Business and Personal Travel Considered

Many cities throughout the United States are known for their tourism, and after the global economic recession things got a little tough in many of these regions of our country. For those in Orlando, Nashville, Los Angeles, Hawaii, Las Vegas, and many other tourist destination points they watch the tourism and hospitality industry that jobs and fall into the economics abyss.

Luckily, things are changing again. People are traveling for both business and personal reasons, and airlines are showing that their airplanes are 90% full or more. Part of the reason is they had taken out capacity out of the industry, parked more old planes in the desert, and cut routes. There will be expansion in the airline industry in the next few years, even if we double dip recession. You see, the airline, hotel, tourism, Rent-A-Car, resort, theme park, and hospitality industry was down so far, that there is only one way to go now and that is up.

Not long ago, I was discussing this with an acquaintance, and they mentioned that they were going out to one of the desert cities in California for a retreat calling it the; mind, body, and spirit rejuvenation – rebalancing program. Interestingly enough, I have a little bit of knowledge about that area, having traveled through it, and they do say that is a perfect city for a retreat.

Who says that? The “travel economic development marketers” of course, ha ha ha, and really, I guess the gulf beaches are out of the question now this year, as hurricane season is starting, and it is expected to be quite wicked, along with the BP Gulf Coast oil spill. What a bummer, such nice beaches too. Well, I guess if you are all into that new-wave spiritualism stuff may as well head out to California, and see if that works for you.

My idea of mind, body, spirit rejuvenation – sure, I’d say that my idea of spirit rejuvenation is riding my bicycle 1000 + miles. Because nothing can make you feel more alive than battling the elements, and pushing yourself to sheer exhaustion, forcing yourself to go beyond your ability and beating the odds. Sure you will be sore as hell, tired beyond belief, but you will have persevered and enjoyed your life experience to its fullest. Besides, what was Vince Lombardi’s famous statement?

Sometimes when you travel for a retreat or for personal business, in a way you are resetting your mind so you can do more in your business, profession, or career. Please consider all this.

Car Loan – An Easy Access To Finance For Owning Dream Car

Owning a car of your dream is a reality these days. This is thanks mainly to car loan that is made available to each and every aspirant wishing to have a car of his own. The lenders have kept terms-conditions of car loans attractive for winning as many customers as possible in a tough car loan market, making the loan even easier to access. As per your requirements and as suits to your pocket, car loan is there for asking to buy either a new car or a used one. But before making a deal, it would be wise to have a close look of what is happening in car loan markets and what are basic aspects that one must be aware of in taking car loan.

One of the attractive feature of every car loan is that you do not have to look for a collateral is secured car loan is your option. it may be more beneficial if you can place any of your valuable assets like home as collateral with the lender. But if you do not like to risk home for the fear of its repossession, then the very car you intend to buy can easily secure the loan. all you have to do is to hand over the deal papers of the car to the lender who will return them after you have paid back the loan completely. In the meantime you can continue driving your car. But in case of payment default, you would be losing car to the lender.

Secured car loan have this advantage of lower interest rates and if your home secures the loan, the rate of interest goes down. The loan amount depends on equity in collateral like home or the price of the car. While you drive the car, the burden of the loan is lesser as the car loan can be repaid in 5 to 30 years. Larger repayment duration means you can reduced monthly payment towards installments.

Tenants or non-homeowners however can opt for unsecured car loan. Unsecured car loan comes without the clause of collateral, making the loan a completely risk free affair for the car owner. As there are risks for the lender, unsecured car loan come at higher interest rate making it costlier for the borrower. Unsecured car loan is solely offered on the basis of financial standing of tenants or non-homeowner. Income and employment documents are required from the borrower for ensuring safe return of the loan. you will be approved smaller amount for a shorter repayment duration as unsecured car loan.

