Logbook loans have seen a big increase in popularity over the past few years, especially among those who have bad credit holding them back from getting traditional loans. A logbook loan is essentially a secured loan where the logbook of the vehicle is surrendered to the lender allowing the car to be used as collateral for the loan. So what is it that makes a logbook loan such a popular choice? Let’s take a look at how they compare to unsecured loan options to find out.

Advantages of Logbook Loans

One of the main advantages associated with logbook loans is that they are available even to those who have bad credit. Even borrowers who have arrears, defaults and even CCJs (county court judgments) on their record are able to apply for this type of loan. The lenders are willing to offer loans to those who would usually be deemed a risk because they have the added security of the car which they can use to recoup losses if the borrower defaults.

The application process is also fairly straightforward in comparison to many other types of loan. Since the majority of lenders do not perform a credit check when it comes to logbook loan applications, that means the application form generally only consists of a short form requesting personal information and some details regarding the vehicle being used as collateral. Often the initial application can be done online, although the logbook will need to be presented to the lender to secure the loan.

The amount available to borrow with a logbook loan will depend on the value of the vehicle being offered as collateral. The majority of lenders will offer up to 75% of the vehicle’s current market value. If all of the paperwork is in order then it may be possible to get same day funding on the loan when approved.

Advantages of Unsecured Loans

The key advantage of an unsecured loan is that no collateral is needed. This means that the borrower is not putting their home or vehicle at risk when securing the loan. However, this does usually means that the interest charged is a little higher than it would be on a secured loan like a logbook loan. However, unsecured loans do have the benefit of having a fixed interest rate so the repayments will remain consistent every month for the full term of the loan.

It is possible for those with bad credit to apply for an unsecured loan, but in order to offset the additional risk lenders may well charge an increased interest rate on loans given to those with bad credit. The amount of money available to borrow may also be limited for those with an undesirable credit history.

Making A Comparison between Logbook Loans and Unsecured Loans

There are advantages to both types of loan – and some disadvantages too – so which one should a borrower choose? The fact that a logbook loan puts your vehicle in the balance should not really be any cause for concern. If you are seriously considering a loan, then you need to be confident in your financial ability to meet the repayments. If you know that you can afford these payments then you should also be confident that your car is not at any real risk.

While both logbook loans and unsecured loans are available to people with bad credit, unsecured loans often charge more interest because the lender does not have the added security that comes with taking ownership of your logbook. This means that a logbook loan may be more affordable in the long run. Logbook loans may also require far less paperwork.

In conclusion, both types of loan offer their own benefits and each also has their share of bad points. However, as a borrower you may find that a logbook loan is the better choice thanks to the stress free application process, lower interest rates and overall flexibility they have to offer.

Hugh Tyzack is the managing director/founder of Loansforbad-credit.co.uk . He is an expert when it comes to loans and personal finances, if you need help getting a logbook loan he certainly can help you find the best deal. Hugh also enjoys playing the piano and listening to music. Why not hook up with Hugh on Twitter @badcreditloans8 and also on Google+ .

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Many people are not aware of this method because they have believed that any process that is supposed to bring money will take time. They are content with this fact and have determined not to be fazed by it. But there is a different way – and it is hardly top secret.

The important thing to stress on here is the term RELIABLE.

People do not make serious sacrifices and work their entire lives so that they can invest their money in schemes that just do not work. In addition, most people wish to get quick returns on their investments. Money is a sensitive subject; and most people do not feel comfortable with their money being in another’s possession for a long period without any evident returns.

Moreover, such things actually do occur when a trader does not take into account this principle of being reliable before even initiating his trading practice.

Can it be that simple? Yes, it is!

When most people start a business, they tend to rely on unimportant issues that have worked in other situations in their lives before. For example, a small shop owner who inherited his shop from his parents will not understand the importance of making a plan before starting a business.

While not making plans, in such a case, does not adversely affect the person, doing the same when starting to trade is disastrous. Trading is actually a type of business. People expect to reap profits from it in the same way that the business man or woman hopes to realize profits.

A trader can actually be defined as a capitalist or entrepreneur because he or she seeks to invest money in something while expecting that there will be considerable profits to be reaped from this enterprise in the near future.

In the same way that business people make plans, traders also have to do the same in order to safeguard their investment, no matter its size. This is particularly important if:

1.  They have never made BUSINESS PLANS before and so are unaware of their importance

2.  They have never STARTED a business by themselves in the past

3.  They do not have any MANAGING experience

This is because their naivety as far as how business is conducted makes them more prone o making gigantic mistakes. It is very importance for such people to take time to make serious plans before they even start to trade.

