Month: March 2014

Complete Auto Loans Releases Article Offering Tips to Car Owners on …

Complete Auto Loans offers tips to car owners on whether or not they should refinance their cars.

(PRWEB) February 26, 2014

Complete Auto Loans has just released an article giving advice to car owners to help them decide whether or not to refinance their cars. A lot of car owners are wanting to get better deals on their cars, or to lower their monthly fees. However, a new car loan is not always the best way to deal with money issues, as it can be damaging to car owners in the long run. The article can be found here.

The first piece of advice that Complete Auto Loans offers to car owners is to look at the going interest rates on new car loans. If the current interest rate car owners have on their loans is better than the going interest rate, then refinancing would be harmful, not helpful to car owners.

The second piece of advice that Complete Auto Loans offers is for car owners to look at how much they will save in the long run. The longer car owners extend their loans, the more they will have to pay in interest, regardless of their monthly payments. Unless drivers are unable to make their current payments, they should refuse any plans that increase the amount of money they will be losing in the long run.

And finally, Complete Auto Loans reminds drivers not to get a car loan that will last longer than their cars. Citing Dave Ramsey, they state that your brand new car will lose 25% of its value the moment you drive off the car lot. In 4 years, you car will have lost 70% of its value. With cars depreciating so rapidly, it is unwise for drivers to get car loans that will outlive their cars.

Complete Auto Loans is an internet-based auto lender that lends to a broad group of the population without basing lending decisions on demographics or location. Complete Auto Loans subscribes to the theory that all borrowers are equally worthy of getting a car loan, and that interest rate decisions should be solely based on whether or not individual lenders have an employment history that is substantial enough to justify the value of the loan. Complete Auto Loans is also in the forefront of the move away from the FICO score as a credit gauge, and towards a more comprehensive evaluation of credit-worthiness that takes into account more than just the quantifiable histories of borrowers.

For the original version on PRWeb visit:

VW Bank Asks EU to Make Debt Backed by Car Loans New Clas

Volkswagen Financial Services AG,
which provides financing for cars, is calling on policy makers
in Brussels to allow securities supported by the loans to be
included in banks’ calculations of liquidity.

“We’re asking for automobile asset-backed securities to be
made essentially into their own asset class,” Volkswagen
Financial board member Michael Reinhart, who is responsible for
risk management, said in an interview in Frankfurt today.

The European Commission is considering which assets should
be included in a liquidity coverage ratio, which requires banks
to hold a certain amount of assets that can be sold quickly in a
liquidity squeeze. Brussels is basing the rules on a plan
developed by the Basel Committee on Banking Supervision, which
doesn’t allow banks to include securitizations other than
residential mortgage-backed securities in the calculations.

About one-third of VW Financial Services’ financing comes
from selling automobile asset-backed securities to investors
including banks. The company sold about 9 billion euros ($12.4
billion) of the debt last year.

If the securities don’t count fully toward a bank’s
liquidity requirements, it will make them less attractive, since
they prefer to hold assets that will also help them meet
liquidity laws, Reinhart said.

Additionally, the insurance regulation framework Solvency
II will probably hurt demand in the coming years since insurers
will have to set aside more capital for the securities than for
covered bonds, he said.

To contact the reporter on this story:
Shane Strowmatt in Frankfurt at

To contact the editors responsible for this story:
Frank Connelly at
Mark Bentley, Steve Bailey

Investing for Gen Y: 5 Rules to Remember

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Free financial planning seminar

Warren County Habitat for Humanity is partnering with Thrivent Financial to offer a free financial planning seminar on March 30 at 2:30 pm

In this one-hour seminar on Financial Planning Basics, participants will learn:

? How to construct a budget and the importance of establishing an emergency fund

? Credit fundamentals

? Basic investment concepts, including risk tolerance and the difference between pre-tax, after-tax, and tax-deferred investments

? Basic estate planning concepts

Participants will also receive a free workbook created just for this presentation.

The workbook contains key information, worksheets, and questions to assist in remembering important points from the seminar. The seminar will be held at the Warren County Habitat for Humanity Office located at 31 Belvidere Ave. in Washington.

Those planning to attend are asked to reserve their spot by contacting Thrivents Erik Henriksen at 908-849 4832 or emailing him at

Open communication important for college financial planning

(NEWS CENTER) — March and April are college acceptance season and finances often play a large role inthe decision process.

Its only fair before the child enrolls in college for them to know what the family can afford, said Sarah Halpin, Certified Financial Planner professional of The Danforth Group of Wells Fargo Advisors in Portland.

Halpin said there are three steps toward making a decision and planning for the future.

1. Be Prepared. Get organized and prepare a summary ofthe familys financial situation to determine what the family can realistically afford. Calculate the amount of discretionary monthly income available after all normal living expenses and parents retirement savings to determinehow much the family can pay toward tuition payments or student loan payments. Halpin said be realistic and dont compromise retirement savings.

