Kategori: Business & Finance

Pools can provide a centerpiece for backyard fun and endless summer entertainment. However, pools don’t come cheap; with in-ground pools costing tens of thousands of dollars, many people find paying for the full expense at once difficult. Luckily, there are several financing options available to acquire the necessary funds for a pool.

Borrow against your home equity

There are a few ways to borrow against your equity to finance a pool. With a home equity loan, you use the equity you’ve built in your home to borrow a lump sum of cash. Another way to borrow against your equity is a Home Equity Line of Credit (HELOC), which provides revolving credit—essentially a line of credit you can keep borrowing from over a set period of time up to a certain limit, rather than a lump sum. Both a home equity loan and HELOC allow you to tap into your equity to finance capital improvements.

Keep in mind that borrowing against your home equity leaves you with a second mortgage—your monthly debt payments will increase, and you will be a riskier proposition to lenders, which could complicate future attempts at refinancing your first mortgage. It is also worth noting that these are secured loans. If you manage your borrowing well, you could leverage your home’s value to finance its improvements. However, you can lose your house and pool if you fail to make your payments.

Borrow against another asset

Your home isn’t the only asset you can borrow against. By pledging the value of assets like stocks and mutual funds as collateral, you can take out a securities-based line of credit. If you have a permanent life insurance policy, such as whole life insurance, you can even borrow against the policy’s cash value component. What is whole life insurance? Whole life insurance is a form of life insurance with consistent premiums, a guaranteed death benefit, and a cash value component. The cash value can be used as collateral for loans.

Borrowing against an asset that isn’t your home can be a flexible way to finance expenses and increase your borrowing power, particularly if you purchased your home recently and haven’t accumulated much equity.

Take out a personal loan

It is also possible to take out an unsecured personal loan to finance home improvements. Banks and credit unions will typically look at things like your debt-to-income ratio and credit score to determine your suitability as a borrower. Personal loans are usually disbursed much more quickly than other loans, but you’ll often pay for their convenience with higher interest rates. Some banks market their “pool loans,” even partnering with your local pool installation company, but these loans typically function identically to any other unsecured personal loan.

Thinking through the options

There are multiple ways to furnish the funds for a new pool, including borrowing against your home equity, borrowing against another asset, or taking out a personal loan. If you’re thinking about installing a pool, consider all your options and decide what works best for your financial situation. If it all works out, you can be floating in your own backyard oasis before the end of the summer.

The primary purpose of permanent life insurance is to provide a death benefit.  Loans taken against a life insurance policy can have adverse effects if not managed properly including a reduced death benefit or an unexpected taxable event

Carputty Financing with Flexline

There are two big problems when buying a car – that, above all others, are absolutely maddening. The first is trying to get good financing on a car that isn’t full of fees and steep interest rates and based on information that ought to be irrelevant to buying a car. The second is trying to figure out when the best time to sell or trade in your used car actually is. How do you know its value? How do you know when the market will be the best?

These problems have frustrated car buyers for decades, and finally a combination of technology and disruptive business ideas is making a change to the way that cars are bought and sold. And that is Carputty.

What Makes Carputty Flexline Offers Better?

At Carputty, we look at one thing when we’re figuring out how much you can borrow: you. The car is a factor, but unlike traditional lenders, it’s not the primary factor. That doesn’t enter into the calculations of how we figure out what interest rate you’re going to get. Our interest rates are based on your personal financial information, things like income and credit score. They’re never based on external factors.

And more importantly, when you get a Carputty Flexline offer with an interest rate attached, that’s the deal–and it’s a very good deal. When you go to the dealership and tell them that you have the financing all lined up, they’ll probably say, “Well let’s see if we can beat it”–they want to draw you into another one of those endless back and forth loops. But you can tell them “No, this is the lowest rate available and I am 100% confident in Carputty.” That’s it. You fill out the paperwork, show proof of insurance, and you get the keys to your new car.

And did we mention that this is done with a soft credit pull? That, as opposed to a hard credit pull, means that the credit pull will not affect your credit. If you’re in the market for a new car and you go to multiple dealerships and they all pull your credit to see what rates you can expect, your credit score will DROP. But Carputty exclusively uses soft credit pulls until you are approved and accept Carputty Flexline as your car financing.

Really, it’s amazing that car financing isn’t always this simple.

But that’s not all! Carputty will consolidate all of your car loans into one monthly payment, whether you have two or five cars in your household. They will all get the same treatment, and you know already that you are getting rock bottom interest rates based on your good income and credit score. So there’s really no question which car financing you should choose.

Carputty’s V3 Valuation Tool

Sometimes financing a car means that you’re needing to sell your existing car or trade it in. There is always the question of how you know the value of the trade-in–do you just take the dealership’s word for it, knowing that it’s in their best interest to give you the lowest trade-in value they can get away with? Or do you go online and look for similar cars to yours that are currently on sale and try to figure out the price. Or, getting a little more accurate, do you turn to Kelley’s Blue Book?

