Rework your Auto Loan: Choose Refinancing to boost your Credit Score

Once you have obtained your car loan, it can be tempting not to look back. Before you make a decision, there are more than one benefits of refinancing your auto loan. Basically, during the process of refinancing you pay off your current loan by taking a new auto loan. Usually, you can avail a better interest rate or even consider a reduction in the term. However, the most impactful advantage of refinancing is improving your credit score. Understanding the use of refinancing to impact your credit score will help you to build a strong financial foundation.

Refinancing your Auto Loan: A Strategy to Improve Your Credit Score

Rework your auto loan to boost your credit score. The following steps will put you in a great position to negotiate a refinancing deal:

1. Check & Re-Check Your Credit Report

Request your free credit report before you refinance your auto loan. Check for any inaccuracies that can affect your ability to begin the refinancing process. Any payments that may not have been reflected can be corrected before you apply. You can dispute any errors that have occurred and get them corrected by the credit bureaus. Checking your credit score can therefore, help you to remove any faulty entries that you did not notice before. It can improve your credit score and give you a fair chance of getting better interest rates.

2. Research Different Auto Loans

Shop around before you finalize your auto loan deal. There are numerous types of auto loans available in the market that can be tailored according to your needs. Bad credit auto loans are useful for people suffering from bad credit history. Similarly, a pre-approved auto loan will help you to have a smooth car purchasing process. Compare the different auto loan quotes of lenders. Check interest rates and take help of online auto loan portals before you make a decision.

3. Limit Your Applications

Planning ahead of the refinancing process can help you to minimize the effect of hard inquiries. Rate shopping is a process when you apply for different auto loans. However, if you conduct all your inquiries within a short period of 45 days, they will be considered as one inquiry. The combined single entry of rate shopping will not impact your credit score and you will be able to receive the best interest rates for your car. So, plan the entire process in advance.

Refinance for Good: Enjoy a Stress-Free Auto Loan Term

If you have been making regular auto loan payments, it can be strenuous and unnecessary to think about refinancing the loan. However, the advantages of auto loan refinancing can put you in a better position and get you a cheaper loan. You can save money and invest in other opportunities. So, keep in mind the important steps before you refinance your auto loan to give your credit score a good boost.

Moving Forward: Corrective Steps to obtain an Auto Loan after Rejection

You go through the process of filling in the paperwork and requesting an auto loan. However, the bank stops you in your tracks and you are headed home with auto loan rejection. Believe it or not, sometimes being turned down for an auto loan can be a good thing. Through rejection, you get the opportunity to analyze your mistakes and fix them at the earliest. There are many ways which can lead you to auto loan approval. The key lies in seeking the important sources and leveraging them.

Effective Remedies to tackle Auto Loan Rejection

Closely examine the below-mentioned suggestions so that the next time you apply for a loan, you enjoy faster approval.

1. Immediate Steps after Auto Loan Rejection

The most important thing to do after getting rejected is to look for the reason. You might receive a letter from the bank or the lender stating the reason for auto loan rejection and why you didn’t make the cut. Once you know the reason for rejection, you can work at fixing the situation before re-applying. Check your recent credit report and correct the mistakes, if any. Also, pay off all your past debts before you look to obtain a new one. However, the most important thing to do after getting rejected is to not lose hope as you can work on your situation, put a strong case forward, re-apply and get approved for an auto loan.

2. Short-Term Steps to improve your Credit Score

There are quite a few ways to increase your creditworthiness in the eyes of the lender. You can apply for your next auto loan with the help of a strong cosigner who will make things easier for you. A huge down payment also lowers the risk and reduces the loan-to-value ratio for the lenders. If you are a student, you can borrow money from your parents and make the down payment. Another source of obtaining an auto loan is an online portal. Several online auto financing companies are available at fingertips.

3. Long-Term Steps to ensure a Stable Financial Situation

Looking forward towards long-term goals is the ultimate key to building a strong financial foundation. Focus on building your credit by making timely payments and clearing off old debt. Additionally, you can ask your lender or bank to generate automatic payment system on your auto loan. It will ensure that you do not have to remember your dates of payment, but only maintain the required balance in your account. Once you start improving your credit score, you can request your creditors to remove any negative information from your credit report. Also, you can work on increasing your current income sources and amount, respectively.

Look Ahead to Better Financial Situation

Despite the rejection of your auto loan request, the days of redeeming your financing situation are surely ahead. By keeping in mind a few important steps for the improvement of your current situation, you can walk into the dealership and choose your favorite car.

Simplifying the Financing Process of buying a Used Car

According to a report by the National Automobile Dealers Association (NADA), 2019 is going to be a good year for new cars as well as used cars. Car buyers will shop for 16.8 million new cars and trucks this year, but it doesn’t mean you should seek a new car only. According to Patrick Manzi, senior economist with NADA, there is a widening gap in monthly payments between used cars and new cars. And, it is one of the primary reasons why young, college students and value-focused car buyers will opt for used cars.

Used Car Financing Tips: Simplified Answers for Clear Understanding

If you are planning to buy a used car, your mind may be muddled with several questions: How to buy a used car with bad credit? How does used car financing work? What should be the loan term? Is it possible for a no credit car buyer to get a used car loan? How to get the lowest rates?

