Scientific Theories – Michigan Paranormal Encounters http://michiganparanormalencounters.com/ Tue, 27 Sep 2022 17:56:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://michiganparanormalencounters.com/wp-content/uploads/2021/06/icon-2.png Scientific Theories – Michigan Paranormal Encounters http://michiganparanormalencounters.com/ 32 32 How to Pay Transgender Surgery Costs – Forbes Advisor https://michiganparanormalencounters.com/how-to-pay-transgender-surgery-costs-forbes-advisor/ Tue, 27 Sep 2022 17:56:06 +0000 https://michiganparanormalencounters.com/how-to-pay-transgender-surgery-costs-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Transgender surgeries, also called gender affirmation or gender confirmation surgeries, are medical procedures you can undergo to affirm your gender identity. The cost of these types of surgeries is often high and […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Transgender surgeries, also called gender affirmation or gender confirmation surgeries, are medical procedures you can undergo to affirm your gender identity.

The cost of these types of surgeries is often high and health insurance coverage may vary by policy. “Even if a procedure is covered by insurance, there are still maximum deductibles and reimbursements,” said Wynne Nowland, CEO of Bradley & Parker, who made the transition at 56. Cosmetic-only surgeries might not be covered by insurance at all.

The good news is that several financing options are available to help you pay for the procedures. Some organizations even offer grants and scholarships that can help pay for surgery costs.

How much does transgender surgery cost?

The cost of transgender surgery can vary depending on the provider and the type of surgery you choose to have. For a female-to-male transition, masculinizing chest surgery (also called top surgery) can cost between $3,000 and $10,000, while chest surgery for a male-to-female transition can cost between $5,000 and $10,000. according to Longwood Plastic Surgery.

Lower surgeries, such as vaginoplasty or phalloplasty, can cost $25,600 and $24,900, respectively, according to estimates from the Philadelphia Center for Transgender Surgery. Additional procedures may increase transition expenses from there. Apart from the actual cost of the surgery, other hidden expenses may also arise.

For example, you might need help at home during your recovery if you don’t have a good support system, according to Nowland. There may also be travel and hotel costs, which are usually not covered by insurance. Nowland says the best way to prepare for surgery is to contact insurance to discuss coverage and plan to save the funds you’ll need to continue.

If you’re considering borrowing money to pay for surgery and recovery costs, here are four options to consider.

4 Ways to Fund Transgender Surgery Costs

Personal loans, credit cards, medical credit cards, and home equity loans are products you could use to pay for transgender surgery costs over time. Here’s what you need to know about each:

Personal loans

Personal loans are generally unsecured installment loans that provide a lump sum that you can use for almost all legal personal expenses, including medical expenses. Lenders can offer loans from $1,000 to $100,000. However, your credit and income may affect how much you can borrow and your interest rate.

The average annual percentage rate (APR) for a five-year personal loan is 15.93% as of September 19, 2022, but rates can go up to 36% APR. The good news is that many lenders allow you to prequalify online for personal loans without a credit check, allowing you to compare rates and compare costs before you borrow.

Credit card

Credit cards give you access to a line of credit that you can use to cover medical expenses. You will then pay off the balance over time. While some credit cards have annual fees, many do not. Some credit cards even offer an initial APR of 0% for several months when you open a new account.

Standard interest applies after the interest-free period, but billing and repayment procedures during the interest-free period could be an affordable way to fund the bills. That said, credit cards are generally best for expenses you can pay off relatively quickly, as interest rates can be higher than personal loans. Therefore, maintaining a high balance over several years can be costly.

Medical credit cards

Medical credit cards are designed specifically for medical expenses and may be a financing option recommended by your doctor’s office.

CareCredit is a popular medical credit card that offers six, 12, 18, or 24 month interest-free financing plans on transactions over $200. There’s a catch though: if you don’t pay off the balance during the financing period, interest is charged retroactively from the time of your purchase.

For purchases of $1,000 or more, CareCredit offers extended financing terms of 24, 36, 48, or 60 months. The APR for the payment plans is fixed and ranges from 14.90% to 17.90%, depending on the amount you borrow and the loan term you choose.

Home equity loans or lines of credit

If you own a home, home equity loans and home equity lines of credit (HELOCs) are ways to borrow against the equity you have accumulated. Here’s how these two options work:

  • Home Equity Loans: A home equity loan is an installment loan that lets you borrow money in a lump sum, which you could use to cover transgender surgery costs. Homeowners are typically able to borrow up to 85% of their home’s equity, and loan terms can range from five to 30 years.
  • HELOC: These are lines of credit that you can draw on and repay with a variable interest rate. A HELOC might be a better alternative to a home equity loan if you have ongoing costs, as it will give you the ability to borrow only what you need and pay it back as you go.

The advantage of home equity products for medical expenses is that interest rates can be lower than unsecured personal loans because the collateral (your home) minimizes the risk to the lender.

However, since your house guarantees the transaction, you could lose your house if you fail to repay your loan. If the value of your house goes down, there is also a chance that you will suffer the house if you owe more on your mortgage and loan than the house is worth.

Can you get transgender surgery grants?

Several organizations offer grants to help with transition costs, including gender affirmation surgery, which is money you don’t have to pay back. The requirements for getting a grant can vary, but in some cases you have to prove that you have saved money on your own for the surgery to receive money. Here are some examples of organizations offering grants:

  • Jim Collins Foundation: The Jim Collins Foundation offers two scholarships. General Fund grants can cover all costs of gender-affirming surgery while Krysallis Anne Hembrough Legacy Fund grants can cover 50% of surgery costs for recipients that match the grant funds awarded.
  • point of pride: Point of Pride offers an annual scholarship-like program that provides financial assistance for gender-affirming surgery.
  • The Loft LGBTQ+ Community Center: Funds from the TransMission grant through the Loft LGBTQ+ Community Center are not enough to cover the full cost of the surgery. However, grants can be used to help pay for therapy, hormones, and other transitional expenses.

Tips for Paying Transgender Surgery Costs

As you develop a plan and explore ways to pay for surgeries, here are some tips to consider:

  • Check your insurance policy. Read the policy terms carefully and contact your insurer to find out which surgeries are covered. “Like all covered insurance procedures, expect to deal with some paperwork, but your patience will be worth it,” Nowland said.
  • Use a Health Savings Account (HSA) or Flexible Spending Account (FSA). Both HSAs and FSAs are tax-advantaged accounts designed to help you save money for medical expenses, which could include gender-affirming surgeries. You can make pre-tax contributions to both accounts from your salary if you set them up with your employer. If you create an HSA yourself, you can deduct the contributions from your tax return.
  • Consider crowdfunding. Crowdfunding consists of setting up a campaign to raise funds. If you prefer to keep medical procedures private, creating a campaign and asking for donations might not be the right way to go. But if you feel comfortable sharing your story, creating a GoFundMe or Fundly fundraising page could be a way to cover the cost of your surgeries. Bonfire is another site you can use to raise money by selling custom t-shirts.
  • Get support from family and peers. If you have friends or family who can gift or lend you money, it may be more affordable than taking out a loan from a bank, online lender, or credit union. .

