Category: Loan Page 2 of 21

Ways to get the best car loan rates in Ireland

On October 3, 2023

An auto loan is an expensive loan followed by a mortgage, so there is always a scenario to look out for a deal with the most affordable interest rates. Negotiation is the key, but you win half the battle. There are a lot of things that you have to do to get an auto loan at a lower interest rate.

Financial experts always suggest that you carefully shop around the deals before you qualify for an auto loan. Getting a pre-qualified deal can help you land the best car deal to save money on interest. Many people would suggest buying a used car or a less expensive car, but you do not have to kill your dream of buying your dream car.

You just need to be a bit strategic while shopping for your car loan. Pay attention to interest rates, APRs, repayment terms, and associated fees. Here are the tips to get the best cat loan rates in Ireland:

Do up your credit score

First and foremost, you should check your credit score because a lender will check it to find out your past payment behaviour. The repayment length of these loans can be up to three years or maybe more, depending on the size of your loan and your current financial situation.

A good credit score is mandatory to secure an auto loan without a hitch. Your credit score plays is the first element considered in determining your interest rates. Do not assume that you cannot get the nod if you have got an abysmal credit rating, but high interest rates will be charged.

The average interest rates for a car loan can vary between 6.5% and 22.5%. However, if you are taking out a loan for a used car, the interest rates will vary between 10.9% and 30.15%. You can check your credit score online. However, your bank and credit card issuing company can also update you. Having checked your credit score before applying for a loan is helpful because if your credit score is abysmal, you should spend some time improving it.

It is not an overnight process, so you will have to put off your plans of buying a car. You can do up your credit score through a number of ways including showing less reliance on debt. When it has been a long time since you took out a loan, the implications of your previous payment defaults will not be severe. If it is not possible to touch a good credit score range, that is fine, but make sure it fits in a fair credit score range.

Shop based on total loan amount, not based on monthly payments

It is crucial to do proper research before taking out a car loan. Each lender charges different interest rates as they have their own methods and perceptions to gauge the risk involved in loaning you. It makes sense to get a pre-qualified approval letter from a lender, but this is estimated without a credit check. It will be of some help to some extent.

You often make a decision based on the impact of interest rates on your monthly instalments, but that is where you slip up. The size of monthly instalments will be lower when you choose a repayment period, and this can be used as bait for lenders to switch you to a longer repayment plan.

If you do so, you will end up paying more than you would if you opted for a shorter repayment plan, and that is because of accrued interest. Of course, you will have to choose a longer repayment period if you cannot afford to pay a bigger monthly instalment, but if you can, do not stretch the payments.

Limit applications

Of course, it is very rare that you put in an application to a lender and get signed off on. Despite a decent credit score, your lender may find you a borrower with a high default risk and turn you down. In order to avoid this situation, you will likely be tempted to apply to as many lenders as possible within a very short period of time.

Never do this if you want to protect your credit score. This will pull down your credit points, and you will never be able to get the best car loan rates in Ireland. At a time, you should apply for a loan from only one lender, and if they refuse, make sure you do not turn to another lender immediately.

There must be at least a period of two weeks between two applications. In order to tackle this situation, you should use pre-qualified approval letters. This will keep you from losing your credit points. However, bear in mind there is no guarantee that this problem will be completely eradicated as the actual car loan rates are determined after perusal of your credit history. If your lender finds that it is not so impressive, they will likely refuse you.

Read the fine print

A lender is not bound to tell you everything about interest rates, APRs and fees. Your application is accepted, and then you will be sent a loan agreement that contains all details. Once you accept it, you cannot back away. The agreement could be long and tiring enough to read, but make sure to read the fine print.

This discloses everything about interest rates, APRs, processing fees, early repayment fees and upfront fees. You can easily understand them. However, if you still have some doubts, ask your lender before signing the agreement.

The bottom line

Finding the best car loan rates in Ireland can be backbreaking, but by being mindful, you can save a lot of money in interest. Shop around and compare the deal based on the total loan amount, improve your credit score, limit applications, and read the fine print. Give priority to your credit score and repaying capacity because these two factors play a significant role in deciding car loan rates in Ireland.

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6 Best Ways to Save On Groceries and Food Items

By Mac Liam

On February 24, 2023

In Loan

You are already struggling with so much on your plate, like- petrol bills, utility bills, child fees, rent, etc. Why put an extra burden on yourself by dedicating one portion to food?

