Posts Tagged ‘Loans’
Car loans versus traditional car financers
Author: admin
Car Financing
YFM Group deal with Tygan
Pic by Jay Williams 07770 576076
Pic shows the Tygan Speedster, built in Beaminster, Dorset.
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Tygan Motor Company, which produces replicas of celebrated Porsche sports cars of the 1950s, has secured finance from the YFM Group-managed South West Ventures Fund. The investment will be used to expand the company’s sales and marketing operation, to increase R&D to meet new European regulations and to increase stock.
The Tygan marque was launched at the prestigious Goodwood Festival of Speed last year with the Speedster 356 and was given the seal of approval by Porsche itself. The Beaminster based business has a growing order book and is on track to meet sales targets for 2008.
From 2009 Tygan will be offering a second model, the 550 Spyder, derived from the famous racing Porsche that competed in the Le Mans 24 Hours and the Mille Miglia.
Both designs are based on the running gear of the original Volkswagen Beetle. Tygan engineers use an original VW body shell for donor parts, including the chassis which is shortened, shot-blasted and refinished to accept new VW Beetle parts, including the engine, gearbox and suspension.
A GRP (glass reinforced plastic) body shell, identical in shape and form to the original Porsche models, is mounted on a steel sub-chassis and fitted over the chassis. The car, badged Tygan, is then hand built to the customer’s satisfaction by skilled craftsmen, painted in a new paint plant and delivered with a 12 months return-to-factory warranty.
Investment from South West Ventures Fund will allow Tygan to anticipate planned emissions requirements for ‘new build’ cars, particularly in the EU market. From next year standards will be met only by engines with catalytic converters and fuel injection so Tygan is currently evaluating a new engine which already meets the strict Californian regulations. From 2010, it is likely that ABS brakes will be mandatory and this issue is also being addressed.
A six-strong dealer network has been established in the UK and it is intended that this will be expanded into Europe in 2009 to cover the Mediterranean markets of France, Spain, Italy and Portugal. On the promotional front, Tygan is currently under contract to supply a Speedster 356 for use by Yorkshire TV in its productions of Heartbeat and The Royal.
Graham Lee, Chairman of Tygan Motor Company Ltd, said: “We believe we can generate significant interest in the UK and Europe in our cars. The investment from South West Ventures Fund will help us increase our production to 120 cars in 2009 and the business plan for 2011 is based on sales of 200 cars – an achievable and realistic target given the potential market in Europe.”
Julian Dennard, Senior Investment Manager at YFM Group, managers of the South West Ventures Fund, added: "Tygan has a growing order book and sales pipeline for these cars, which catch the eye and the imagination. The marketing analysis suggests that the company has a bright future as a niche automotive manufacturer selling a luxury product to high net worth individuals.
Car loans versus traditional car financers
Article by David Harve
Barring the privileged few, buying a car remains one of the major purchases in ones life. A swanky car with a stylish exterior and comfy seating space is everyone’s dream car. But a low cost used car might be what they can afford at best. For the majority, extra finances are a must to own a set of wheels. Fortunately, the market is also flooded with car financers and car dealers. In some cases, the manufacturer themselves take up the responsibility of financing the cars they sell. Yet, many people prefer to use the option of car loans to pay for the automobile they buy. Let us see whether it is profitable to finance a car with loans or it is better to use other means of finance.
First of all, let us check out the interest rate. According to research carried out recently, car loans come with comparatively much lower interest than other mode of car financing. Experts connected to the research suggest that consumers can save a substantial amount if they use a loan to finance their car.
The next issue is that of hidden charges. The process of financing a car gets over very quickly if one goes through the traditional car dealers or car financers. Everything is carried out quickly and the consumer pays little attention to the small details. So, they come face to face with nasty surprises in the form of hidden charges.
The next agenda is that of terms and conditions. It is a universally acknowledged fact that traditional car dealers ask for comparatively rigid terms. They take the missed payments seriously and results in the seizure of the car. They also never hesitate to use threat and violence to recover their money. On the other hand, car loans come with flexible repayment terms. Missed payments are not taken seriously. The consumer is allowed to pay off the missed payments along with the next instalments.
Beside this you can take a car loan with or without collateral. But purchasing a car through traditional financers means that the car will be always there as a security. In case you fail in your repayment, the car will be repossessed by the financer. From the above discussion it becomes quite clear that car loans are a far better option for car financing. This option is cost-effective, hassle free and easy to manage.
Car Financing question by In paradise: What are the interest rates for car financing/ leasing in Saudi Arabia?
