Author Archives: schatzi

Third Party Car Insurance

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Car insurance is mandatory not only in the United States but in many countries around the globe. We all know about the kind of insurance that we can have in the event of a fender bender or an outright accident that protects the driver and passengers. But, what happens when there is an accident on which your car is involved but you were not the driver. Many of us will lend out cars to friends or relatives without thought to accident or injury to the driver or the car. In that case there is third party insurance.

Third party car insurance covers you in the event of damage caused by your car, in the event of an accident,  to property owned by a third party. This would be considered coverage for damage done accidentally to someone’s property and the coverage can go to Twenty Million dollars.

Your car may not be worth insuring the think of the other person’s property. If you have experience car repairs you know that a scratch or a bump can sometimes cost thousands of dollars for repairs. If you car may not be worth insuring what about your peace of mind that has some worth.

There are advantages to having third party car insurance as some companies will cover you if your car is damaged by a driver that is uninsured. In addition, most of the third party car insurance companies understand the importance of you car to your daily needs and resolve the claims as quickly as they possibly can. There are many options as every third party car insurance company has different coverage options.

It is mandatory in the United States that you have liability insurance to cover injury and damage to property. However, each State has its own requirements regarding insurance. Although penalties for not having auto insurance vary by State there a usually substantial fines, license suspension and sometimes jail time. The minimum insurance that is usually required by law is third party car insurance in order to protect third parties to cover financial loss in the event of damage or injury to property or person that may be caused by your vehicle.

Short Selling Stocks: Taking Advantage of Downturns

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The stock market can be a great place to save money. Because of inflation, money kept in a jar or under a mattress actually loses value over time. That is, $100 in 200 only buys as much as $78.40 in 2010. In order to combat this effect, money must be kept in such a way that it appreciates at faster than the rate of inflation. So, if the rate of inflation is 3%, money must accrue interest at at least 3% to maintain value.

The stock market has generally appreciated at about 10% over its history. Of course there are many exceptions, the recession of the 2000s being the most notable in recent history. Also, the stock market and individual stocks are not the same thing. While the stock market has risen an average of 10% a year for the past several decades, individual companies sometimes do much better than that, but might also die completely, rendering the shares of their stock completely worthless.

Taking Advantage of Volatility

Because of the very real possibility that the stock market will not rise at the rate of inflation over the short-term, and because short-term can be anything less than a couple decades, some investors eschew this strategy in favor of one that capitalizes on another of the stock market’s trends: volatility.

Short-term strategies take advantage of the fact that while the stock market tends to rise continuously over a half-century or so, it also tends to experience up-and-down swings over a weekly, daily and hourly basis. Selling high and buying low is a great way to capitalize this. Often an investor will make several purchases per day, and several sales per day. With this strategy, money is made by selling the stock at a higher price than it was purchased, but if the stocks one is tracking all lose value throughout that day, the time was lost.

Short selling is a way to capitalize on the volatility of the market, while not wasting time if the market falls. Basically, the strategy is the same: buy low; sell high. But the difference is that in contrast to regular stock trading (or commerce of any other sort) which requires the investor to purchase the goods before selling them, short selling allows for selling before buying.

Sell Before Buying

How can one possibly sell a stock before buying it? Does that mean you sell a stock you don’t currently own? In a word, yes. Imagine that you wanted to do this with cars. For the example to work with cars, imagine that every car of a given make, model and year were the same as every other car of that make, model and year. So, for our short-selling-cars analogy, go to a car rental place and rent a car for an extended period of time. Then, sell the car to a third party. After that person drives the car for a while, the car will depreciate. Buy the car back from the third party and return it to the rental agency.

While this example won’t work in real life because the rental fees will almost certainly be much higher than the amount you make from buying and selling the car. Also, when you rent a car, you don’t get the title, so you can’t legally sell it. But, it illustrates how short selling works. Sell a stock short, wait for it to go down in price, and then buy to cover at a lower price, profit.

The danger that exists with short selling stocks is that while cars decrease in value at a fairly steady rate, stocks might rise or fall. When selling short, the potential for loss is technically unlimited. Monitor the potential for stock gains and be sure to cut losses if the price rises above your threshold.

