Money Rant

By William Penworthy

 A friend of mine has been looking for car finance, without very much luck. “Bill,” he said to me one day, which was a good start since that’s my name, “you know what the trouble is with car finance companies?”

I began thinking about this in preparation to serve what I would have considered to be a witty and insightful response, but he continued almost without pause, “they’re too busy looking at their statements and accounts to look out of the window.”

To anyone who didn’t know my friend, who I will call Simon, since that’s his name and it’s unlikely you know him, one might consider his comment somewhat irrelevant. However, Simon often has a way of not just seeing the wood even with the trees, but often the bark, and sometimes even the dog as well, doing what dogs do in woods full of trees.

However, I had to ask him to clarify this, since car finance companies, who I am sure have had a pretty rough ride over the past couple of years, may well not be too concerned about what’s outside the window, and I doubted this had much impact on Simon’s ability to get car finance. I surmised that the real trouble lay not with underwriters staring out of windows, but underwriters staring at what is left of the ruin that was once Simon’s credit history.

“You see,” Simon went on, as Simon tends to when in mid rant, “I’ve had a bad couple of years. You know that.”

Indeed I did know that. Two years ago he lost his job suddenly - the management managed to give him a full twenty minutes’ warning. He struggled to get another job, along with half the country, and ended up racking up quite an astonishing amount of debt.

Still, the good news, as he put it, was that the immense volume of threatening letters from debt collection agencies gave him something to burn in the fireplace which helped cut down on the cost of heating.

“But I’ve got a good job now, and sorted things out with all the creditors, and I now have enough spare cash to be able to afford a car finance or a car loan. I need a new car fairly urgently.”

This is something of an understatement. His old car is only being held together by the rust, there’s more tread on the steering wheel than anywhere else, there’s no exhaust pipe and I’m convinced half the engine fell out at some point. It’s simply not safe for him to drive his family around, or drive to work each day along the motorway.

“So why are the car finance companies penalising me for things that happened nearly two years ago, have all been settled, and weren’t even my fault in the first place? Can’t they look up briefly from the paperwork to glance out of their window and see that the world, or at least my world, has changed quite a bit since then?”

I asked him whether he’d tried one of those car credit finance companies that advertise guaranteed car finance. “Hah!” he said, thumping the table in a way which suggested that the table was almost entirely responsible for the state of car finance arrangements everywhere.

“I know what they’re like. They offer you a great big generous pile of cash, then drag you off to their own little private showroom where they pick a whole three cars for you to choose. They’re all overpriced and under serviced, meaning that your entire budget is blown on a car you don’t like, wouldn’t normally pay that price for, and haven’t even had a chance to properly test drive.”

Now it just so happened that I was able to, very tactfully, set him straight on this. Because just like Simon, I’ve been down the same path myself, except that I didn’t ever tend to take it out on perfectly innocent pine kitchen tables.

I explained that there are some guaranteed car finance companies that are able to offer cheap car finance, but who will not limit what you do with it. They’ll understand that a credit history is only a history, and will use your existing circumstances to come to a realistic and fair decision, and then you’re free to use the car finance to buy any car you like, from any dealer you like, anywhere in the UK. Despite the groans, the dismissive shrugs and the shaking of the head, the next week I got a picture message from him showing off his new car.

Car Credit Finance http://www.carloan4u.co.uk/ Car Finance

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How Guaranteed Car Finance Could Actually Help Improve Your Credit Rating

By William Penworthy

 Did you know that if you have a poor credit rating, getting car finance can actually help improve your rating considerably, allowing you more financial freedom in future? It often seems like a catch 22 situation - you have a low credit rating, and can’t get credit, yet having credit helps improve your rating.

Not everyone appreciates that having car finance, a car loan or other credit arrangement can help improve your credit worthiness in the eyes of most lending institutions. You might be forgiven for thinking that having credit will lower your rating, since it’s obvious you already have existing commitments.

Although it’s certainly true that if you have a huge mountain of active credit agreements, loans, store cards and credit cards, your chances of getting car finance or any other form of credit or finance are low, but this is only in cases where the number of credit arrangements is excessively high. The most important point is that those credit arrangements demonstrate payments being made regularly, on time and in full.

As long as this is the case, then your credit rating will still be good, and you stand a good chance of getting the car finance, car loan or credit you need. But what if you do have missed payments, defaults, even CCJs or arrears on your mortgage?

Certainly getting car finance can prove much harder in such cases, and you may already be in the situation where you have applied for cars on finance or car credit finance, and been declined. It’s not a good feeling being declined for car loans, and these days it seems to take very little to knock your credit rating down. The economy has been bad, and credit companies have become very much more conservative, with the result that missed or late payments get punished harshly, the letters being sent out worded more forcefully, and patience seems thin on the ground.

