“How to Understand Car Loan Terms” Answered by Complete Auto Loans

by Shelton on May 3rd, 2014

filed under Car Lending

The car lending resource helps consumers understand common terms related to buying a car in their latest news release.

(PRWEB) April 03, 2014

Complete Auto Loans is helping more car hunters stay on top of the lending industry by not only helping people with poor credit history get a car loan but by educating them on the different common terms that lenders tend to “throw around”.

The fact is, consumers don’t have to nod their head in confusion wondering what APR or Amortization means. Shoppers can first brush up on all the common loan terms and then get pre-approved for a car loan before visiting their local dealership at Complete Auto Loans.

The lending resource makes it easy to apply for a car loan (no matter one’s credit history). Applicants can be accepted for a car loan in as little as 60 seconds. Just visit the application page of Complete Auto Loans and fill out all necessary information. Once the form is submitted the applicant’s financial history is analyzed and matched with a lender who can provide a loan.

The application process is free. Complete Auto Loans provides their trusted lending network nationwide to anybody with good, bad, or no credit.

About Complete Auto Loans:

CAL provides auto loans and refinancing for people with good or bad credit history. Their unique finance platform can accept 100% of applicants, regardless of poor credit or even bankruptcy. By visiting completeautoloans.com, consumers are able to find the ideal loan for their personal financial situation, all through a quick and easy online process.

For the original version on PRWeb visit: http://www.prweb.com/releases/how-to-car-loan-terms/bad-credit-car-finance/prweb11731347.htm

5 Signs You’re in Financial Trouble

by Shelton on May 3rd, 2014

filed under Below Average Credit

This article was written by Alaina Forbes for Manilla.com.

Financial troubles do not often appear out of nowhere, but if bad financial habits have become the norm, you may not see the warning signs. Here are five red flags that you may be heading towards financial trouble.

1. No Significant Savings or Emergency Fund

A savings account is a necessity for any family, regardless of your income. Some may prefer a savings account that also functions as an emergency fund, while others may prefer a separate emergency account. The purpose of this emergency fund is to have money available when the unexpected happens. This could be something small, like an unexpected car repair, or a big event, like the loss of a job. The amount of money needed for an emergency fund varies based on where you live and the expenses you have. Generally, experts agree that there should be at least three months of income in the fund, possibly up to a years worth. Living without a savings account or emergency fund is a gamble that may land you in serious financial trouble.

[More from Manilla.com: How a 21-Day Financial Fast Saved Me Tons]

 2. Borrowing to Pay Other Loans

Maxed out credit cards, where users can barely pay the minimum due each month, are a true sign of financial trouble. Even worse are those who may find the need to begin borrowing at high interest rates for cash advances in order to pay other loans or bills. Borrowing from one credit card to pay another credit card or loan is a cycle that can only be sustained for so long before you will be unable to keep up. High interest pay day loans used to catch up on bills are also a bad idea and are usually a response to living paycheck to paycheck. Take a step back and evaluate your financial situation and what can be done to change it.

3. No Health Insurance 

Living without health insurance or without enough insurance is a risk not worth taking. While some may argue that the cost of health insurance makes this bet worthwhile, one bad accident and you could find yourself over your head in medical debt. An emergency room visit or even a very short hospital stay can stack up tens of thousands in medical bills very quickly. Make sure your insurance provides enough coverage to keep your family out of financial trouble.

[More from Manilla.com: Becoming Wealthy Starts By Thinking Like the Wealthy]

4. Credit Denial 

Being denied credit should be like a big warning sign saying, You are in over your head. Most credit providers base this decision on credit history and credit score. A below-average credit score can mean lenders will charge a higher interest rate, but when lenders stop approving you for credit all together, this means trouble. A very low credit score can be caused by a combination of many factors. Some of these factors may include your debt to credit ratio, multiple late payments, and your total amount of debt owed.

5. Ignoring Debt

Most families find they will have a need for credit at some point. Knowing how to use this credit appropriately can be a hard lesson to learn. Borrowers who choose to be ignorant of the amount of debt owed, or the fact that there is no end in sight for paying it off, need to make some changes quickly. Consumers can spend freely, ignoring the climbing debt only for so long before a financial disaster is in sight. Any loans or credit purchases should be made with a plan for how and when they will be paid off.

Alaina is a contributor to The Manilla Folder at Manilla.com, the leading, free and secure service that lets consumers manage and share all of their bills and accounts in one place. Alaina is also the founder and editor of her blog, Telecommuting Mommies, and she also opens up her personal life as a homeschooling, blogging, work-at-home mom of four at The Maestro Mom. Follow her on Twitter at TelecommuterMom.

