Student Loans for Bad Credit

Sabtu, 10 Oktober 2009

Alternative student loans bad credit are still available. In some countries, especially in the UK student are almost expected to run up big debts whilst completing their degree courses. Many students leave university at the start of their working life loaded with debt.

Much of the world is going through a financial crisis. Banks, for perhaps the first time ever, are refusing applications for credit from those who do not have perfect credit histories. It has never been harder to secure credit from the banks and that is a fact.

So what chance has a cash strapped student loaded with debt got of being approved for credit? Well in some cases students are treated as special cases. Some lenders realise that students have had to run up debts simply to complete their courses. In the UK government students loans are only repayable if the student has a job at a predetermined salary level. It is a fact that many students will never repay any of the government student loan. Lenders realise this and although the student may owe thousands from a government loan, many lenders will be happy to approve a credit application when the student starts his working life.

For students with more sever debt most of the banks will not offer credit. There is though almost a new industry of new lenders who will offer credit to those with a poor credit score. You will pay more in interest from these lenders so it is best to shop around.

Ensure though that you can afford to make regular repayments because if you default on a credit card from a “bad credit” lender you could damage your chances of securing future credit long term.

Car Finance - How to Buy a Motorcycle Without Paying For It!

Selasa, 22 September 2009

Car Finance. Wanna proof of possibility to buy a motor vehicle without paying for it? Take a look at what Henry did! (Although this is a South African example in ZAR currency, the principle is applicable anywhere in the world.)

Henry is just an average salaried employee ...

Henry wanted to buy a new motor vehicle for 320,000. His old vehicle had a trade-in value of 125,000. He was looking for finance for an amount of 195,000, and was offered finance by a financial institution with a monthly installment of 4,873.74 per month over 54 months. He then created a budget for this amount in his monthly budget.

However, Henry heard from a friend that there is a product available on the market that shows you how to finance your own capital purchases through a technique called Hydraulic Debt Cancellation if you are a property owner with equity.

Henry decided to investigate in spite of his apprehensiveness ...

Henry decided to put it to the test and amazingly discovered that he was able to pay for his vehicle in 36 months in stead of 54. He will be repaying the mortgage on his home in 9 years and 5 months in stead of the 15 years repayment period that was still outstanding. In the process he will be saving 239,099 in interest (compared to his original mortgage) while the amount he borrowed to finance his vehicle only amounted to 201,000 (including mortgage costs).

He achieves all this without paying a single dime more than he would have, had he accepted the auto finance offered by the financial institution above!