Need To Raise Some Cash – Check Out A Log Book Loan – Refinance Your Car To Get A Low Rate Loan

If you are buying a new car you need to think about what you need from it. It’s all too easy to think the new Audi convertible looks great, but will you fit your kids in? Where will the car seat go? Will you fit your weekly shop in the boot?

Thorough research is always the key when making a financial decision, and car finance – whether it is a lease purchase, car refinance or personal contract purchase (PCP) is no different. Look on the internet for advice guides, check out the latest book prices of cars, and look at forums where owners of the Audi or BMW you want discuss their experiences.

Its a bit like renting a place, but you have the option to buy at the end. This is a great option if you need to be seen with the right car, need to have a car for work but are not going to start making the big bucks until a few years time this option allows you to have the flashy car but not having to pay a huge loan back until you are earning more money. With car hire purchase, or lease purchase it allows all the freedom in the world.

You should also look for information about their processes. The process in which you will go through and how much money or time or effort you will need to go through before you actually get the quote. An application process should be very simple and should not require intrusive or excessive amounts of information at the initial stage just some basic information about yourself and the car you are buying or refinancing.

If you are in the position of already having found the car you are looking for, say through a dealer, on the web or your local newspaper or dedicated car selling magazine you should look around for a competitive finance deal to save you money in the long run.

Stick to your budget! If petrol prices rise, will you still be able to run the car? What about other expenditure rises? It is always sensible to make sure that you are protected should your circumstances change too.

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What You Need To Know About Equipment Lease Rates And Interest Finance Charges In Canadian Lease Fin

Although the Canadian equipment finance industry is very competitive many Canadian business owners and financial mangers don’t fully understand how equipment lease rates and interest finance charges are calculated… how they can be managed, and what issues affect your ultimate monthly pricing. Let’s examine some ‘ need to know ‘points that will allow you to fully maximize the benefits of lease financing assets in Canada.

We don’t blame clients for always wanting ‘ the best deal ‘… the ‘ lowest rate ‘… the ‘ smallest monthly payment ‘. Some of the variables that go into those issues are controlled by the lessor; some can easily be managed by you.

Asset quality is often a factor in Canadian lease finance. The ability of either yourself of the lessor to understand the ongoing value and the final residual value of the asset you are financing plays a key role in equipment finance pricing in the Canadian marketplace. A win win situation exists of course when both you and the lessor have a transaction that meets both of your needs.

Lessors refer to their profit on a transaction as their ‘ yield ‘. Many lease finance firms strive to earn a certain constant yield on their lease transaction they finance for Canadian business. It’s simply their ultimate profit for putting funds out on your transaction.

Canadian business mangers choose from only two basic lease types when acquiring and asset via a lease finance strategy. Its as simple as that, you are either selecting a capital lease, which is a ‘ lease to own ‘ strategy, or alternatively you are choosing and operating lease .The operating lease is a transaction wherein you have a stated intention to return or upgrade the asset during or at the end of the lease term . The true beauty of the operating lease is that it also gives you still the right to purchase the asset, even though that might not have been your original intention.

Put yourself in the eyes of the lease company, and let’s use a simple example of a 1000.00 transaction. If the final residua value of the asset at the end of the term of the operating lease is 100.00 and the lease firm estimated this as , lets say 50.00 then they have just realized a further 50.00 profit on the asset .

So who is the best to understand the actual true value of the lease at the end of the term? Quite frankly, sometimes its you, who understand your business only too well. Alternatively many lease equipment finance firms have significant expertise also. It depends,

The type of lease company you choose to work with also has a significant effect on your interest finance charges. Bottom line, your lease firms borrow funds also. In Canada that’s typically done through insurance companies and banks. So a general rule of thumb is that if your lease finance firm is larger, well funded, and well managed… the bottom line is that your chances of more aggressive lease rates increases.

We hate calling them ‘ games ‘ but the industry uses many nuances in pricing and structure and terms that significantly affect your overall finance charges . What are some of these?

A good example is advance payments you are asked to make, or security deposits. If you are asked me make a significant security deposit ensure interest accrues to your security deposit, at a rate commensurate with the size of the deposit.

