Is Buying A Rent-to-own Car A Feasible Option?

A poor credit score can become a lingering nightmare and affect numerous aspects of your life. If you are credit-challenged and wish to purchase a car, getting an auto loan approval may seem like a tedious task. However, rent-to-own cars have gained significant popularity amongst those with a bad credit score. Typically, a rent-to-own car means renting and using the car from a dealership whilst paying a down payment and making weekly payments. Once you have completed the weekly payments of the car, the ownership of the rent-to-own car shifts to you, the buyer. As the dealer requires no significant credit check for the purchase of the car, many credit-challenged individuals turn to rent-to-own cars. Although they may seem like a lucrative option, the disadvantages outweigh the benefits.

What are the Downsides of a Rent-to-Own Car?

1) Expensive Purchase

When the dealer lines up used cars under rent-to-own category, he marks them higher than other cars. As no interest rates are charged on rent-to-own cars, he tries to make a profit through sale of the car. Therefore, purchasing a rent-to-own car means paying more to own a used car with a lower resale value.

2) Frequent Payment Schedule

The payment schedule associated with a rent-to-own car is more frequent as compared to a used car. The dealer requires you to make weekly payments as against the regular monthly payments on a used car. Due to frequent payments, it can become difficult to keep tracks of payments, thereby, attracting the possibility of a late payment fee.

3) No Effect on Credit Score

Regardless of your timely payments, your credit score will not improve due to a rent-to-own car. With the purchase of a regular used car, the ability to increase your credit score is a possibility. However, with the purchase of a rent-to-own car, the payments do not reflect on your credit report and will not help in improving your credit score.

4) Absence of Warranties

There are no warranties on rent-to-own cars. As you use the cars, the probability of a breakdown is higher than a regular used car. Therefore, any repairs, damages and breakdowns are your responsibility as a buyer of a rent-to-own car.

Is there an Alternative Option?

If you do not wish to buy a rent-to-own car, you can still avail a bad credit auto loan to purchase a regular used car. The advantage with purchasing a regular used car is that monthly payments can help you structure your finances and warranties can shield your car from any potential future damages. Thus, purchasing a used car can provide greater benefits in the long run.

A damaged credit score does not necessarily mean that you should opt for a rent-to-own car. The downsides of purchasing the car include expensive purchases, frequent payment schedules, little or no effect on your credit score and absence of warranties. The good news is that purchasing a regular used car with a bad credit auto loan is a suitable alternative.

Repossession Recovery: 4 Tips To Obtain An Auto Loan Despite Car Repossession

The situation of car repossession is a tricky scenario. It can occur due to several reasons. One of the core reasons for car repossession is performing a delinquency on an auto loan. Contact your lender to know the exact reason behind the car repossession. Once you understand the appropriate reasons, you have two options. One, you can pay the required repossession costs and the entire loan amount to reclaim your car. Two, you can decide to let go off the car in which case you will be liable to pay the deficiency balance to the lender.

No matter what option you choose, the situation will negatively impact your credit score and credit worthiness in the eyes of the lender. Despite the downsides of car repossession, the possibility of obtaining an auto loan still exists. The key to securing an auto loan requires rigorous preparation.

Car Repossession: A Setback but not a Total Loss

Despite car repossession, which points should you keep in mind when you set out to obtain an auto loan?

1) Repossession Rights

Every individual is entitled to certain car repossession rights. It is common knowledge that one major right involves buying the car back from the lender. The method of buying back the car involves repaying the full amount to the respective lender. Another right involves the safety of personal property left in the car while it was repossessed. Any item found in the car cannot be sold and the owner of the car has rights to retrieve them. Similarly, no personal property can be harmed while repossession. For instance, the lender cannot damage the garage to get hold of the car.

2) A Sizeable Down Payment

Even if car repossession occurred a year back, a lender may hesitate to grant the auto loan. Agreeing to pay a sizeable down payment is a great way to increase your credit worthiness. A good amount to put down is 20% or higher of the total cost of the car. When you make a hefty down payment, lenders will view you as a committed buyer and overlook the negative mark of repossession. Therefore, a sizeable down payment will not only reduce your monthly payments but also provide you with a higher probability of getting a loan approval.

3) Used Car over New Car

While suffering from car repossession, it is important to set realistic and achievable goals. Opting for a used car will prove more fruitful than choosing the newest car in the lot. As a used car is sold for a lesser price, the lender views low risk in giving out a loan of a smaller amount. An expensive car with expensive payments was the reason that got your car repossessed in the first place. Therefore, choosing a used car that matches your budget is ideal as you can make payments comfortably.

4) Prepare Required Documentation

Compiling documents can be tedious, but after recent car repossession, it is a good idea to prepare thoroughly. Usually, documents are provided to reassure the lender of your credit worthiness. For instance, your recent paystubs provide proof of financial stability. Primarily, the required documents include proof of employment, a valid driver’s license, current utility bill and federal income tax payments. Make sure the information is accurate as the dealer will cross check it. Once you present the required documents, the process of getting an auto loan will become easier.

Building a stellar credit score is not going to happen overnight. But, it doesn’t mean you have to shy away from applying for an auto loan. If you wish to drive a car again, consistent effort, adequate preparation and focus will help you to recover from the tragedy of car repossession.

