A Bank Account With No Overdraft Fees – Consumer Reports #overdrafts, #prepaid #cards, #chase, #bank #of #america, #wells #fargo, #citi, #overdraft #penalty, #penalty, #direct #deposit, #mobile #check #deposit, #cashless #society, #person-to-person #payments, #p2p


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A Bank Account With No Overdraft Fees

If you’re bedeviled by overdraft fees that can cost $25 to $35 a pop, try this: Get a bank or credit union account that is designed to prevent overdrafts. If your balance does go into the red, the financial institution won’t charge you a penalty.

The nation’s five largest banks—Bank of America, Chase, Citi, U.S. Bank, and Wells Fargo—now offer these so-called lower-risk accounts, which offer just about all the same services a regular checking account provides but do not charge overdraft fees.

Citi’s Access account, for example, provides a debit card for retail store and online purchases, free cash withdrawals at thousands of Citi ATMs, direct paycheck deposit and mobile check deposit. and online and mobile banking and bill-payment.

The monthly fee for this account at Citi is $10, but it’s easily waived if you have one direct deposit per month of your paycheck, pension, or Social Security or other government benefit, or make one online bill payment per month. At the other banks the monthly fee is around $5.

The main difference between these bank accounts and regular checking: You can’t write paper checks. That’s how the bank prevents overdraft fees; all of your banking is done electronically via the debit card, which allows the bank to disburse funds only up to the amount you have on deposit.

Not offering paper checks is less of a problem than it may seem, because America is well on its way to becoming a cashless society. With online bill-pay, for instance, you make payments electronically, and if the biller hasn’t yet gone digital, your bank or credit union will print and mail a paper check for you free—no checks, envelopes, or postage stamps to buy. With person-to-person (P2P) payments. you can send money digitally to virtually anyone.

How much did you spend last year on overdraft fees?

Tell us in the comments section below.

Hidden Advantage

If these lower-risk accounts sound a lot like prepaid cards, you’re right. They are prepaid cards. That’s exactly what Chase calls its Liquid card and what Wells Fargo calls its EasyPay card. The other three use names that don’t quite sound like either checking or prepaid: Citi Access. Bank of America SafeBalance Banking. and U.S. Bank Safe Debit Account .

In recent years, prepaid cards issued by American Express, Walmart, Green Dot, and other brands that you might not think of as banks have evolved to become more like checking accounts. With the exception of Chase, whose Liquid card ranked highly in our ratings of prepaid cards. these major banks are playing catch-up.

“Those leading the prepaid card bandwagon are credit unions, Walmart, Amex, and Chase,” says Mike Moebs, economist and CEO of Moebs Services, a Chicago-based consulting firm that tracks bank and credit union pricing and products. About 30 percent of credit unions offer prepaid cards vs. 18 percent of banks, according to Moebs’ latest survey of 3,800 financial institutions.

Banks offer one big advantage that makes their prepaid cards even more like checking: They maintain networks of branches and ATMs, where cash deposits can be made. Non-bank prepaid cards usually have no branches, so their cardholders have a harder time depositing cash to their accounts. Non-bank prepaid cards do have ATM networks, but cardholders usually cannot make cash deposits via those ATMs. Instead, they must rely on participating retailers, where they can load cash onto the cards.

Benefits for Low-Income Consumers

Lower-risk accounts might be a little hard to find because banks don’t always prominently promote them.

Banks offer these accounts to help low-income consumers, who often get snagged by overdraft fees that they can’t afford. That can push them away from traditional banks and into the arms of overpriced alternative financial service providers, such as check-cashing storefronts and car title lenders .

The lower-risk accounts can help re-open the doors to essential banking services for these underserved consumers. Last February, Richard Cordray, director of the Consumer Financial Protection Bureau, urged the nation’s top 25 retail banks to offer and promote lower-risk accounts by featuring them prominently on their online checking account web pages and in their other marketing efforts.

The lack of marketing for these products has lessened their visibility, Cordray said, and the concern is that the consumers who need these accounts most don’t know they exist.

But when we looked at the five biggest banks’ checking account web pages in late September, using a California ZIP code to let the bank know our location, their lower-risk accounts were still hard to find. On Wells Fargo’s checking account web page, for example, the bank’s regular, interest, and rewards checking accounts were easy to find on the first page of the site. But we had to scroll down to the bottom of the page to find a link to EasyPay.