Many assets are acquired on an interim rent basis… that has the lessor outlaying cash before you actually sign off on the final acceptance of the asset. It could be a complicated computer project that is being funded, or perhaps a production asset that is being assembled by your vendor in stages.

We’ve highlighted just a few of the basic issues that should come into consideration by your firm when you are concerned about getting those ‘ best ‘ equpment lease rates’ in the Canadian marketplace . There are others.

If there is a bottom line here it simply that it’s worth it to take some time and understand how some up front knowledge and consideration at the start of your lease finance process can positively impact interest finance charges in your favor as the lessee. Speak to a trusted, credible and experienced Canadian business financing advisor who can guide you to the appropriate lease finance pricing for your ongoing equipment needs.

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Understand Your Asset Finance Options. Leasing Versus Buying And Capital Vs. Operating .it’s Your C

Leasing versus buying. It’s one of the classic questions faced by business owners and financial managers when they are looking for asset financing strategies that make sense in capital acquisition of business assets.

Let’s examine how you as a business owner or finance manager can make the right decisions when you are at the proverbial fork in the road, the classic ‘ lease vs. buy ‘ scenario.

Part of the reason we’re intrigued by this subject is simply the fact that there is so much misinformation around there, in some cases it’s just an issue of not knowing what questions to ask.

Your firms ability to invest in new equipment whether its plant or office assets, or even telecom and computing needs typically brings you to the decision point to lease versus buy. You know that with these new assets your firm can most often become more productive and profitable.

The reality is, we think, is that it’s as important a decision on buying and financing those assets as it probably was as to which asset to purchase, from which vendor, and at what price.

Your ability to match the right amount of financing capital with the use and term of the asset should be key to your decision.

The term lease itself, as simple as it might seem, is actually part of the confusion around the leasing versus buying decision. Many business owners think that there is always an ultimate obligation to return the asset at the end of the lease term – similar to the consumer leasing an auto. That is categorically not the case.

In reality you have the basic choice of entering into two types of leases in the Canadian business leasing industry – a capital lease or an operating lease. The capital lease is a basic lease to own scenario, no obligations there. Other than to make your payments! The operating lease gives you the right to return the asset if you choose, but it is not an obligation, it’s actually one of three choices you have under the operating ‘ fair market value ‘ lease. You can return, extend, or buy the asset.

The beauty of the operating lease is that it gives you all sorts of flexibility, has a lower monthly payment, and puts you in charge of the final asset several years down the road at the end of the lease term. This type of lease is perfectly suited for telecom and computing assets.

Many business owners and finance manager are often confused about their dealings with lease companies. We can commiserate with that , because its a question of which firm to deal with, what are their credit policies, which assets do they prefer or not prefer to finance, and are they easy to do business with when it comes to documentation and ongoing correspondence and relations during the term of the lease .

It’s at this time when it might be best to focus on working with an expert who already has the knowledge and relations within the industry to best serve representing your needs.

We continually encourage clients to view a lease financing and asset finance company in the context of developing a long term relationship. The right type of firm will actually help you put together one Master lease and set up a lease line of credit, allowing you to quickly and efficiently add on assets at any time with minimum work. Bottom line, it’s not complex.

The key benefits of leasing, versus buying always stay the same. There are tax advantages, preservation of capital, and minimum down payments and certainly usually no outside collateral required. The asset being financed is the collateral!

Speak to a trusted, credible and experienced Canadian business financing advisor on the asset finance capital strategy that works best for your firm – and trust us, its not as complicated as you think!

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Making Sound Choices With Your Leasing Finance Company? Canadian Operating And Capital Lease Solut

The right leasing finance company. Sounds like a simple choice, right? But the reality is that when it comes to selecting the right capital and operating lease solutions for your firm can you really say you feel 100% prepared.

Abe Maslow was a famous U.S. professor, widely published and studied. He once wrote ‘ when the only tool you have is a hammer every problem resembles a nail’! No pun intended, but talk about hitting it on the head ! Most Canadian business owners and financial managers know they need a finance solution ; they know lease finance works, but quite often are very unclear on some basic selection criteria you need to have under your business belt when it comes to signing on the dotted line.