Whether it is a small celebration or just an ordinary day, food is an essential part of your life. Moreover, with inflation ruling the pockets of individuals, cost-cutting on certain things has become imperative.

The groceries are getting costly due to transportation costs and surplus availability. Everything from daily milk and tea is soaring in price. You may be unaware that you can make the most of the leftovers and save on food. The blog here lists some lesser-known ways to save on food and grocery costs hassle-free.

How To Save On Food Given The Minimal Income And High Price?

The cost of food rose to another 0.6% in January 2023 from the last month. There is a sharp price hike for maximum food categories except for fish and meat. And to utter shock, food inflation is at an all-time high this year in the last 45 years in the UK. It is indeed an alarming thing to counter.

Why are food prices rising in the UK?

Inflation in food has gone recently due to the following reasons:

Soaring energy prices owing to the Russia-Ukraine war
The war is also pushing the costs the animal feed and fertilizers
An increase in demand after the lockdown
Brexit regulations

It is the very reason behind the rise of prices of essentials by 65% in the past 12 months. Right now, the primary concern among the country’s citizens is countering food costs. If you can relate to the concern, here are some ways to save on food and grocery costs hassle-free.

1) Plan your meals portions carefully

Yes, it may sound easier than done. But having a good meal plan can save you from the weekly meal planning hassle. Identify what you would need for the week – like the ingredients, vegetables, etc.

Doing so can save on adding something extra to your kitchen counter that you hardly need. Invite the attention of the other members of the family to prepare a weekly menu. It would help you identify and prepare dishes everyone likes and buy ingredients in advance.

Buy ingredients by the weekly meal plan. Do not buy extra; it will go to waste- like buying extra vegetables.

2) Keep stock of the available ingredients

Always keep an eye on the things you already have

Planning and stocking things will help you cut through buying extras. If you have good spices for the week, skip them.

Stress other things that you would need more of in the coming week. Make a list. Double-check the non-perishable items on your list.

And while doing so, check your fridge and freezer. You may find some leftovers like meat, egg, and milk. Please do not ignore it and wrap it up by making delicious dishes the next day. If you doubt the quality, throw it in the bin.

3) Identify things that you can buy in bulk for profit

Certain things, like buying mince in bulk, can be cheaper than buying a limited quantity. Identify things like these to work within your budget and save more. However, buy such things only if you need them weekly; otherwise, skip them.

Do not fall into impulse buying encountering the big banner stating discount. It is easy to give up on that temptation. It is especially when you are in the supermarket. It is hard to resist certain things there. To avoid this, take only the cash you need.

4) Know when to land in supermarkets

When you are out to shop, decide whether it is the best day to do so or not. Some days are shopping when it is cheaper than other weekdays. Identify these in your area and grab th opportunity. The grocery stores either re-stock their stocks or mark what they skipped to sell the last week.

And because they are out on clearing the stock, they offer a whopping discount on some groceries. However, always identify the freshness of the same while buying. If you suspect it leaves it, no matter how cheap it is. It may cost your health.

Early birds get to hit the clearance button. Thus, be the early bird when you shop on these busy days. You may encounter a good crowd, thus choose a time when there is less traffic in the supermarket, and you can shop without panicking.

5) Prefer to pay with cash than credit cards

It is a thumb rule while shopping online- Keep up the cash as cash is king! You are less likely to fall or spend extra when you have a grocery list. When you reach the store with the needed cash, you only spend the amount you ought to.

It would help you buy vegetables than vying over ice creams and chocolates. Buying such items occasionally is okay but stop when it begins to regulate most of your finances. You can either shop for the month or the week.

It is better to go by the week as the freshness of the items matters to cook a portion of healthy food. However, you can buy items that last longer than a month on week offs or as suitable. Follow the same procedure while doing so.

6) Check out reduced food sections

Many people avoid the reduced section when shopping for food because they mistakenly think that the counter must be out of food or would not be healthy.

However, this isn’t the case. The food in the reduced section of your supermarket has products that share close dates or near expiry. It is ideal only if you have same-day usage.

But if you have one, you can save on the costs of such items.

However, if you want to avoid taking a chance and need extra cash to invest in healthy stuff, tap easy and quick loans for bad credit online. You can easily spot and fund your purchase without second thoughts about the stuff.

Bottom line

These are some ways to save on food and grocery costs hassle-free. Apart from this, it would help if you worked on your spending habits and financials. You will be surprised to see your wallet by the end of the month.

