Auto finance

Fast car on open roads. It is a perfect picture for any car enthusiast. But you have to go to your work and also drop your kids to school. This is the real picture for most of us. We need to save time when we don’t have any. A typical individual has so many odd jobs to complete that a car can, without doubt, facilitate their accomplishment. Financing your car doesn’t fit your idea of the way of buying your car; then probably you are still stuck with traditional car buying methods. Shed your inhibitions with regard for car financing because it undoubtedly keeps in mind your financial caliber before furnishing you with a car finance loan.

Car financing has taken a new spin with regard to providing investment for buying a car. So, how do you finance a car? If this question leaves you baffled, then you have to go a long way in the process of buying a car. The term ‘financing’ in relation to buying a car connotes either rendering loan to buy the car or lease the car to you. You are probably concentrating on the former meaning. Many people are in favour of talking car finance from dealership for it seems like a convenient option. It seems easy; you select a car, fill out a credit application, and drive away with your car – all in a day’s work. Car finance through dealership will give you car finance on weekends and even at nights when other banks and credit unions are closed.

Seems convenient, isn’t it? But there is a catch. The dealer will be certainly charging you more for your car finance. Usually car buyers are overcharged by 3% on their car finance. A great number of complaints about car financing are related to dealers. 0% APR is not only attractive but lures the buyers to acquire up car finance not meditating if it is feasible for them. There are very few people who can actually get a 0% APR. Thus car finance deals usually fall midway thereby making car finance experience an extremely distressing one. You are buying a new car and probably for the first time, you certainly want it to compliment your enthusiasm. There are few elementary things that need to be kept in mind before taking that crucial primeval step in car buying.

First and foremost in car buying and financing is checking your credit score before you apply for a car loan. Many people are unaware of the fact that they even have a credit score. You can expediently check your credit score online. So, if you have bad credit history then probably you will be paying more interest rate for your car finance. If your credit score drops below 550, then probably apply for new car finance is not such a good idea. First repair you credit score. Repairing credit score requires little effort, helps you repay your debt and retain your credit report. Online car finance companies can get you car finance loan even if your credit score is lower than required. Your car finance loan can get approved in minutes. Online car finance companies have revolutionized car finance procedure. With lowest online car finance rates, no application fees, or down payments car finance companies provide a formidable competition to car dealers. Car finance companies have set a standard for providing car finance that is worth opting for.

70% of cars are obtained by some kind of financing. You can even finance a used car. The process is as effortless and undemanding as financing a new car. The essence to finding the right car finance is doing to research about your kind of car. Knowledge is power; you must be awake to this age old logic. When so much information frequently exists, then why not make use of it. Find out how much your car costs by comparing rates with local dealers. Very decisive, is cognizing how much, you can afford. Calculate, you monthly income and deduct your usual monthly expenditure to find out how much you can afford on a monthly basis. Compute carefully, otherwise you will find difficulty in repaying your car finance loan. And you definitely don’t want to fool around with your repayment plan because a lot is at stake. You can seek free advice for your own car finance online through credit unions and loan institutions.

You are a car enthusiast, a car consumer, a just a person who needs a car you ought to drive the best car. And why not drive the best car, when you have access to the best car finance plans. Car financing is a transparent route that leads you to become a car owner. Car finance loans are usually short term loans ranging from 36 to 72 months. Shorter loan term imply, lower interest rates and will prove to be cheaper. You have been working hard to select the car you want; there is a fairly good chance that you would not have to work so hard for car finance. So, sit back relax and enjoy the ride.

Sources of business finance can be studied under the following heads:

(1) Short Term Finance:

Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.

Sources of short term finance are as follows:

(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.

(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.

(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.

(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.

(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.

(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.

(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.

(2) Medium Term Finance:

This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:

(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.

(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.

(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.

(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.

(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.

(3) Long Term Finance:

Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:

(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.

(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.

(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.

(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.

(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.

Conclusion:

These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.

The “Man up!” mindset forces men to suppress their emotions, and society actively encourages it. A number of my male friends have recently confessed to suffering from this, which led me to the idea of making an app in which artificial intelligence recognizes emotions and teaches how to work with them, making men stronger, more resilient, and conscious.

Problem

Men have been taught throughout their lives that displaying emotions is a sign of weakness. It is the way almost every traditional culture is set up. As a result, we men stop paying attention to our feelings, understanding and respecting them, which can lead to breakdowns endangering ourselves and those around us.

Warning! The text below contains references to suicide, burnout, panic attacks, and depression; names have been changed.