How to save for gender affirmation surgery

Using a combination of funding sources is one strategy that could help you become less reliant on loans.

Different surgeons charge different fees, so compare prices to project costs. From there, you can determine how much you need to save and when. If you’re not using an FSA or HSA to save, consider storing your savings for surgery in a high-yield savings account so that your savings earn more interest than in a traditional savings account.

Some savings tools can make it easier to set aside. For example, banks often have recurring transfer features that you can set up to automatically transfer money from a checking account to your savings on a schedule. Additionally, there are savings apps like Digit, which can connect to your bank account, use an algorithm to review your cash flow, and automatically put money aside for you. Your savings can grow over time, so you can pay for treatment and surgery as you go.

Compare personal loan rates from top lenders

Compare personal loan rates in 2 minutes with Credible.com

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Personal loan rates have fallen more than 10%. Here are 4 steps to get the best rate https://michiganparanormalencounters.com/personal-loan-rates-have-fallen-more-than-10-here-are-4-steps-to-get-the-best-rate/ Sun, 25 Sep 2022 12:32:39 +0000 https://michiganparanormalencounters.com/personal-loan-rates-have-fallen-more-than-10-here-are-4-steps-to-get-the-best-rate/ Image source: Getty Images Need a loan? Now might be a good time to apply. Key points Personal loans are a great way to consolidate credit card debt, pay for home repairs, and manage unexpected large expenses. Currently, personal loan interest rates are more favorable for qualified borrowers. There are steps you can take to […]]]>

Image source: Getty Images

Need a loan? Now might be a good time to apply.


Key points

  • Personal loans are a great way to consolidate credit card debt, pay for home repairs, and manage unexpected large expenses.
  • Currently, personal loan interest rates are more favorable for qualified borrowers.
  • There are steps you can take to get the best interest rate, including improving your credit score, finding a co-signer, and shopping around with different lenders.

If you’re thinking about getting a personal loan, now might be the time to apply. From August 29 to September 3, average interest rates on three-year personal loans fell 10.04%, while the rate on a five-year loan fell 4.56%. When you take out a personal loan, you get a lump sum of money which can then be used for whatever you want. Personal loans can be a good way to fund credit card debt consolidation, home repairs/renovations, or unexpected expenses if you don’t have enough money to cover them. So what steps should you take if you want to get the best personal loan rate possible?

1. Work on your credit score

Paying attention to your credit score and improving it is number 101 in personal finance. As someone who is spending this year improving their overall financial situation, including their credit score, I can tell you that it’s not as daunting as it sounds. Getting and maintaining a good credit score boils down to a few actions anyone can take:

  • Check your credit score regularly. You can go crazy with the normal fluctuations in a credit score, so it’s not necessary to check every day or week, but it’s a good idea to use a consumer credit monitoring service to check your score, especially before using credit. Maybe you’re considering applying for a new credit card, buying a house, or in this case applying for a personal loan. Your credit score puts you in a range of numbers from poor to excellent, and this will determine the personal loan interest rate you qualify for.
  • Check your credit report at least once a year. It’s also a good idea to review your credit report (and you can access your credit report for free from all three major credit bureaus via AnnualCreditReport.com) to check for errors, such as old accounts that you’ve paid but still appear as open or overdue on your report. If you find any errors, you can file a dispute with the credit bureau that has it on file.
  • Pay your bills in full and on time. Paying your bills on time represents the largest percentage of your FICO score, at 35%. Personally, I’ve found it helpful to write a full month’s worth of bills at a time on a wall calendar, so I can cross off the bills as I pay them. There are many techniques for getting your bills and budget under control, so see what works for you.
  • Keep your credit utilization rate low. Your credit utilization ratio is the percentage of credit you have compared to the amount you use. For example, if you have a credit card with a limit of $5,000, but you carry a balance of $2,000, your ratio is 40% because you are using 40% of your available credit. It is generally recommended to keep this figure below 30%. Therefore, if you plan to apply for a personal loan in the near future, pay off some of your existing debt to lower your ratio.

2. Have someone else apply with you and co-sign the loan

If you’ve improved your credit score, but it’s still not high enough to qualify for the best loan rates on your own, you can ask someone to apply with you. This could be a spouse or family member with better credit. The other person’s credit and income will be considered along with yours, allowing you to get a better interest rate. However, co-signing a loan for someone else is a big risk, so don’t be offended if the person you’re asking says no. They put their finances on the line if they co-sign. And not all lenders will offer loans with a co-signer, so do your research.

Find out: These personal loans are the best for debt consolidation

More: Prequalify for a personal loan without affecting your credit score

3. Consider a secured loan

If your credit needs help, you may be able to get a more favorable interest rate on a personal loan by applying for a secured loan. Secured loans are secured by collateral that the lender can take and sell if you don’t repay the loan, to recover their losses. So if you need cash and can offer your car as collateral, you may be able to get an affordable loan. Just be sure to keep track of these payments, because you don’t want to lose your car or other collateral.

4. Shop

The final step to getting the best possible personal loan interest rate is to shop around with a group of lenders. A good place to start is to target the best lenders for your credit score level and see what they offer when it comes to interest rates. Many lenders have easy-to-use online pre-qualification tools that will be able to give you a rate without hurting your credit score (when you’re ready to make an actual application, the lender will do a thorough credit check, which will have a impact on your credit score). Sometimes lenders offer special promotions and discounts that you may qualify for.

If you need money, a personal loan can be a great way to borrow. But do your best to improve your credit score, consider all your options for loan types, and research the best deal before you borrow money.

The Ascent’s Best Personal Loans for 2022

Our team of independent experts have pored over the fine print to find the select personal loans that offer competitive rates and low fees. Start by reviewing The Ascent’s best personal loans for 2022.

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Research: Rating Action: Moody’s confirms BNP Paribas Personal Finance’s Aa3 ratings for deposits and long-term issuers; stable outlook https://michiganparanormalencounters.com/research-rating-action-moodys-confirms-bnp-paribas-personal-finances-aa3-ratings-for-deposits-and-long-term-issuers-stable-outlook/ Wed, 21 Sep 2022 00:02:55 +0000 https://michiganparanormalencounters.com/research-rating-action-moodys-confirms-bnp-paribas-personal-finances-aa3-ratings-for-deposits-and-long-term-issuers-stable-outlook/ Paris, September 21, 2022 — Moody’s Investors Service (“Moody’s”) today affirmed the Aa3 long-term deposit and issuer ratings of BNP Paribas Personal Finance (BNPP PF). Moody’s also affirmed BNPP PF’s P-1 short-term deposit and issuer ratings, Aa3(cr)/P-1(cr) counterparty risk (CR) ratings and Aa3/P-1 ratings. counterparty risk (CRR). . In addition, Moody’s confirmed the bank’s Baseline […]]]>

Paris, September 21, 2022 — Moody’s Investors Service (“Moody’s”) today affirmed the Aa3 long-term deposit and issuer ratings of BNP Paribas Personal Finance (BNPP PF). Moody’s also affirmed BNPP PF’s P-1 short-term deposit and issuer ratings, Aa3(cr)/P-1(cr) counterparty risk (CR) ratings and Aa3/P-1 ratings. counterparty risk (CRR). . In addition, Moody’s confirmed the bank’s Baseline Credit Assessment (BCA) of ba1 and Adjusted BCA of baa1 which incorporates three notches of affiliation support from ultimate parent BNP Paribas (BNPP, Aa3/Aa3 stable , baa1). The outlook for long-term deposit and issuer ratings is stable.