09 Cleverest Ideas to Save Money in Your Home Renovation Project

By admin

On June 25, 2022

In Loan

You may be on a stiff budget or planning for a major home remodelling. The overall cost of this undertaking can easily go out of control if you don’t manage it well.

The price of remodelling is one of the biggest household expenses. Many people take a home improvement loan to fund it, as using savings for a bulky project is not good for financial well-being.

A house renovation not only enhances its overall look but also increases its worth when you sell it. It converts your home convenient to live in while it speaks your style.

A renovation project can chunk out more money than you have anticipated because even the tiniest costs keep adding up. Also, sometimes you fall into temptation without realizing the impact it can do on your renovation budget.

Suppose you don’t want to add more burden on yourself and avoid draining your finances. Then you have to come up with a strategy that helps you not go beyond your budget while achieving your remodeling goal.

How to carry out a home remodeling on a tight budget?

Once you are in the process of remodeling your house, not only significant updates but also the smallest extensions can get super expensive if you don’t pay the needed attention in this undertaking.

Suppose you don’t want to fall short on your money in the middle of the remodeling project. Then try focusing on saving the money before even beginning with the project.

Here are some of the cleverest ideas that can save up money on your next or current home renovation project.

Estimate the cost early

Before you begin your remodeling process, the first vital step is collecting the estimates. You can estimate a rough calculation or approximate it, and this step can help you make essential decisions in the process.

You should know every basic before you start renovating your house. Knowing every basic will help you find out all the hidden costs and do the modification according to your budget and remodeling plan.

Select simple designs

Designs that are curvy, trapezoids, and triangles are often difficult to construct. The more complex design you choose, the more funds you will need to pay your contractor.

Suppose you would like to save money on your remodelling project. Then consider choosing a less complex shape like rectangular or square flooring. Try to avoid cathedral ceilings and other complicated roof designs.

Choose small

If you evaluate the cost per square foot, a big home can be very expensive to build. A big house means there will be many plumbing and heating work.

Choosing a small building is highly affordable and very economical to conserve. A small house can also look astonishing if your contractor possesses the expertise in the field. You can also share your ideas. Read books that contain designs that are easy to afford and make a tiny space appealing.

Go for tall

Don’t just build a single-storied home with an extended basement. You may wish to construct an affordable house and then opt for a compact one. Consider building a multi-storied or tall house that offers ample space with a smaller roof and basement.

The cost of plumbing and ventilation is often reasonable in such tall houses. The initial cost of building a multi-storied house might be expensive, but you considerably lower its maintenance in the longer run.

You will need a lift and scaffolding in a tall building. Keep these costs added to your renovation budget if you want to go for a tall shape.

Don’t opt for phantom space

When you start building your house, you will, of course, check how much space it has and what you are paying for. Find out how much area is needed for living, garage, insulation and attic. Check if the mechanical system is separated from the floor space.

Whenever you receive the first draft of your new house, go through it carefully and see if everything fits well geometrically.

Deciding cabinets

Cabinets made with solid wood not only look elegant but also are very inexpensive to give any space a designer look. You can also opt for open, stainless steel, painted or even a mix of all for home office, kitchen, and bathrooms.

Recycled materials

Using a recycled or already used building material can save up a lot of costs in your home renovation project. Materials like steel, straw panels, and cement composite can help you to lower the cost.

You can also use the light fixture, windows, lumber, doors, fireplace mantel, architectural details, and plumbing fixtures. This way, you will considerably save money on these things if you buy them first-hand.

Choose energy efficiency

If you choose energy-efficient appliances and insulation, you will save a lot of your money in the long run. You can also install solar panels to lower your energy bills. Insulation is very beneficial when there is an extreme change in the climate. But the cost of installation doesn’t come cheap.

You can opt for a money lender to fund this installation. It is a one-time investment that will provide n-number of energy benefits in the future as long as there is the sun.

Finish yourself

You don’t need to be an expert to do some tasks in a remodelling project. You can call your friend and family to help you with some doable jobs like painting, drilling, gardening, etc.

Final thoughts

When you take up a home renovation project, make sure that you don’t get tempted to do modifications right in the middle. This can elevate the total cost of the project, making your budget suffer.

Once you draft a plan with a budget, ensure that you stick to it and follow these money-saving tips when renovating your house from scratch. These clever ideas will help you save a considerable amount of money so that you don’t fall short in the middle of the project. Check out loans lender in the UK : Arbitrage Loans