It was a similar situation when looking for Bank of America SafeBalance Banking and the U.S. BankSafe Debit Account. Chase Liquid was not even on the checking account menu. Citi, however, had the most prominent positioning. Its Access account was included in a comparison of all Citi checking accounts.

Shopping links are provided by eBay Commerce Network and Amazon, which makes it easy to find the right product from a variety of online retailers. Clicking any of the links will take you to the retailer’s website to shop for this product. Please note that Consumer Reports collects fees from both eBay Commerce Network and Amazon for referring users. We use 100% of these fees to fund our testing programs.


Vehicle Personal Property Taxes – Taxes – Payments #classic #cars #for #sale


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Vehicle Personal Property Taxes

2015 Vehicle Personal Property Notices

The 2015 Vehicle Personal Property notices have been mailed. The notices show the information we have on record for vehicles you own.

Note: leased vehicles and vehicles added after March 1, 2015 are not included in these notices.

Verify the information is correct and complete. If the vehicle information, your name and address, and your exempt designation are complete and accurate, you do not need to do anything. If there are inaccuracies or changes to the printed information, report them to our office on or before May 1, 2015, to avoid being taxed incorrectly.

To report inaccuracies or changes to our office, please do one of the following:

Vehicle Personal Property Taxes

All cities and counties in Virginia have a personal property tax which helps fund local government. For Arlington County residents, the tax is assessed on all motor vehicles that are garaged (regularly parked) overnight in Arlington County, including:

  • Trailers
  • Motor Scooters
  • Semitrailers
  • Boats
  • Aircraft

The tax also applies to vehicles that:

  • Do not display Virginia license plates (these vehicles may also be required to pay an annual fee )
  • Are inoperable
  • Are temporarily absent from Arlington (removed for a short period with the intent to return)

Vehicles are also required to display a county decal .

Vehicle Personal Property Tax Exemptions

Military Exemption

The Servicemembers’ Civil Relief Act  exempts active duty military  personnel from personal property tax in any state other than their legal state of residence.  Therefore, vehicles titled in an active duty non-resident military person’s name(s) will be exempt as long as each owner furnishes a Leave Earnings Statement (LES) for the period of situs (physical presence in this locality/state).

To apply for this exemption, active duty members are asked to submit:

  • A completed  application
  • A copy of the servicemember’s LES that corresponds to the month and year in which the vehicle was either moved into Arlington County or purchased

Spouses of military servicemembers may be eligible to be tax exempt on personal property registered in their names or titled jointly with their servicemember-spouse based on certain qualifying conditions provided in the federal “Military Spouses Residency Relief Act”.  To apply for exemption, the following documentation is required:

  • A copy of the LES for the active duty spouse as stated above
  • A copy of the non-military spouse’s military ID card (front back)
  • An affidavit from the non-military spouse attesting that he or she is ONLY stationed in Virginia in compliance with the military spouse’s orders
  • Proof of spouse’s legal state of residence or domicile (acceptable documentation includes a copy of a voter registration card, driver’s license [front back], or personal property tax bill)

Once approved, the Commissioner of Revenue will annually mail a Vehicle Personal Property Tax Notice indicating that an exemption has been provided. Any changes that might affect the active duty member’s exempt status must be reported at this time by returning the form, or contacting our office at 703-228-3135. In addition, the active duty member and/or qualified spouse may be asked to provide certain documentation annually as continuing proof of exemption.

Student Exemption

If you are a full-time student with a vehicle registered in a state that has personal property taxes and you are the sole owner of the vehicle, you may be exempt from Arlington County personal property taxes. To find out if you qualify please call the COR office at 703-228-3135 or visit the office at 2100 Clarendon Blvd, Suite 218.

Any motor vehicle owned by the State or any political subdivision or by the United States government may be exempt from Arlington County personal property taxes. To find out if you qualify please call the COR office at 703-228-3135 or visit the office at 2100 Clarendon Blvd, Suite 218.  

If you are a foreign diplomat and your vehicle is registered with the United States Department of State, you may be exempt from Arlington County personal property taxes. To find out if you qualify please call the COR office at 703-228-3135 or visit the office at 2100 Clarendon Blvd, Suite 218.  