There are several major categories of leases and one, probably not all, is the right one for any particular equipment financing you enters into. When you win at the asset finance game you no doubt have one step on your competition. So it’s a question of knowing which benefits might accrue most logically to your firm.

Unlike the U.S. where things are a bit more complex, the leasing finance company in Canada has two major products, the lease to own solution, aka ‘ capital ‘, and the lease to use option, aka ‘ operating ‘. The operating lease is also often referred to as a fair market value lease or ‘true lease’ , and we hasten to add the capital lease is also known as a finance lease .

Each of these two products exists to serve some basic needs of your company. A key point that is often overlooked by the lessee is the fact that either of these two leases can in effect be ‘ bundled ‘ to include other of your supplier’s deliverables, including shipping, installation, warranty, maintenance, etc.

Although an operating lease could in fact include a bundled component more logically that is undertaken for clients who wish the lease to use, or capital lease option. In an operating lease these items would be fully priced out, and would probably increase the total ‘ all in ‘ rate you are paying.

The world of operating leases is diminishing a bit with the inception of new standardized accounting rules that are coming into effect on a global basis. Although many of the benefits of leasing in general come together in both capital and operating leases the whole operating lease scenario becomes a bit more of an accounting exercise .

In an operating lease there is no interest per se – that might seem confusing to many. But the lease is structured as a payment only scenario, with your choices, or obligations being the ability to return, upgrde, or purchase at the end of term fair market value.

You will not always see, or get clear explanations from a leasing finance company on the type of lease, capital or operating, that you are entering into .That because the Canadian marketplace has lessors with either small, mid, or large ticket focuses. It’s up to you to know who is offering what, what they are calling it, and if things are as they appear and promised.

Speak to a trusted, credible and experienced Canadian equipment financing advisor who can assist you in separating the promise and the deliverable for your firms benefit.

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Recognize These Business Finance Problems And Financing Challenges?

Business finance problems. Got the ability to spot financing challenges when it comes to the immediate and longer term issues that face your firm in the Canadian business environment? We have always felt that some positive proactive techniques and information can go a long way to your health… and that’s better business health we’re talking about by the way!

It’s easy for an outsider to revert to the textbooks on this one, and larger corporations have access to all sorts of advisory advice. The business owners and managers of small and medium sized corporations in Canada have the tools; they just need to know how to use them. Technically speaking, (and we promise to try and not do a lot of that,) its just understanding your financial and operating leverage.

In reality by using basic and time tested tools you’re in effect creating an early warning system around business finance problems and financing challenges you are facing now or down the road. And the goal is pretty clear, don’t you think – it’s about ensuring you can fulfill your financing and contract obligations while at the same time growing and profiting.

A lot of finance problems revolve around your favorite entity, your customer. It’s therefore prudent at all times to understand the financial health of your customer. This can be accomplished in a number of ways – if you don’t think major corporations ask for their clients financial statements… well you’re simply wrong. The small and medium sized corporation can utilize various tools to monitor customer financial health; even monitoring payment habits over time is a great tool, allowing you to spot deterioration.

It goes without saying you have to be open to realizing what some of your current financing challenges are – Thats often tough for the business owner to admit because most entrepreneurs we meet are optimistic, sometimes excessively so, which is of course a double edged sword.

Can you balance sheet actually predict failure? A lot of history tells us it can… and there’s some pretty basic stuff here. Things like knowing the real value of your assets, not the book values when it comes to negotiating with Tier 1 or Tier 2 lenders. While cash and receivables are the two most liquid parts of your balance sheet even those receivables might misrepresent a true value in your firm if they are uncollectible, or uncollectible in a timely fashion.

While it may seem unappealing to spent to much time analyzing your financial health just some very basic ratios ( we’ve always called them relationships ) in 4 areas – liquidity, leverage, activity, and profit will give you a great total view of your firms current or upcoming challenges .