The answer is that none of those things are the answer, because what all of them do is show you a single snapshot of a moment in time. They show you what your car is valued at right now, today, in this current market. They DON’T tell you what your car is going to be worth three months from now or two years from now None of these systems are built to show you what the future value of your car is.

But what if you could accurately predict the time when your car is at its best value, the best time to sell it? Remember: cars do not depreciate in a linear line. This means that they don’t lose $250 or $400 of value every month and exactly that much over and over until they are worth nothing. No, the depreciation of a car moves in a wavy line. This is because there are certain seasons of the year when your car is going to be more valuable. And there are certain milestones that certain makes and models meet after which they take a steep nosedive.

If you can know with certainty when your car is going to be at the perfect point to sell or trade-in, then you can maximize your profit, meaning that you’ll have more money to spend on your next car, meaning that your payments will be lower, or your term will be shorter.

Take a look at the V3 Valuation tool right now and plug in your car’s make, model and mileage, and look at the graph it presents to you. It will show you periods of time when your car stays about the same price for several months, and then it will show you periods of time when it descends rapidly. Knowing this, you can make some great car selling decisions.

Combine Financing with Valuation and You Have a Recipe For the Best Car Trade-In Experience

If you know the right time to sell your car down to the month, thanks to the V3 Valuation Tool, you will be able to get the best possible price for your trade-in. And if you combine the best possible price for your trade-in with the best possible interest rate for your car loan, then you have just won. You have beat the battle of car buying.

This is what Carputty does for you: it makes car buying the best experience that it can possibly be and makes your experience in driving out of that dealership the happiest it can be. No need to second guess your decision when you know you’ve made the shrewdest business deal you’ve ever made with a car.

The finance industry is an enormous one. With so many different aspects it can be difficult to navigate, but it is worth it. There are many different ways to make additional income.

RLT Finance is here to help educate people about finance. RLT Finance is an online blog, with topics ranging from personal finance to real estate investing.

David, the founder of RLT Finance, is a lawyer working in the financial services industry. David invests in rental properties on the side. His experience with different streams of income inspired him to start a blog to help others achieve similar success.

“I hope you can find something useful here to enhance your financial life,” said David.

David’s articles are extensive, yet easy to read. David prides himself in not only the tremendous detail each article dives into, but also the vast array of topics covered.

Looking for passive income? RLT Finance has got you covered with a brilliantly written article on how to achieve passive income.

This article provides many different ways to achieve passive income, and there are even guides available on how to go about with each method. RLT Finance mentions different revenues you can start such as vending machines and billboard signs.

But getting into niche areas like that can be difficult. Luckily, RLT Finance has blog articles on how to get into each and every opportunity listed in this post.

“This website is great for both beginners who are brand new to finance, and experts who have been making money for decades. There is something for everyone!” said David.

Are you looking to start a business? With the RLT guide on how to start a business, you can arm yourself with all the tools necessary to get your business up and thriving in no time!

Do you have questions about anything you read on the site? If so, feel free to shoot David a message! David loves helping out his readers and will get back to you in record speed!

What are you waiting for? Check out the best blog on the internet today!

About RLT Finance:

Hi – my name is David and welcome to my blog. I started this blog to help anyone looking for alternative investment options and strategies.  In other words, options other than the standard stock market strategies out there. There is certainly nothing wrong with investing that way (and a good portion of my portfolio is in the markets ), but I have always found the volatility of the stock market unsettling.  It is tough to know where to put your money when the markets look frothy. So I am constantly searching for ways to diversify my investment portfolio through less well-known alternatives that have the potential to offer great returns without some of the drawbacks of investing in the market.

Brassica Finance is debuting its first service in a suite of investment infrastructure tools designed to facilitate the back-end operations for tech-enabled investment platforms and financial intermediaries that manage digital assets.

Companies are barely making it work right now, and many may be knowingly or unknowingly cutting legal corners. Private securities and digital asset investing are still a wild wild west and need infrastructure to create trust in the space. The need for compliant and reliable investment services is basically existential to the budding industry of private retail and crypto investing – and Brassica Finance offers just that.

Ultimately, what drives the team at Brassica Finance is the democratization of access for anyone, not just the mega-wealthy, to invest. The markets will likely be volatile for a long time to come, but the underpinning infrastructure needs to be airtight.

To know more about Brassica Finance, check if they are hiring, or learn how to get on their waitlist, check out their website at http://brassicafin.com.

About Brassica Finance:

Brassica Finance offers a suite of investment infrastructure tools designed to facilitate the back-end operations for tech-enabled investment platforms and financial intermediaries that manage digital assets. As a company, they seek to democratize people’s access to investments.

Press Contact:

Steve Lee
Brassica Finance
3131 Eastside St, ste 100, Houston TX 77098
(888) 237-5260

RVs are a fun way to travel the country without flying and still have all of the luxuries of home. Since RVs are a unique mixture of an automobile and home combined, financing doesn’t fall within your typical categories. RVs have a higher price tag, therefore, an RV loan can help you finance your purchase.