Note: Under any circumstance, if your vehicle is leased, you do not qualify for personal property tax exemption.

Tax Assessments

The Commissioner of Revenue’s Personal Property Tax Division assesses all Arlington vehicle personal property taxes, based on:

  • The County Board’s set tax rate (for 2015, the tax rate has been set at $5.00 per $100 of assessed value).
  • Your vehicle’s value. (The Commissioner uses the Clean Loan value in the January [of the tax year] edition of the  “National Automobile Dealer s Association Used Car Guide” for vehicle assessments.)
  • The number of months your vehicle was located in Arlington.
  • The amount of tax relief your vehicle is provided.
  • The Code of Virginia and local ordinances.

For more information on tax assessments or vehicle personal property taxes, contact the Personal Property Tax Division:

  • Call Center. 703-228-3135
  • DMV Select Service Counter (Mon.-Fri. 8:30 a.m.-4:00 p.m.): 804-497-7100
  • Vehicle Personal Property Service Counter (Mon.-Fri. 8 a.m. 5 p.m.):

Commissioner of Revenue

Vehicle Personal Property Tax Division

2100 Clarendon Blvd. Suite 218


Take over payments on Craigslist cars – A great way to save money on Craigslist used cars #cheap #used #cars #for #sale


#take over car payments
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Take over payments on Craigslist cars A great way to save money on Craigslist used cars

by Craig Miller on June 9, 2011

While browsing through the Craigslist cars website, you may have noticed a few advertisements asking car buyers to take over car payments. In most cases the vehicle is being sold in an effort to salvage ones credit. Those who are selling their vehicle to anyone interested in taking over payment are generally in a tight financial situation due to loss of income or overspending. When purchasing a car in this manner, you can really land a great deal on a fairly new car. One of the first questions that you should ask a car seller who is using this method to sell their vehicle is how many more payments are left on the vehicle and what is the total payoff amount. A seller who has only owned the vehicle for a few months is generally less appealing than one who has owned it for at least 2 to 3 years. With only a year left in payments, you can own a car for just a fraction of the amount that you would pay anywhere else.

There are of course a few things that you should watch out for when taking over someone s payments. Some may choose to sell their car because they are upside down on their car loan. Being upside down on a loan simply means that you owe more money on the vehicle than it is worth. In this case, you would be purchasing a vehicle above its retail value which is certainly not a good deal. Do your homework before making the decision to purchase a car. Understand the vehicles book value and determine whether or not it may be a good deal for you. Another thing that you should be aware of is that the vehicle may have a lien against the title. It is not uncommon for someone who is in a difficult financial situation to take out a loan against their vehicle. Check to make sure that there are no existing liens against their vehicle or you may get caught in a difficult situation. There are a number of other issues that you may encounter when purchasing a car using this method. Be sure to proceed with caution and ask the seller a lot of questions before making a decision. If something does not seem right that it is best to walk away quickly and check out the next deal.

As you can see, there are some ups and downs associated with buying a car in which you take over payment. As always, you will first want to do your research and know exactly what you are buying. By making an informed buying decision, you will be sure to get a great deal almost every time. No matter what you are looking for, whether it is a car, truck, recreational vehicle, or even a delivery truck, there is no other website around that offers such a large selection of used cars as Craigslist cars. More information will follow on buying a take over payment vehicle. Whether you are buying or selling a used car. Craigslist is a great place when it comes to cars.


Honda Cars Mobile Site: Estimate Payments #personal #car #leasing


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[1] MSRP excluding tax, license, registration, $835.00 destination charge and options. Dealer prices may vary.

[2] MSRP excluding tax, license, registration, $900.00 destination charge and options. Dealer prices may vary.

[3] Subject to limited availability through September 2014 to residents of CA, OR, MA, RI, CT, NY, NJ, and MD on approved credit through American Honda Finance Corp. Closed end lease for 2014 Honda Fit EV for well-qualified lessees. Not all applicants will qualify. No purchase option at lease end. MSRP $37,415 (includes destination). Excludes tax, title, license, fees, registration, options and insurance. Total monthly payments $9,324. Lessee responsible for non-routine maintenance and excessive wear/tear. Lease includes collision coverage, routine maintenance, roadside assistance, unlimited mileage, and navigation system updates. Total due at lease signing is $259 plus tax and title and includes first month’s payment. Please see your authorized Fit EV dealer for complete details. For lessees who elect to install 240-volt charging equipment in their home, the charging equipment (hardware only) will be provided by Honda, the lessee remains responsible for installation and installation materials.