More from Manilla.com:

  • 20 Habits of Financially Successful People
  • You Can Completely Change How You Manage Your Money in 4 Steps
  • 7 Personal Budget Alterations to Build Your Nest Egg

A Route Into Renewable Energy: An interview with Michael Brownell of Dayaway …

by Shelton on May 3rd, 2014

filed under Personal Funding

Dayaway Careers is a specialist recruitment company based in the US and run by Michael Brownell, a former Accenture partner who founded the company in 2009. Its operating principle is the belief that the growth in the global renewable energy industry will at some point generate a job shortage and that this in turn will become an advantage for forward-thinking university students. Dayaway therefore sees its role as helping students to prepare for forthcoming opportunities in the industry.

The company insists on identifying and assisting exceptional students, the specific students that renewable energy companies really want, with relevant experience, education and passion. Given that the market is still small and evolving, particularly in the US, most young professionals will not, at present, be able to enter renewable energy directly. However, Dayaway believes that they can, with the right support, prepare themselves so that they are ready to be ‘first in line’ when renewable energy hiring really fires up.

Renewable Energy Magazine decided to talk to Michael to find out exactly what is on offer.

Is the alternative energy sector you mention really alternative?

Is renewable energy in the US still a niche market in your experience?

No.  To me, a niche market is and always will be small.  While renewable energy is small now relative to conventional energy markets, certain renewable sectors, such as solar and wind, have scaled nicely and have declining long term cost curves that will make them economically smart substitutes for fossil fuels going forward.  Renewable energy will not be a niche in the future.

How long do you think it will be before it becomes a growing mainstream market in the US?

Mainstream status requires, I think, renewable energy to be less expensive than fossil fuels, to be an economic substitute.  Renewable energy gets cheaper every year and fossil fuels get more expensive.   I don’t think anyone can say when the gap that now favors fossils will close, but there’s no doubt in my mind that it will.  External factors such as renewable energy-favorable policies and crazy low natural gas prices clearly will influence the outcome.

Are you adjusting to this by preparing applicants for foreign renewable energy markets, not just the US market?

Candidly, no.  US graduates clearly realize that many foreign RE markets are more advanced than the US, but they know it is hard for them to get work permits.  They also know that non-US universities offer excellent renewable energy education programs.  For that reason, I think US students are more interested in studying RE abroad than working abroad.

You mention a job shortage in alternative energy – how many college students in the US are seeking such jobs? What is the shortfall?

I don’t know the quantitative answer, but qualitatively I know that a career in or supportive of sustainability resonates with many, many students.  They see clean energy as a field where they can make money and make a difference in sustainability.  At the moment, it is very, very difficult for them to go directly into renewable energy out of school.

When do you envisage the job shortage becoming a ‘talent shortage’

I will play the economic substitution point I mentioned above.  But for fun, let’s try a hypothetical. US electricity prices presently are low because of low natural gas prices.  Let’s say, natural gas prices were to rise unexpectedly for some reason, for example, we found a cost effective way to compress or liquefy natural gas so the US could export it (and laws changed to permit this).  This would make wind and solar sourced electricity more attractive sooner than expected.  Would we have the base of skills we need to scale it quickly?  No.  Other hypotheticals affecting oil, nuclear, fracking or climate change or carbon legislation, etc. are not hard to imagine.  Future uncertainty favors renewable energy because its costs can only decline.

What does ‘exceptional’ mean, that is to say what kind of skills, knowledge and expertise are you looking for in college students, particularly with regard to specific college degrees?

Exceptional means really good grades, in areas of study relevant to renewable energy employers (eg, STEM, finance, computer science) at the best schools and best programs coupled with relevant internship, club and project experience.  I think you add to these criteria the passion and determination needed to get into an industry that has to fight for its future.

What specific sectors do your job listings cover?

We focus on core sectors and peripheral sectors that move naturally with core sectors.  Core includes generating sources such as wind, solar, bioenergy, geothermal, hydro (wave and tidal) and fuel cells.  Peripheral sectors are the mutually reinforcing industries such as battery storage, EVs, energy efficiency, smart grid and the like.  We monitor pure-play companies as well as companies with strong renewable energy divisions, including companies/organizations playing a strong supply chain role (renewable energy components, research, policy, etc.) There are judgment call calls as to what’s in and out, but the north star is to target jobs that either are in renewable energy or will develop experience required to get into RE in the future.

Where would you say the most pressing need for new applicants is at the moment?

Developing foundational experience and networking to develop contacts in RE.

Which are the hottest renewable energy companies at the moment in your opinion?

This month the following companies showed multiple listings among the 75+ listings in March:  SolarCity, SunEdison, Opower, Enernoc, Tesla, ICF. 

Which are the best graduate programmes to go for in your opinion?

Well, this sounds political, but there are lots of great graduate programs, both in and outside the US.  Different schools focus on different sectors and different competencies (engineering, MBA, policy).  Dayaway has identified (on the site) about 50 good programs.  IRELP.org has identified many, many more.

What are the best ways in which students can prepare themselves for a renewable energy career?

