Once you decide to take out a car lease, you have to keep paying the monthly payments; otherwise, you will lose the trust of your dealer and your vehicle will get taken away from you. Add to that the possible penalties you might face for not holding up your end of the deal. Therefore, before you decide that you will get a car lease, you need to prepare yourself financially. These are the tips to help you afford your regular payments. Finish other loans first If you’re still paying other major loans apart from a mortgage, you might have to finish them first. It will be easier for you to deal with the regular car lease payments if you have already paid off the other loans. Besides, you might get confused when you have to deal with several monthly payments at once. You won’t have enough … [Read more...] about Ways to Afford a Monthly Car Lease Payment
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Applying for Long Term Loans: A Complete Guide
A long term loan as its name suggests is a loan which is taken out over a long period of time, usually a number of years. Secured vs Unsecured Loans Loans come in two forms, secured and unsecured. A secured loan is a loan which is secured against the value of an asset like a car or a house and an unsecured loan is not. If you default with payments on a secured loan, your asset is at risk of repossession. Lenders will quote their interest rate as an APR and secured loans tend to have lower APR’s and allow for larger sums to be borrowed. When you apply for a long term loan, the lender will want to be assured that you can make the payments. Minimally, a credit search will be performed which will show up as a footprint on your credit file, too many footprints can adversely affect … [Read more...] about Applying for Long Term Loans: A Complete Guide