Story

One day James Evans, my colleague, turned to the team lead and said: “I have to leave right now, or someone will get hurt.” He called his ex-wife and asked her to come to the clinic with him. He was having a severe breakdown.

James had never been aggressive or particularly hot-tempered, but for several years he had felt an inexplicable inner discomfort. He was overcome by anxiety, had split up with his wife, and began to drink heavily. To cope with the pressure, he invented household rituals: he would always turn the key in the door lock a certain number of times and leave the mixer handle at a particular angle. But the relief from the rituals was temporary. And when panic seized James again, he felt like he was on the verge of death from a heart attack. It happened every time.

The specialists and the well-chosen medications helped James. Very soon, his work, relationships, and everyday life began to bring him joy again.

But why did James let the situation get this far before seeking help? And why do other people, especially men, try to ignore the burden of their emotions and continue to “man up”? And why don’t they just admit to themselves that they feel bad? These questions are keeping me on my toes.

James’ case is probably the most serious of all my acquaintances, but it is not the only one. Since childhood, we have been taught that “emotionality” is usually associated with women and “rationality” with men. And the entire structure of our society is built around this role model.

Social factor

Over the years, men get used to disguising their feelings to such an extent that they often cannot even understand how they are feeling right now. A lack of intense emotions and their excess often lead to reduced overall satisfaction with life, which is more dangerous than it seems at first glance. MHF researchers found that men are three times more likely to commit suicide than women.

A question therefore arises, “What should a man pressured by society with its “toxic masculinity” do to re-learn how to treat and manage his emotions properly?”

Solution

I want to create an app capable of measuring the instantaneous amplitude of emotional fluctuations. This app will help to understand the feelings we are experiencing and teach us how to balance our emotional state through helpful activities: journal writing, mini-concentration games, or breathing practices.

Outcome

The most critical thing for me today is to get your feedback. Please share in the comments how big of an issue this is for you or your loved ones; what essential points I’ve overlooked; would you like to participate in a closed beta test or interview?

Audience insights

I like to talk to the first users and like-minded people in person — ask open-ended questions and listen to what really matters to them:

“I want to be a better father and husband.”

“I want people to feel better when they are with me. I take care of myself for others.”

“I want to regain the energy and desire to be useful in my work.”

The topic of mental equilibrium is quite personal, and you don’t always want to talk about it publicly. So as not to impede the process, I decided to do an anonymous survey for 15–20 minutes. It would help me a lot if you took it right now:

Practicing a little bit but every day

I used to make an online fitness app with my team before. We used small steps, daily goals, and regular rewards to engage the users in a cycle of habit formation — to start exercising, to love it, and not to quit. Yet, even on days when the users did not exercise, we asked them short questions about their mood, appetite, physical sensations, energy, and stress levels. Therapists recommend a similar “mood diary” to their clients to identify depression syndromes.

Even just stopping for 30 seconds and looking at yourself from the outside can be helpful — asking yourself what you are doing, thinking, and feeling right now.

I decided to make an app that would instill in users a small but very useful habit — to monitor their emotional state regularly and, if necessary, to help balance unwanted outbursts and mood swings. A neural network will be responsible for the objective recognition of emotions from video, with recognition accuracy that differs from a live expert by only 3–4%. If the system detects any signs of unbalance or other disturbing patterns, it will offer the user one of the five-minute sessions: journaling and giving a rational explanation for each of the situations that caused the outburst; 10 breathing practices to choose from; a mini-game to increase concentration.

The more “emotion measurements” the users take, the better the system will adjust to them, and the more accurate the weekly analytical summaries will become. It will be easy to see what tangible changes have taken place, what needs more attention, and what the next goal is, almost like in a game.

Emotion tracker in a manly package?

The apps in the Mental Wellbeing category generally look like something exclusively for girls. Soft colors, birds, flowers, and meditating characters with their eyes closed. These applications can be very helpful, but a man, influenced by “toxic masculinity,” would not believe a product with such visual solutions. He would think, “This one’s not made for me.”

I will do things differently. The design will be more clean, confident, and empowering, with a futuristic and slightly mysterious aesthetic. No pink, blue or purple tones. “To lower the barrier of entry, you have to give the user something that engages at first glance, something they want to be a part of.”

Finally, the big goal

I want my app to be an entry point for men who want to work on their emotional balance but don’t know where to start. Someday they will become experts at it themselves, and I want them to always have a tool at hand when things get especially tough.

Perhaps some of my users will be motivated by the data visualization and recommendations of artificial intelligence to book their first session with a psychotherapist.

And at the end of the day, if we can keep at least one person from doing something rash, irreversible and terrible, it will be a significant contribution to the world’s mental well-being.