RATINGS RATIONALE

BCA and long-term ratings

BNPP PF’s BCA assertion of ba1 reflects the institution’s strong franchise as a specialist consumer finance company with significant market shares, primarily in Europe. BNPP PF consolidates most of the consumer credit activities of the BNPP group in its reporting perimeter such as France, Italy, Spain or the United Kingdom, but is also closely involved in the consumer credit activities carried out by other BNPP subsidiaries, such as in Belgium, Germany or North Africa. The BCA takes into account the relatively high risk profile of BNPP PF on its credit portfolio compared to its closest peers as well as the average of European retail banks. At the same time, asset risks are partly mitigated by BNPP PF’s geographic diversification; its focus on stable European operating environments for growth; and a gradual rebalancing of products in favor of less risky products such as car loans. Moody’s expects continued inflationary pressures to likely increase loan losses, although the rising proportion of auto loans is moderating downside risks.

The BCA also reflects BNPP’s modest profitability, which has been declining for the past five years, partly due to the very low interest rate environment in Europe. The pandemic also had a negative impact on loan production, due to repetitive containment measures. In addition, changing consumer needs required material investments to transform BNPP PF’s infrastructure. Moody’s expects the impact of rising inflationary pressures on bank spending, costs of risk and a reduction in loan production over the outlook horizon to somewhat offset the positive impact of the revision of prices on income.

The BCA also takes into account the strong dependence on BNPP for the financing and management of the liquidity of BNPP PF and takes into account the modest capitalization of the entity (the Common Equity Tier 1 (CET1) ratio is 10.2% end of 2021). Capital is optimized at group level and Moody’s expects capital retention to be commensurate with BNPP PF’s capital needs and support future growth ambitions.

BNPP PF’s baa1 Adjusted BCA assertion reflects Moody’s assumption of a very high probability of support from BNP Paribas. This is supported by (1) the strategic position of BNPP PF as the operational arm of the group for the group’s consumer finance activities, one of the core businesses of BNPP and several of its international subsidiaries; (2) The integration of BNPP PF into the management of the group, leading to very strong dependence and interconnections between BNPP and BNPP PF for capital, financing and asset-liability management.

Confirmation of BNPP PF’s Aa3 long-term deposit and issuer ratings reflects Moody’s view that BNPP PF would be included in BNPP’s resolution scope. BNPP PF’s Aa3 issuer and deposit ratings are therefore based on (1) its baa1 adjusted BCA; (2) the application of Moody’s Advanced Loss Given Failure (LGF) analysis at BNPP level, resulting in a three-notch increase in adjusted BCA, given the significant volumes of senior debt and junior deposits; and (3) an additional notch of increased government support, reflecting a moderate likelihood of government support.

Rating outlook

The ratings outlook for deposits and long-term issuers is stable, in line with the ratings outlook for BNP Paribas, also reflecting Moody’s expectation that BNPP PF’s stand-alone credit profile should be resilient to adverse effects. negative effects of the inflationary environment on the risks of its assets and profitability.

FACTORS THAT MAY LEAD TO IMPROVEMENT OR DEGRADATION OF RATINGS

BNPP PF’s BCA could be upgraded in the event of a significant and sustainable increase in profitability or capital, or a significant reduction in asset risk. An upgrade of the BCA will likely not result in an upgrade of its issuer and depository ratings as they will be constrained by BNPP’s ratings. BNPP PF’s issuer and depository ratings could be upgraded if BNPP’s ratings were to be upgraded.

The BCA of BNPP PF could be downgraded in the event of a material deterioration in the quality of its assets, its solvency or its liquidity and the funding support of its parent company. A downgrade of the BCA will not necessarily imply a downgrade of its issuer or depository ratings if it were concluded that BNPP’s support would remain very high. Finally, a downgrade in BNPP’s ratings would trigger a similar action at BNPP PF.

LIST OF AFFECTED RATINGS

..Issuer: BNP Paribas Personal Finance

Statement:

….Base credit rating adjusted, Baa1 confirmed

….Basic credit assessment, Confirmed ba1

….Assessment of long-term counterparty risk, confirmed Aa3(cr)

….Assessment of short-term counterparty risk, confirmed P-1(cr)

….Long-term counterparty risk ratings, confirmed Aa3

….Short Term Counterparty Risk Ratings, Confirmed P-1

….Long-term issuer rating, confirmed Aa3, outlook remains stable

….Short-term issuer rating, confirmed P-1

….Long-term bank deposit rating confirmed Aa3, outlook remains stable

….Short-term bank deposit rating, confirmed P-1

Action Outlook:

….Outlook remains stable

MAIN METHODOLOGY

The main methodology used in these ratings is the Methodology for Banks published in July 2021 and available on https://ratings.moodys.com/api/rmc-documents/71997. Otherwise, please see the Scoring Methodologies page on https://ratings.moodys.com for a copy of this methodology.

REGULATORY INFORMATION

For details on key rating assumptions and Moody’s sensitivity analysis, see the Methodological Assumptions and Sensitivity to Assumptions sections in the Disclosure Form. Moody’s rating symbols and definitions can be found at https://ratings.moodys.com/rating-definitions.

For ratings issued on a program, series, category/class of debt or security, this announcement provides certain regulatory information regarding each rating of a subsequently issued bond or note of the same series, category/class of debt, security or under a program for which ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a media provider, this announcement provides certain regulatory information relating to the credit rating action on the media provider and each particular credit rating action for securities whose credit ratings are derived from the support provider’s credit rating. For the provisional ratings, this press release provides certain regulatory information relating to the provisional rating assigned, and to a final rating that may be assigned after the final issuance of the debt, in each case where the structure and conditions of the transaction n have not changed prior to the final rating being assigned in a way that would have affected the rating. For more information, please see the issuer/transaction page of the respective issuer at https://ratings.moodys.com.

For all relevant securities or rated entities receiving direct credit support from the lead entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action , the associated regulatory information will be that of the guarantor entity. Exceptions to this approach exist for the following information, if applicable to the jurisdiction: Ancillary services, Information to be provided to the rated entity, Information to be provided by the rated entity.

The ratings have been disclosed to the rated entity or its designated agent(s) and issued without modification as a result of such disclosure.

These notes are solicited. Please refer to Moody’s Policy for the Designation and Assignment of Unsolicited Credit Ratings available on its website. https://ratings.moodys.com.

The regulatory information contained in this press release applies to the credit rating and, if applicable, the outlook or rating revision relating thereto.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis are available at https://ratings.moodys.com/documents/PBC_1288235.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the UK and is approved by Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the United Kingdom. . Further information on the UK endorsement status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

Please see https://ratings.moodys.com for any updates on changes to the lead rating analyst and Moody’s legal entity that issued the rating.

