to public and state employees , the formula for the assignment of the fifth is certainly one of the options to be assessed in the case of seeking an unsubstantiated and simple management loan.

Among the recipients of the loan offer against LifeWise Loan, in fact, we can include them: state, parastatal and local government workers . This type of loan is designed to offer to those who work in the public employment an agile loan, able to give the right support to realize small and big personal or family dreams.

 

The 3 advantages of the LifeWise Loan

The 3 advantages of the LifeWise Loan

For those unfamiliar with the LifeWise Loan , here are some useful information that underline the advantages of this type of consumer credit .

  1. No motivation – Among the distinguishing features of this type of loans are discretion and flexibility: there is no need to subscribe to any constrained reasons for the use of the sums paid, nor restrictions on employment.
  2. The loan of which you can forget installments and deadlines – The ease of management of the assignment of the fifth concerns the fact that the repayment installment is held directly by the paycheck. There is no need to remember deadlines and there is no anxiety of late payments.
  3. The loan that does not fall on the heirs – In the event of insolvency, the loan is extinguished by the insurance policy and does not weigh on the heirs.

 

How the loan works

How the loan works

As for private employees and retirees, public and state employees, following the preliminary investigation carried out by the granting body, can access the LifeWise Loan giving the rights of up to one fifth of salary.

To learn more about the other features of this loan dedicated mainly to public and state employees, here are the answers to the most frequently asked questions

 

How long does the LifeWise Loan last?

How long does the LifeWise Loan last?

The repayment can be extended until 120 months, provided that the extinction takes place within the 75th year of the applicant.

To obtain the LifeWise Loan, public and state employees must underwrite mandatory insurance against life risk and the risk of losing their jobs.

 

Can the Fifth be renewed?

Can the Fifth be renewed?

The Assignment of the Fifth can be renewed after the 2/5 of the installments have been paid by early repayment of the previous loan and by recovering the interest not accrued. The status of “bad payer” does not compromise the granting of funding.

The LifeWise Loan: the ideal loan for public and state employees

State and public employees will undoubtedly find the LifeWise Loan the unrestricted ideal loan to get the right push to achieve all those dreams and projects that can not remain in the drawer.

To find out more about this loan, ask the Lifewin Bank operators or go to one of our branches .