First time traders ought to take a leaf from the people that respected institutions such as banks consider to be trustworthy and those whose suggestions are never taken seriously. For instance:

1. Banks will not lend money to business people who ask for loans but have no plans.

2. In addition profits hardly ever materialize in businesses that had no plans in the first place

3. Also, most failed businesses can trace back their failure to the lack of a practical working plan when their businesses were being launched.

If a business is to thrive, it must be attended to carefully. In the same way, a trader should make efforts to look after his or her investments.

Trading can bring returns that are hardly seen in any other types of businesses if they are well looked after.

To realize good profit, invest in a plan before you start trading, if you have not already done so.

Brian specializes in helping traders and business owners (both present and future) find their success through helping them develop personally to realize both their potential and their dreams and to learn more about this subject, please visit us at http://insideouttrading.com/

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The conventional wisdom isn’t always correct. There are many times when renting may actually be better for you than buying. Here are a few instances in which it might make more sense for you to rent your home instead of buying it:

When You Plan to Move

Unless you get lucky and buy the right house at just the right point in the market, you aren’t going to be able to flip a house for a profit in just a year or two. In most cases, you will need to be in your house anywhere from five to 10 years before you can expect to build up enough equity and have the value of your house appreciate enough to clear a profit on the sale. If you don’t expect to be in your house that long, just rent until you know that you can stay put for awhile.

When Interest Rates are Historically High

Prime rates fluctuate with the economy. When they are on the upswing, you may not be able to qualify for low enough rates to make the investment worthwhile, even if you have great credit. Even a change of one percentage point on your loan can cost you thousands and thousands of dollars over the life of your mortgage. Waiting until rates come down will help you to save a significant amount of money and to maximize your profits when you decide to sell the home.

When Demand is High

When there is high demand for real estate, home prices go up and rent prices go down. Instead of competing with everyone else to buy a house and to take on an inflated mortgage, you can rent for awhile and save some money. Then you can take what you saved and put it toward a house when prices stabilize. You can invest the money in the meantime to help it appreciate some interest so you don’t feel like you are "losing" it on rent.

When You Can’t Pay a Good Down Payment

Traditionally, you need a 20 percent down payment in order to avoid paying private mortgage insurance, which can add hundreds of dollars to your monthly mortgage payment. Some programs will let you avoid PMI with a lower down payment, but you will still have to come up with a sizable chunk. If you can’t come up with a good down payment, it may be worthwhile to rent for a time and save up the money. Of course, other market conditions will determine what the best choice is, but you may find that this simple change can make all the difference.

Buying a house is not always the smartest financial choice. There are times when renting may be a better option, depending on your personal circumstances and on market conditions. Consider these instances when renting might be the better choice to determine what the best option is for you.

Was there a time when it made more sense for you to rent rather than buy? Tell us about it in the comments!

Kelly Opferman is a seasoned writer who at this time focuses on her site at www.autoloancalculator.org. Her educational background includes finance, teaching, and economics.

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Smart Way To Sell Gold

#1 On-the-Spot Money from Cash-for-Gold Companies

It seems like there are pay-day loan and cash-for-gold shops on every street corner nowadays, which makes it tempting just to go there when you need some fast cash. However, make sure you do your research on the current value of gold before you go in so that you can avoid being scammed. Cash-for gold companies don’t want to pay any more than they have to. But, if you show them what your gold is worth, you’re more likely to get a fair deal.

#2 Gold Coin and Jewelry Appraisal at Pawn Shops and Jewelers

Pawn shops and jewelers are also notorious for buying gold coins and jewelry at below market value. You take your gold jewelry in for a price quote, and usually don’t get anywhere near the value. These shops don’t necessarily have a certified appraiser, either, so it’s really easy to get scammed. Sometimes you’ll find a decent quote, but you’ll have more leverage if you bring in a quote from another place before you go.

#3 Quotes from Mail-in Gold Companies Work

Mail-in cash for gold companies require you to mail them your gold. Then, they give you a quote on the amount they are willing to pay for it. You are given a couple of days to decide, but if you don’t reply in time, your gold is automatically melted down and you are sent a check. That is where a lot of the complaints stem from — people want longer to decide. Yes, the price of gold does go up and down, but you should never be forced into making a quick decision. So, if you’re not comfortable with the high pressure of mail-in gold companies, don’t use them.

#4 Sell Items at Auction Websites Instead

If you don’t trust any of these companies to give you a fair price for your gold jewelry and coins, you can attempt to sell it yourself on an online auction website. That way, at least you get to set the price. Of course, that does mean you have to take the risk on whether someone will buy it or not. Sometimes it’s nice to get a quote from some of these other gold companies so you know what to charge online, too. You can take a look at what gold bullion bars and coins are worth on the US Money Reserve website.