Please see the issuer/transaction page at https://ratings.moodys.com for additional regulatory information for each credit rating.

Olivier Panis
Senior Vice President
Financial Institutions Group
Moody’s France SAS
96 Boulevard Haussman
Paris, 75008
France
JOURNALISTS: 44 20 7772 5456
Customer service: 44 20 7772 5454

Alain Laurine
Associate General Manager
Financial Institutions Group
JOURNALISTS: 44 20 7772 5456
Customer service: 44 20 7772 5454

Release Office:
Moody’s France SAS
96 Boulevard Haussman
Paris, 75008
France
JOURNALISTS: 44 20 7772 5456
Customer service: 44 20 7772 5454

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3 key growth stocks for the upcoming new bull market https://michiganparanormalencounters.com/3-key-growth-stocks-for-the-upcoming-new-bull-market/ Sun, 18 Sep 2022 14:00:00 +0000 https://michiganparanormalencounters.com/3-key-growth-stocks-for-the-upcoming-new-bull-market/ With inflation numbers still hot, it’s hard to see the Federal Reserve easing its tightening stance on the economy. But some market experts are pointing to a slowdown in August inflation data relative to July as a sign that we may have already seen the bottom for the S&P500and that better days are ahead for […]]]>

With inflation numbers still hot, it’s hard to see the Federal Reserve easing its tightening stance on the economy. But some market experts are pointing to a slowdown in August inflation data relative to July as a sign that we may have already seen the bottom for the S&P500and that better days are ahead for investors.

If a bull market returns, fintech stocks could be among the first sectors to recover. Investors hoping to profit from this might seriously consider Affirm Assets (AFRM -7.04%), To block (SQ -6.20%)Where MasterCard (MY -0.58%) shares. These top three fintech stocks are valuable additions to the growth stock portion of an investor’s portfolio.

1. Affirm gets a boost from its huge partners

Anthony Di Pizio (Affirm): Buy Now, Pay Later (BNPL) is a relatively new variant of installment loans that has exploded in popularity over the past few years. This is disrupting traditional consumer credit products like credit cards, in part because providers like Affirm are using technology to appeal to younger consumers. It’s popular, in part, because it charges interest rates that vary based on credit scores instead of charging a fixed, all-in (often high) rate.

Affirm’s BNPL platform integrates with its merchant partners’ online stores, so customers don’t even need a credit or debit card or bank approval to fund their purchases. When they navigate to the checkout of participating sellers, Affirm will appear as a payment option and fund the transaction with just a few clicks. It’s a level of convenience designed for the modern consumer, with a simple repayment structure that often spans four equal installments and no late fees or penalties.

Affirm is a leader in the BNPL industry, and it has a few successful technology partners to back it up. The company has deals with e-commerce giants Shopify and Amazon be their exclusive BNPL supplier. Shopify merchants can now add Affirm as a payment option for their customers at checkout, and they accept the offer in bulk. At the end of fiscal 2022 (ending June 30), Affirm had 235,000 merchants in its ecosystem, up 710% year-over-year driven primarily by its agreement with Shopify.

Its number of customers exceeded 14 million, almost doubling in the same period. Overall, it generated $1.3 billion in revenue for fiscal 2022, up 55% and marking the first time it passed the $1 billion mark.

Affirm’s stock price is down 86% from its all-time high amid the tech market selloff, mostly because it’s a loss-making company right now so expand its services. The lack of profits is perceived as a high risk in this environment. However, Affirm’s business is growing so rapidly that profitability should not be the priority at this time. When a new bull market arises, its stock is likely to rally and generate strong gains.

2. Block benefits from two incredibly powerful ecosystems

Neil Patel (To block): When it comes to fintech and digital payments, perhaps no name commands more attention than Block. Founded by Jack Dorsey, this innovative company, formerly known as Square, currently makes a compelling investment case.

On the merchant side, Block operates what is now called Square, which offers small businesses a wealth of software, hardware and financial services products, ranging from point-of-sale solutions and inventory management to cash loans. payroll and working capital. In the last quarter, Square processed $48.3 billion in gross payment volume (GPV), up 24.5% year-over-year, with a larger share coming from what Block calls mid-market traders, or those generating at least $500,000 in annualized GPV.

Block also owns one of the most popular personal finance tools on the market, Cash App, which had 47 million monthly active users as of June 30. Cash App can be used to send or receive money instantly, spend at merchants, set up direct deposits, and even buy stocks and Bitcoin. In the second quarter of 2022, Cash App’s gross profit of $705 million was 29% higher than the prior year period.

While Square and Cash App are exceptional companies with positive characteristics on their own, what makes Block special is its ability to integrate these two segments over time. The company’s acquisition of specialist BNPL Afterpay, completed in January, strengthens the bond between merchants and consumers by adding a hugely popular feature to both platforms that is expected to increase transaction counts and payment volume over time. And that will ultimately result in a higher gross profit for Block.

With shares down 57% in 2022 and trading at a selling price multiple of just over two today is a good time to buy stocks in bulk. The company is a leader in digital payments and still has plenty of room for growth.

Don’t sleep on this digital payments network leader

Nicholas Rossolillo (MasterCard): Bull markets are not just about stock market recovery. It is also about healthier economic growth. And if the global economy gets back on its feet, digital payment network giant Mastercard could have a lot to gain.

Don’t get me wrong, though, this isn’t a super high-growth financial tech poised to deliver super-attractive returns. Mastercard is already a titan that generated $5.5 billion in revenue last quarter alone, a 21% year-over-year increase. Nothing to complain about, especially given the stress the global economy is currently under due to inflation.

For the foreseeable future, Mastercard’s “railway” facilitating the movement of digital money will remain dominant alongside peers Visa, and a stabilization of the global economy would help improve Mastercard’s financial results. Additionally, over time, Mastercard’s profitability tends to grow at an even faster rate than revenue, since its core operations are already paid for. This means that any additional income Mastercard generates generates little additional cost, which equates to a lot of cash being passed on to shareholders. Namely, adjusted net income increased 29% in Q2.

What’s amazing here is that Mastercard is still discovering many new uses for its network, even under less than ideal economic circumstances. The use of paper money is still prevalent around the world, so Mastercard can sustain its growth for years to come by converting more users to digital cash. It also offers value-added services such as data security, consumer engagement tools, and software-based banking products. This segment grew by 18% in the last quarter, benefiting from a growth of three percentage points thanks to small complementary acquisitions.

Overall, this is an incredibly solid investment that can deliver steady growth for years to come as the financial services industry gradually undergoes digital transformation. Mastercard currently trades for 32 times trailing 12-month earnings per share, or 37 times enterprise value to free cash flow. It’s a premium price tag that has stuck with Mastercard for a long time – and for good reason, as it has demonstrated its ability to grow steadily at a healthy rate for many years.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a board member of The Motley Fool. Antoine Di Pizio has no position in the stocks mentioned. Neil Patel has positions at Amazon, Bitcoin and Block, Inc. Nicholas Rossolillo has positions at Amazon, Bitcoin, Block, Inc., Mastercard, Shopify and Visa. The Motley Fool holds positions and recommends Affirm Holdings, Inc., Amazon, Bitcoin, Block, Inc., Mastercard, Shopify, and Visa. The Motley Fool recommends the following options: $1140 January 2023 Long Calls on Shopify and $1160 January 2023 Short Calls on Shopify. The Motley Fool has a disclosure policy.