In Canada your firm has access to traditional financing via Canada’s chartered banks, but those financing challenges that seem ‘ unfixable’ can be address by a broad number of business finance solutions from non bank lenders – they include asset based lines of credit , government business loans, monetization of receivables and inventory separately or combined, supply chain finance, and tax credit monetization.

Bottom line … invest some time in some analysis and basic tracking tools, and consider speaking to a trusted, credible and experienced Canadian business financing advisor on solutions to business finance problems.

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Six reasons you aren’t reaching your productivity potential

With productivity levels dropping to their lowest in the UK since the 2008 recession, employers need to work out what productivity means to them. Research by PageGroup, revealed only 55% of UK office workers surveyed fully understood what productivity actually means.

Whatever your industry, understanding what it means to you as an employer or employee, andhow to improve and increase productivity, is the key to reaching full potential.

So, where do you start? Here are six reasons why you haven’t yet unlocked the productivity formula, and productivity tools to help you get there:

  1. Admin overload?
    Daily admin tasks like emails, meetings, and day-to-day project management eat into work time. When asked for a breakdown of their typical working day, UK office workers said they spent 34% of their time on email or the phone, and 29% meeting deadlines and in meetings.

    Prioritise project work ahead of admin
    Communicate with management for advice about workload and responsibilities. Set aside time each day/week to tackle admin – and stick to it.

  2. Feeling the pressure?
    Of the British office workers surveyed, 69% felt pressure from bosses to be more productive. Yet, if we’re failing to define why productivity is importantor how productivity is measured, how can we ease this pressure on employees?

    Don’t underestimate the power of communication
    Instead of self-analysing, work with management to map out goals, align expectations and prioritise deadlines. Services may be available to you through your employer such as anonymous telephone counselling services if you are feeling stressed.

  3. Too many distractions?
    Loud music, working from home, emails and notifications… an environment centred on being online is full of potential distractions. A huge 78% of PageGroup’s survey respondents, admitted to wanting to be more productive than they are.

    Write a list of how longtypical tasks take
    Be mindful of these time frames when taking on work and managing deadlines. To improve concentration, find a quiet room or put headphones in, and try turning off Microsoft Outlook and other notifications.

  4. Drowning in data?
    Data is useful when the right questions are asked. Analytics is intrinsic to success in marketing, sales, finance, technology jobs and more. But if actions aren’t taken from data findings, you’re just staring at a set of numbers.

    Utilise digital tools to organise data
    Whether that’s advanced Microsoft Excel or using expert SEO services to capture data, suggest a strategy and generate leads. Of the UK office workers surveyed, 72% believed access to new technology would improve their

  5. Lack of work-life balance?
    Separate work and life outside of work as clearly as you can. An understanding between employer and employee about expectations e.g. to be online between 9AM and 5PM should be clear from the start. When asked whether they work outside of office hours, 92% of men and 79% of female UK office workers surveyed said yes.

    Set some ground rules
    Limit time spent on work outside of office hours, and if you’re working from home stick to a schedule like you would in the office. Relax, exercise and socialise to re-energise your brain and body.

  6. Too few tools?
    When asked what would boost their productivity, 65% of UK office workers surveyed believed training and online tools would make a difference.

    Do your research
    Enquire about training opportunities available at work, internally or externally, and make suggestions to management if there aren’t any.Find outwhatonline tools and technologies are out there, that are relevant to your industry, and could cut time spent on certain tasks and, increase productivity.


The never-ending cycle of admin, projects, deadlines, ideas generation, meetings and more can be streamlined with the right processes, technology and communication in place to tackle everyday time consuming tasks and in turn, make us all more productive at work.

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Personal Finance Basics – Do You Check Your Credit Score Regularly?

Did you know that the credit companies can make mistakes? Sometimes you can be refused credit because of a bad credit score that is just plain wrong. Somehow or other they have the wrong information about your credit history and this is being passed throughout the industry. It could be a mistake on their part or a misunderstanding but it really does not matter at the moment because it is there and is affecting you. Your personal finance basics knowledge should have a default position, which is to check your score regularly.

