Don’t Spend Another Minute Trying To Understand Car Title Loans

You have probably heard of car-title loans but don’t understand them. How do they work? Are the a safe financial option? Are they the best option for you? Car title loans are also known as auto title loans, pink slip loans or simply “loan title”.A car title loan is a collateral loan where the borrower used his car or truck to secure the loan. The car will have a lien placed against it and the borrower will surrender a hard copy of the title to the lender. A copy of the car key is also necessary. When the loan is repaid the keys and the title will be given back to the borrower as well as the lien being released. If the borrower defaults on the loan payment, the car will be reprocessed.A car title loan is a short term loan that carries a higher interest rate than a traditional loan. The APR can get up as high as 36% or more. The lender does not usually check the credit history of the borrower but will look at the value and condition of the car in deciding how much to loan.Being that a car title loan is considered a high risk loan for both lender and borrower, the high interest rate is assessed. Many borrowers default on this loan because they are in financial trouble to begin or were not in the position in the first place to take out the loan. This makes it even riskier for the lender.The car tile loan will only take about 15 minutes to achieve. The borrower can receive anywhere from $100 to $10,000. Because of the risk involved with some borrowers, traditional banks and credit unions may not offer these kinds of loans for many people.With that being said, borrowers are still required to have a steady source of employment and income. After this is verified the borrower’s vehicle will be appraised and inspected before any funds are received. The lender will usually give the borrower 30% to 50% of the value of the vehicle. This leaves a cushion for the lender should the borrower default on the loan and the lender need to sell the borrower’s vehicle to regain his profit.The amount of the loan depends on the car.Kelley Blue Book values are used to find the value of resale. The car that you are using for collateral must hold a certain amount of equity and be paid in full with no other liens or claims. It also needs to be fully insured.Loan repayment is usually due in full in 30 days but in the case of a borrow needing more time to repay, the lender may work out a separate payment schedule. If the borrower is unable to pay the balance of the loan at this time, he can rollover the loan and take out a new loan with more interest.This can become very costly while putting the consumer in jeopardy of getting in way over their head with loan repayment obligations.The government limits the amount of times a lender can rollover the loan so that the borrower is not in an endless cycle of debt. If the borrower defaults on this payment the car will be repossessed if the lender has clearly tried to work with borrower and isn’t getting paid back. Car title loan lenders can be found online or at a storefront location. When applying for one of these loans the borrower will need a couple forms of identification such as a government issued ID, proof of residency, proof of a free and clear title in your name, references and proof of car insurance. Just a quick note, the borrower is still able to drive the vehicle for the duration of the loan. The funds will also be available within 24 hours either by check or deposited in your bank account.

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How The Right Franchise Financing Will Successfully Solve Your Franchise Cost Challenge!

You have selected, or are selecting a Canadian franchise. You’re down to those two last seemingly minor questions – how much does the franchise cost, and what franchise financing is available! Pardon our questions, but those are hardly minor points.Franchise opportunities in Canada seem unlimited these days as the industry continues to grow and grow. A huge portion of the Canadian economy is services by franchisors and their franchisees in Canada.There is no one method that serves all you’re financing needs for your new proposed business. However several tried and true methods of financing are utilized successfully everyday in Canada; let’s explore some of those methods and hopefully provide you with tips, strategies and tactics to successfully complete you business acquisition. In most cases you will be buying, or building a franchise with your franchisor partner, in some instances you are negotiating with an existing franchisee to purchase their business. Both of these scenarios are financed differently.In the case of purchasing an existing franchise a more formulaic approach is available to you. The basic process involves negotiating a fair price around the business, validating the financial statements of the owner, and, more often than not, obtaining an appraisal of any of the hard assets and leaseholds of the business. The appraisal value is a key point in your overall financing strategy. We also caution business clients to take some time to ‘ normalize’ the financial statements of the existing business. This is what even sophisticated financial analysts do when they are looking at a merger or acquisition type scenario. The process simply involves taking a look at all the costs and expenses and eliminating those that might not be relevant as you move the new business forward.Quick example on the above: Previous owner is taking 80,000.00 out in salary; you feel you can continue with a 50k salary – that obviously allows you to put 30k of profit and cash flow back into your business assumptions. You might well want to utilize the services of a trusted, credible and experienced financial advisor who can assist you in this area if you are a non- financial type!The most common method of financing a franchise in Canada, existing or new, is a BIL.Great says our clients, now what is that?! It’s the technical name for the Canadian governments Small Business Financing program, and it provides up to 350k in financing for your business. Sounds great, right?The challenge our clients face is typically understanding the criteria of the program, how it works, what information and back up is required to process a financing, and what other types of financing might compliment this proven and popular strategy. (We have found equipment financing or leasing to be a great add on complement to the government loan strategy)Franchise financing around the franchise cost should not be viewed as coming from your franchisor, they are in the business of building their empire, not financing yours! That is a common misconception among clients.However, in the case of purchasing an existing franchise you may well want to negotiate at least a nominal (or greater if you can!) vendor take back to compliment the overall financing. It’s a great strategy that motivates you and the current franchisee to work together to continue the success of the business.Our final point and tip around franchise cost is clearly to assess what your own investment will be in the business. Typically franchise lenders are looking to get a very reasonable owner equity or down payment on the transaction, which is of course relative to the size of the business you are buying or starting.Speak to a trusted Canadian business financing advisor to ensure you have a clear strategy and a solid plan to finance your entrepreneurial vision.

