Who Are Auto Title Lenders Competing With?

Auto title lending has become quite popular lately with the rise in consumers turning to lenders offering fast, convenient, and simple loans. With the economy calling for consumers to “reach out” in an effort to supplement their paychecks, take care of past-due bills, or deal with financial emergencies that aren’t covered by some sort of savings account, auto tile loans have become more common than ever.But if these types of loans have only recently (1990′s) become a widely traveled avenue for those looking to put themselves back in the “financial driver’s seat”, where were people turning to before to close the gap between financial freedom and budget bedlam. Those lenders who use to gain the business of harried borrowers have now become competition for the title lenders giving consumers more options but less room to breathe in the approval process.U.S. banks such as Wells Fargo & Co. and U.S. Bancorp still offer conventional loans like they always have but they have also jumped in on the short-term, high-risk lending game in an effort to recoup revenue lost from debit-card and overdraft fees. Banks, along with auto title loan and payday lenders are being scrutinized for the use of these short-term loans that offer high interest rates but may not be held accountable to state laws that are subject to interest-rate caps. The Federal Deposit Insurance Corp. along with the Consumer Financial Protection Bureau have taken moves to investigate these bank loans that don’t use the word “payday” but instead titles like Ready Advance and Direct Deposit Advance.While auto title lenders base the amount of your loan on the value and equity of your car, short-term bank loans are based solely on the borrower’s income and job history. Auto title lenders use the equity in the consumer’s car or truck to make a decision on loan eligibility and amount which means no credit check is needed when a person applies for these types of loans. Most auto title lenders will not report to credit bureaus in the event the consumer is late on payments or doesn’t pay back the loan at all. Banks, on the other hand, may choose to let credit agencies know that the consumer has defaulted on the loan as well as having the option to close the borrower’s account should the loan not be paid back. This alone makes auto title loans attractive to people who have bad credit or little to no credit at all.On the other hand, borrowers of auto title loans will not gain credit worthiness when they make good on their loan payments while payday loans from traditional lending institutions will allow consumers to “create a credit record that will enable them to graduate to more mainstream credit products, whether with us or with another reputable institution.” says Jeffrey Lee, executive vice president of Regions Bank.The big draw to auto title loans may be the big amount borrowers can actually take out against the equity of their vehicle. While the average payday loan amount anywhere from $250-$1000 based on state lending caps, auto title loans can put up to $5000 in the borrower’s bank account because they are based on the value of the consumer’s car or truck. Keep in mind the lender requires the title or “pink slip” to the vehicle before they hand over the cash and in the event that the borrower does not repay the loan? The lender can repossess the vehicle.

The Auto Insurance Contract – What Should You Know?

Due to the nature of the business, and the reputation it has earned, auto insurance is generally viewed as a field that is trying to dupe you. However, some of this is a general uninterested view of the actual auto insurance contract itself that leads some to believing it is something that it is not. Consider a few facts of your auto insurance contract below and get ahead of the auto insurance “game”.An auto insurance contract is what is generally referred to as a contract of adhesion. What this means is that the contract is written by the seller and agreed upon by the buyer with an “as is” or “take it or leave it” agreement. This adhesive nature leads to any ambiguities in the contract being read by the law in the favor of the insured, not the insurance company.An auto insurance contract is an aleatory contract, meaning that the contract is valid even if unequal values are exchanged or one party benefits more than the other. For instance, an insurance policy could be called into action a month after being signed, meaning the insured has only paid one premium and the insurance company may have to pay thousands.An auto insurance contract is a conditional contract in that the insured must pay their premiums, file a claim, participate in an unplanned insured event, and the insured product must be insurable. In other words, the insured must meet these conditions and the contract is enforced.An auto insurance contract is one of the utmost good faith in that both parties must act in good faith to fulfill the contractAn auto insurance contract is what is referred to as a contract of indemnity. Indemnity is the entire meaning of insurance altogether, indemnity meaning that the insurance company promises to make whole the insured that suffers the loss.An auto insurance contract will hold all of the above and if you don’t sign you don’t have the insurance. To put it lightly, be prepared to make the above agreements and you will have auto insurance!

Marketing With an Auto Responder

The most effective way to promote your website, product or service is to use an Auto Responder. Auto Responders are responsible for up to 80% of sales on websites. So if you’re not using an auto responder think about the business that you’re losing! Your backend sales can be increased by up to 700%. Is the value of an auto responder starting to sink in. Auto responders are a necessity, if you are trying to monetize your site, sell products or promoting a service. If you want to communicate and maximize your advertising dollar, then you need an auto responder.What are auto responders? Auto responders send emails and follow up email messages on a regular basis that you schedule to a list of your contacts or to a list of interested customers for whatever your offer, product or service is. The emails are set to be mailed on a schedule that you set, and can be prepared so that they cover a time period of your discression. Your auto responder service will have a page where you can compose your messages and allow you to schedule when you want your list to receive the messages that you write and the duration of time that you want to cover. Do you want to send the messages every 2 or three days and for how long do you want to send messages. It has been shown that most people don’t respond or purchase anything until they have been contacted 7 times. Enough time to establish a relationship of trust and loyalty. Who do you think will do better? The seller that lets his customers come to his site once and let’s them go away or the seller that captures the necessary information to follow up and build a relationship over time with his customers?You can set up your own Auto responder by purchasing the soft ware and setting it up on a server. The cost of maintaining a server is about 200 dollars a month and you need the technical ability to deal with any issues that arise. It is much easier to use an outside service provider. For a couple of reasons that are obvious, technical issues, and they tend to have employees who keep everything running smoothly and know what is necessary to deliver your messages without being stopped by spam filters. Maintaining proper guidelines keeps them off of any black list and business is maintained as usual. Companies that claim there is some magical formula that gets their emails through are lying, what gets your emails through is the knowledge of what the spam filters are looking for.Once your program is set up and messages are composed it is maintained on auto pilot or automated. Now you have the time to do the more important aspects of your business like the accounting and maintenance of your content on your site, sound exciting? So your customer signs in once or you add them to your list of contacts and the rest is done on auto pilot. Your contacts can unsubscribe anytime by clicking on a link in the follow up email that you send to them.Remember that through your follow up messages you are trying to develop a relationship of trust and loyalty so your messages should have good information and helpful tips about whatever you are trying to promote or sell. Your messages should be close enough together so that your list doesn’t forget you, but far enough apart so that, you don’t become annoying!The Bottom line is that if you’re not using auto responders, you’re losing valuable time and sales. You need to stop whatever else you are doing and get an auto responder service and put it in place!