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should you ever disclose the details of a competing offer? – Royal Examiner https://michiganparanormalencounters.com/should-you-ever-disclose-the-details-of-a-competing-offer-royal-examiner/ Fri, 16 Sep 2022 13:40:15 +0000 https://michiganparanormalencounters.com/should-you-ever-disclose-the-details-of-a-competing-offer-royal-examiner/ According to July 2022 Virginia Home Sales Report published by Virginia REALTORS®, there were 11,346 homes sold in Virginia in July 2022. That’s nearly 26% less than in July 2021, the largest year-over-year decline in more than seven years. Overall, sales activity has moderated from last year’s level in Virginia since last fall. While total […]]]>

According to July 2022 Virginia Home Sales Report published by Virginia REALTORS®, there were 11,346 homes sold in Virginia in July 2022. That’s nearly 26% less than in July 2021, the largest year-over-year decline in more than seven years. Overall, sales activity has moderated from last year’s level in Virginia since last fall.

While total sales activity continues to slow significantly, home prices on the market continue to rise. At $385,000, the median July selling price in Virginia was up nearly 7% from a year ago, a gain of $25,000.

As the price trajectory continues to rise, indicators suggest the upward pressure is easing. “In most price segments, homes still sell for more than the listing price, on average. However, this ratio has been declining for several months,” says Virginia REALTORS.® 2022 President Denise Ramey. “We don’t see as many bidding wars as we did just a few months ago, and we expect price growth to slow even more as market activity continues to cool.” The average sold-on-demand ratio across the state was 101.2%, down from 102.4% last month (June 2022) and down from 101.8% last July.

While Virginia’s statewide home inventory still remains low, in many local housing markets around the Commonwealth, the supply of active listings is growing. About half of all counties and independent cities in the state had more active registrations at the end of July than they did a year ago.

“The expanding supply is good news for buyers in the market,” says Virginia REALTORS® Chief Economist Ryan Price. “Buyers’ purchasing power has been affected by high inflation and rising mortgage rates. The slowdown in sales activity we’ve seen in many parts of the state is resulting in a backlog of available homes. »

The Virginia Home Sales Report is released by Virginia REALTORS®. Click here to view the full July 2022 Virginia Home Sales Report.


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Why Upstart, Affirm and MercadoLibre have mobilized today https://michiganparanormalencounters.com/why-upstart-affirm-and-mercadolibre-have-mobilized-today/ Fri, 09 Sep 2022 20:40:37 +0000 https://michiganparanormalencounters.com/why-upstart-affirm-and-mercadolibre-have-mobilized-today/ What happened Stocks of fintech and e-commerce related stocks Reached (UPST 2.88%), To affirm (AFRM 10.76%)and MercadoLibre (MELI 5.25%) were up today, up 2.9%, 10.8% and 5.3%, respectively. There wasn’t much company-specific news today fueling these stocks, but it appears that after several consecutive weeks of declines, the most dejected segments of the market, including […]]]>

What happened

Stocks of fintech and e-commerce related stocks Reached (UPST 2.88%), To affirm (AFRM 10.76%)and MercadoLibre (MELI 5.25%) were up today, up 2.9%, 10.8% and 5.3%, respectively.

There wasn’t much company-specific news today fueling these stocks, but it appears that after several consecutive weeks of declines, the most dejected segments of the market, including high-tech tech stocks growth and fintech see are linked. MercadoLibre also received good news individually, as a major competitor announced that it would withdraw from some of its markets.

Today’s big gains could have been enhanced by short hedging, with many institutional funds positioned against these names amid the dual threat of rising long-term bond yields and potential recession as the Federal Reserve rises. rates.

However, this week has seen some positive data points on these fronts, with some inflationary indicators easing and the labor market remaining resilient. When combined with battered stock prices, this is a recipe for big upside moves today.

So what

These shares had been selling since mid-August on fears that inflation and interest rate hikes could lead to a recession, and therefore credit losses among lenders.

Upstart is an AI-powered lending platform for personal and auto loans to buyers with relatively low FICO scores, and its models have been tested this year. Upstart’s 2021 vintages showed increased charges as inflation weighed on consumers’ discretionary income, although management said it adjusted its models in 2022. the market amid macroeconomic uncertainty, the requiring it to hold certain loans on its balance sheet and increasing its risk.

Affirming, as a buy now, pay later platform for point-of-sale purchases of large items, also carries underwriting risk. In the recent earnings release, Affirm noted a more “normalized” credit environment with increased write-offs and loan loss provisions. Yet after the extraordinarily low charges during the pandemic and the stimulus payments, the company is still achieving good net interest margins.

While MercadoLibre is known as Latin America’s leading e-commerce site, its Mercado Pago fintech segment is rapidly becoming more prominent, with much of Mercado Pago’s recent growth coming from merchant and consumer lending. MercadoLibre’s credit portfolio grew 230% year-over-year last quarter, which could worry investors who prefer a cleaner, paying business.

While credit concerns have weighed on each of these names, the reversal of those concerns is pushing every stock higher today. The precise reason is a little hard to pinpoint; however, earlier this week continued U.S. jobless claims came in below expectations, which may have eased fears that the Federal Reserve could push the economy into recession. Oil prices also fell during the week, although they are up today. Meanwhile, other inflationary indicators such as shipping rates and used car prices are in full deflation, with prices falling in August.

If inflation falls faster than expected, the Federal Reserve will not have to tighten financial conditions as much. Given the extent to which these economically sensitive stocks fell on recession fears, they soared on relatively good news from very low levels.

MercadoLibre may also increase in response to news that the competitor Sea Limited leaves certain Latin American markets. Sea Limited became a fierce e-commerce competitor in Brazil, but announced it would pull out of Argentina, Chile, Colombia and Mexico due to cash burn issues. This should benefit MercadoLibre, which has established operations in these countries.

Now what

These stocks were each down significantly over the year, with MercadoLibre down 31%, Affirm down 76% and Upstart down 82%. The sell-offs were probably deserved, as each stock traded very high at the start of the year, and the macroeconomic environment turned strongly against each of them.

However, we are now in a period where these stocks could bottom or hover lower. If conditions improve, these growth stocks could be among the big winners; however, it is the reward investors get for taking on those bigger risks, which are by no means conquered yet. Investors will get more data next week, when the August Consumer Price Index report is released on Tuesday, September 13.

Billy Duberstein has positions in Sea Limited and has the following options: January 2024 $50 short put options on Sea Limited, September 2022 $55 short put options on Sea Limited and September $95 short call options 2022 on Sea Limited. Its clients may hold shares of the companies mentioned. The Motley Fool holds positions and recommends Affirm Holdings, Inc., MercadoLibre, Sea Limited and Upstart Holdings, Inc. The Motley Fool has a Disclosure Policy.

