Quick Look at Common Factors that Affect Car Insurance Rates

When my insurance is about to expire, I always make it a point to still shop around and evaluate in advance the quotes of the car insurance rate near me. That way, I can easily decide whether to simply renew my existing insurance coverage or take out a new policy from a different provider.

Generally, car dealers throw in an auto insurance policy as if it’s a standard aspect of the car-buying deal when asking buyers to sign ownership documents. Actually, if it’s your first time to buy a car, you should have awareness that you can exercise the right to choose your car insurance provider.

I suggest that similar to what I do, look for the most affordable comprehensive car insurance in your area so you’ll know if your car dealer is putting forward the best possible insurance coverage. Otherwise, you could end up paying monthly insurance premiums that sharply impact your budget

Yet when checking out car insurance rates for comprehensive coverage, be in the know that quotes are based, not only on the brand or make of your car but on several different factors as well.

The Most Common Factors that Can Affect the Cost of Auto Insurance Coverage

The first in the list of course is the car with which you seek for insurance coverage. A new car represents road worthiness and several safety features because they can reduce potential costs of repairs and damages when figuring in road mishaps.

However, a variable of this factor is the possibility of car theft. Moreover, the quality of the car you drive can still be impacted by the following:

Driving Record – Needless to say, a poor driving record indicates high risk, which makes it reasonable for the insurance providers to quote a higher rate. On the other hand, new drivers who naturally do not have a car driving history, can also expect to receive higher quotes.

Age – Insurers consider mature and experienced drivers as low risks, as opposed to young adults aged 25 years old or below.

Gender – Generally, insurance companies regard female drivers as less of a risk than male rivers. Mainly because recent statistics show that fewer female drivers were involved in serious car accidents when compared to male drivers. Statistical data also show that only a few women commit serious infractions like Driving Under the Influence (DUI) of alcohol and/or drugs, hit-and-run incidences, or speeding.

Frequency of Car Use – Regardless of age, gender, make of a car and driving history, the frequency with which a driver uses the car can also have an impact on a car insurer’s calculation of risks. Those who drive their cars occasionally denotes fewer exposure to chances of figuring in car accidents.

Location – Residing in areas where there are higher incidences of car theft, vandalism and road accidents are aspects considered about locations. Not a few insurers include locations on where you regularly park your car, or where you usually pass through, as important risk factors. Yet these can be offset if the car, the garage or parking lot has reliable anti-theft systems.

Recently, the vulnerability of a location to serious weather conditions as a result of the climate change phenomena has become an emerging risk factor when it comes to location.

Take note that those mentioned above are only the most common. Insurance companies also consider state laws, a car owner’s credit score, medical history, involvement in lawsuits and other similar factors that could impact a driver’s physical or mental well-being.

Can You Use Personal Loans For Business Purposes?

Listed on långuiden.no/smalan-pa-minuttet/ are the recommended financial institutions in Norway that offer small loans on the minute. These small loans range from 1,000 NOK to 50,000 NOK and could go even higher depending on the bank. The payment duration of the loans could be from 1 year to 15 years or 1 month to 180 months depending on the loan amount as well as the terms and conditions of the bank.

These small loans per minute on långuiden.no/smalan-pa-minuttet/ have become very popular not only in Norway but in many places around the globe as they are very accessible and where the requirements needed by the lender for the borrower to qualify and be approved are only a few. Many opt for such loans as the process to be granted one is easy and quick.

What Are Small Loans?

Small loans are personal loans. These are money borrowed from lenders or financial institutions for various purposes. These loans are repaid through monthly installments at a given span of time, usually 2 to 6 years. This could take even longer (or shorter) depending on the circumstance you’re in as well as how diligent and responsible you are at making your monthly payments. While taking out a small loan might appear frivolous for “personal reasons,” a small loan could be very helpful and useful as long as you could keep up with the monthly payments.

Most small loans are unsecured. This means that a collateral isn’t necessary. Apart from this, there are only a few requirements needed to apply, qualify and be granted one. Since the process of obtaining such loan is easy and quick, loan options appeals to many individuals. However, a major concern for unsecured small loans are their interest rates which are much higher compared to secured loans. This is so because lenders are more at risk than the borrower.