Guides in Taking Your Car to An Auto Paint Shop

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When should you bring your car to an auto paint shop? Vehicles like cars have grown to be necessary these days. It is important because you simply want to go places in the most convenient ways. Commuting is fine but it turns tedious when done on rush hours. That is why you decide to take a ride in your own service vehicle.

Cars do need maintenance especially if it is old and gray. You need to check the engine, its interior equipment as well as its furnishings. You do repairs and may even decide to have it re-painted to keep it looking new. There may also be occasions where certain body parts need painting because you just bumped into a mishap. Whenever occasions like these happen, you always look for an auto paint shop.

There might be instances you sell an old car to someone else. But before you do that you need to have the engine fixed and have it re-painted to make it look like brand new. People tend to invest their hard-earned money on items that are of much value to them. And seeing a car that is in real good condition make them want to jump right into the car if the price is right.

An auto paint shop provides this service for you. In fact, you will find plenty of these around you. They could come as nationwide chains or just merely an independent shop; you can even search it in the Internet. Just ensure to compare prices before you have your car done so you get your money’s worth.

Once inside this type of shop, they have professional painters working closely with you. Before you decide to have your car re-painted, discuss first with the painter what you want clearly done with your car. You may even get to decide the color of the paint. If you don’t have one in mind, this guy can suggest ideas for you.

And when you have a better view of how your car will look after being re-painted, talk to the manager of the shop and make arrangements for the price. Price varies depending on the size of the job and the quality of work. It is also important to consider the amount of time the job will be done.

If none of these seem to work, you have choices of re-painting your car yourself. But it takes a lot of art work and patience to see how your car has improved. Indeed it will save you money but it will surely entail a lot of hard work on your part. Whatever options you may have, it surely aims to having a new look on your car. Hence, an auto paint shop will be available for you whenever you need it.

Bad Credit Loans – A Borrower’s Guide For Personal Loans

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If you are in need of cash, a personal loan might be just what you need to be able to pay your bills. Many people who need money fast overlook the option of personal loans because they do not understand how they work. Or, they do not think that they will be able to qualify for one of these loans because they have a less-than-impressive credit score.

The truth is, however, that you can find personal loans even if you have a very low credit score of under 600 or even 550. There are several types of personal loans to choose from, including secured loans, unsecured loans, and auto title loans.

Secured loans are where you put up some sort of collateral – something of monetary value that the lender could easily sell in case you fail to pay back the loan principal. Because this type of loan is secured, it means that you can expect to pay slightly lower interest rates. Also, your credit score will not be much of a factor with these loans, since the fact you are putting up collateral helps to reduce the lender’s risk in the deal.

Unsecured loans, on the other hand, do not require that you offer up any collateral to the lender. That’s a good thing if you do not want to put something of value up for possible sale by the lender later on. However, the drawback is that you will have to pay a higher interest rate on your borrowed money.

An auto title loan, meanwhile, is very similar to a secured loan. In fact, it is a form of secured loan. With an auto title loan, you are using your car’s value as loan collateral. In the case of this type of loan, you are risking losing your car. And, interest rates can be pretty high.

If you can, your best bet among these 3 options is to go with an unsecured loan. Surprisingly, even if you have a bad credit score you should be able to find a bad credit lender who will lend you the money you need.

The trick to doing so is this: you do not want to just walk through the front door of any old personal loan lender and ask for a loan. Rather, you will first want to do your homework. Find a notepad and a pen. Then, start searching for personal loan lenders who make it a point to deal directly with people who have low credit (FICO) score. Take good notes so you know whom to call and who is offering you the best deals.

You see, bad credit personal loan lenders will not be nearly as hung up on your credit score as would be most lenders. While most lenders will run away screaming at the sight of a FICO score below 550, a bad credit personal loan lender will automatically see that as a challenge to try to meet or beat. By applying with them directly, you will be setting in motion their wheels, with the goal of finding a way to get you approved.

Final bonus tip: make sure that you do not limit yourself to applying to just one of these lenders. Instead, apply to at least 3-4 of them. That will increase your chances of landing the best rate.