Watch those Speeding Tickets

Have you noticed more autos on the side of the road with an officer issuing the driver a speeding ticket? Have you seen more trucks surrounded by DOT transport police? I sure have. There are several reasons for this increased activity.

One is that after 9/11 many departments have increased patrols. The additional police presence is to assure the public that efforts are being taken to prevent terrorist attacks like the recent sniper killings. The other reason is that cities and states are faced with budget deficits in these tough economic times. Since traffic tickets are a politically correct form of taxation, many jurisdictions are increasing fines as a means of balancing the books.

A traffic officer will cost his department the average of $75,000 per year while he can be expected to issue between $150,000 to $200,000 in speeding ticket citations. There are few businesses that can equal that rate of return. Some towns like New Rome, Ohio and Waldo, Florida take in over 70% of their entire town budget through speeding tickets.

What does this mean to you, the safe driver who has not received a traffic citation in years? It means that you are now more likely than ever to see those dreaded blue lights flashing in your rear view. If that does happen you need to know that the true cost of a speeding ticket has changed drastically in the last few years.

Consider Mary, a successful sales representative who enjoys the perk of a company car. She travels extensively and has received four speeding tickets in the last three years. She considers herself a safe driver and in each instance was traveling with the flow of traffic on the interstate. She has 9 out of the 12 points on her driver’s license. Imagine her surprise when her company’s insurance carrier refused to allow Mary to drive a company car. The company obtained supplemental insurance but Mary had to pay the extra $1600.

Then there is Jeffrey, a CDL truck driver from Ohio who is an independent operator and owns his own truck. He drives 150,000 miles per year and has five tickets on his record, none a serious violation. He is unable to obtain insurance that he can afford. He is in the process of losing his truck to the finance company and does not know how he will support his family.

Families with teenagers may face an economic disaster if the teen driver receives a citation. One traffic ticket for rolling through a stop sign could cost as much as $3000 in increased premiums over the three years it remains on their record. The insurance industry considers young adults as teenagers until the age of 23.

The purpose of relating Mary and Jeffrey’s stories is not for you to feel sorry for them. It is to impress upon you the severe consequences that may result from a traffic ticket. It is important to obey all traffic laws, not just for your physical protection but also for the health of your pocketbook. I have found that many people are more concerned about their pocketbook than their personal safety.

Making The Figures Add Up

I got asked a question today about the sub prime motor and thought I would share it here.
The question was along the lines of "How can the finance company know who is going to pay and who isnt going to pay"

Well this is quite interesting because, we don't. What we do know, using our existing data is that if we lend to 100 customers aproximately 20 will not pay. So this raises an interesting question about pricing and rate for risk etc.

In the old days there would be a model for offering a "rate for risk" plan. Oh yes, the concept sounds good - get the people who are higher risk to pay more, however, it is totally flawed. This is because, you only make money if people pay you back (end of). If the higher risk customers dont pay, it makes no difference what "rate for risk" price you made. The other thing is that the customers more likely to pay will be less likely to take the higher rate, therefore making the overall "rate for risk" top heavy with desperate customers who have no intention to pay.

So, then how does it work in practice? Well, in essence its very straight forward. Remember the 80 will pay and the 20 will not?, well the 80 who pay, have to provide enough profit to make up the shortfall from the 20 that dont pay, hence the rates being higher in sub prime lending. Sure you will get some return on repossessions of vehicles of those 20 non payers, however, the cost of collecting on those accounts, sale costs and legal action etc. will swallow much of this up.

Therefore I would ask that for those righteous people who believe that these customers are getting "ripped off" think about it a little more. Heres an analogy, if your wanting to grow 100 tomato plants, you dont plant 100 seeds - you know that some wont make it, so you compensate for that.

i hope this makes things a little more easier to understand

Car finance and bad credit

Car finance has become one of the basic necessities of the contemporary world. All the daily chores, be it buying grocery to catching up with important business dealings, all become simpler with the aid of a car. The problem arises when you don’t have enough finance. The situation becomes worse if you have a bad credit history. You can be tagged to bad credit due to various reasons such as:

Bankruptcy
Slow credit or No credit
No proof of income
Self-employed status
Individual Voluntary Agreements or IVA’s
County Court Judgments or CCJ’s
Arrears
Defaults

Bad credit can make your financial life a drag. With the growing standard of living, one can barely fulfil basic necessities with his regular income. In the modern world, basic necessities not only include food, home but also a car. This is when bad credit car finance can come to your rescue. Remember, it would be attached with a higher rate of interest, due to a bad credit history.


It can be quite a challenging task to locate suitable car finance with bad credit. Yet with a growing number of bad credit loan providers, your difficult task has eased to a great extent. It is recommended that you should undertake some research before you choose upon bad credit car finance to satiate your needs. You can navigate through the various loan quotes that can help you to pick the right car finance to customize with your personal state of affairs. Loan calculator can aid to evaluate monthly instalments, which can mould to your situation. Loan expertise too, which is offered by many loan providers can enrich your knowledge and put you at the helm of dealings.


Bad credit can no longer deny you to finance your dream car. You can go ahead with car financing either a used or a new car without bothering about a bad credit. With bad credit car finance you can avail benefits such as:

Reinstate your credit standing
Improve chances of better loan opportunities in future
Don’t let bad credit purge your desire to purchase a car. Avail yourself of bad credit car finance and make your dreams a reality.

How to get a better deal from your garage

A car owner’s guide
to servicing and repairs...
Servicing your car will make it last longer. It also makes it safer for you, your passengers and the environment. Here are some tips to help you avoid dodgy garages, get effective work done and achieve good value for a service or a repair of your car. If you have car finance bought from a dealer, the last thing you want is to be paying huge bills as well as your monthly payments for your motor.

START NOW
• Don’t wait until you need a service or repair
• Spend time comparing garages beforehand
• Get your car serviced regularly
• Ask around about good garages

A RELIABLE GARAGE WILL CERTAINLY DO
SOME, OR ALL, OF THE FOLLOWING
• Display a menu of fixed cost works
• Tell you how much they will charge to diagnose a fault if it includes dismantling and putting back together
• Be a member of a trade association (such as the Motor Vehicle Repairers Association)
• Have trained staff and display certificates
• Have an auto complaints procedure

if your looking for car finance check out http://www.infinitycarfinance.co.uk/