Personal Loans For Business Purposes

Although it is imperative to gingerly take into consideration your financial circumstance prior to getting a loan, small personal loans, at times, is the best option to fund your expenses especially if you are in immediate need of funds. Among the major reasons as to why people opt for personal loans are for debt consolidation, home remodeling or renovation, emergency expenditures, moving costs, for furniture or appliance purchase, or for funding a trip.

While small personal loans could be used for just about anything, many would ask if it could be used for business purposes. In most instances, yes, personal loans could be used for business purposes as most lenders allow you to make use it for practically any purpose including funding a small business or for business expenses. But some lenders have certain restrictions as to how you use your loan, so it is important to check on the terms and conditions of the lender.

Advantages of Personal Loans for Business

Whether or not a personal loan seems sensible for your business, this will rely on a multiplicity of factors which includes your personal credit history as well as how much you intend to borrow. Let’s have a look at the advantages and disadvantages of personal loans for business to see if such loan is for you:

  • Compared to business loans, it is much easier to meet the requirements for personal loans since the lender relies on your personal finances as well as credit history. This is then a good option for individuals wanting to start a small business who lack the qualifications for traditional business funding.
  • Repayment for personal loans are at monthly installments making it easier for you to make a budget compared to weekly or daily repayments that numerous business loan lenders necessitate.
  • You can be flexible with how you make use of your personal loans. This means you could divide your funds for both business as well as personal expenditures.

Disadvantages of Personal Loans for Business

  • Unlike business loans that could reach up to a million dollars, personal loans usually amount to $40,000. While there are lenders who offer up to $100,000, there are only a few of them and may be difficult find.
  • If you aren’t able to pay back the loan, have missed or default payments or have late payments, your personal credit report could be ruined.

There are numerous reasons as to why many apply for a personal loan, but whatever your reason may be and your circumstance is, it is imperative to wisely and responsibly manage your finances s well repay it in due course.

Three Useful Tips For Billing and Accounting

Many businesses get anxious when they think about invoicing and bookkeeping – although it is only through the paid invoice that the wages earned for the service provided can be obtained. This may seem complicated but really, it is not. Here 6 important tips for billing and accounting.

Record Keeping Tips for Small Business Owners

1. Write the invoice correctly. The invoice documents the service performed, delivery and payment terms. In most cases, customers are entitled to it. For example, you can refuse payment under VAT law until you have a proper invoice. But when is an invoice “correct”?

For private customers, invoices are particularly important in order to deduct certain services from the tax, to safeguard any guarantee claims or to secure other evidence. This does not result in any special requirements for the content – apart from the fact that craftsmen should report the proportion of work separately.

The situation in the business environment is different. The input tax deduction plays a major role here – and it only exists if the invoice complies with tax law requirements.

While the tax office examines the input tax deduction meticulously, the requirements for the deduction are less strict as operating expenses. It can happen that an invoice is excluded from the input tax deduction, but is nevertheless recognized as an expense.

2. The small business regulation is not always sensible. Small businesses can be exempted from VAT on request. The small business rule according to the sales tax law is linked to two conditions:

sales in the current financial year are expected to amount to a maximum of EUR 50,000 and
sales in the past financial year were below 22,000 euros.

The emphasis is on the “and” because both conditions must be met. Start-ups can estimate the expected sales in the year of foundation. But be careful, if you start in the middle of the year, the tax-free amount will decrease proportionately. The small business rule eliminates VAT advance registrations and VAT returns. Determining profits is also easier. After all, there is no need to distinguish between gross and net. In addition, small businesses in business with private end customers – who are excluded from the input tax deduction – can offer cheaper services without tax.

On the other hand, there is no input tax deduction. This increases operating costs. Many small business owners also fear that the invoice information could have a negative impact on their image – especially in a business with corporate customers.

3. Advance registration for VAT: meet deadlines! There are taxes that the tax office is after like the devil behind the holy water. Sales tax falls into this category. If you do not submit the advance tax return on time, you will quickly be charged hefty late payment surcharges.

