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Shopping for Breakdown Cover

There are many things to consider when you are shopping for breakdown coverage for you or your vehicle. First is who or what should be covered, second, how much coverage is needed, and third your location or the location of the driving  you will be doing.

Who or What

Who or what might sound like a crazy category for any sort of insurance coverage, but here is the core of the matter: you can associate your breakdown insurance with the person who will be doing the driving, or you can associate it with the vehicle that will be driven. Each approach has advantages, and neither are wrong. If you choose to select breakdown coverage that is associated with you, then any vehicle you operate will be covered by your breakdown insurance. There might be some exceptions if your personal policy does not cover business vehicles. If you associate the policy with the vehicle, then anyone driving it will be covered, and the vehicle will be covered as well, even if its operation was not authorized.

How Much Coverage

Like many types of insurance, breakdown coverage comes in various levels. Each level has properties that might or might not be useful for you. You can save a great deal of money over time by only selecting coverage that you need at the time and by avoiding automatic renewals. For example, if at the end of Year One you take a thirty-day vacation in Europe, you took out International breakdown coverage, that would drive up the price of your breakdown policy for that month. If your policy automatically renews when you return, that cost will be added to the next month’s fees. However, if you do not have auto-renewal, you will examine your policy, remove the international level and your cost will go back down. It is important to select coverage for all the situations that affect you, but you do not want to pay for coverage you do not need.

Location of Operation

You can get breakdown cover for your bike for a small an amount of area as ¼ mile from your home or for an area that encompasses all of Great Britain and a good part of Europe. The interesting thing is that these areas would seem to overlap. They sort of do and they sort of don’t. For example, the cover that applies to ¼ mile from your home is called “At Home” insurance, and unless you select it that area is not covered by the next level, which is “Domestic and Social.” Neither of these two categories cover Commuting even thought that is a common use of vehicles, nor does “At Home” roll into the business category of coverage. So, you see, where you are operating your vehicle and for what purpose is going to make a huge difference in the policy that you need.

Check Your Other Insurance

If you already have a liability (sometimes called uninsured motorist), collision or full coverage insurance policy, then it is likely that you might find at least some sort of roadside assistance rolled into your coverage. It is likely to be limited, however, so read your  policy carefully.

Breakdown Cover for You

Most agents are very glad to work with you to develop the kind of policy that you really need to provide for your style of driving. Their goals are not only to sell you insurance, but to help you select the insurance you need. Your satisfaction will increase the likelihood that you will be back year after year to purchase insurance of all sorts through their company.

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How to Get a Cheap Bank Loan: Identifying Ways to Borrow Money at the Lowest Rate of Interest

Personal loans have become a way of life for many, so being able to secure finance at a low rate APR is fundamental to survival. It can make the difference between affordability and subsequent default. Most importantly, the cheapest bank loans leave people with more money at the end of the month for other expenses.

Maintain a Good Credit Rating

Order a credit report copy from Experian to validate that all the information held is factually accurate. Having a good credit rating is fundamental to securing a cheap personal loan. It tells the lender what risk profile a new customer represents. The lower the risk presented, the more attractive rate of APR the customer pays.

Don’t Make Multiple Credit Applications

Making multiple credit applications sets off alarm bells for financial institutions so apply as sparingly as possible. It is far better to use an online loan comparison web site so that the best rate of APR can be identified. If there is a fit with the required credit profile, make that application.

The Importance of Lender Trust

When a customer has had a relationship with their bank for many years without problem they are likely to be able to get a cheap bank loan. Not only that, many banks will offer these reliable customers a lower rate of APR. Some have already pre-approved their customers for certain products and services.

Don’t Get Payment Protection Insurance (PPI) from the Loan Provider

The purpose of Payment Protection Insurance is to cover people for 12 months in the event that they can’t work. The problem is that banks charge considerably more than alternative sources. Customers aren’t informed that the exact same insurance can be purchased online for a fraction of the price.

Check that Existing Loan Agreements are Legally Enforceable

Approximately 60% of loans taken out prior to April 2016 do not comply with the Consumer Credit Act 1974. If the rate of interest is calculated incorrectly, a signature is missing, the number of payments isn’t specified etc the loan may well be unenforceable.