Expert Testimony Is Meant To Be Given By A Financial Expert Witness

Expert testimony is a testimony made by a certified professional such a financial expert witness on a scientific, technical, or professional case. A financial expert witness is frequently called on to give expert testimony because it his or her profession and thus is expected to have expert knowledge in this field. In order for the expert testimony to be accepted, it must be related to the specialized knowledge and must aid the Trier of fact. The opinion of the financial expert witness must be adequately approved both by sound reason and method. The facts of the case must also be seen as relevant. The analysis of reliability is meant to be flexible and concerned more with the concepts and methods the financial witness expert uses and how he or she comes up with his or her conclusions.
Most at times, a financial expert witness is called in for the main court case itself when either the prosecuting or defending attorney has a general feel of the case at hand but would like to present the evidence so that it is absolutely clear. Similarly, a financial expert witness can be called in to given an expert testimony when the lawyer in charge of any side of the case lacks back ground knowledge in the particular subject and does not want to be made jest of in front of the judge and jury. So in order for it to look like he has knowledge on the subject being discussed, the attorney may choose to hire someone that is well enlightened on the particular subject matter being discussed.
A financial expert’s witness services can of cause be a lot more than just providing expert testimony in court. He or she can also help test theories during the exploratory phase and also help to assist in the investigations that are beyond the resources of the local police. A financial expert witness can be also be called in just by the court in order to be asked questions so that the lawyers can have a better feel of the case at hand, especially in cases that tend towards abstract evidence, such as the cases that may rely on the understanding of an obscure psychological study. He or she can even prove or disprove the cause of the case even before the case really gets started at all, either by showing that their fee was well spent; that is by winning the case or by saving the expense of a court case altogether.
An expert’s testimony is of very great use, although there are some debates of recent about the validity of financial expert witness reports due to the due to the increase rate of bribery in the system, an expert testimony from a financial expert witness is still highly regarded in the legal system in general. It also provides a lawyer with access to knowledge that he would not normally have access to, and thus allows a better case to make.

Download Fxrobot To Enjoy Good Returns On Your Investment In Forex Market

Forex trading offers you the best platform to invest and earn good returns.This is also very simple to understand even for a novice but when they are planning to invest in the market they need to follow the right strategies to earn consistent returns.A lot of factors influence the forex market as any changes in the political scenario, economic status of a country, change in the interest rates etc. influence the currency values and you need to be careful in analysing these factors before actually taking a decision to buy or sell a currency pair. This surely needs lot of your time and attention to work out on the calculations and the charts to make your decision on investment. However, to reduce the manual calculations and be more certain about the results you can download the Fxrobot which is a software that is developed to do all the hard work and simply generate a single that helps the users to make their decision whether to buy or sell the currency pair in the market.

The forex robot easily does more than 15 to 23 calculations per minute and at the same time analyse different factors that influence the trading market. The robot does all the ground work and just generates a buy signal when the currency value of pair is about to increase and sell when the currency value is about to drop so that you can make good profits on your trading in the forex market. Apart from receiving the single and implementing the decision there is nothing else that you need to do with the forex robot and simply enjoy the good returns without any risk factor. The forex robot predictions are above 90% accurate most of the times which is even not possible by a pro in forex trading with years of experience or expertise. The Fxrobot makes it easy for you to spend quality time with family and friends instead of studying and analysing the calculations that surely consume your time and energy.

If you are still not sure about Fxrobot you can simply download the demo version for a trail and if you are satisfied can actually install the full version on your trading platform for you to enjoy risk free investment and assured profits on your forex trading in the market. Many people have benefited with this trading robot and you too can surely make consistent profits in the market without any hassles.

Forex trading offers you the best platform to invest and earn good returns.This is also very simple to understand even for a novice but when they are planning to invest in the market they need to follow the right strategies to earn consistent returns.A lot of factors influence the forex market as any changes in the political scenario, economic status of a country, change in the interest rates etc. influence the currency values and you need to be careful in analysing these factors before actually taking a decision to buy or sell a currency pair. This surely needs lot of your time and attention to work out on the calculations and the charts to make your decision on investment. However, to reduce the manual calculations and be more certain about the results you can download the Fxrobot which is a software that is developed to do all the hard work and simply generate a single that helps the users to make their decision whether to buy or sell the currency pair in the market.

The forex robot easily does more than 15 to 23 calculations per minute and at the same time analyse different factors that influence the trading market. The robot does all the ground work and just generates a buy signal when the currency value of pair is about to increase and sell when the currency value is about to drop so that you can make good profits on your trading in the forex market. Apart from receiving the single and implementing the decision there is nothing else that you need to do with the forex robot and simply enjoy the good returns without any risk factor. The forex robot predictions are above 90% accurate most of the times which is even not possible by a pro in forex trading with years of experience or expertise. The Fxrobot makes it easy for you to spend quality time with family and friends instead of studying and analysing the calculations that surely consume your time and energy.

If you are still not sure about Fxrobot you can simply download the demo version for a trail and if you are satisfied can actually install the full version on your trading platform for you to enjoy risk free investment and assured profits on your forex trading in the market. Many people have benefited with this trading robot and you too can surely make consistent profits in the market without any hassles.