– brought to you by Cash For Cars

Count all your pennies and make even more pennies

There is no better time to get your personal finances in order than right now. This article is filled with useful tips to help you manage your finances more wisely. There is no need for costly training or lengthy study in order to realize significant savings. Everything you learn can help you in a positive way.

An easy way to keep your finances on track is to have a written budget. At the start of each month, make a budget that includes a list of each anticipated monthly expense. Don’t forget about any of your daily living costs, no matter how trivial they may seem. This includes everything from rent and groceries to utility bills and fuel for your car. Be sure to note all expected expenditures. Fill in what needs to be paid, but don’t overspend what you earn.

Simple Personal Finance Tips

Make a plan of what you hope to achieve financially in the future, so that you have some goals to aim for. The use of a plan will provide motivation, as well a logical reason to put money in certain places, rather than following your impulses at random times.

Ensure that you’re paying your monthly utility bills and rent on time. Paying them late could ruin your credit rating. In addition, you could incur a late fee, which would cost you more of your hard-earned cash. Paying your bills in a timely manner will help you gain control over your finances.

Frequent flier programs are advantageous to anyone who travels by air often. A number of credit card companies provide bonus points that you can use to get low cost or free air fare. You may also be able to redeem your miles at certain hotels to get a discount, or even a free room.

Do not waste your money on products or services that promise instant gratification and miraculous results. Internet marketing, for example, is a field that makes it all too easy to waste more money than one makes back. The majority of your money should be spent making more money, not on learning how to make more money.

Choose a broker that you can trust and are comfortable with. They should be honest and upfront with you, and you should check that they have glowing references. You will only be respected as much as you prove you should be.

One strategy for staying on budget is to use more than one checking account. One account can be used to pay your fixed expenses, while the other can be used to pay for variable expenses. This will allow you to watch what you spend your money on.

Don’t fret if your credit score decreases while work on repairing credit. This doesn’t mean you’re doing something wrong. Stay dedicated to accumulating positive information on your credit report, and your goals will eventually be within reach.

If you can set it up, have your debit card make automatic payments to your credit card near the end of every month. You won’t have to worry anymore about forgetting your payment.

Compound interest can be especially useful to younger people, as it gives them a step ahead in their financial security. Open a savings account, and put aside a little money each week.

Learning techniques to help you properly manage your personal finances is one of the best things you can do to improve your life. Check out some of these tips. You’ll really enjoy the additional funds in your bank when you use the tips correctly. After you see just how effective these tips are at improving your financial health, you will feel inspired to expand your knowledge, and learn even more about personal finance.
By: Derek Emery

If you want more advice on where to sell your car then Click here for more Cash For Cars advice

The post Personal Finance Tips appeared first on Cash for Cars Selling Tips.

Answer: you betcha, this could be one of the biggest stories nationwide

Recent media reports shed light into how lenders and consumers are reacting to the innumerable home foreclosures since late in 2006.

A Nation of Credit

For example, Automotive News reported that the average length of a new-car loan is 64 months, a considerable bump up from 2003’s 61-month loan average.

New car sellers are trying to tap into the market of consumers who are “payment driven,” meaning the monthly payment is more important to them than the overall cost of the car.

In light of the sour economy, hindered in large part by the home-financing debacle, buyers are closely watching their personal budgets.

Also interesting, information on Google indicated that American online new-vehicle shoppers dropped by 16% from March 2007 to March 2008, while during the same period 35% more people visited parts and service sites.

Lately, motorists tend to fix what they have rather than gambling on a lengthy new-car investment.

In response, marketing gurus focused on the automotive industry are presenting programs to help dealers better target online buyers.

The Financing Wave of Tomorrow

What’s interesting is why – marketers are targeting car-buyers’ behavior to increase revenues during these hard times.

Cobalt, a leading provider of marketing services to the retail automotive industry, recently announced new search campaigns for its PowerSearch customers that focus specifically on parts and service.

Cobalt wants to help dealers attract more online surfers to their sites, and in effect increase sales – even if it’s just for parts and services.

As an example, let’s examine information from the U.S. Federal Reserve about consumer credit terms, released in June 2008.

No surprise that interest rates for new car loans increased from 4.55% in late 2007 to 5.49% June 2008.

Of note is that the length of those loans – their “maturity” in months – increased from 62.9 to 63.5.

Car buyers, indeed, are not afraid to pay monthly payments longer, as long as the payments were lower.

New Car Financing in a Tough Market

Then there is how much new car buyers are willing to finance.

In the fourth quarter of 2007, new-car buyers were financing an average of $29,512. Six months later, that number was $24,505.

In fact, in 2008 the average dropped from $27,397 in April 2008 to $24,579 in May, to $24,505 in June.

Figures for July and August 2008 should be interesting. It should be noted that historically the economy stalls during a Presidential election as consumers put off large purchases until they know who will ultimately be in charge.

Perhaps January 2009 will bring sunshine to an otherwise gloomy industry, as the new Commander in Chief generates some confidence.

That might be wishful thinking. The Colorado Springs Business Journal reported in June 2008 that the subprime mortgage crisis has resulted in tighter credit standards for new-car buyers.

A dealership business manager was quoted as saying, “qualifying to buy a car is much more difficult than it was two years ago.”

With nerves rattling about home foreclosures, auto-loan defaults have caught the attention of lenders. Income and spending habits are now very important when trying to finance an auto purchase.

One bank executive noted that defaults on auto loans have increased dramatically for borrowers with credit scores below 720. To cover the risk, interest rates are raised for those without strong credit ratings.

If you are in that boat, expect to get a rate of about 15% for a $15,000, 72-month new-car loan – after kicking in a 10% to 15% down payment.

That rate was 11.9%, with just 5% down for the same loan in 2006.

The post New Car Financing Feeling the Pinch appeared first on Cash for Cars Selling Tips.