Tips to Stay Safe When You Send Money Online India

Internet can be a bit of a mess as far as security is concerned. If you are not careful, you might end up losing money or become a victim of identity theft. There is no doubt that money transfer has become easier with the internet but you need to be extra careful and keep your money and personal details secure. With the rise in online remittance scams and identity theft cases, demand for reliable and safe money transfer options has become a necessity.

The next time you send money online India, here are a few useful tips that will help you ensure security:

First thing you need to do is ensure that the remittance method you have chosen is secure. If you are not sending money through the bank, then you better choose a reliable money transfer agency. There are a few factors that you must consider when selecting an online agency. For instance, you need to find out how long the agency of your choice has been into business, what are people saying about its services and so on. There are several forums online where you can read what people have to say about a particular agency’s services.
Second tip for a safe and secure money transfer is a virus-free device. Whether you are using your tablet or your smartphone, it is necessary to have a secure device that is free from virus or malware. You need to ensure that the device is well-protect and has the latest anti-virus installed in it. Never make the mistake of initiating money transfers from a public computer and don’t share the ID or password of your internet banking with anyone on the phone or emails claiming to be from your bank.
Third safety tip is to send money only to people you know. If you have received an email from someone asking for money before they send you a cheque or a gift, then beware. These are spam emails and if you end up sending money, you will never get it back. So, never respond to any suspicious emails.
Besides being safe and secure when sending money online, you should also make an effort to save some money. International money transfers can be very expensive if you haven’t planned well. You need to look for the best rates and choose an agency that will not burn a hole in your pocket. At times, even if you get the best exchange rates to India, the agency will charge you a high transfer fees which will make your remittance expensive. So, there has to be a balance between the transfer fees and FX rates that you are getting.

With some research and patience, you can save a lot of money. Also, if you look for good FX rates, the recipient will get maximum of what you are sending. By remembering the above-mentioned tips you can easily send and save money on each money transfer.

The Mistakes That Come With a Longer Auto Loan Term

Most car buying stories start in a similar fashion. You have your eyes fixated on the new car but the high monthly payments do not match your current budget. The dealer suggests that you opt for a longer term period that reduces your monthly payments. You agree, thereby, falling into the vicious cycle of negative car equity. The common mistake while purchasing a car is ignoring the auto loan term. Additionally, it becomes all the more important to ascertain your loan term when you suffer from bad credit. Avoid making the following mistakes relating to loan term to ensure that your car buying decision is financially sound.

4 Mistakes that you can make with a Long Auto Loan Term

1) Getting into the rut of negative car equity

The longer the term on your auto loan, the more the build-up of negative equity. A shorter term period lessens your overall auto loan amount. Negative car equity is built when you owe the lender more than the current worth of your car. A longer time frame on your auto loan means additional interest amount whereas a short term period builds positive equity and helps you to obtain a higher amount during a trade-in or resale.

2) Paying high interest rates

The interest charged on an auto loan is the additional money you pay, over and above the price of the car. Ideally, it makes sense to opt for a shorter loan term with low interest rates. When you increase the length of the loan term, you are increasing the dollars you spend on the car. Make sure you consider the whole picture and take into account the overall loan amount along with the loan term when you purchase your next car.

3) Receiving a low resale value

A low resale value is reason enough to steer clear of the extra-long auto loans. The time you take to repay the auto loan amount significantly impacts the resale value of the car. The car value starts depreciating the minute you drive it off the dealership lot. In regards to the length of the loan term, a five-year old car is more favorable than a seven-year old car. Therefore, the shorter the loan term, the more resale value you will obtain when you sell the car.

4) Spending on high maintenance costs

Car fatigue is another reason to switch to a shorter loan term. Once you have hit your five-year mark on a car, a trade-in might be right around the corner. The average age of a car during a trade-in is five years. However, if you opt for a 72-month auto loan, the option of trade-in diminishes and your maintenance cost increases. Thus, a shorter term will not only get you a favorable resale value, but will also reduce your car maintenance costs during a trade-in.

The Ideal Solution

Every problem has a solution. A large down payment, opting for a bad credit auto loan and showing strong evidence of your sources of income will assist you when you face a difficult situation. Additionally, keep in mind the impact of negative car equity and high interest rates. Stay determined to repay your auto loan amount within a shorter time and make sure to improve your credit score for a smooth car purchase in the future.

How you can improve the quality of your life with homeowner loans

Homeowner loans as the name suggests homeowner loans are meant for people who own a residential property. The amount of the loan is decided by the lender based on the amount of equity that you own in your home. It is very easy to get these loans if you approach a good loan broker because all loan brokers are associated with various specialist lenders who provide special loans to people who would not be able to get them from traditional banks or lenders.

Importance of home improvement

As mentioned above you can easily get loans meant for homeowners. These loans can be used to remodel your home and make some home improvements. Your home is your haven of peace where you hang your boots after a long day battling the outside world. This is where to spend quality time with your family and friends. This is the reason that it is necessary for this haven to be both pleasant and comfortable.

Like most things a home suffers wear and tear over a period of time and hence also needs regular maintenance and repairs. If you feel that your home is in need of important repairs or you simply want to enhance the quality of the time you spend at home, then you should opt for a home improvement plan.

Many people are worried that they don’t have the required savings to undertake a home remodeling or improvement project. However, with easily available personal loans for homeowners this should not be a problem. The amount of money you get from these loans can be spent on improving the condition of your home and making your life more comfortable and pleasant.

What if you have poor credit?

If you have poor credit you may be worried that you will not get a loan. However, this is not the case anymore. It is true that traditional banks and lenders do not provide loans to people with bad credit, but there are many specialist lenders who are ready to take an additional risk and provide homeowner loans for poor credit. First of all the lenders are assured of the safety of their money because you are offering your home as collateral. At the same time, the lenders are only interested in your current ability to repay the loan. You may have got bad credit in the past due to unforeseen circumstances or your own financial habits. But that time is past and your financial condition has improved and you have learnt your lessons. This is the reason that these lenders understand that just because you have bad credit does not mean that you will not be able to repay the loan. This is the reason that they are ready to provide loans for people with bad credit and the best way to approach these specialist lenders is through a reputable loan broker. You should ascertain that the loan broker follows the guidelines and regulations of the FCA to the letter and has only legitimate lenders in their association.