In principle, all companies, self-employed, and freelancers are affected. The only exceptions to VAT are exports, certain health services, real estate, and financial transactions. Those who do not fall into this category or who are exempt from VAT as a small business owner must collect and pay the VAT for the State.

As part of the advance tax return, companies explain to the tax office the VAT burden as the difference between VAT and input tax. As a rule, it must be drawn up on a monthly basis – and must be received by the tax office by the 10th of the following month at the latest.

Those who find it difficult to meet the deadline can save themselves four weeks more with an application for a long-term extension. In return, however, a special advance payment must be made.

If you are looking for topics on business loans and loans for average credit, check out the link.

Diversifying with Derivatives as Stock Markets Remain Volatile

Diversifying one’s investment portfolio by trading with derivatives has become the most repeated financial advice in light of the volatile stock market conditions. There are numerous trading platforms that offer a wide range of investment assets, many of them licensed and offering practice trading platforms to those wading into derivative investment for the first times.

Checking out reviews is only the initial step in finding out which trading platform to select. Yet the best way to truly find out if diversifying with derivatives is sound advice, is to try out several demo or practice trading platforms and compare outcomes using the features, functionalities and tools of brokers.

If there is one broker who has received mostly favorable reviews for its trading platform,we can say for sure that it is IQ Option. The positive feedback gathered on every IQ option review we’ve read, mentioned that the unique, yet easy-to-use technical analysis tools make this broker’s trading platform different from the rest.

That only proves that not all online trading platforms are the same. The availability of functional tools that a financial trader can use in analyzing the different investment assets and in formulating strategies in their trade is a rare find.

IQ Options Technical Analysis Tools

While trading platforms create charts and diagrams, the key to a successful trading is still the ability of the trader to analyze and interpret data. IQ Option helps clients in performing the processes efficiently, by incorporating the following technical analysis tools:

First off, there is a drawing board that comes complete with markers, serving as handy tools for creating and placing markers on graphical analysis and in locating chart patterns. Together with the related indicators appearing in the trading platform, the drawing tools are great to use in working out strategies and analyzing patterns.

Another excellent feature are the indicators that can assist traders in making accurate predictions about price movements. IQ Option actually offer four indicators:

Bollinger Bands – Seasoned financial traders are familiar with this type of indicator, which works by creating borders within which prices move; whilst using data gathered from standard deviations and moving averages. Within those borders, traders can look for signals that indicate Call or Put options; depending where the price breaks, either at the lower or top limit.

Moving Averages – Through this platform, newbies to derivatives can have a clear perception of how moving averages work and of its indication in relation to the diagram. Based on the average price of an asset for a pre-set time interval, a diagram crossing the moving average signifies a call option. Financial trading experts say that the longer the time interval set for the moving average, the greater the potential of signal accuracy. . .

Relative Strength Index (RSI) This indicator is applicable only in analyzing candlestick charts. Still, it’s one of the most popular worldwide because this indicator reflects both the robustness and the size of price changes. However, the RSI appears in a separate window just beneath the chart, instead of appearing on the analysis chart.

Alligator This indicator comprises three (3) moving averages of three different time frames. Traders take note when all three indicators start moving in a single direction because it means a trend has started, which they need to follow.

Having all those functional analysis tools in a trading platform that tracks assets, commodities and indexes, will enable any newbie to gain confidence when giving derivatives trading a try.

7 Factors That Influence The Success Of Every Business financing

For a successful application for corporate finance, seven corporate finance success factors are decisive. Whether an application for business credit is filed with a bank, or venture capital is requested from an informal investor, a private equity fund, crowdfunding or a credit union, it is precisely these success factors that pave the way for corporate finance. These are plan, experience, knowledge, perseverance, flexibility, passion and commitment. What that means for a successful credit application becomes clear.