Having recently arrived in Al Khobar, I need to know the interest rates.
Thanks!
Car Financing best answer:
Answer by B K
contact NCB; they are currently the only bank in saudi arabia with a decent auto lease program.
other banks will only give you personal financing with which you can buy a car.
You can Find Trouble-free Car Loans Offering car finance low rates
Author: admin
Car Financing
You can Find Trouble-free Car Loans Offering car finance low rates
Article by Rick Henrys
Buying a new car is a big monetary choice that will likely set you back. Getting a fresh car is cause for celebration though. A burden free new means of transport is also fantastic, especially when you add in that new car smell. It is very much an asset regardless of how much it takes to insure and maintain it. But when you make a decision to acquire a brand new car, the most significant step you will make is not to narrow down the make and model. Narrowing down your financing possibilities is. In all honesty, obtaining a brand new car is very challenging on your finances. Affordability may cause you to sacrifice the newness in your first car, however, the feeling of newness is well deserved when you have to the second or third car. The concern is, where to begin with car finance?
A new car should not be aimed for until you understand all of the car finance specifics. Understanding how to acquire approved, pick the right lender for your loan and make the repayments on time is essential. Great detail will be taken in explaining these three things. Getting the traditional bank to pay out off the car for you is what getting approved is all about, as you obtain to shell out back in monthly installments. Your chance worthiness will be assessed by quite a few lenders to make your mind up if they want to take you on and determine if you are really deserving of being financed. Car finance Brisbane has a lot of options and here is how you can acquire approved simple and fast.
To begin with you must make sure that you have your finances under control. Should you are struggling with some debts you need to try consolidating your debts, this will make it much simpler for you to make repayments. As with your mortgage and credit card especially, make sure all payments are made on time. This will improve your credit score, especially if it has been harmed by past monetary blunders. Financial duty desires to be proven when the car finance Queensland deal you want is a big one. This is not to say that a small credit score won’t have a car loan, but raising your score is encouraged so that you can have access to the better interest rates.
A high deposit sum need to be a purpose as well. If you want a fresh car you have probably been obtaining financially well prepared for it. If you have been eyeing a fresh mid-sized SUV, then have at least ten grand saved up, and then seek financing for the remaining sum. Making a huge deposit shows your beneficial faith and your ability to repay the loan. If you can raise a big down payment the lender will have less doubts about your financing proposal. The loan amounts are bigger without a deposit, but you can have approved without one. A deposit is advised should you are trying to shell out off your loan in a short amount of time.
Shop around. Car finance Brisbane can be offered by a lot more than one institution. Do a focused online search. The car finance deal for your dream car will probably be offered by lenders online and you will be in business. Your payment can be estimated by the online loan payment calculators. In terms of repayment flexibility, interest rates and repayment periods you should always search for the best opportunities. When you acquire monthly repayments that are a tiny hard to deal with, unless you obtain a second passive source of income, then glance somewhere else. It is simple to get car finance Queensland deals that are customized to your financial requirements.
The car finance deals that are the very best and you should hope for are the ones that don’t place a huge funds fill on your back. Financing with banks and various other institutions are suggested for this reason, aside from the dealerships being where you bought the new car. Increased interest rates commonly come with dealerships and the loan is also secured with the car. For those who fall behind on the payments for a period of time of time, you will lose the car to repossession and you will have a very difficult time getting it back.
You need to make the right fiscal adjustments to guarantee that your fresh loan fits well with your various other obligations. You may find a car finance Brisbane deal where you can make weekly payments instead of monthly ones. Don’t do this unless you can make the payments in such short intervals. The intention is not to pay out off the loan as quickly as feasible, but to be comfortable with the repayments and repayments period.
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Car Financing question by prolly: Can a car dealer request to change car after financing approved and contract signed?
I recently purchased a car. After a few weeks of getting everything in to get financing approved the dealer has now called and said that the APR was a promotion for a 2007 model and they sold me a 2008. Do I have to sign a new contract and change cars after the financing has been approved and the contract has been signed?
Thanks so much…I do have possession of the car and I am currently at school 200 miles from the dealership and they want me to come back to sign these new papers…they didn’t even want to tell me what I was signing papers until I continued to ask my reason for coming 200 miles.
Car Financing best answer:
Answer by teamepler@verizon.net
No, I think it is time to report what is called “Bait and switch” to the appropriate authorities.
The dealer pulled pulling a switch on you after they baited you (and sunk the hook real good).
If this happened to me I would just call the deal off and look for an honest dealer, this one is not.
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