Contract Hire Specialist

How is that for a reciprocal question posed by Mike Rutheford for the Telegraph? It’s almost like asking wasn’t it great that 60% of our gold reserves were sold to the highest bidder?

Then again, whom are we talking about over here? Anyone with expertise in working in the real world? (another reciprocal question…)

With the UK going to the polls today do you think the answers to any of the above mentioned questions will change? Is that another reciprocal question…

The answer is of course, that nothing ever will change and as long as our docile population allows to have other people’s hands go into their pocket and remove the cash contained therein, things will more or less remain the same – that is, tax, tax and more tax.

Whilst you choose to live in this marvellous and beautiful country and there’s precious little that can be done about taxes, there is quite a bit that can be done about controlling expenses.

It is certainly easier to keep our proverbial heads in the sand, however this approach will only take you so far; it is far better to face the reality square on and if having a vehicle is of necessity for yourself and your business, leasing a car is an excellent option for controlling motor expenditures. No doubt, you will still pay the yearly road tax, maintenance, insurance, fuel – and be susceptible to the fluctuations of these.

By getting good advice however, it is possible to at least control the monthly outgoings by fixing most of the expenses at the outset – which is what a good vehicle leasing broker could and should do.

Whether you opt for a personal or business contract hire (and we will discuss those options in subsequent blogs), a lease will cap the expenses as it pertains to the rental and maintenance of the car and the road tax is usually included in the monthly rental – with the exception of some special deals (make sure to ask the question).

Remember – Governments come and Governments go but the Bull**** stays forever. Enjoy the ride.

 

 

Millions of Britons are being charged heinous amounts of interest or are being refused credit altogether.

 

The issue is not as complicated as banks and others make it out to be, but neither is simple nor obvious. How do the financial institutions measure your risk?

 

And don’t kid yourself that it does not affect you, the way in which your risk is measured affects you almost every day in more ways than you can imagine. Are you applying for a credit card? A bank account? A mortgage? A car loan? A mobile phone? Cable TV? Broadband connection to the internet?

These and hundreds of other ways in which we request overtly or covertly the financial institutions’ resources invite them to measure your risk profile.

 

And to top it off, every time you are refused, a ‘blotch’ will appear on your report which in itself will push your score lower. A classic case of Catch-22.

 

How do they measure consumer risk? The answer lies in two words – Credit Score.

Every person has a credit score based on historical behaviour and it is largely this historical record that finance institutions use to determine how our behaviour will most likely be in the future.

 

There are other factors involved as well such as employment but a large part of your score is determined by historical behaviour and monetary habits.

 

A higher score translates in cheaper finance rates and faster decisions by the decision makers.

In today’s financial climate more than ever, it is imperative that you aim for the highest possible score.

 

A low or average score should not be taken personally as none other than one of the greatest world investors found out when he received only an above average score!

 

Though the US and UK have different ways of calculating the numbers, they are not much different.

 

There are three things you will have to do.

 

The first thing you will need to do is to get your credit score and find out what it is.

 

Often there will be factual errors that will damage your score and than can be fixed with a simple phone call or letter.

 

Second thing to do is to dispel myths and facts about improving your score.

Much of what you will read in the link above applies to the UK as well.

 

The third and final shield in your defence arsenal against high interest rates and fees is – patience.

 

It takes time for modified behaviour and factual changes to start having an impact on your score. Give yourself at least 6 months of being actively engaged in the process and then request your score again.

 

Good luck!