Selling your old gold jewelry is a great way to get fast cash, but you have to be careful to avoid scams. A lot of the time you’re better off paying to have it melted down yourself so you know the actual ounce value. Have you ever sold your gold for cash?

Image via Flickr by Ha! Designs – Artbyheather

The post The Smart Way to Sell Your Gold: How to Avoid Rip-Offs and Scary Scams appeared first on Getting Money Wise.

This security offered by iPad has found its use in the world of casinos too. With a lot of casinos trying to digitalize their gaming platform, a hand held device is the perfect answer. The best feature of an iPad is that it is convenient to carry around and a casino player can play a game at his own leisure. In fact, virtual casino tables allow players to compete in a real game, involving real money, by sitting at their home. The iPad saves the players a lot of time which is wasted in shuffling and dealing of cards. Moreover, there aren’t any physical cards or chips involved, so there is very little scope of manipulation.

Some people might argue that elite hackers could manipulate a virtual game on the iPad and start cheating. However, if you are playing on secured game sessions, like the ones provided by http://www.ipadcasino.co.nz, you can be assured that your money is safe. A great point about these secure and reliable casino apps is that they are totally web based, so anyone with a device that supports internet connection can play the game. You can choose to play various games like casino, poker, blackjack etc. at your convenience. With a steady internet connection, you could be betting on a game with a friend at the other end of the world.

However, buying an iPad in the first place is very expensive. This is turning out to be the most appropriate mobile gambling tablet too. It is bigger than a mobile and small enough to carry around. The touchscreen makes browsing simple and the considerable space makes the gameplay convenient. But iPad comes with a hefty price tag and not everyone can shell out $500 just to buy the lowest end model. The price tag can stretch all the way up to $829. This can seem like a luxury for some and they will need careful finance planning.

There are various ways on how you can save money on the iPad. One can buy a family device for the small kids. One can also use iPad to keep an eye on their monthly expenditures and see how it can help them save money.

Most homes are likely to have some kind of Web tablet for displaying photos, reading, browsing, playing music and videos etc. Today, iPad is used increasingly to access online media and that means that you will not need extensive storage on the device. When shopping for iPad, think about how you can balance the performance, price and storage. You can get the 16 gigabytes model for the $499 model and the prices jump radically for the 32 and 64 gig models.

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An obvious one is, start tracking your spending. The first thing you need to do is determine where your money is currently going and who to? Take time to see what you are actually spending your money on. Don’t worry, there will likely be a few surprises! We’ve all done it, remember that. You are most likely spending more in some areas than you think, and the smallest expenses can add up.

The most effective way to start tracking your money is to keep receipts and write your expenditures down on paper, or use a spreadsheet on the computer. The spreadsheet is more simple than you think! Just take a bit of time to get to grips! It’s probably the most pain-staking task in this, but definitely worthwhile.

The important thing is that you record what you spend as soon as possible to keep your records accurate. Yes, that still means keeping an eye on, and recording your guiltiest spends! Again, don’t panic, it’s all good practice, and you’re just trying to see where your money’s going right now. You don’t need to worry about good or bad spending yet.

Set up a budget, or a spending plan. To manage your money properly and get ahead financially, you need to spend less than you earn (which is much easier to do than you think…trust us). Record your sources of income and when you receive them. Then determine how much of your income is spent on monthly bills and necessities. Plan how you will spend or save any remaining funds.

After tracking your spending for a month, you will likely see some categories where you can cut your spending and keep your budget on track – don’t be afraid to make these cuts either – they are going to be worth it! When making your all-important budget, remember to plan for irregular bills such as pesky car insurance and set aside some money for unexpected expenses.

Make sure you review your budget every few months or whenever there is a significant change in your income or spending. Saving 10 per cent of your income is a common goal and is a good amount to start with.

Last but not least for our tips, if you don’t always pay off your cards every month then stop using them. One way to do that is to not carry them with you. Again, much more difficult than you might imagine, at first. You can hide them if they are tempting you! It might sound strange, but if you do not use credit cards then you can’t spend money you don’t have and will not be spending more than you earn.

Once you start managing your money, you will find out that it makes other parts of your life easier as well.

There is help and advice out there! If you are in debt and need help managing your finances, visit www.md-debtmanagement.co.uk.

The post Smart Tips To Manage Your Money appeared first on Getting Money Wise.

These kinds of tax efficient investments and savings opportunities generally come with guidelines and rules as to who can save, and how much. But if you’re savvy, you can use these rules to your advantage.