2. Look at Family Finances Together. Schedule a meeting time, the student to review college costs and the family finances. Have he student be accountable for gathering college financial information such as, any awards and student aid if they have been already accepted andfiled theFAFSA, along with a notebook and calculator. After explaining what the parental contribution, subtract that along with any scholarships and grants from what each college would cost per year.

3. Make a Game Plan. Work together as a team to come up with options that wont adversely affect the familys finances. Check out the student loan calculators at sites such to see detailed monthly payment calculations. Make sure thatthe student understands the impact of student loan payments and how after graduation these payments will need to fit in with their new budget and expenses such as rent, food, utilities andcell phones.Its important to carefullyevaluate the pros and cons of applying for more financial aid or starting out at a lower cost school.

The Budget Makes Financial Planning Even More Necessary

Budget changes mean the need for sound Financial Planning has never been greater, the IFP says

The changes to the pension options for large numbers of people who are at or in retirement which were announced in this weeks budget statement are indeed momentous. Whilst the Institute of Financial Planning (IFP) agrees that it is good for consumers to be offered choice and flexibility in planning their retirement, including the prospect of a guaranteed lifetime income provided by an annuity, it is vital that the correct choice is made.

George Osbornes reported comment that People who have saved throughout their lives, saved for a pension, these are responsible people who are capable of making decisions with good advice about their future, cannot be argued with. However the lsquo;with good advice part of that sentence is critical. More work is required to define what lsquo;with good advice actually means and IFP will add this to our ongoing discussions with FCA and MAS. It may be a great burden to many people to have to make this decision and while face to face impartial advice sounds like it should be ok, face to face impartial advice doesnt necessarily mean good advice. Given the limited budget of pound;20m a year that has been announced in relation to this lsquo;good advice, we are concerned that, with c. 320,000 individuals retiring every year, the c. pound;64 per face to face meeting will not result in a regulated, expert-led planning process that delivers what consumers need in relation to their long term plans.

The moves to simplify the ISA rules and increase annual contribution limits are very welcome, although they increase the needfor consumers to understand the different asset allocation options open to them, with the risk/return discussion to the fore. Consumers need help to understand the different types of risk and the implications they may have on their financial situation. This is especially so in a low interest rate environment given the potential this brings for reductions in the real value of assets.

IFP maintains that planning and saving for the future is most effectively carried out with a set of clear goals having been established. Also, reviewing progress towards these goals should be a regular event and not a single moment in time. Advice at a single moment in time raises the spectre of further mis-selling or mis-advice if it is not facilitated by suitably qualified and regulated individuals. In this context, we need to be clear whether the lsquo;face to face impartial advice will be fully regulated advice or not.

Steve Gazzard, Chief Executive of the IFP, said, lsquo;These changes mean that ongoing Financial Planning advice provided by Certified Financial PlannerCM professionals and by Accredited Financial Planning FirmsTM has never been more important for those consumers approaching retirement. The Budget changes give consumers the ability to access their accumulated savings and investments much more flexibly in future. However, the need for them to understand the long term implications of such decisions is essential. The process a Financial Planner takes clients through, which includes cashflow forecasting and various lsquo;what if scenarios, supports this understanding in a way that a single moment of time piece of advice can never achieve.

Contact :

Sue Whitbread Communications Director (

Tel. 01179 452470

Mobile. 07854 072 088

Steve Gazzard Chief Executive (

Tel 01179 452470

Think before buying ID theft protection

With all the news recently about data breaches at major US retailers Target, Neiman Marcus, Michaels many consumers might wonder if they should subscribe to an identity theft protection service.

The short answer is, probably not, if your only concern is a thief fraudulently using your payment card information. Typically, thats not a big deal, and you wont lose any money.

Lives left in tangles by ID theft

STOCKTON – When is a woman happy about her purse being stolen? When it leads to the prevention of a far worse crime.

As she was reporting the theft of her bank card to her local credit union last week, Cathy – not her real name – was informed that a prior request had been made to issue a duplicate of her bank card. This confused Cathy, because she had never ordered a second card.

Whats worse, she also learned that charges were being made on her card, including $1,295 at a Stockton Best Buy electronics store at the same time she was in the sauna at her gym. Had she not discovered this when she did, she fears her bank account could have been emptied.

The victim in this case, a 35-year-old registered nurse working for a public agency, spoke on condition of anonymity since she is the victim of identity theft as a direct result of the recent surge of mail thefts plaguing Stockton neighborhoods.

Cathy is convinced because of the timing of events that it is the mail thief, and not the purse snatcher, who fraudulently used her bank card.

A second victim was not so lucky. Mary – also not her real name – was unaware that someone called her major national bank to order a duplicate bank card. Unfortunately for Mary, the criminal apparently stole the duplicate card soon after it arrived in her mailbox and started using it. Before Mary could do anything about it, her checking account was overdrawn.

Mary, 45, is a single mother and also a registered nurse who works the overnight shift. She was not previously acquainted with Cathy, but both live just blocks apart in north Stockton neighborhoods that have suffered a plague of mail thefts and mailbox break-ins in recent months.