It is worthwhile getting a solicitor to examine any credit agreement for under £25,000 to see if the loan agreement can be written off. If the loan isn’t legally enforceable, the solicitor may be able to get it written off in full. Check this prior to debt consolidation.

Anybody with a clean credit history should be able to get a cheap bank loan. Those with bad credit shouldn’t despair as there are some higher APR products and secured loans available. Always be careful when borrowing as too much debt may prove unsustainable in the long term.

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Unsecured Personal Loans

Options for Good Credit and for Bad Credit

Are you considering a personal loan for a purchase, extra cash during a difficult time, or for any other reason whatsoever? There are many different ways to go about getting a personal loan and there are options for both bad and good credit. Here are some of those options and what you should consider.

First, you need to understand that there are two types of personal loans. There is the unsecured type which will not require you to put up any collateral. There is also the secured type where the lender will hold the title to a car or some other for of collateral until the loan is paid back.

The first option is where all borrowers should start regardless of whether they have good credit or bad credit. Go to your bank and apply for a personal loan. Make sure you explain your situation and they will see what they can do for you. If you have very good credit chances are you will be approved for some amount. If you have bad credit you might have to put up collateral or get a co signer to get approved.

Second, you should try using a company that specializes in personal loans. There are numerous companies that have a specialty in personal loans and you can even apply right online with most of them. This is great for you because it is convenient and will save you time. Most of these companies have lower requirements than banks so this is a good option for bad credit borrowers.

The third option is to use a creative way to get the money you need from a private source. There are individuals that have a lot of money out there and for the right reason they will lend some of it to an individual as an investment. You can find them by placing an ad in the classifieds or by using a website like Prosper. These individuals will usually charge a higher interest rate, but they will help you get the money you need.

The last option is geared towards bad credit borrowers, but if you have good credit and you need money fast is might work for you as well. It is called a payday loan or a cash advance. You can get as much as $1,500 and you can get the cash the same day you apply. You can go to a cash advance store and apply or you can apply right online and find out if you are approve in minutes. The requirements are very basic and just about everybody will be approved.

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Student Loan Options Case Study: Chase Student Loans

There are a number of different ways to fund a college education. The federal government offers a few loan options and an array of financial aid services for students in different situations, and there are many different grants and scholarships available. The financial aid office at your school can help you find out which of these may be available to you. After federal funding, if you still need more money to pay for your education, you need to start looking into private loans. Many different companies offer many different services, but let’s take Chase student loans as a case study.

One service Chase and many other lenders offer is to help you through the process of applying for federal Stafford and PLUS loans, for undergraduate and graduate students, respectively. Chase can offer a slightly lower rate than the standard government rate for paying back these loans, reflected not in a lower monthly payment but in fewer total payments. They can also help with student loan consolidation.

Federal loans and financial aid are often not enough to cover the cost of getting an education. Private lenders step in to make up for the rest of the cost of studying. Chase offers a couple of different private loan packages; their program is fairly standard, so it provides an idea of more or less what you’ll be dealing with.

Chase private student loans pay up to $40,000 per year at an interest rate which depends on the applicant’s credit rating. A cosigner is encouraged as this can lower the interest rates, but is not required as long as the recipient is creditworthy. Recipients begin paying back the loan 45 days after receiving the money but they do have the option of deferring payment of the principle or the principle and accumulating interest until after they finish school.

Chase Select loans are available for graduate and undergraduate students, covering up to the cost of attendance minus financial aid received (COA-Aid). These expenses must be approved by the school.

Chase also offers the Chase Medical Education Program. This is a variety of loan options including federal loans such as Stafford medical loans and PLUS graduate student loans, as well as private medical loans and medical residence loans.

As do many other lenders, Chase has lending specialists available to answer questions and process loans by telephone or by internet, and have a number of online resources, such as loan payment and cost of living calculators and borrower access to their loan history.

Chase student loans are an excellent example of what kind of plans and requirements you’ll find with other lenders, just so you have a starting point to work with. You should compare offers with multiple lenders before settling on one private student loan.