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Why Consider Network Marketing As Our Home-Based Business?

We are not asking that anyone get involved in network marketing and change everything immediately. We are however, suggesting that people consider the addition of the right home-based Network Marketing business starting their journey of financial success in a different direction. Having a home-based business is not a new concept. Network Marketing is not a new concept. Having a home-based Network Marketing business is not a new concept. However, never in the history of our country has the concept been so prevalent and is fast becoming the norm rather than the exception!The reason is very simple. Our concept is providing American’s with what they want; control of their time and financial opportunities proportionate to their abilities and effort. With the right home-based Network Marketing business, one has all of the benefits and advantages of a home-based business and unlimited financial opportunity usually associated with a large traditional business.Employees and Debt
Rather than having several employees working with other employees under one roof for the benefit of someone else’s company, with Network Marketing, we have a bunch of home-based business owners, working under their own roof, networking with other home-based business owners, all working for their own companies. This concept provides an incentive and opportunity of multiplication and duplication for each home-based business owner equal to or greater than that of the owners of traditional businesses with multiple employees and locations, with out all the hassles associated with traditional businesses! It requires no debt, no employees and no complicated administrative procedures. With Network Marketing, we work with and for other people and other people work with and for us.What is Network Marketing?
When you purchase a product or service, usually over 50% of the retail cost is associated with marketing! That would be any cost associated with getting someone to buy the product plus any cost incurred once it is produced by the factory. With Network Marketing, the products are shipped directly to the consumer from the factory. Those monies normally associated with marketing are paid to several home-based Network Marketing businesses owners which had previous network marketing or internet marketing influence in the referral of the customer!Are the products less expensive?
Most customers will not buy inferior products and there is limited benefit to paying a little less for a product on the short run. Let’s assume that you sold yourself a product, ordered it from a Network Marketing company and in return the company paid you a 50% commission or rebate. In effect you’ve saved 50% on the products you purchased. That may save you a few dollars. Although saving money is important, the concept of earning money on products that we are already buying is far more exciting.The concept is to redistribute the marketing dollar!Imagine having a network of thousands of customers purchasing quality products or services each month where you receive a few dollars per month for each customer! Remember, these are products or services that we are all already buying, or should be, and this is money that is normally paid to others. In essence, the simple process of referring other customers who also refer other customers to a Network Marketing company, presents an opportunity for a redistribution of the wealth to you and I, the consumer!Traditional Marketing versus Network Marketing
A traditional company would typically have a Vice President of Marketing with several regional managers reporting directly to them. Those regional managers would recruit, hire, train and manage several area managers who, in turn, would each recruit, hire, train and manage several sales representatives. The sales representatives are then responsible for selling the company’s products or services.Plotted on a piece of paper, the shape of the traditional organization would look like a triangle or pyramid. It’s quite obvious that the higher the level the higher the pay and that there is less room at the top for advancement. It is also evident that it is mathematically impossible for each and every sales representative or employee to rise to the top regardless of how good a job they do!The Difference
First and foremost, Network Marketing is different. Each individual starts at exactly the same level – at the top of their own organization, has exactly the same opportunity as everyone else and is compensated in directly proportion to the activity or success that they have had an influence in generating. Secondly, one doesn’t need to be a sales person to reap the level of financial benefits normally associated with company owners, sales managers and marketers. Thirdly, in Network Marketing we work with, when and for whom we choose. And last but not least, different than in a traditional company, we only work for ourselves and those whose activity generates income for us! We may also choose to work with those which we are generating income for, because, in most cases, they don’t make money unless we do.How does it work?
In Network Marketing, there are customers and also independent representatives who operate as a home-based business. The customers may also be independent reps. Independent reps can earn management positions if they so desire. Different than in traditional business, each independent representative is given the opportunity and responsibility of both recruiting customers and other independent representatives. Each independent representative is owner, president, and vice-president of marketing for their own home-based network Marketing business.Network Marketing is a word of mouth business. By spreading the word, the network marketing marketer identifies others who desire to be customers and or independent representatives (home-based business owners). The independent rep helps those newly recruited independent reps build their own home based business by helping them identify other customers and independent reps who desire to own their own home based network Marketing business. In a mature organization, it is normal for there to be 50-100+ customers for each customer/independent representative that you personally refer! Through this duplication and multiplication process each home based business owner can recruit and sponsor a few customers and/or independent representatives and, as a result, generate a sizable organization of consumers and marketers.Referring
