Hey everyone! As you all know, I recently switched to self-employment. It has been going very well so far, and I honestly wouldn't have it any other way. I have been able to land a few contracts for now and the future, and that is definitely great.
With insurance costs and fuel prices on the rise, it seems increasingly expensive to own a car. Yet there are still ways to cut your monthly costs, particularly when it comes to paying off a car loan. The trick is to shop around and consider all of your options before signing any financing contract. Although maintaining good credit certainly doesn't hurt your case, the following are five additional ways to save money on car financing.
Laying the Foundation for Success
Starting a business is like building a home. If you want the structure to be stable, then you need to follow a precise plan. First you lay a foundation, then you build a frame to hold the basic elements in place, and finally, you hang siding, windows, doors, and decorations—the touches that will make the house unique.
Sometimes getting the best things in life is more about big information than big money. Knowing when to shop and how to shop is more important than knowing what to shop for. The basics of smart shopping timing are well-known. You always shoot for the end-of-season clearances, you avoid gimmicky retailers, and you always comparison shop.
When we’re all a little older and wiser, our thoughts occasionally turn to the future. We might wonder what we’re going to do when we retire, what our careers have in store and how we plan to fund our golden years. Many of us, sensibly, choose to save a little money for when we’re ready to quit the world of work for good. If you are like me, then you have been ramping up your extra income so that you can beat your financial goals just a little more quickly.
Buying a used car is a tricky process if a person decides to look somewhere besides a car dealership. There is always the temptation to look at classified sections in newspapers, car auctions, and online used car listings. But one thing to consider is that those options have more issues than expected. In a private sale with the car’s previous owner, the guarantee of condition and history is questionable, and sometimes the owner will not allow a test drive. An online purchase for something of that value is too expensive or important to do remotely. Car auctions are stressful “every man for themselves” affairs.
Getting robbed is not an emergency you can foresee, but payday loan companies are there to provide cash when your creditors are busy freezing or closing accounts to mitigate more loss. It may be something as obvious as an unauthorized draft to your bank account or purchases on your credit card that get your attention. Either way, if you think you are being robbed, you have to follow a few simple steps on your way back to recover the funds that are rightfully yours.
1. Call Your Bank and Lenders
The first thing you must do is to notify any financial entities that may be at risk for theft. Your bank may want to put a freeze on your account for a few days. Your credit card company may decide to close the account so no new purchases can be made on a stolen credit card. You will also need to dispute any fraudulent purchases on the card so that you can be covered with their automatic theft protection. Call your lenders to let them know that you are having a fraud issue and are going to have to make payments for any due bills via a different method for the month – either via a new account, a money order, or in person with cash. By notifying them, they may give you more time to work out new payment methods.
2. Get Emergency Cash
Take some cash out of your bank account before your freeze it. If your funds are low, you may need to also contact a short-term credit lender to cover important payments like mortgages and car payments. Notify your employer so that they don’t direct deposit into an account you can’t access. Keep some cash handy for your expenses as you may not have access to your regular credit sources while the bank or lender investigates.
3. Safeguard Future Accounts
You may have to set up entirely new accounts with your bank or credit card company. Don’t forget to check with all three credit bureaus to see if you are also the victim of identity theft. Order your credit profile and consider putting your accounts on a third party service that watches them for you in the future. This way, even when you are too busy to pay attention, you’ll have someone else watching your accounts and they will notify you of suspicious activity the minute it happens.