What is an RV loan?

RV loans help finance a purchase of a new or used RV that you cannot purchase outright. Since there are a wide range of RV sizes, types and prices, RV loans have different options for term length. RV loans are always separate from auto loans because they are a much larger purchase. Different lenders have different term lengths with some lasting a few years and other loans are repaid over a 20 year period. For a small RV loan, you have the option of a personal loan which some banks require for RVs under $10,000.

How Loans for RVs work

Borrowers must submit a loan application that the lender reviews and evaluates. The borrower’s credit plays a large role in acceptance and interest rate, as well as the size of the loan and down payment. Lenders may also look at your income, debt to income ratio, employment and housing. Larger loans have more strict requirements and may require additional documentation.

If you prefer getting an RV loan through a lender versus a dealership, you can get pre-approval before shopping for your RV. Smaller loans may be 2-3 years in length where a larger loan can be 10 to 20 years. Interest rates are fixed so your payments stay consistent. Down payments are usually required, and fluctuate between 10% to 20%. Some lenders may require an inspection which costs around $150-$200.

There are two types of loans: unsecured loans and secured loans.

• Smaller RV loans are typically unsecured and function like personal loans
• Larger loans for luxury RVs are secured like an auto loan or mortgage, using the RVs title as collateral. If you fail to make payments on a secured loan, your lender can repossess your RV. Interest rates are often lower on secure loans because of the collateral.

Where do you get an RV loan?

There are two options for financing your RV: through a traditional lender or through the RV dealership

Traditional Lender or Online Lender

You can get a loan through a traditional bank or credit union. It’s suggested to get pre-approved by the lender before you go shopping for RVs. This is helpful to know how much you can afford based on your credit history.

RV Dealership

The dealership can give you options for financing and this is often an easier route to go. RV Dealerships have partnered with various lenders which give the buyer more bargaining power.

If you plan to buy an RV that is less expensive, it is often suggested that you finance through a personal loan. You can do this prior to shopping to have the money on hand and can make your RV purchase outright.

What is the length of an RV loan term?

RV loans are typically larger than an auto loan so they are often for longer terms. The most common timeframe is between 5 to 10 years. Depending on the price of your RV and the size of your down payment, higher priced RVs can be financed for up to 20 years. The age of the RV is a big factor. If an RV is older than 10 years, you cannot do a long term loan. Typically, lenders only allow a loan for 5 years or less with a downpayment of 20% if the RV is older than 10 years in age.

The size of the loan determines the term length of the loan:

• If the loan is under $25,000, most lenders finance from 5 to 7 years
• Loans of $50,000 are usually financed for 10 years or less
• RVs over $50,000 have a loan length of 10 to 15 years
• Any loan over $100,000 can have payments for a 20 year loan term/
• Steps to apply for an RV loan Determine your budget Before you start shopping, determine what you’re going to use the RV for. Make a list of your must-have features. Research the RVs that carry your requirements. Since RVs vary in size, type and costs, evaluate if the cost of the RV that meets your needs and fits within your budget. Another way to determine your budget for purchasing an RV is to calculate your monthly finances to see how much room you have within your budget each month. Keep in mind maintenance, fuel and insurance costs as well. Check your credit score Your RV loan interest is largely determined by your credit score. Some lenders are more strict than others. Generally speaking, a credit score of 700 or higher is preferred for an RV loan. Other lenders specialize in loans for bad credit such as My Financing USA. It’s important to check your credit score and improve it if needed.   Save for your down payment It’s very important to save for your down payment on your RV. Most lenders prefer a 10% down payment of the purchase price while other lenders can require up to 20% down. Start saving for your down payment as soon as possible. The larger of a down payment you apply to your loan, the less your monthly payment will be. This can also decrease your interest rate. If you have bad credit, a bigger down payment will help your chances of getting approved for an RV loan. Shop for lenders Shopping around for your lender is smart. Dealerships can assist you through their in house financing. This is a more convenient option since they take care of all of the details. If you choose a private lender, complete the application form and get pre-approved before shopping for your RV. If you purchase an RV under $20,000, a personal loan may be the best option for you. Negotiate terms of RV purchase Do your research and shop around for the best RV to fit your needs. Keep in mind, some dealerships mark up the price as they expect you to negotiate. You may be able to get up to 20 to 30% off your RV if you negotiate the price. There are often holiday sales or sales allowances the dealership can apply. Some dealerships can throw in discount maintenance service, longer warranties or extra upgrades.   Now that you’re ready to start the process of financing your RV, you’re ready to start shopping! If you need assistance with your financing options, Lakeshore RV in Muskegon Michigan is here to help! We offer stress free financing to get you on the road to explore. Lakeshore is proud to carry the top RV brands at the lowest prices available. Our credit application only takes a few minutes, and is safe and confidential. We also have a helpful online calculator to determine your loan amount. Call us today 231-788-2040 or find more information online here.