Does this sound like a foreign and awkward activity to you? How many people have you referred to your favorite restaurant or to your favorite movie. How many more have gone because the people you told enjoyed the restaurant or movie and told someone else who went? How much did you get paid? We are all already referring customers everyday! It is just that most of us don’t get paid for it.The question is not whether we refer customers, the question is whether we are getting paid for the activity!In network Marketing, customer/independent reps receive an income for “marketing” the products for the company simply by referring other customers! Normally, we receive compensation through 5 – 10 generations of this duplication activity. In addition, there are usually additional performance and leaderships bonus compensation structures! Assuming an association with the right company: Network Marketing is the one of the very few processes I know of where you will earn in network marketing relation to your ability and effort with virtually unlimited potential! Although most people are looking only for a few hundred or few thousand of supplemental monthly income, I personally know, know of, or have met a substantial number of people who earn several tens of thousands of dollars per month from their home-based network Marketing business!Choosing a Safe Business Opportunity
Once it has been determined that a home-based business is appropriate, and further determined that a home-based Network Marketing business is even more appropriate, the real difficulty is in determining which network Marketing opportunities to become involved in. Without experience in the industry, unless you’re extremely lucky, it is next to impossible to pick a winner on the first try! Unfortunately, it seems that experience in the industry is not always sufficient for the proper evaluation of a network Marketing opportunity. As is the case with traditional business, there are good opportunities and bad opportunities. As is the case with traditional business, unfortunately many people let their emotions cloud their rational judgement when it comes to evaluating a network Marketing company and/or business opportunity!Evaluation Process
There are certain criteria which must be used rationally when one does an evaluation. Technically, these could be divided into two categories: absolutely necessary characteristics and desirable characteristics. For me, the desirable characteristics are also necessary, therefore, I will not distinguish between the two and will address them in no particular order.Competent Company Management Team
Normally it is very difficult for us to know any more about the network Marketing company’s management team than what they tell us themselves. The evaluation of the management team only becomes an issue with a new company! If a company has been in business three to five years with a well documented and stable growth record, we really don’t need to waste our time. New network Marketing companies are starting up at a higher rate than ever before. It seems that every person who has ever been successful at network Marketing wants their own company. Surprise, running a network Marketing company is traditional business and new network Marketing companies fail at near the same rate as traditional businesses!Age of the CompanyThe most common mistake made by the masses is getting emotionally tied up in the “ground floor opportunity” pitch which caters to our “greed” and the “fear of loss”! If a person is determined to get involved with a new network Marketing company, they should do so because they understand totally the market for the product(s) and the experience of the management team. Being on the ground floor is usually not best because a majority of new companies will fail. Even if the new company does succeed, there will be many adjustments and changes during the initial growth and there usually is a lack of proven marketing procedures, materials, and training support. The attrition rate is usually much higher during those first years because most individuals are not emotionally flexible enough to accept the changes and turmoil. A network Marketing company experiences four basic phases of growth and market penetration. The risk of the company failing during phase one (usually first 3-5 years) is 10-20 time greater than in phase two. Contrary to popular belief, it usually is far better to be involved with a network Marketing company after they’re entered phase two. The risk of their failure is negligible. Their success indicates that their products are acceptable and that their marketing procedures and materials work! Then, either fortunately or unfortunately, our success depends only on ourselves!Remember, the Vehicle must never be the limiting element in our success!No Major investment
With the right network Marketing opportunity, one should be able to start their own home-based business for hundreds of dollars, rather than the normal thousands, tens of thousands, or hundreds of thousands of dollars usually associated with other traditional businesses which have any serious financial potential!No Inventory, No Receivables, and No Collections
I will not spend time on these. If you have ever experienced them as an owner, they need no explanation.No Employees
Employees require a tremendous obligation from the business owner; mentally, emotionally and financially. With network Marketing, other independent distributors in our organization, while working their own home-based business, supply the same benefit to us as employees would to a traditional business. We have no payroll, no benefit overhead, no space requirement, and no management duties other than a moral obligation to help others in their business just as others will help us.Residual Income – Persistency
Unless you have been a successful network marketer, insurance agent or marketer, author or actor, it is really difficult to understand the tremendous benefit of residual income.Starting on a part- time basis, a sincere person or couple with desire and persistence can, within a three-to- five year period, build a meaningful residual income to last a lifetime and then some.Building a residual income is a little like flying a big jet. It takes a significant amount of fuel to get it off the ground, but once it has reached altitude, it can throttle back and fly on a fraction of the fuel needed for takeoffs. The big difference is that a residual income can “fly” seemingly forever with a little refueling along the way. The income stream can be passed from generation to generation.All the other benefits of network Marketing, such as control, opportunity, and flexibility are important, but Residual Income is the essence of network Marketing!Experience has taught me that many more people propose to have Desire and Persistence than actually demonstrate it. The purpose for this communique is to identify Individuals who sincerely want more Success in their life but don’t seem to have the right Vehicle for their journey. If you are one of the few, then I invite you to investigate a home-based network Marketing business opportunity which would allow me to work with you and for you, in order that we both achieve our Success goals. If any of this makes any sense to you and you would like more information, use if for your success. If you would like a bio on my experience and qualifications, just ask. Thank you for your time, your most valuable asset!

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