When your goal is to get the best deal on a used car loan, you need to focus on two things:

A. The Interest Rates on Used Car Loans

A used car loan should not give you nightmares. So, focus on getting low-interest rates. Many car buyers spend time in finding low monthly payments. But it doesn’t matter in the big picture. You can save money only when the interest rates are low. Period.

1. What is the Current Interest Rate on Used Car Loans?

If you take a look at the existing interest rates for an excellent credit buyer, a 60-month used car loan will come with an APR of 3.74%. However, when you have a bad credit score or a zero credit history, the interest rate will fluctuate depending on the severity of your credit score and current financial situation. According to a report on The Simple Dollar, if your credit score is between 500 and 589, the interest rate will 15.24% and monthly payments will be around $478 for a $20,000 auto loan with a term of 60 months.

2. Where to shop for Bad Credit Used Car Loans?

If you have bad credit, stop worrying. Credit reporting agencies know the importance of rate shopping in your car buying journey. If you apply with many banks, credit unions and online auto financing companies within 45 days of your first application, all the inquiries will be considered as one. So, apply with many lenders and choose one that offers numerous benefits: low interest rates, zero application fee, minimal processing charges, zero pre-payment penalty, manageable loan term, zero down payment facility, etc.

Compare different loan quotes. If lenders are offering 10% APR or more on used car loans, make a down payment to lower the cost of the auto loan. Also, bring a cosigner to improve the credibility of your loan application.

B. Your Budget for purchasing a Used Car

According to Experian’s Q2 2018 State of the Automotive Finance Market report, used car loan payment amounts to $378 every month. The average auto loan payment for a new car during the same term was $525. Buying a used car is a better decision. But, to make it a financially sound decision, pay attention to numbers other than monthly payments.

1. Consider buying a certified pre-owned car from a reputed dealer. Even though it will be costlier than buying from a friend, you will be assured of the quality.

2. Save money on the insurance by only buying the insurance coverage that you need.

3. Calculate car registration fees by visiting the local DMV website of your state. It will give you a clear idea of the taxes and fees.

4. Calculate the average fuel and maintenance expenditure.

5. Find ways to add to the down payment amount.

Ascertain the total monthly cost of owning a vehicle via online calculators and compare the number with monthly payments and your income. If the numbers tell you to go for a used car, only then say yes. Remember that thorough understanding of the loan is essential to avoid any surprises later.

Buying a Used Car is a Smart Decision!

An average American buys more than 10 cars in his lifetime. And, if you are going to spend 30,000 (plus interest) on every car that you purchase, imagine the total expenditure. By choosing a slightly pre-owned car, you will be able to fulfill your dream of buying a car at affordable prices. Also, by following a few smart tips, you will be able to nab the best financing deal.

Independent Computer Consultant – Provide High Level Managed Services Using Dirt Cheap Applications

To compete in the field of providing IT Support to small businesses, today’s Independent Computer Consultant has to move away from the old, reactive model of charging hourly rates for on-site support and move onto the more efficient and profitable model of Managed Services, charging flat-rates for a suite of services, which include round-the-clock system monitoring and remote support.

Fortunately, there are many current utilities available that can allow an Independent Computer Consultant to provide these services at the highest level, for literally pennies a day… or even completely FREE!

The following applications are the ones I use personally and generally recommend. A simple web search will allow you to evaluate these products against competing packages to determine what will work best for your individual needs and budget.

For Network Server Monitoring and Inventory Collection and Reporting – GFI MAX Remote Management

This web-based utility allows you to keep tabs on your client’s servers and all workstations around the clock. Costing (at the time of this writing) only $12.95 per month per server and an additional $0.10 per workstation, this application will provide a web-based dashboard that lets you and your client see at a glance the current health status of all major components of the network such as:

- Backup Status
- Anti-Virus Update Status and Activity
- Drive Space Change
- Critical Events
- Disk Health
- Available Disk Space
- Hacker Monitoring
- WSUS Patch Monitoring
- Windows Service Monitoring
- Server Performance Monitoring
- Website Availability
- Bandwidth Usage
- TCP Port Monitoring
- PING Checks
- SNMP (Including RAID Array)
- File Size Monitoring
- Roll Your Own Event Log Check
- Roll Your Own Script Check

If an error occurs, the application can instantly and automatically notify you via an email or SMS alert. You also can generate weekly, automated health status reports that can be sent automatically via email to you and your clients.

For Remote Computer Support – LogMeIn Free

LogMeIn is both PC and Mac compatible and can be installed on each of your client’s computers in about 2 minutes. Once installed, you can gain instant remote access to any of these computers from any Internet connected computer.

The LogMeIn Free product is completely suitable for providing all of your users with instant support, just as if you were sitting in front of their computer, but it does have its limitations. For additional features such as remote file transfer, remote-to-local printing or allowing multiple accounts to access the same computer (if you want to grant the user the ability to connect to their computer using their own account), then you’ll need to step up to one of LogMeIn’s paid products. These are also very affordable and all information can be found on their website.

Use applications like these and you’ll be able to provide your clients with an unparalleled level of service, increase their system’s performance, reduce or eliminate unexpected system problems, increase your response time and turn your clients into your greatest fans.

Considering the cost to you can be next to nothing, investing in applications like these would be the wisest investment you could make in your computer consulting business.

Of course, there are additional applications that you will need to maximize your productivity and profitability, such as a ticketing system with a client accessible portal and service reporting. These and many more subjects are covered in depth at the following website…