Cathy first became a victim when her group mailbox that provides 12 individually locked boxes for neighbors was busted open sometime during the second or third week of January. She didnt know what mail, if any, was stolen at that time, and she didnt think much about it until a month later.

On Feb. 16, Cathy parked in the lot outside her gym. When she came out to her car about an hour later, she discovered that her purse containing her wallet had been stolen from the locked trunk. Thats when she contacted her credit union to start monitoring her missing bank card for fraudulent activity and was informed that another card had recently been ordered and mailed to her home address.

Adding to the confusion, earlier this year Cathy had been informed by her financial institution that her card would be automatically replaced due to the massive security breach last fall involving 70 million Target customers nationwide. So Cathy was expecting and did receive a new bank card in the mail, but it turns out that card was the one that had been fraudulently ordered. The bank held up sending out a third card – the legitimate one – after Cathys purse was stolen.

Cathy still feels violated.

My Social Security card, my driver license, my nursing license, credit card, health insurance – I am so paranoid now. My whole life is in that wallet. Now Im worried about my Social Security number and my identity being used, she said. I am living in fear every day.

But Cathy believes that fate, in the body of the purse snatcher, had a hand in protecting her from even more heartache, such as that suffered by Mary.

Because of her work schedule, Mary didnt always get to her unlocked mailbox – grouped with other unlocked mailboxes – every day. When she did collect her mail, she noticed several times last month the door was left open. During one period, she had no mail for three straight days.

This is very unusual for it to be empty. I havent gotten my W2 earnings, my mortgage taxes and other things for taxes. I am alert now on my mail, Mary said. Unfortunately, her vigilance came too late.

I am really, really afraid now these people have all my information, what Ive earned in a year – and I have nothing, she said.

Thats because, what Mary learned to her horror starting around 1 am during a lunch break from work, was that someone using a duplicate bank card was going on a shopping spree along Trinity Parkway and other north Stockton locations.

When Mary went to use her debit card, it was declined. She knew she had $700 in her account, so she called her bank and was told her account was overdrawn by $47. When she went online, she saw charges for Walmart in the amounts of $483, $108 and $67. There were more charges later that night – $75 at a minimart/gas station, a video rental and, finally, at 4:35 am two charges at a fast food restaurant for $15 and $6.

And, Mary said, although her bank assured her they canceled her card when she called at 1 am, the criminal accessing her account had managed to get her card issued with a different account number. And that new number had not been canceled. It was used until Marys account was overdrawn by $212 before it was finally declined for good.

Mary said she learned over the course of many days and dozens of lengthy phone calls that the criminal who ordered a new card in her name had told her bank there was fraudulent activity on the debit card Mary was using.

After Mary reported the fraud to police, she ran into two bicycle patrol officers who told her that they, too, had been victims of similar identity theft.

This whole thing is really crazy. Its just a big mess, she said.

The criminal or criminals responsible for Marys situation also managed to go online and change the user name on her online banking account so she could no longer access her information.

For several days before Marys paycheck was electronically transferred into her now-compromised account, she had no cash for gas or groceries for her family.

Her bank has restored some of the fraudulent charges against her account and has assured her they will restore them all once the investigation is complete. But in the meantime, Mary said last week, My life is on 72-hour hold. Ive just been so scared wondering who is doing this to me, she said.

Jeff Fitch, a spokesman for the US Postal Inspection Service, said the crimes committed against Cathy and Mary show a certain level of sophistication, but they still remain crimes of opportunity.

This is one where they are able to turn a profit, to get some money. The real key to these investigations is reporting these incidents to police and to our office as well. The fact is the clues are critical information for the postal inspectors and detectives in their investigation, even if it is 30 days, 60 days after the fact, Fitch said.

Its something we see, and we understand the amount of work faced by the victims to undo the damage by these mail thieves, he said.

To report a crime involving the mail or a mailbox – a federal felony punishable by up to five years in prison and a $250,000 fine – contact local police as well as the US Postal Inspection Service at (877) 876-2455; online at; or obtain a theft complaint form at any post office.

Contact reporter Joe Goldeen at (209) 546-8278 or Follow him at and on Twitter @JoeGoldeen.

Small Business Loans: 3 Tips for Veterans

When military veterans return home from their service, one of the first decisions they have to make is what career path they want to pursue as a civilian. Entrepreneurship is an enticing option for many vets, as it allows them the freedom to be their own boss while using transferrable military leadership skills.

Veteran entrepreneurs are on the frontlines, not unlike they are in the military, said Jim Salmon, vice president of business services at Navy Federal Credit Union. Theyre in charge of their own destiny, taking control of their direction and taking chances when they have to. They can leverage a lot of their military experiences and strengths to succeed [in business].

If youre a current armed-forces member or veteran and are thinking about starting your own business, you may have considered applying for a small business loan to help finance your venture. Loan experts and military entrepreneurs shared their advice for surviving the loan-application process as a veteran. [Top Jobs for US Veterans]