Apart from understanding what employers are looking for per you earlier question, I think a student should view renewable energy as a North Star destination to which there is not a direct flight.  This means accepting that you likely will have to work outside renewable energy first.  But, pick a job that will build the skills and experiences that renewable energy companies want.  A student should look at renewable energy companies on Linkedin and see where their employees worked first.  You’d be amazed at how many worked at Intel, Boeing, Accenture or even Exxon or Exelon.  These guys did not have a direct flight into renewable energy.  Students should also start networking now to get into renewable energy later; spend a little time networking every week.  It adds up over time and may lead to the big break.

How important is networking in the renewable energy industry? Where would you advise students to go in order to meet and talk with sector professionals?

Once a student has a vision of his role and targeted industry(s) – a target to network towards – networking is everything.  People get people jobs.  As for in-person meeting and talking, a good first step is to look into the major industry professional organizations, like ACORE, ASES, IRENA, AWEA to find out about current meetings.  Students often get special pricing.  Increasingly, there are lots of good online webinars which enable a student to hear and follow-up with experts at renewable energy companies.  Linkedin is a fantastic tool to identify early stage professionals at renewable energy companies.  The art is developing a non-pushy way to reach to these folks to make connections.

Surely there are other recruitment companies doing what you are doing? In my home city of Bristol for example I know at least one agency that specialises in renewable energy recruitment….

Dayaway focuses exclusively on inexperienced graduating/interning university students and exclusively on sustainable energy.  There may be other organizations, but I have not seen them.  My experience has been that search firms rarely work with entry-level placements because they cannot make money at it.  There are exceptions, for example hot computer science majors, but renewable energy is not an exception presently.  Renewable energy companies have little trouble filling their need for entry-level BS/MS graduates by using their existing in-house and outside agencies. 

How are you funded? Are you really telling me that Dayaway operates from your own personal funding? How do you expect this to improve in the future?

Just ask my wife J.  Yes, Dayaway receives no contributions and has generated very little income.  If Dayaway can continue growing its network, brand and content as it has since 2009, I am happy to continue the private funding.  The independence simplifies life greatly. Plus, the operating model of Dayaway would be easy to scale if market conditions called for it.   Apart from helping entry-level students, there will be an opportunity for Dayaway to place experienced hires.  It is cool to see, also, how the sophomores and seniors I worked with in 2009 are becoming senior consultants and young managers at renewable energy companies and they stay in touch.  If a renewable energy company wanted to pay Dayaway to identify an experienced manager, we’d be able to do it and we’d love to take the fee and use such revenue to fund the free support provided to the students.

Mike Brownell held various roles at Accenture, Andersen Consulting and Arthur Andersen before retiring in 2002 as a managing partner in the Accenture legal group, going on to found Dayaway Careers in 2009.   Mike received his BS degree in management from Purdue University in 1978 and his JD degree from Indiana University in 1982.  He has two sons and lives with his wife outside Chicago. 

RIVERSIDE: Altura reports $3.04 million 1Q net income

by Shelton on May 3rd, 2014

filed under Car Lending

Altura Credit Union, for the period ending March 30, reported net income of $3.04 million on total assets of $730.9 million.

That compares with net income of $4.9 million on total assets of $718.1 million for the same quarter in 2013, according to the Riverside-based financial institution.

Quarter-over-quarter, net income is down 38.8 percent. Total assets are up 1.7 percent.

The credit union, which has about 85,500 members who live, work or attend school in Riverside and San Diego counties or in select cities of San Bernardino and Orange counties, reported net income of $7.03 million on assets of $708.2 million from January through March 2012.

Mark Hawkins, Altura CEO, said in a Monday, April 28,statement that the region has been challenged by a “still higher-than-average” local unemployment rate.

Even so, Hawkins said, Altura has had 12 consecutive quarters of net gains as the local economy continues slowly toward recovery.

“We are seeing quite a bit of new car lending and also the return of some home equity lending,” Hawkins said, but Altura members are still hesitant about borrowing, a major source of Altura’s revenue.

Altura members, like most consumers, are continuing to pay down existing debt, Hawkins said. “Year-over-year, loan balances are down 2 percent,” he said, the smallest decline Altura has had in seven years.

A spurt in loan applications in March and April has helped stem that decline, Hawkins said, noting: “We are encouraged by this recent lending activity and anticipate continued improvement.”

The credit quality of borrowers was described in the Altura report as excellent; and loan delinquency was the lowest it’s been in seven years. Delinquent loans fell to 0.76 percent, compared with 1.23 percent for the same period in 2013.

Other reasons given by Hawkins for a decline in net income for the first quarter from the same period in 2013 were rising operating and benefit costs, and the addition of 14 employees – mostly in lending and member contact positions

“Overall costs were up about 2.5 percent over budget projections, which squeezed our bottom line this quarter,” he said.

Contact Debra Gruszecki at 951-368-9423 or dgruszecki@pe.com