Checking your score regularly will also let you know if your financial activities are affecting your score. In either case you should check out any instance of your score lowering. Checking your score regularly enables you to deal with any problems as they start to appear and not when they affect your finances.

People have different ideas about how often you should check your score. It depends on your circumstances and whether or not your finances are changing. But, as a minimum, I recommend you check your score at least annually. The vast majority of people do not do this.

The main bureaus operate independently so some could have different information than others. If you check your score regularly you could find misleading or false information about you that could affect your ability to borrow money when you need it. Now you need to check this out and get it dealt with before it becomes a bigger concern.

Most of the time, any discrepancy will be a mistake on their part. Communicating with the bureau concerned and talking to them about it can correct this.

Unfortunately, sometimes an ‘error’ you find could be identity theft. Here it is imperative you contact all the bureaus concerned and the fraud squad immediately.

An alert will be placed on your file, which lets anyone checking your score know you have been a fraud victim. This alert will also inform you when lenders are looking at your files. If you are not requiring any financial transactions then it could be the identity thief is trying to obtain a loan in your name.

An alert will usually last between 90 to 180 days. But you can get this extended if you request it. With the alert in place a lender can tell that the person trying to obtain the loan is not you and will decline it.

If you do not regularly check out your credit score you are placing yourself at risk. Your personal finance basics knowledge should be used to remove this risk.

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Electricity Saving Tips – Personal Finance Basics

Don’t Let Your Electric Bill Zap Your Budget

This post will focus on your electric bill. Electricity can be one of the biggest expenses that you will discover as a home owner. Here are a couple of tips that will help you be more energy efficient in your home. I will go over the personal finance basics regarding one of your larger utility bills. Hydro bills can be very high in the summer, with air conditioners raging. If you’re in the north and use baseboard heaters, you will discover that hydro bills skyrocket in the winter as well. Here’s 3 tips to help reduce your hydro bill.

Are You Using that Computer? – I work at a place where the computers are always on. They don’t even get turned off on the weekends. A little research in personal finance basics will reveal that a computer uses as much electricity per hour than a 14 watt compact fluorescent lamp for a full day. My work’s last hydro bill was $700 for one month. They could lower their expenses by at least 27% by switching the computers off for evenings and weekends.

Is Your Home Energy Efficient? – Easy tasks like putting a plastic heat barrier on your windows in the winter can significantly lower heat waste, and for goodness’ sake, keep your door shut. Ever heard your parents say “I’m not paying to heat the outside?” Sounds like they understood a common sense thought to personal finance basics. find other ways to make your home more energy efficient. You’ll not only leave less of an environmental footprint, but you’ll save tons on hydro.

Sometimes I Swear We Live in the North Pole – When you are looking to further your practical skills in personal finance basics one way is to look at how much energy your air conditioner consumes and reduce it if you can. For instance, try to use a fan instead of the air conditioner. Another excellent way to reduce consumption is by setting the thermostat up by 2 degrees. With heating for example, if you lower the heat by 2 degrees you can reduce the home heating costs by 5%.

I hope you’ve found these tips useful. I’ll mention it again, that as a financial consultant I teach a lot of personal finance basics to people looking to reduce living expenses. It’s important to maintain a comprehensive budget so you know where your living expenses are and to motivate you on ways to reduce those costs. If you haven’t searched Google for budget tools yet, you can now, or try the one in our resource link. See you in Part – 4.

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Emergency Fund Accounts – Personal Finance Basics

As a financial consultant and I have coached a lot people as to why emergency funds are critical. In an earlier post you learned crucial personal finance basics with regards to creating an emergency fund like budgeting, goal setting and automation. Today I’ll discuss a few quick tips to help you pick where to invest your emergency fund.

Convenience – If you are like lots of people, you want to make saving into an emergency fund as fluent and simple as you can. Coaching personal finance basics has also shown me that if it’s not easy, chances are it won’t get done. You likely have a checking account. If so, you probably have a savings account in place too, if not you could open one with your bank on the Internet or at your branch. I recommend using this account to park your emergency funds. Chances are the interest rates aren’t great, but it’s an a simple account you probably have, or you could set up in a jiffy.