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How to invest $10,000 after student loan forgiveness https://michiganparanormalencounters.com/how-to-invest-10000-after-student-loan-forgiveness/ Mon, 05 Sep 2022 12:39:13 +0000 https://michiganparanormalencounters.com/how-to-invest-10000-after-student-loan-forgiveness/ Erase the “debt”. Getty Images You’ve probably heard of President Biden’s student loan forgiveness announcement. Key points to remember This could be the perfect opportunity to start investing, paying off other debts, or boosting investments you’ve already made. The first way to invest this money is to create a cash reserve so that you have […]]]>

You’ve probably heard of President Biden’s student loan forgiveness announcement.

Key points to remember

  • This could be the perfect opportunity to start investing, paying off other debts, or boosting investments you’ve already made.
  • The first way to invest this money is to create a cash reserve so that you have cash on hand, just in case.
  • On the one hand, you might just want to focus on paying off all your loans so you’re debt free. On the other hand, investing may seem more appealing if you think you can get a decent return on your money.

This news has spread and many people are wondering if they are eligible or not. Those who qualify are excited about the potential extra $10,000 available to them now that they no longer have to worry about paying off debt.

It is well known that the financial burden of student loans prevents many people from buying real estate and building wealth. This is why it is so essential to take advantage of this student loan forgiveness program.

Let’s dive into how you can invest $10,000 after confirming your student loan forgiveness to build your wealth and focus on building your financial health.

How do you know if you qualify for student loan forgiveness?

Nearly 8 million Americans are immediately eligible for student loan forgiveness without any application. If your annual income is less than $125,000 (or $250,000 as a married couple), you will be eligible for $10,000 in student loan forgiveness.

The Federal Student Aid website stated that relief can be expected within 4-6 weeks of application. The website recommends completing your application by November 15, 2022 if you want to see relief before 2023.

If you qualify, you will have freed up $10,000 which you can now invest. This money should be used to create financial momentum for millions of Americans.

How should you invest $10,000?

Here’s the best way to invest the money you no longer need to allocate to your student debt.

Build up a cash reserve

The first way to invest this money is to create a cash reserve so that you have money on hand in case something goes wrong. Some experts recommend that you save three months of expenses as a cash reserve to help you deal with possible job loss or some other type of disaster.

Your parents or grandparents probably advised you on the importance of saving money for a rainy day. Think: your car breaks down, a broken bone, or one of life’s unintended consequences.

If you already have a cash reserve fund, we suggest supplementing it to ensure you have enough money to be ready for whatever life throws at you.

Start saving for your retirement

The earlier you start saving for your retirement, the more comfortable your life will be in your golden years. Saving for retirement isn’t something you do later in life. Although getting older is the last thing on your mind when you’re young, you need to plan for your older life so you don’t get stuck working longer than you want because you haven’t prepared.

How do you start saving for retirement?

  • See what options your employer offers. Determine if your employer matches your contributions to the company-sponsored 401(k) plan.
  • Set aside money from each salary. Individual Retirement Accounts (IRAs) and 401(k)s allow for tax-free or tax-free growth. They are available in traditional or Roth options.

It’s important to start planning for your retirement as early as possible so you don’t have to spend your golden years working when you could be relaxing with your family.

Invest in index funds and stocks you believe in

Have you thought about trying investing in the stock market? Since you will have more money to invest, you will want to put some of it where it will grow.

It’s usually best to start investing in index funds that contain companies you believe in. You may want to try your luck investing in individual stocks, but it’s wise to wait until you have more experience and confidence as an investor. Sometimes the best investments are the boring ones that deliver consistent results. Targeting 6% to 8% over the long term will provide strong growth over time.

Invest in yourself/your development

This $10,000 could be spent on your personal development or career growth. You may have heard that the best investment is to invest in yourself. Increasing your skills and knowledge will result in more income, which will help you build more wealth over time.

How can you invest this money in yourself?

Take that course you’ve been thinking about. Is there a course that could improve your position at work or help you earn more money on the side?

Learn a new skill. Could you use that money to learn a new skill, like graphic design, coding, sales, or writing?

Try a community college program. Since your debt has been forgiven, you can use this money to improve your education at a community college near you.

This $10,000 financial aid could be the financial help you need to make a career change or advancement that concerns you.

Pay off your other debts

Although it is not technically an investment, you can use this money to settle other debts. Chances are $10,000 isn’t enough to wipe out all of your student loans. While $10,000 is nothing to sneeze at, you may not be completely debt free after your student loan is forgiven. You may also qualify for additional federal and private student loans, depending on the amount of financial aid you have obtained for your education. You may also have other debts ranging from credit card debt to a car loan. Use the money you have allocated for student loan repayments to reduce your overall debt.

What you shouldn’t invest the $10,000 in

Since we’ve looked at the best ways to invest that student loan forgiveness money, it’s only fair that we look at what you shouldn’t invest in so you don’t waste this unique opportunity. It can be tempting to chase the promise of high returns that are “guaranteed” by a random person on social media. Remember, if it sounds too good to be true, it usually is.

Here are some ways not to invest that $10,000:

  1. Buy meme stocks based on hype and speculation. While Reddit and social media are full of meme stock success stories, many people have lost money on these investments because they chased the hype without doing any research.
  2. Random cryptocurrency tokens you hear about. Many innocent people have lost money in cryptocurrency because they chased the ridiculous returns the tokens promised them.
  3. Penny stocks and other risky investments. High risks come with high rewards, but they can also cause you to lose all your money.

The purpose of this student loan relief is to help ease the strain on your finances. Don’t make matters worse by taking unnecessary risks.

The final word on the $10,000

If you find out that you are approved for student loan forgiveness, $10,000 of your balance will be wiped off, which should significantly ease the financial burden of student debt. This could be the perfect opportunity to start investing, paying off other debts, or boosting investments you’ve already made.

Looking for the right investment, something you can contribute to over time? Q.ai eliminates investment assumptions.

Our artificial intelligence scours the markets for the best investments for all kinds of risk tolerances and economic situations. Then it groups them at your fingertips Investment kits that make investing simple and – dare we say it – fun.

Even better, you can enable Wallet Protection at all times to protect your gains and reduce your losses, regardless of the sector in which you invest.

Download Q.ai today to access AI-powered investment strategies. When you deposit $100, we add an additional $100 to your account.

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We don’t all benefit equally from government aid – it’s not just student loans https://michiganparanormalencounters.com/we-dont-all-benefit-equally-from-government-aid-its-not-just-student-loans/ Sat, 03 Sep 2022 15:07:14 +0000 https://michiganparanormalencounters.com/we-dont-all-benefit-equally-from-government-aid-its-not-just-student-loans/ President Joe Biden’s decision to forgive up to $10,000 in federal student loans for many borrowers is fair game for vigorous debate — and disagreement. Americans have been debating and disagreeing for 246 years. What is glaring in this latest dispute is how blind some politicians are to inconsistencies in their arguments against this economic […]]]>

President Joe Biden’s decision to forgive up to $10,000 in federal student loans for many borrowers is fair game for vigorous debate — and disagreement.

