How to Buy a Car with your Spouse?

Ever thine, ever mine, ever ours! – Beethoven

Once you say ‘I do’, there is no such thing as ‘mine’ and ‘yours’. Everything you own or will own in the future becomes ‘ours’. As a married couple, you may feel like bringing together your resources to buy something. It is a noble thought but when it comes to making a big investment such as a car, tread lightly.

Buying a Car with your Better Half: Deal with Bitter Questions

Buying a car involves making several decisions. You have to consider the type of car that you want to buy. But, before saying ‘I do’ to buying a car with your spouse, you will have to ask each other a few hard questions.

>>What size of car will suit your needs? Also, decide on who will be driving the car most of the time. It will help you to narrow down your options.

>>If you are going to expand your family in the near future, you must consider a kid-friendly car such as a minivan or an SUV.

>>Consider the budget of the car. Will both of you contribute towards the monthly car payments? Are your incomes adequate to manage the car payments along with other debt obligations?

>>Will you be able to manage a down payment? Usually, young couples have hard time getting together money after an extravagant wedding. So, consider your financial situation before visiting a dealership lot.

>>The D-word is often off-the-table for young married couples. However you must remember that in a situation of divorce, a co-buyer will be responsible for the car even if he/she doesn’t use it. Also, division of assets can be a problem when you own a car with your spouse.

A Co-Buyer or a Co-Signer: The Big Auto Loan Question

Discussing the size of the car and the budget are simpler things compared to the big question of auto loan. It is not necessary for your spouse to have a good credit score. A few late payments in the past may have rendered a stain on your credit report as well. You need to discuss your financial situation and credit score before buying a car.

If you are a co-buyer, both of you will be the owners of the car. When you are a co-owner of a property, you and your spouse are responsible for the ownership of the car as well as the auto loan. The lender will review your credit score and your partner’s score to judge your joint auto loan application.

When you become a co-signer for the auto loan, you will only be responsible for the auto loan. You will have no ownership rights. It means the lender will not consider your personal income for approving the loan. But, remember that as a co-signer, the lender will require you to have a good financial standing as you will have to make payments if your spouse is unable to make them.

How to make a Decision?

Who has a Stable Financial Situation?

If your partner earns a good income and has an impeccable credit score, he/she will be able to increase your credit worthiness. The lender will consider his/her income to ascertain the loan amount. It will also help you in lowering the interest rate. With a stellar credit application, the lender may be tempted to provide you with a high LTV. So, when your spouse has a stable financial situation, you can ask him/her to become a co-buyer.

When both of you have average credit scores, sit with a loan officer to make a decision regarding the primary borrower. After considering your incomes, debts and credit scores, you will be able to make a secure decision.

When is going solo the Best Option?

In a real-life scenario, marriage doesn’t always mean being equal. One of you may have significant credit card debt. It is possible that you may still be paying your student loan. There is a possibility that your partner is just starting his/her career and doesn’t possess a good credit score. In such a situation, you have to think twice before making a decision.

If you think that your spouse is not financially responsible, it is best to buy the car on your own. Also, many spouses feel more confident when they have financial autonomy. So, think hard and do not be afraid to ask uncomfortable financial questions. Buying a car is a big responsibility. And, if you are not sure about taking the plunge, it is best that you become the sole owner of the car.

Christmas Loans – Secure Funds to Celebrate Fiesta in Grand Style

Are you desperate so much to mark your presence in the grand celebrations of upcoming Christmas? You must have started the preparation of all the expenses such as Christmas gifts, decoration of your home or go out for a memorable holiday. All these activities during the fiesta fill your life with happiness, fun and most important, a relief from day to day busy life. However, excitement and celebrations are the one aspect of Christmas, but the other aspect is to become equivalent to the expenses. Aspiring for big, but with not enough funds into account would be difficult.

By doing shopping through credit card might be a good option to control the expenses. However, it only favours small expenditures. If your requirement is for large funds, then opting for Christmas loans would be much better choice for you. These loans are indeed useful in terms of fetching financial assistance without any hassle.

Loans Available on Easy Interest Rates and Repayments

Christmas loans are the ideal financial source to generate funds for the festival’s expenses. One can easily fulfil his or her personal requirements with getting desired funds into the deposit account. More importantly, the loans are offered on the reasonable interest rates and flexible repayment schedules. The marketplace of the UK has now the presence of the lenders, who are opened to the modern-day lending approach.

Applying Christmas loans for the large funds would give an advantage of low repayments to follow, you can easily pay pack the funds without disturbing the monthly budget. It becomes more crucial when the borrowers have poor credit scores. By repaying the funds within time, they can find the credit scores is once again back on the positive side and borrowing more funds would not be difficult at all.

Apply Loans with No Hassle, As No Collateral Is Required

In order to keep the interest rates within their control and also to secure large funds, most of the people opt for the secured Christmas loans. It is indeed a good option to choose, but not all the time. Suppose, you only need to have small funds to overcome small financial needs, then you opting for secured option would not be good to your finances. Keeping your home as collateral for small money would be a huge risk to obtain. Instead, your option should be unsecured Christmas loans.

Finding the lender, who can provide loans in the unsecured way, is not difficult at all. In the huge marketplace of the UK, there is no shortage of lenders providing such easy credit option to the borrowers. They further help in getting the loans on the competitive APRs and enjoying the festival will become more feasible.

There might be a chance that the lender may ask for a guarantor if it agrees to unsecured loans for Christmas. And, if the borrowers do not have a person to back them in the repayments, then the lender still may agree to provide loans, but only in specific conditions and the interest rates would be slightly higher.

Thus, opt for Christmas loans and fix the opportunity for you to celebrate the festival at your own will.

Avail the No Credit Check Auto Finance to Own a Car Despite Of Poor Credit

However, before doing that, you should make sure that the auto loan dealer that you are working with is offering you the best possible deal and is a reputable dealer to work with. Purchasing an automobile when you have poor credit could seem to be annoying and at several times, a complete dead end. So, when you are consistently being denied for getting an auto loan, what would you do? No credit check auto finance might be the answer that you are looking for. You would have heard or seen that many auto finance lenders offer guaranteed no credit check car finance and the first question that would strike in your mind is “how?” There are auto finance dealers that are able to do so since they do not work with any banks nor do they work with any third party auto finance lending companies. These dealers are commonly referred as either ’In-house financing’ or ‘Buy here pay here’.

Advantage of Guaranteed no credit check car finance from Dealer

Since the dealerships do not require acquiring financial support from any third party money lending source, it enables them to offer more flexibility regarding the approval criteria for auto loans as opposed to the traditional car finance lenders.

No Credit Check
Credit Score is not an issue when you are dealing with In-house financing. The in house financing dealers will utilize your employment, income and the history of your residence to determine your capacity to repay the auto loan amount that they would be lending you. It is a quick process and as there isn’t any emphasis on analyzing your credit history, bad credit car buyers tend to get more attracted towards these no credit checks car loans.

Flexible Payment Schedule
Credit dealers are less likely to give more flexibility especially when it is the matter of payment options. Usually, your auto loan monthly repayment date is coordinated with your payday. This means that you might be paying bi-weekly or weekly. The dealers may allow you to make the payment in person at their office or some may offer options for online payment of the monthly repayments.

Choice of Vehicle
When you want to finance a car with no credit check, you would have to first identify that budget that would be affordable for you for the monthly repayments of the auto loan amount. Once you have decided on a budget that you can afford for the car purchase, the in house financing dealer would then offer a selection of cars for you to choose from.

If you really want to get the car finance quick and hassle free, it would be very tempting to opt for the guaranteed auto approval!