But if you can get car finance, then you will be able to help start to rebuild your credit worthiness. Although your credit history may show missed payments, late payments or other problems in the past, you may now find yourself in a much more stable situation, with either those arrangements paid off, or agreements in place.

But unless you’re prepared to wait six years for your missed payments, defaults and CCJs to automatically clear from your credit history, how else can you repair the damage caused? The answer is simple - get credit, and start paying it off on time. You’d be surprised the difference it makes to your credit rating having a car finance arrangement which demonstrates that you are paying on time, in full, every month.

As long as you keep up the payments, your credit rating will improve every month, cancelling out much of the damage caused in the past, and helping you to get back on track much sooner than the six years it would otherwise take. But this still brings us to the same problem it would seem - how do you get the car finance that’s likely to improve your credit rating if your credit rating is already a disaster?

The answer is to use guaranteed car finance. Perhaps you have heard of guaranteed car finance arrangements - they’re car finance deals for those with poor credit ratings, or no credit history at all. Rather than using your credit history to judge whether you’ll be able to pay the monthly instalments they assess your income and expenditure as it currently stands. As long as you have enough income to pay the monthly payments, you’ll be guaranteed car finance.

This means that you can afford to buy a new car, as well as improving your credit rating. It’s essential to make sure of two things though. Firstly, you absolutely must keep up the repayments, otherwise the improvements to your credit rating will be lost. Secondly, make sure that you approach a car finance company which allows you to use your guaranteed car finance to buy any car, from any dealer, rather than being forced to choose one of their own cars.

With just a single phone call it really is possible to get yourself a new car of your choice and improve your credit rating all in one go.

Car Finance http://www.carloan4u.co.uk/ Guaranteed Car Finance

Qadr Or Taqdir - God Does Not Lead Astray

By Ibrahim Machiwala

 A very misconception regarding the teachings of the Koran is that it ascribes to God the attributes of leading astray. Nothing could be farther from truth. While al-Hadi, or the One Who guides, is one of the ninety-nine names of God, al-Mudzill, or One Who leads astray, has never been recognized as such. If leading astray were an attribute of God, as guiding certainly is, the name al-Mudzill should have been included in the list of His names, as al-Hadi is. But the Koran which repeatedly says that God’s are all the excellent names, could not ascribe to Him what it has plainly ascribed to the Devil, viz. the leading astray of men. This fact is conclusive so far as the leading astray of men is concerned, but there are several other considerations which confirm it. The sinners’ own confession, as repeatedly mentioned in the Koran is that their great leaders misled them, or that the Devil misled them. Not once do they put forward the excuse that it was God Himself Who misled them: “When they have all come up with one another into it (the fire), the last of them shall say with regard to the foremost of them, Our Lord! These led us astray, so give them a double chastisement of the fire” (7:38), “O woe is me! Would that I had not taken such a one for a friend! Certainly he led me astray from the reminder after it had come to me” (25:28-29), “And none but the guilty led us astray” (26:99), “And they shall say, Our Lord! Surely we obeyed our leaders and our great men, so they led us astray from the path. O our Lord! Give them a double chastisement and curse them with a great curse” (33:67-8), and “And those who disbelieve shall say, Our Lord! Show us those who led us astray from among the jinn and the men that we may trample them under our feet so that they may be of the lowest” (41:29).

Now if God had really led men astray, their best excuse on the day of judgment would have been that they did not deserve to be punished, because it was God Himself Who led them astray. But not once is that excuse advanced, and it is always the guilty leaders, both from among men and jinn, who are denounced by the guilty followers as having misled them. This is another conclusive argument that it is not God Who leads men astray.

In the third place, the Koran is full of statements to the effects that God sends His prophets and grants revelation for the guidance of the people. The general rule laid down with regard to Divine dealing with humanity is thus made clear in the very beginning: “Surely there will come to you a guidance from Me, so whoever follows My guidance, no fear shall come upon them, nor shall they grieve” (2:38).

It is impossible that God, Who is so solicitous for the guidance of man, should Himself lead him astray. Guiding and leading astray are two contradictions, which could not be gathered together in one being. The Koran itself draws attention to this point: “And it is not attributable to God that He should lead people astray after He has sent them a guidance; He even makes clear to them what they should guard against” (9:115). The argument is evident. The Being Who sends guidance to a people could not lead them astray; how, then, could it be ascribed to God that He makes men fall into evil when He sends His messengers to explain to people that they should guard against evil?

Mumtaz Ali Tajddin S. Ali is an popular Ismaili Scholar, He has written many articles on Ismaili Imam, Ismailism, and Encyclopedia of Ismaili.

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