Archive for May 2014

4 Ways to Get Approved for Auto Loans When You Have Poor Credit

Having a low credit score shouldn’t keep you from driving the car of your dreams. In fact, auto loans are available to people who have a less than stellar credit scores, so don’t let your own numbers stop you. You can obtain the financing you need wanted by using these four tips.

1) Have a Large Down Payment

Financing companies and lenders are more likely to make a payment plan with you if a considerable amount of money is placed down on your advance. Try to save 10-20% of the money you need to pay off the car. You can do this by making a budget plan where you set aside a certain percentage of your income every month. The more money you can put down as a good faith payment for your financing, the better your chances are of getting an auto loan you can use to buy a great automobile.

2) Consider a Co-signer

Do you know someone who has a terrific credit score who may be willing to co-sign auto loans with you? If so, this can increase your chances of getting great financing with lower rates. A co-signer is a person who joins your loan with you, and they take on the responsibility of your payments if you fail to follow through. Often, family members or even your spouse are likely to volunteer to help you in this manner. It’s important that you choose a co-signer who has a credit rating of 700 or better in order to offset your lower score in the eyes of lenders.

3) Show Proof of Credit Responsibility

Perhaps the best way to get auto loans is to prove that you can repay borrowed money. The way you should do this is simple-begin paying off credit cards and other types of advances, starting with the ones you can pay off sooner. You want to be able to show at least six months of reliable and timely payments on everything from credit cards to medical expenses. When you apply for assistance on your car purchase, your lender will look at your credit report and will notice any delinquencies, charge offs, and late payments right away. The less debt you can show on a report, the more likely you’ll be able to get auto loans no matter your score.

4) Bank Where You Want to Get Financing

Choose a banking institution that you would like to get automobile financing from and open a simple checking or savings account that you use a few times a month. This is a great way for you to show good faith that you are able to pay a loan back. Banks and their lending offices are more likely to offer money to customers who use their services already than people who are considered strangers with no reliable history of responsible banking.

Getting a loan to buy an automobile is a great way to build credit and give you more freedom. Use these great tips to get the financing you need and buy a reliable car that you will love.

Why Hire a Professional Accountant for Your Business

Every savvy business owner knows that every dollar counts, so it’s important for you to know where you stand on a monthly basis to avoid several financial issues at the end of the year. You can use do-it-yourself accounting software when it comes to monitoring costs, but the advantages of hiring good accounting professionals extend far beyond crunching numbers. Experienced accountants can be the financial partner of your small business for life.

Running a business is no easy feat, and besides having incredible talent, determination and expertise, you should also have a keen business sense. Nevertheless, this does not necessarily imply that you have a broad accounting background. Here’s why you hire a professional accountant for the best interest of your business.

Helps You Keep on Track

Hiring a professional accountant helps you keep on track with all of your commercial expenses, payments, financial and bookkeeping tasks. Having someone to handle your finances also reduces the possibility for your business to be at financial risk by preventing errors from occurring. For any small business, bookkeeping records are extremely essential. Besides keeping record of your daily expenses, sales and purchases, it also keeps track of all other financial events associated with your company. Hiring a personal accountant allows you to have a detailed record of all financial transactions that take place, thereby helping you foresee potential financial gains as well as losses.

Resolves Confusing Tax Issues

Tax forms can be tiresome and often extremely confusing to anyone who is not familiar with its functionality. It is wise to hire professional services to ensure all of your ducks are in a row, the right paperwork gets filed, and that you never fall behind since your service providers are specifically skilled in tax matters. In addition to doing taxes for business owners, professional accountants can guide their clients and give advice on any sort of tax-related decisions or issues.

Opens Scopes for Business Growth

Working with professional accountants can offer several benefits. They may suggest similar or like-minded professionals in your area of business to work with, especially if your company is looking to expand and taking on more clients. In contrast, if you want to contract or hire your accountant for specific work, he may know or have a connection with someone who could become a valuable asset to your company through their varied clientele.

Mentors on Financial Decisions

Remember that professional accountants are experts in their field of work. They may assist you with great advice about your investment planning. They are capable of understanding your company inside and out to make the best decisions so far as your financial standings and goals are concerned. An accountant may offer useful tips on strategic planning if you are a new business owner. Thus, you can lead you to set up a successful business structure to make your company financially stable.

It’s time to have an expert to focus on your financial and accounting needs. Having an accountant ultimately helps business owners’ continue to run things smoothly without any major financial crises.