High Interest Savings – You shouldn’t worry too much about the interest rate you get with your emergency fund as it’s considered a short-term investment. A personal finance basics way of thinking is that you’ll probably use the fund within the next five to seven years, it’s short-term. ING is avery popular savings vehicle, as is PC in Canada. There are plenty of high interest savings accounts available to create online, just be careful of their fees, terms and conditions and legitimacy. Money market funds is one other choice, and can even provide higher interest than savings accounts, but they aren’t guaranteed. I have personally used ING for my emergency fund and think its excellent.

Liquidity – How quick can I get my money? Another important factor you need to think about is how accessible are your emergency funds. The simple rule with this is that it should be available by less than five days at the very most. You should try to get a fund that could pay out your money within 24 hours of when you need it. The personal finance basics question to ask yourself with this when choosing an account is “Can I get the money when I need it?”

I hope these personal finance basics regarding convenience, high interest savings and liquidity will help you make your emergency find into a reality. Check our resource link for free budget spreadsheets and other financial calculators to give you the head start you may need. We go more in depth in our e-book as well. The best tip I can give is to get it started. Even if you only got a 0% rate of return, you will still have money tucked away for those unexpected expenses that you wouldn’t have otherwise.

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How to Choose a Car Finance Broker – Some Useful Tips

Financing a car is a very important process and today with the availability of numerous car finance brokers it has become an easy option to get secure car loans. Today these car finance brokers are also playing a vital role in assisting car buyers. In fact, consulting and taking help of car broker can definitely be most appropriate option if you don’t have any clue about what to look at according to your budget. A finance broker is the most experienced personnel and clued-up on how to approach the financiers in a way that can persuade them to approve the loan. They usually have good relations and reputation with the lenders as being reliable, and so they know which lenders are likely to be open to a client.

In general, they act as the key source and offer services such as finding a used or brand new car model that the customer wants and within a budget range. At times, these car brokers even assist car buyers in negotiating with a used car seller. However, these days there are many car finance services and making a proper selection is turning out to be a very complicated process. You need to understand that not all car finance services are fair. Therefore, if you are looking to finance a car or choose a car financing service then here are a few important points that you should keep in mind while making a selection:


You must confirm whether your car finance consultant or broker is a member of FBAA or COSL or both of these industry associations. While Finance Brokers’ Association of Australia Ltd. (FBAA) is one of Australia’s leading membership bodies for finance broking professionals, the Credit Ombudsman Service Limited (COSL) is an independent organisation that is mainly indulged in handling complaints about finance brokers. You can easily confirm finance consultant’s membership by searching through their member list. Adding to this, WA Finance Broker License is yet another additional requirement for finance brokers serving in Western Australia. Nevertheless, if you are looking for finance broker and residing in the state of WA or other states of Australia, it is essential that the broker must hold a WA Finance Broker License. A broker holding WA Finance Broker License entails passing a comprehensive range of checks, educational requirements and operational requirements.


While selecting a car finance broker also ensure you know about their range of lender accreditations. The range of accreditations held by a broker governs the range of options they can offer. You must note that a broker’s accreditation can not just change the range of finance options available to you, but it may even affect the quality of those options.

Experienced Staff

You must choose car finance service that recruits and retains professional and knowledgeable staff. The broker must be an experienced professional who can demonstrate and explain about why a particular product is highly recommended or even suites your specific circumstance. If possible make sure you even ask for testimonials from previous clients that in turn may help you in the confirmation of their experience.

Services Offered

As mentioned earlier, today there are many finance services available in the market. Therefore, you must find out more about any extra service that a broker can provide. You should expect your finance consultant to supply detailed information about timeframes, and any fees or extra charges related with your finance. The key point is if a broker is being able to clarify the comparison rate of your recommended vehicle finance and the overall cost of your finance package then it is quality sign of a good finance broker.

These are some important points that can help you in choosing your car finance services easily. Today a lot of responsibility goes along with buying a car and taking financial help through car broker. Just taking care of few essential steps can help you select your car broker and further purchase a nice new or used car.

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