Americans have been debating and disagreeing for 246 years. What is glaring in this latest dispute is how blind some politicians are to inconsistencies in their arguments against this economic punch when over the years they have backed other government incentives to various groups. .

To hear the comments of Iowans in Washington, one would think they have long been strong advocates of the government abandoning the personal financial decisions that Americans make. But you would be wrong.

Marion’s Rep. Ashley Hinson said waiving $10,000 in federal student loans would be “a giveaway to the rich and a total slap in the face” to people who didn’t go to college or have already paid off their loans. .

Senator Joni Ernst of Red Oak asked why Iowans who are entering the workforce straight from high school or paying for their own education should foot the bill for others with $10,000 in student loan repayments . She said Biden was “putting the blame back on hard-working Americans.”

A flaw in such thinking is that the beneficiaries will be ordinary Iowans who are neither wealthy nor elite. They will be nurses, teachers, accountants, cops, farmers and store managers who graduated from colleges and universities in Iowa, then went out and found jobs – in some cases, jobs that employers had to difficult to provide.

Yes, these graduates will personally benefit from less debt. The typical Iowa college borrower owes about $30,000.

But the rest of us without college debt will also benefit. The money that borrowers would have used for interest and principal on their loans will instead be used to buy goods and services from retailers and restaurants – all of which will create more jobs and more demand for products and services that drive Iowa’s economy.

The Biden directive applies to student borrowers who earn less than $125,000 a year or couples whose annual income does not exceed $250,000. Students from low-income families would qualify for an additional $10,000 discount.

These six-figure income caps have rightly been criticized as being too high, especially when the average household income in Iowa is around $60,000. “This is bad politics, as well as bad politics,” Democratic national strategist Paul Begala told CNN.

Here’s the inescapable reality of the backlash: Republican critics who think debt cancellation or six-figure income caps are unfair have expressed no opposition in the past when there are proposals that benefit some. groups but not to others.

Like it or not, the government has long favored some of us with special programs and policies, while the rest of us have to fend for ourselves. In the latter half of the 1800s, the government encouraged settlers to move west by giving them up to 160 acres if they lived on the land and worked it – even though millions of other people wanted land but were excluded from the cheap deal. .

During the Great Depression, around 3 million unemployed people were hired to work in the Civilian Conservation Corps – although there were not enough jobs to meet the demand.

More recently, two federal government programs have been extremely popular with large groups of Iowans: the federal agricultural assistance programs and the $800 billion Paycheck Protection Program.

Government-backed PPP loans have been issued to many employers who have agreed to keep employees on payroll in the early months of the COVID outbreak and use loan proceeds for business expenses. The loans did not have to be repaid if the companies used the money as promised.

Of course, countless small businesses have been locked out of the Paycheck Protection Program. But those taxes from owners have been used to help cover the cost of loans that much bigger and wealthier companies have not had to repay.

PPP loan forgiveness was done, in today’s student loan forgiveness terminology, on the backs of hard-working small business owners.

Federal government agricultural programs have been a lucrative source of income for farmers over the past quarter century. Look at the federal crop insurance program. Taxpayers who work hard and don’t have farms see their taxes pay almost half of the premiums, with farmers taking care of the other half.

The cost of this crop insurance subsidy is not pocket change. The Congressional Budget Office says it will be $9.5 billion this year.

Proponents are quick to remind us that crop insurance is important to everyone, because we’re talking about food. Most insurance only covers three crops: corn, soybeans and wheat. Most of the fruits and vegetables we eat are not covered by federal insurance.

But crop insurance goes far beyond buying protection against an unexpected weather catastrophe. Seventy percent of crop insurance policies that taxpayers subsidize actually provide guaranteed income for each acre covered by the policy. If market prices at harvest time are below this target, the policy makes up the difference. If market prices at harvest time are above the target, the farmer gets the higher price.

No other Iowa trader has the luxury of having taxpayers cover half the cost of a guaranteed income policy like crop insurance — coverage that effectively shifts crop price risk onto the back American workers.

KCAU-TV in Sioux City, a report emerged last week that Senator Chuck Grassley’s family has received $1.75 million in government farm assistance payments since 1995. $67,000 each year.

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How often can you refinance your car? (2022) https://michiganparanormalencounters.com/how-often-can-you-refinance-your-car-2022/ Thu, 01 Sep 2022 21:28:37 +0000 https://michiganparanormalencounters.com/how-often-can-you-refinance-your-car-2022/ Whether you want to take advantage of a lower interest rate or hope to change the terms of your loan, there are plenty of reasons to refinance your vehicle. But how many times can you refinance your car? We at the Home Media Review Team will explore the refinancing process here – when you can […]]]>

Whether you want to take advantage of a lower interest rate or hope to change the terms of your loan, there are plenty of reasons to refinance your vehicle. But how many times can you refinance your car?

We at the Home Media Review Team will explore the refinancing process here – when you can do it, how many times you can refinance your vehicle and if you should do it in the first place. Before refinancing your car, consider comparing the best auto refinance rates online to save money.

How often can you refinance your car?

You can refinance your car as often as you like, and there are no legal restrictions on how long you should wait before doing so. You will not encounter any law preventing you from refinancing your car at any time.

On the other hand, some problems could arise if you refinance too often. Drivers who extend their repayment periods over and over again risk having their loans reversed and could possibly hurt their credit ratings.

Potential problem: Owing more than your car is worth

Your loan is “upside down” if you owe more than your car is actually worth. This can happen if you don’t get a good interest rate or if you refinance too early when the car’s depreciation is greatest.

Auto loans can also be upset if you extend your refinance terms too often and end up with a much longer payment period. During the term of the loan, you will pay more than the value of the car at the beginning. With multiple refinances on the same car, you are more likely to end up with an upside-down car loan.

Potential problem: damage to your credit score

Every time you get a pre-approved car loan, your credit score could suffer due to serious investigation. Normally, your credit score will recover fairly quickly. If you complete another application within a month or two, your FICO score may remain lower than the first. This could make it harder to get approved for new credit cards, personal loans, or even mortgages.

Multiple requests of the same loan type within 14 days will only be added once, but after that the count usually starts over. If you’re on the line between two credit score brackets, you might actually start receiving more. car loan rate after several refinancings.

How long does it take to refinance a car loan?

You can refinance an auto loan as early as the business day after the initial transaction is completed. No law requires you to wait a certain amount of time before refinancing your car with a new loan. However, make sure you can actually get a lower rate by refinancing your existing loan or you could end up with harsh repayments in the long run.

If you bought your car new from a dealership, the salesperson may have told you to wait six months or a year before refinancing. Generally this is not true. Dealerships often receive commissions after you’ve made loan payments for six months, so they may be tempted to tell you not to refinance right away. It’s rare that drivers are contractually obligated to wait a certain amount of time before refinancing their vehicles.

Another issue to watch out for is prepayment penalties. Auto lenders in 36 states and the District of Columbia are allowed to charge drivers a fee for terminating auto loans with a term of less than 60 months. In addition to a prepayment penalty, those refinancing a new or used car could end up having to pay title fees.