Do not worry about bad credit. In case of secured car loan, as lenders have the borrower’s property as security, bad credit does not matters much to the lenders. For unsecured car loan however income and employment documents are must for showing to the lender. But bad credit borrowers will be approved the car loan at higher interest rate. At the same time one should note that if car loan installments are regularly cleared, the borrower’s credit score goes higher and loan availing in future becomes easier.

Buy a car from a reliable car dealer and check it for mechanical defects and quality. Compare different car loan providers who have showcased car loan interest rates and terms-conditions on websites. Apply to the suitable lender online for a fast processing and approval of car loan. Make sure to pay off loan installments in time for escaping debts.

How to Qualify for Car Loans After Bankruptcy?

Chapter 7 or Chapter 13- Every bankruptcy is a very challenging situation. It causes embarrassment and financial troubles but it doesn’t mean that you cannot buy a car. Many people think that they will never get auto loans as bankruptcy ruins credit scores. Thankfully, this is not true. Post bankruptcy auto loans are a boon for borrowers who have just come out of bankruptcy.

A bankruptcy stays on your credit report for ten years and so, it has such a huge impact on car loan approval chances. It is for this reason that you must work strategically in order to get a car loan. The key is to reduce the lender’s risk. If you are successful in lowering the lender’s risk, he will easily offer you an after bankruptcy auto loan.

How to Get Car Loans after Bankruptcy?

Patience is the Key

You filed for bankruptcy because you were unable to pay-off your debts. You certainly don’t want to get a car loan with unbearable monthly payments. So, you must have patience in getting an after bankruptcy car loan.

There are many lenders who offer auto loans to people in bankruptcy. But, they often charge high interest rates. So, it is best to opt for car loans after coming out of bankruptcy. Once you have discharged bankruptcy, you get the opportunity of availing car financing at reasonable rates. You can lower your rates by waiting for two to three months. During this time, you must concentrate on increasing your credit score.

Employment and Income is Important

When the lender is ready to overlook your bankruptcy and bad credit score, he is taking a risk. If he considers your car loan application very risky, he will not offer lower interest rates. But, there is a way of reducing his risk.

If you have a stable job and regular source of income, the lender will be assured of regular monthly payments. This will help you secure a post bankruptcy auto loan without much difficulty.

Lenders also consider your income as an important factor for approving your post bankruptcy auto loans. If you are able to pay your expenses and still save, you will be able to make easy monthly car loan payments. So, lenders ask for sufficient income and a decent debt to income ratio.

Search for Lenders That Offer Car Loans After Bankruptcy

Traditional lenders and banks shy away from borrowers with post bankruptcy because they are considered a huge risk. There is no point in applying with those lenders who are going to reject your car loan application.

So, research and then choose your lenders. Apply with those lenders who are experienced in offering after bankruptcy auto loans. You can even go for online auto lenders. There are many online auto financing companies that offer affordable auto loans. They even offer auto loans after bankruptcy because they have a wide network of lenders and dealers.

Inexpensive Car

When you have a just come out of bankruptcy, you mustn’t buy a new car. A new automobile is costly and will increase your car loan amount. Instead, choose a reliable used car. Don’t forget to get it checked by your local mechanic.

Put Money Down

When you make a substantial down payment, you reduce the car loan amount and the lender’s risk. This prompts the lender to offer you lower interest rates and instant approval. So, start saving money for down payment. Usually, 10% -20% of the total cost of the car is enough. But, there is no harm in going for a higher amount.

Co-Signer Can Help You

Getting someone with a good credit score to co-sign your car loan contract reduces the lender’s risk to a considerable extent. Find someone who is ready to co-sign your after bankruptcy auto loan. A co-signer can be anyone from your parents, friends, or relatives.

All these points will definitely improve your chances of getting approval on auto loans after bankruptcy. These points will help in reducing the lender’s risk which means you will get reasonable interest rates.

A post bankruptcy car loan is a perfect way of buying a car. It will also assist you in building your credit score after bankruptcy. So, it is important that you take a well-thought decision.

All the best for an after bankruptcy auto loan!