Choosing Your Tax Friendly Investments

There are many different types of tax efficient investments which you can take advantage of in the UK. These include:

• Individual Savings Account (ISA)
• Venture Capital Trust (VCT)
• Enterprise Investment Scheme (EIS)
• Pensions

The benefits of each type of investment will depend on why it is that you have chosen to save. If, for example, you are investing for your retirement age, then using a pension can be a very good idea. Pension contributions are all tax free, and tax only comes into play when your pension is converted into income.

If, however, you are saving for a specific purpose which will require your having access to your money in the next few years, you may wish to consider the benefits of an ISA. ISAs are great for anyone wishing to save for 2, 3 or 4 years, and give you the opportunity to invest up to approximately £11,500 per year, tax free.

Varying Your Investment Portfolio

If you’re thinking about making some tax free investments, it’s a good idea to diversify your portfolio. As with any type of saving or investment strategy, this will help to ensure that you see the best financial return.

In addition, since many tax free investment opportunities tend to have caps on the amount you can invest in any given tax year, diversifying your portfolio will allow you to make a greater overall deposit, spread over several accounts. At the end of your investment period, this money can be safely stored in a high interest account.

Beware the Risks of Investing

Investing is not always as straightforward as it seems, and there are risks involved with almost every type of investment. When building your investment portfolio, make sure to always read the small print. Some investment opportunities levy fees for early withdrawal, and others carry with them extortionate annual charges. So if you’re keen on making the most of your investments by avoiding needless tax, make sure your money doesn’t get wasted elsewhere.

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Below is an in-depth list of important things that you need to remember that make a will valid. If these points stick out to you, and do not appear to have been dealt with appropriately in the will you are challenging, then it may be worth seeking advice. If communication between relevant parties has broken down, then there is still every chance that you will be successful; when you seek legal advice, will files, medical records and other items concerning the deceased can be accessed as required.

Firstly, for a will to be valid, the testator (the person who made the will) needs to have been capable of drawing up a valid will at the time it was made. That all sounds obvious, but to be capable of making a valid will the testator must ordinarily be aged 18 or over and be of sound mind, memory and understanding. So really, a person must know and appreciate what they are doing when they make a will.

The testator must have clearly intended to dispose of his or her property, in the manner set out in the will, on his or her death. If the will has been validly executed and the testator was of sound mind when the will was made, intention is assumed.

Also to be considered is undue influence, force and fraud, where if a testator is unduly influenced or forced into making the will, a Court may set aside the will in its entirety or in part. Similarly, a Court may set aside a will or part of a will if the execution of a will was obtained by fraud or if it was forged after the person’s death.

There are numerous formalities that are typical and need to be taken into account. In the majority of cases the will must be in writing for it to be valid. It must also be signed by or on behalf of the testator, and the signature must be made or acknowledged in the presence of two witnesses simultaneously.

One must also consider Revocation, as normally a will is revoked upon the marriage of the testator or if the testator enters into a civil partnership. A will can also be revoked by a testator executing a later will or by making a written declaration declaring his or her intention to revoke the will. A will can also be revoked by a testator intentionally destroying the will. Once a will has been revoked it will no longer be valid.

There’s also a catch if inadequate provision is made in the will. You see, as a general rule a testator is entitled to leave his or her estate to whomever he or she wishes. However, if the will fails to make reasonable financial provision for certain classes of people then the Court has the power, under the Inheritance (Provision for Family and Dependants) Act 1975, to ensure that they are provided for. Good to know.

An application can be made under the Inheritance Act by the following people if they have not been adequately provided for under the terms of the will:

- A spouse or civil partner of the deceased

- A former spouse or civil partner of the deceased who has not remarried or entered into a new civil partnership

- A child of the deceased

- Any person (not being a child of the deceased) who, in the case of any marriage to which the deceased was at any time a party, was treated by the deceased as a child of the family in relation to that marriage

- Any person who immediately before the death of the deceased was being maintained, either wholly or partly, by the deceased

- Any person who lived in the same household as the deceased as the spouse of the deceased during the whole of the period of two years ending immediately before the date when the deceased died

When considering an application, the Court take into account:

- The financial resources and financial needs which the applicant has or is likely to have in the foreseeable future

- The financial resources and financial needs which any beneficiary of the estate of the deceased has or is likely to have in the foreseeable future

- Any obligations and responsibilities which the deceased had towards any applicant or towards any beneficiary of the estate of the deceased

- Any physical or mental disability of any applicant or any beneficiary of the estate of the deceased

- Any other matter, including the conduct of the applicant or any other person, which in the circumstances of the case the court may consider relevant

When considering the financial resources of an applicant or beneficiary the Court will take into account their earning capacity and when considering the financial needs of an applicant or beneficiary the Court will take into account their financial obligations and responsibilities.