Should I refinance my car loan?

People typically refinance their vehicles to save money by getting lower monthly payments. It’s best to refinance your vehicle when you get a better interest rate while keeping the repayment period about the same or shorter than your current car loan.

In other words, it makes more sense to choose a 48 month refinance loan than a 60 month loan if each option has a similar interest rate.

Increasing the remaining term of your loan to 60 months may give you a slightly cheaper car payment per month, but you could end up paying significantly more than your original loan. If you received a higher interest rate, cheaper monthly payments could still result in higher overhead.

If you carefully compare the best rates in the market, chances are that refinancing your loan balance is the right choice. The main exception concerns motorists who have already refinanced their car often in the recent past.

When to refinance a car loan

It’s a good idea to refinance your car if the following conditions are true:

  • Your credit score has improved and you can get a better interest rate
  • You find that your current lender or dealer gave you the wrong rate the first time
  • You can afford higher payments and want to shorten the term of the loan to save on total interest charges
  • A family member is willing to co-sign the loan for better terms
  • You are in a better financial situation and devote less income to paying off your debts

When not to refinance a car loan

Be careful and consider not refinancing your car loan in the following situations:

  • Your credit score has gone down and you will get a higher interest rate on the loan
  • You only have a few years left on your car loan
  • Your car is over 10 years old
  • You’re upside down on the loan
  • Your car loan has prepayment penalties in the contract

Our recommendations for car loan refinancing

Refinancing your car loan is often a fairly simple process that can be completed in a matter of hours. We recommend contacting credit unions in your area and considering the most reputable auto refinancers. Below are two of our top picks if you want refinance a car loan.

Automatic approval: first choice for refinancing

Starting Annual Percentage Rate (APR): 2.25%
Loan amounts: $5,000 to $85,000
Loan conditions: 12 to 84 months

Auto Approve is a marketplace where you can compare refinance offers from various online lenders. Borrowers with the best credit reports could find refinance rates as low as 2.25% through Auto Approve. Most customers have positive experiences with Auto Approve – the company has a 4.7 – out of 5.0 stars on Trustpilot.

Keep reading: Automatic Approval Review

PenFed Credit Union: Best Credit Union

From April: 4.24%
Loan amounts: $500 to $150,000
Loan conditions: 36 to 84 months

PenFed is our top choice for auto refinancing among credit unions. The financial institution usually offers exceptional rates for those with excellent credit scores, but borrowers with bad credit will likely be turned down. Reviews on Trustpilot mention courteous customer service agents and give PenFed Credit Union 4.6 out of 5 stars.

Our Methodology

Because consumers rely on us to provide unbiased and accurate information, we’ve created a comprehensive rating system to formulate our ranking of the best car loan companies. We’ve collected data on dozens of loan providers to score companies on a wide range of ranking factors. The end result was an overall score for each vendor, with the companies scoring the most points at the top of the list.

Here are the factors taken into account by our assessments:

  • Reputation (25% of total score): Our research team considered ratings from industry experts and each lender’s years in business to assign this rating.
  • Prices (25% of the total score): Auto loan providers with low APRs and high loan amounts scored highest in this category.
  • Availability (25% of total score): Companies that cover a variety of circumstances are more likely to meet consumer needs.
  • Customer experience (25% of total score): This score is based on customer satisfaction ratings and transparency. We also considered the responsiveness and helpfulness of each lender’s customer service team.

*Data correct at time of publication.

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Personal loan interest rates have fallen. Is it the right time to borrow? https://michiganparanormalencounters.com/personal-loan-interest-rates-have-fallen-is-it-the-right-time-to-borrow/ Wed, 31 Aug 2022 12:00:20 +0000 https://michiganparanormalencounters.com/personal-loan-interest-rates-have-fallen-is-it-the-right-time-to-borrow/ Image source: Getty Images If you’re considering a personal loan, now might be the time to see what lenders have to offer. Key points This year marks the first time personal loan interest rates have fallen below 9% since the Fed began tracking 50 years ago. Used wisely, a personal loan can help you get […]]]>

Image source: Getty Images

If you’re considering a personal loan, now might be the time to see what lenders have to offer.


Key points

  • This year marks the first time personal loan interest rates have fallen below 9% since the Fed began tracking 50 years ago.
  • Used wisely, a personal loan can help you get out of debt faster and save money.
  • The best personal loans are available to those with the highest credit scores.

Personal loan rates fell to 8.73% during the second quarter of 2022 (April to June). It’s the first time personal loan rates have fallen below 9% since the Federal Reserve began collecting data 50 years ago. Now that interest rates are relatively low, is it a good time for you to borrow money? Here we take a look at what lower rates can mean for you.

Is it time for you to borrow?

Whether or not this is a good time to borrow depends on what you plan to do with the money. One of the things about personal loans is that most can be used however you want. Want to get away to a tropical island for a while, buy a classic car or renovate your house? A personal loan can make it possible.

With interest rates hitting record highs, now might be the time to take out a personal loan to meet your financial goals. Here’s what you need to know about personal loan rates today.

If any of these situations sound familiar, it might be a good idea to apply for a personal loan:

You have high interest debt

The average interest rate on credit cards this week is over 18%, and some personal loan rates are as high as 36%. If you find yourself with high-interest debt, a new personal loan can help you consolidate them and make a payment at a lower interest rate.

Not only does debt consolidation reduce the time it takes to pay bills, but it’s also likely to save you a lot of money.

You juggle your debts

If you spend too much time each month paying all your bills or if bills sometimes fall through the cracks and you end up with late payment charges, using a personal loan to pay off your debts can make your life easier. The wise move is to sign up for autopay to ensure your loan payment is never late. Additionally, some lenders offer a discount to borrowers who sign up for autopay.

There’s a financial obligation hanging over your head

Some debts hang in the air like a black cloud. For example, if you owe money to a friend or family member, you might want to consider borrowing enough to pay it back.

you’re starting again

Starting over requires money (sometimes more than we plan to spend). If your life has taken a surprising turn, a personal loan can provide you with the funds you need to settle down and start afresh.

Isn’t 8.73% still high?

Given that mortgage interest rates have fallen below 3% during the pandemic, 8.73% seems high in comparison. Here is the difference, however: a mortgage loan is secured by a guarantee. This means that if you miss payments, the lender can repossess your home, sell it, and recover their losses.

The risk of lending someone money to buy a house is lower than the risk of lending a personal loan. This is because the majority of personal loans do not require collateral. If you fail to make the payments, the lender has no way of getting their money back.

The lender is the one who takes all the risk. Seen in this light, an interest rate below 9% is quite impressive.

Who can benefit from the best rates?

It is important to note that the lowest interest rates are granted to borrowers with the highest credit ratings. If you’re not quite there, there’s no shame in taking the time to boost your credit score.

Personal loans aren’t for everyone, and if you decide not to borrow money, boosting your credit score will benefit you in countless other ways.

The Ascent’s Best Personal Loans for 2022

Our team of independent experts have pored over the fine print to find the select personal loans that offer competitive rates and low fees. Start by reviewing The Ascent’s best personal loans for 2022.

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