Category Archives: Auto Loans
A Novated Car Lease
Lots of banks and financing companies can offer a novated car lease. There are several ways to finance your car and a novated car lease may a great option for you to consider. A novated car lease is similar to a car lease and involves regular payments like a car loan against the finance and can be on a new or used car. What makes novated car lease different is that the repayments are paid by your employer and they then deduct this amount from your gross wage. The agreement for a novated car lease includes a form for your employer and yourself, to form this arrangement.
Why would an employer arrange a novated Car Lease? Employers may want to offer employees incentives that will motivate them to work better and stay committed to the company or organisation. A novated car lease is a great incentive for employees. The financial responsibilities and ownership of the car remains with with the employee and if you leave your job the responsibility of the lease is left to you the employee .
There are several advantages of a novated car lease and these include being able to pay for the car with your gross wages . In case you choose to terminate the lease or employment you could still continue to repay the loan for the car and own it.
Things to consider when taking a novated car lease
Once you have selected the car you wish to lease you may have to negotiate the price and monthly payments for it. Thereafter you need to decide on the amount of fixed payment and the term of the lease. The term of the lease can be between 12 months to about five years.You may have the option of paying the residual amount at the end of the term and buy ownership of the car. The novated car lease is a unique way for employees to pay for a car, initially with small fixed payments, and thereafter with a lump sum payment. This kind of lease is agreed upon between the employer, the employee and the financing company.
Fully Maintained Car Lease
It is crucial that you are able to meet the fixed payments for the car lease. You may want to opt for a fully maintained lease. This may increase the monthly payments but will assure you proper maintenance and care for the car.If the car is predominately for business use it may be tax deductible.
A car lease is valuable for personal as well as for commercial use. The hire purchase contract is a unique way to slowly buy equity into the car until the end of the lease when with a final payment the car can be purchased.
Now is a Good Time To Shop Around and Compare Secured Loans.
There are many lenders in the United Kingdom who are ready to make Low Cost homeowner loans that can be used for a variety of purposes.
It used to be a long and tedious process to shop around and find good offers on Secured Loans. You often had to spend a lot of valuable time going to the offices of various lenders and sitting down with a loan officer in order to find out what the interest rates would be and what the repayment terms were. Then you had to fill out a lengthy application and wait days to find out if you had been approved. After that there was also a long wait before the loan would close and you would actually get your money. Even if you had good equity in your home the right homeowner loans could be difficult to find.
Thankfully, in todays market that is no longer the case. There are many lenders who have a lot of money to lend and are anxious to work with you to give you a loan. They are engaged in intense competition to make loans so they have made the entire process much easier than it used to be. You can find what you are looking for by using the Internet and visiting the various websites of the lenders who are offering secured loans. This can include searching for home improvement loans, debt consolidation loans, or personal loans.
At these websites you can read about the companies and what they have to offer. You can quickly find out about the Loan Interest Rates they are offering and use the handy Loan Calculators many of them provide to figure out what your monthly payments will be and how much interest you will be charged over the life of the loan. You can also find out what the repayment terms are and what other charges there might be for taking out homeowner loans.
If you have equity in your home to offer as collateral the lenders are much more anxious to work with you. They much prefer Secured Loans because they know that with the right collateral they are guaranteed repayment even if you run into unexpected financial problems and default on your payments. Once you have used the Loan Calculators and found the right loans with Low Interest Rates and the right terms it is easier than ever to apply for homeowner loans.
You can submit an application right online or by making a telephone call. You can find out usually within a few hours if you have been approved. This allows you to make several applications at once to different lenders and you may even be able to get them to compete for your business by offering you even better rates or terms. Once you find one of the secured loans you like you and are approved you will find that the loan will close quickly and you will have the money you need.
You can also get professional help with your search for personal loans or other homeowner loans because there are websites where experts will do most of the hard work for you. They will provide you with quick loan comparisons and Loan Calculators that allow you to quickly compare offers. They will also assist you with the application process.