How to Take Over Car Payments When Buying a Used Car #invoice #price #for #cars


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How to Take Over Car Payments When Buying a Used Car

One can take over car payments or assume a car loan. It is a good idea for an individual who doesn’t have the upfront cash or money for a car. This article will show you how you can take over the loan.

Tools and Supplies Needed

  • Car Title
  • Proof of Income
  • Proof of Residence
  • ID/Drivers License

Step 1: Contact Loan Company

Contact your loan company and find out what will be required for the process before you go and begin it. In many instances, you will be required a down payment. So be prepared for that as a requirement and find out how much it should be before you pay it. This way you can be sure you have the money ahead a time.

Check your credit and FICO score before you go in. They will likely run a credit check on you, and you want to make sure it is in good standing. Otherwise, your interest rate may change than want the previous owner held. So be sure to find out what it is and know what to expect when you sign over the car payments.

Much like a regular loan, you will need to be “approved” before you can sign the paperwork and make a payment schedule. So that can take up to a week or two, though some do have instant results. That will depend on the credit company and how they work.


Taking Over Payments on a Car Loan: Learn to Take Over Payments on a Car Loan the Right Way #used #car #sale


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Bright Hub

Taking Over Payments on a Car Loan

slide 1 of 3

The Wrong Way

There is a wrong way to take over payments on another person’s car loan. If a person asks you to make the payments on their behalf while the car loan remains in their name, a few situations may occur. Here is the downside if considering taking over payments on a car loan:

    You make the payments until the vehicle is paid in full while the title remains in your friend’s name and shows the lender as the lien holder. These payments will include the loan balance, fees, and add-on such as GAP Insurance. Once the vehicle is paid off, the lender will release the title to your friend or relative and you have no legal rights to the vehicle, no matter what was promised.
    You give the monthly payment to your friend each month with the understanding they will use it to make car payments and in turn, they are only using your money for other expenses and no payments are made toward the balance on the vehicle. In this case, most likely the lender will repossess the vehicle and you still have no legal rights to the vehicle.
    The car owner does use your money to make the monthly payments, however, once paid off, because neither the loan or the title are in your name, even if they give you the car, you can’t register or insure it if they don’t turn the title over to you.

All of these examples are the wrong way and don’t consider your legal rights to the car and should be avoided.

Image Credit: Bad Credit Car Loan by Kerembeu21/Flickr Creative Commons


Can Anyone Take Over Payments on a Car Loan? #free #car #valuation


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Can Anyone Take Over Payments on a Car Loan?

Promoted by

Modify or Get a New Car Loan

As personal finance website Financial Web notes, you can take two different paths in handing over your car — and the loan payments that go with it — to a different party. One path may be more beneficial than another for you or the new borrower.

Modified loan. With this route, you contact your lender and say you are selling your car to someone else. Subject to the lender’s approval of the new person’s creditworthiness, the loan is rewritten with the new person as the borrower. You might have to pay additional processing fees and an early payoff charge, so go over the figures with your lender and, if necessary, consult with your attorney about the legal ramifications.

Tip

Loans.org recommends requesting that the lender confirm in writing that the obligation of the loan has been transferred.

Private party or person-to-person auto loan. To obtain this type of loan, you must follow a similar loan process as for a dealership loan, except you are dealing with lenders who specialize in private loans to finance the purchase of used cars from private owners. Websites such as CarLoan2 offer a centralized service where you can compare quotes from different private party lenders. Loan rates tend to be higher for this type of loan than conventional loans; however, interest rates also depend on the borrower’s credit.

Meet Car Loan Requirements

While the logistics of the new borrower acquiring a new loan may not seem to be your responsibility, the ability of the new owner to obtain a loan impacts how quickly you can get out of your own loan. Furthermore, if the new owner is a family member who may not be financially ready to pay down a large debt, the new car loan could impose undue hardship on him. So the new borrower must have financial means and equal or better credit than you do.