In the case of claims brought by spouses and civil partners, the Court will also take into account the following matters:

- The age of the applicant and the duration of the marriage or civil partnership

- The contribution made by the applicant to the welfare of the family of the deceased, including any contribution made by looking after the home or caring for the family

- What provision the applicant might reasonably have expected to receive if on the day on which the deceased died the marriage or civil partnership, instead of being terminated by death, had been terminated by a divorce or dissolution of a civil partnership

In the case of claims brought by children, the Court will also take into account the following matters:

- The manner in which the applicant was being or in which he might expect to be educated or trained

In the case of children who are not the deceased’s children:

- Whether the deceased had assumed any responsibility for their maintenance and, if so, the extent to which and the basis upon which the deceased assumed that responsibility and the length of time for which the deceased discharged that responsibility

- Whether in assuming and discharging that responsibility the deceased did so knowing that the applicant was not his own child

- The liability of any other person to maintain the applicant

We really hope this helps! Thanks for taking the time to read, and good luck!

The post Things To Check While Validating A Will appeared first on Getting Money Wise.

Indeed, you should review your pension on a regular basis regardless of market activity, but trust that it won’t be a painstaking process, in fact, if done properly you will end up feeling a lot better in the long-run for making the checks.

A good review will mean that your pension investments are performing at their best in order to reach your personal goals, or indeed, help you discover in your own time whether you should look into investing elsewhere and making sure that your money is in the best hands possible. You deserve to relax – you’ve just got to take care of a few things first.

You will be aware that your initial plans with regard to a pension would have been based on your circumstances and aims for retirement. Obviously, you or your family’s circumstances could have changed since then. It happens!

By making sure you review your plans, it’ll become obvious as to whether or not the fund performance can readily justify the amount you pay for your fund to be maintained, and also, if the level of risk is still suitable.

If you don’t make the effort now to keep up to date with pension performances, and make the necessary adjustments that will doubtlessly be needed at some point in your lifetime, it is possible that pension funds won’t do as well as anticipated. It sounds like common sense, but you would be surprised at how many people forget to think about this.

If you are aware of market activity and the unpredictability of your pension fund, it will mean that you can move forward comfortably, making slight adjustments when necessary to ensure your fund will support your future goals.

It is important when doing your checks to be aware of your contribution level; this is to ensure you are paying in as much as you can afford. Of course, you should also ensure the level of risk taken is still suitable for your needs. We believe that approaching retirement would be a good time to think about lowering the level of risk. Other than that, it’s always important to optimise you retirement plan alongside changes in legislation; this doesn’t take long to research, but it can be really key to your pension’s health.

So, you can see that there are many reasons to get a pension review, and we hope that these points have been helpful!

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Despite this positivity, the real lift for figures was the fact that the market has now become united around an established and deeper current. Indeed, now the sterling has room to recover after suffering from the (arguably) unsubstantiated fears of a Bank of England stimulus upgrade which put many on edge. Though, the pound’s clear drop through the first quarter against its stimulus-bound counterparts does offer some weight to that fear. However, that same fear should now offer a source of relief as some movement occurs.

The Euro managed to finish the last week above 1.3000, which is interesting considering the clear and real trouble that the euro faces on a regular basis now. This past week, this trouble has been documented in the papers as well as the markets. Now, there are causes for many to be concerned, however, in slightly more upbeat news, Spain’s trouble has been minimised greatly. This is news that comes after the Bank of Spain offered a 1Q GDP assessment for a 0.5 percent contraction. Following this, their Government both downgraded growth forecasts (2013 will contract 1.3 percent instead of 0.5 percent) and lifted its deficit projections (from 4.5 to 6.3 percent this year).

While many here will agree that the aforementioned movements in Spain are notable, in terms of noteworthy recognition, it went unrewarded by reaction in the markets simply because of the high tolerance for stress that the Euro has had to endure in terms of risk in recent times.

On risks, the central bank’s meeting this coming week is top priority. Expectations of a cut have soared among economists. Also, there doesn’t seem to be the same focus on the Euro price actions, or indeed any yields. This may mean that there is some volatility to come, regardless of the meeting’s outcome. When monitoring the notes on Thursday’s central bank gathering, though, it will be worth keeping an eye out for developments in both Greece and Cyprus. Both have critical votes for continued austerity they must see come through in order to keep the stimulus moving.

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