Which Car To Buy – Used Or New?

Are you confused whether to buy a new car or a used one? It is very tempting to buy a new car, but the fact is that the number of users buying a used renault in Merseyside is more than those buying new ones. Though both used and new cars have lots of benefits as well as drawbacks, the used car sales figures are much better as per reports published by www.smmt.co.uk/category/vehicle-data/used-car-sales-figures/. But buying a car will be ultimately decided by your budget as well as various other factors like use of the vehicle, EMI you can afford to pay, etc.
Read below to find the benefits and drawbacks of both the used and old cars based on which you can make decisions on the purchase.

New cars: Many benefits can be had by purchasing a new car. The buyers will not only get the specifications that they desire but also get the manufacturer warranty and other add-ons that they provide along with offers that make for a sweet deal. Moreover, you will not have to worry about the previous history of the car and the owner. The other advantage of new vehicles is that you get to use the latest technology which offers better mileage, more safety features and eco-friendly variants which cannot be undervalued. Latest vehicles have the best safety features that can be life-saving when you are in an emergency situation.

Used cars: As mentioned earlier, used cars are more sold than new vehicles. The most prominent advantage in used cars is that there is greater variety regarding choice. But perhaps the most significant factor that attracts users to buy used cars is the price. It is a well-known fact that new cars depreciate very quickly. In fact, when it is driven out of the showroom, the value of the car reduces by a whopping 20%. By the end of three years, the cars lose up to 50% of the price at which it is purchased. On top of it, manufacturers are providing factory warranties for a more extended period which is an excellent plus for used car market. That ensures that the used car owner is not worried about the state of the vehicle.
The primary disadvantage of the used car is that of the car’s history. Many dealers tamper with the mileage, and hence you should ensure to purchase from a reputed dealer who provides manufacturer’s warranty. Look for vehicles which have a service history recorded from the date of first purchase till the time you buy it.

Almost new cars: This is an option which is the best option if you cannot afford the latest model but do not want to buy very old ones either. The primary advantage is that it is a nearly new car, but you are paying the depreciated value and hence excellent value for your money. Moreover, the number of miles covered will be less and will still look like new.
The significant disadvantage is that car’s resale value will be less as there is an extra name on the registration. Also, the choices of models that are on offer are even less.

Knowing About Loans For Unemployed People

Loans are offered for people who earn a regular income. This is because only people with regular income can repay the loan on time. It is really difficult to get a loan for unemployed people. Mostly banks and credit agencies may reject your loan application if you are unemployed. There are certain types of loans sanctioned for the unemployed. It is also evident that the interest rates are considerably higher for loans sanctioned for the unemployed. The lower income loan guide would help you to know about the interest rates for loans based on your income. The link www.greenprophet.com/2017/08/the-benefits-of-short-term-loans-for-small-business/ rightly highlights the benefits of short-term loans for the unemployed people.
People apply for a loan for various reasons like buying a car, house renovation or to consolidate other debts. The article below would help you to know about the type of loans offered if you are unemployed.

Loans For Unemployed
It is obvious that a standard or mainstream banks or financial agencies do not offer loans for people without a steady job. Certain specialist lenders might offer loans for the unemployed. So people without a steady job need not worry that they cannot apply for a loan. Even mainstream banks can sanction a loan for the unemployed with a high rate of interest. But you may not have several options for lending. Sometimes banks may reject your loan application due to your poor credit score.

Ways To Improve Credit History
A bad credit history is the main reason for the rejection of loans for the unemployed. People who are unemployed should be attractive to their lenders and prove their trustworthiness by improving their history. The following should be done to improve your credit history.
· Ensure that the details provided to credit reference agencies are correct.
· See that you register your name in the electoral register. The lender checks your personal information in the electoral register.
· The loan applications should be spaced out. Rejection of loan applications in quick succession will create a negative footprint for you. This makes other lenders to reject your loan application.
· Pay the repayment amount regularly so that it helps to improve your credit history.

Types Of Loans
There are certain types of loans which are mainly offered for the unemployed. You may be aware that an unemployed person is not entitled to apply for attractive loans with less rate of interest. Ordinary loans with low-interest rates are sanctioned to people with good credit history and a steady income. But there are certain types of loans offered by specialist lenders to the unemployed.
Secured Loans: Mostly lenders offer a secured loan for the unemployed. The borrower can pledge his property say house, land, car, etc. for the loan amount. He should surrender the property to the bank f he is unable to repay the loan amount. Personal loans are offered by some organizations for people who do not earn money. Lenders offer a personal loan with a high rate of interest as there is a high risk of providing a loan to the unemployed. Check the one which best suits your need and stay stress-free.