The new borrower should be able to meet these standard car loan requirements by furnishing the following documents:

  • Proof of residence
  • Proof of identity
  • Proof of income
  • Proof of insurance

Additionally, the new borrower needs:

  • Credit rating — preferably a good one, to obtain the lowest interest rates
  • Down payment

Once you secure a new or modified loan, you and the new owner must appear at a Department of Motor Vehicles office with your drivers’ licenses to change the title on the car to reflect the new ownership. Write up a bill of sale to facilitate this process.

Tip

Once you’ve transferred ownership, cancel your existing car insurance policy with your insurance company. The new owner should obtain his own insurance for the car. If you will continue to drive the car, the new owner should add you to his policy.


Take over payments on Craigslist cars – A great way to save money on Craigslist used cars #student #car #insurance


#take over car payments
#

Take over payments on Craigslist cars A great way to save money on Craigslist used cars

by Craig Miller on June 9, 2011

While browsing through the Craigslist cars website, you may have noticed a few advertisements asking car buyers to take over car payments. In most cases the vehicle is being sold in an effort to salvage ones credit. Those who are selling their vehicle to anyone interested in taking over payment are generally in a tight financial situation due to loss of income or overspending. When purchasing a car in this manner, you can really land a great deal on a fairly new car. One of the first questions that you should ask a car seller who is using this method to sell their vehicle is how many more payments are left on the vehicle and what is the total payoff amount. A seller who has only owned the vehicle for a few months is generally less appealing than one who has owned it for at least 2 to 3 years. With only a year left in payments, you can own a car for just a fraction of the amount that you would pay anywhere else.

There are of course a few things that you should watch out for when taking over someone s payments. Some may choose to sell their car because they are upside down on their car loan. Being upside down on a loan simply means that you owe more money on the vehicle than it is worth. In this case, you would be purchasing a vehicle above its retail value which is certainly not a good deal. Do your homework before making the decision to purchase a car. Understand the vehicles book value and determine whether or not it may be a good deal for you. Another thing that you should be aware of is that the vehicle may have a lien against the title. It is not uncommon for someone who is in a difficult financial situation to take out a loan against their vehicle. Check to make sure that there are no existing liens against their vehicle or you may get caught in a difficult situation. There are a number of other issues that you may encounter when purchasing a car using this method. Be sure to proceed with caution and ask the seller a lot of questions before making a decision. If something does not seem right that it is best to walk away quickly and check out the next deal.

As you can see, there are some ups and downs associated with buying a car in which you take over payment. As always, you will first want to do your research and know exactly what you are buying. By making an informed buying decision, you will be sure to get a great deal almost every time. No matter what you are looking for, whether it is a car, truck, recreational vehicle, or even a delivery truck, there is no other website around that offers such a large selection of used cars as Craigslist cars. More information will follow on buying a take over payment vehicle. Whether you are buying or selling a used car. Craigslist is a great place when it comes to cars.


Taking Over Payments on a Car Loan: Learn to Take Over Payments on a Car Loan the Right Way #car #seat #cushions


#take over car payments
#

Bright Hub

Taking Over Payments on a Car Loan

slide 1 of 3

The Wrong Way

There is a wrong way to take over payments on another person’s car loan. If a person asks you to make the payments on their behalf while the car loan remains in their name, a few situations may occur. Here is the downside if considering taking over payments on a car loan:

    You make the payments until the vehicle is paid in full while the title remains in your friend’s name and shows the lender as the lien holder. These payments will include the loan balance, fees, and add-on such as GAP Insurance. Once the vehicle is paid off, the lender will release the title to your friend or relative and you have no legal rights to the vehicle, no matter what was promised.
    You give the monthly payment to your friend each month with the understanding they will use it to make car payments and in turn, they are only using your money for other expenses and no payments are made toward the balance on the vehicle. In this case, most likely the lender will repossess the vehicle and you still have no legal rights to the vehicle.
    The car owner does use your money to make the monthly payments, however, once paid off, because neither the loan or the title are in your name, even if they give you the car, you can’t register or insure it if they don’t turn the title over to you.

All of these examples are the wrong way and don’t consider your legal rights to the car and should be avoided.

Image Credit: Bad Credit Car Loan by Kerembeu21/Flickr Creative Commons