Business Loan Application Process

1. Business financing plan

The application for business financing is always dependent on a plan. Not only a business plan but also a financial plan. That financial plan must meet certain conditions. Different financiers apply to different requirements regardless if it is a no-guarantor loan or a guarantor loan. In essence, it means that there must be sufficient profitability. That seems obvious. But in practice, financial plans prove to be insufficient. After the investment, the profitability appears to decrease. Not a good starting point for corporate credit!

Such a financial plan must above all be based on realistic assumptions and estimates of the prices such as the following:

  • market size
  • market shares
  • costs for producing and delivering the product (or service)
  • the general costs that are necessary to get the business model up and running. keeping, etc.

Within a conservative (cautious) financial forecast, there must be sufficient room to meet the financial obligations. But the financial impact must also be related to the existing market conditions. What are the market prices of competitors, what are realistic cost levels, etc? And: where do they appear?

The nature of the business case is of course also important here. Is this an existing company in a market with undiscovered market potential? A company where a good benchmark is available? Or are we talking about a ‘startup’ in a risky and dynamic business environment with an international market reach? That makes a big difference between the different types of financiers. A credit bank is more likely to be convinced based on the proven financial performance over the past 3 years. While a risk financier is more stimulated by market potential and scalability.

Many informal investors only step into a new business model with – potentially – 5 times better products or services. Or: a cost-effective proposition: that costs 5 times less for a comparable product. A business model with only a marginal or comparable financial performance does not have to rely quickly on support from risk financiers for a starting company. Because experience shows: gradually there are setbacks. Then additional costs and investments must be made. With a marginal business case, the return on investment ROI is ultimately too tight. With all the financial problems that entail.

2. Knowledge for business credit

It helps if a business financing applicant has the right knowledge. And this knowledge also displays in a good way. Knowledge of the products, the markets, the competitors, the trends, the most important suppliers, the customers, the opportunities and the threats. Thorough knowledge arises from experience but also preliminary studies. A financier entrusts his money to entrepreneurs with solid preparation. Who has prepared well? Who has studied the market? Who can take timely measures based on that knowledge? Who can adjust the business case? The ability to interpret the dynamics of the market and to be able to develop the right steps from there is an important plus.

3. Display experience for business financing

For a business credit, displaying the right experience is a big plus. Experience with a comparable role in business. Is the correct commercial, operational and financial experience available !? And if not: how is that solved? And is the experience also within the same or comparable industry? Leading a development project for innovative technical products is different from running a construction company or a transport company.

4. Perseverance

But the perseverance of the credit applicant is also essential. And also to what extent is that supported by his team. The road to success has many obstacles. The business goals are on paper directly behind the horizon. But there are many obstacles on the path there. And they must be taken. If things go wrong, management must have the resilience to get through it. No business financing without perseverance. Because the provider of business financing does not want an active role in business operations.

5. Passion for corporate credit

Passion also counts firmly. The passion for the product or service is crucial when applying for business credit. An absolute confidence in a distinctive position in the market. Added value for customers and a decisive distinctive character compared to the existing and competitive offer. And the passion shown is also contagious: the financier is positively influenced. The passion is carried as fast. And if the financier feels that way too, then the customers and suppliers will also notice it. The basis for solid profitability has then been laid.

6. Flexibility

Flexibility is an essential basis in the borrower’s thinking and actions. Perseverance and passion are good qualities. But an open attitude to the environment and the ability and willingness to bend along with new developments is just as important. Because in the period between the start and a mature operation, the internal and external operating conditions change. This almost always affects the flexibility of companies. If the original plan is maintained too persistently, the right opportunities will not be used.

7. Commitment for business financing

The borrower’s own commitment is always expressed by a substantial contribution of its own financial resources. Some applicants for business financing say with too much ease: that investor only has to do 100%. We contribute our knowledge and experience. That is a nice idea. But no chance with the application for working capital. It is the question of the tear in the pants at a so-called discomfiture.

Summary

The seven success factors for business financing are plan, experience, knowledge, perseverance, flexibility, passion and commitment. Evaluate your own score on all these aspects. Where are the blind spots and points of attention? The preparation of an application for business financing therefore requires a fair reflection on these success factors. This helps considerably to build the right bridges to corporate finance.