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Choosing the Best Breakdown Cover for Your Vehicle

If you are interested in getting breakdown cover for you vehicle, it is important that you know exactly what to get. Everyone’s needs are different when it comes to this type of cover, and you need to know what your options are. Breakdown cover can be extremely helpful in a number of situations, but there are different levels to choose from.

Levels of Breakdown Cover

The following is a list of the most common levels of breakdown cover that you’ll have to choose from. Each level has something different to offer, so you’ll need to weigh your options carefully.

Roadside Cover

This level of breakdown cover is the most basic and affordable. It will allow you to get your vehicle towed if it ever breaks down. Your vehicle will be taken to a local garage so you can get whatever is wrong with it fixed. Those who ever find themselves in this type of situation will definitely be glad they have this level of cover.

National/Breakdown Recovery

Breakdown recovery will allow you to get your vehicle towed anywhere in the UK if it stops working while you are driving. You and your passengers will also be given a ride to a location of your choosing. This particular level of cover is a good idea because you won’t be limited to the nearest garage.

Home Start

This option can provide you with care hire or reimbursement for public transport expenses if your car stops working before you leave home. Plenty of people know the feeling of going to their car in the morning only to find that it won’t start. If you ever encounter this problem, having home start cover will minimize your frustration and inconvenience.

Additional Cover

You will have the option to add additional levels of cover to your insurance policy, and they are worth taking a look at before making a decision.

European cover will provide you with access to recovery services even when you are outside of the UK. If your car were to break down while you are travelling in another country in Europe, this cover can be of great use. You can choose to get European cover for a single trip for a nominal onetime fee. It is crucial that you take a close look at the fine print so you understand all of the terms and conditions before agreeing to anything.

Key cover is another add-on option that can be of great use if you ever lose your keys or they are stolen. You can utilize this cover to get new car keys and replacement locks. If you have an alarm on the car, it will be reset. There is a yearly limit to these claims, but it can definitely be useful.

You can also opt to get cover for repairs that are needed after your vehicle breaks down. This option is significantly cheaper than an aftermarket warranty, and it can save you a lot of money over time. It is important to keep in mind that this cover only applies to repair work that is required following a breakdown.

Multi-Person Packages

Sometimes it is a lot cheaper to get a policy that includes you and your family members instead of just yourself. While you always have the option of adding someone else later on, you will have to pay a fee for each person. It doesn’t cost that much more to cover a family, and it is well worth the additional expense.


You will find that there are certain things that even breakdown cover will not help you with, and you’ll need to know what they are. Most policies will not cover breakdowns that are the result of putting the wrong type of fuel in your car. There are policies that can provide you with cover for this, but you will almost certainly end up paying more.


Some providers place a limit on the number of times that you can request a callout within a year, so you will need to check with yours ahead of time. You might be rewarded in some way if you don’t make any callouts at all. It’s always a good idea to ask your provider if you are entitled to any discounts when renewal time comes around. Most of these companies are willing to go out of their way to help good customers in the spirit of keeping their business away from the competition.

When you are looking for the right breakdown cover to match your needs, it is important that you know about the levels of cover that are offered. Those who take the time to get this information will be able to select the best overall policy. This cover can be of great help in many situations, but you’ll need to make an informed decision.

Why Getting a Business Loan is a Good Idea

Upon starting up a business, most entrepreneurs may find themselves in the position of not having enough capital to fully launch the business, or make sure that it survives. There are also times when small, and even medium businesses wish to expand their operations, and launch numerous new products and services, yet, this can be quite hard without enough money in the bank to invest.

There’s an old saying that states that to spend money, you first have to make money. Based on this, if you truly want your business to grow, a certain amount of capital may need to be invested into advertising, equipment, property and advertising. The solution meant to solve this lack of capital, may be to get a small business loan. Taking on debt is indeed a scary experience for most business owners, as they may soon find themselves unable to pay back their debt if unwise business decisions are made, yet, this is rarely the case.

In this article, we will outline five of the main reasons why you might want to get a loan for your small business.

1. Expansion

Investing money in your business can help you expand your service, thus increase your profit. This represents an ideal that all business owners have. However, a business growth also requires the investment of more money into numerous processes, such as buying new offices, hiring more people, better marketing yourself, purchasing new equipment and more. Unless you take money from the funds that help you operate your business, or from the small profit, then chances are that you will need a loan.

Business loans have the potential of helping entrepreneurs cover all the expenses associated with expanding a business, while also keeping the operational costs intact. This means that you will not have to sacrifice the quality of your service, or fire your employees for a business expansion.

2. Cash Flow

Continuous cash flow represents a huge problem for small businesses, especially if you happen to be dealing with customers who refuse to pay for the service, or you need a bit more cash to keep up with the raising operational costs. These issues tend to get considerably more problematic if you decide to take the funds spent on rent, mortgage, staff, utilities and inventory into account as well. A higher cash flow will also allow business to try out new services, and avoid potential losses that may come from unsold inventory, customers who refuse to pay, higher taxes, fines and any other unexpected costs that may arise.

3. Inventory

In case your business trades products and not actual services, then chances are that you may be struggling to keep your inventory full at all times. In fact, inventories represent one of the most difficult expenses to manage, considering the fact that you have to invest in purchasing the products, prior to selling them to your customers. By making the move and taking a loan, you will be able to both stay ahead of the current trends, while also keeping up with the demand for your products, without running out of money, which is great news for any small business owner.

4. Paving the way for a future, higher loan

Getting a loan without a valid credit history on your business can be quite difficult, considering the fact that no lender is willing to loan out large sums of money to a firm with absolutely no credit history. With this in mind, taking a small loan now, even if you don’t really need it, and paying it back on time, can drastically improve your credit score, thus paving the way for future loans that your company may need.

It is indeed not recommended for small businesses to accumulate debt, but in the right circumstances, this is indeed required.

5. Purchasing new equipment

Regardless of the type of business that you are running, new equipment is always necessary to keep up with the current trends. Based on this, making an equipment investment can both increase your number of sales, customers and profit, but it can also require a loan. Updating your equipment from time to time is also essential to staying on top of your possible competitors, gaining more customers and avoiding losing any of your old, recurrent customers.

Based on everything that has been outlined so far, even if you do not think that you are truly in need of one, a business loan may just end up saving your business, and guiding it on the way to success. As outlined above, there are also times when a small business loan is required to make sure that you will be able to access a larger loan if it ever comes down to needing to do so.

Payday Loans vs Personal Loans

If you’re ever in the need of a loan, understanding the main differences between payday loans and personal loans represents an essential aspect that can influence whether you make the right decision or not.

With this in mind, in this article, we will discuss about some of the main similarities and differences between the two types of loans, and attempt to give readers a better idea on what may be suited for them, based on the financial situation that they are dealing with.

The similarities

Both personal and payday loans consist of borrowing a small to medium amount of money, and paying it back within the agreed timeline. Both consist of interest fees, depending on the sum that you want to borrow, the turnaround time for paying back your loan, and last, but not least, the agency that you are getting your loan from.

The differences

Personal loans are considerably cheaper when compared to payday loans, yet generally require borrowers to have a good credit score, to be fully eligible. In case you do happen to have a good credit score, make sure to do all the needed research and choose the company that seems to suit you best. If you do not, then chances are that you will be eligible for a smaller, yet, still viable, payday loan, especially if you’re dealing with a financial emergency.

Payday loans are normally meant for people with little credit, no credit at all, or even bad credit. They are popular for the fact that they’re issued quickly, and do not require too many documents to be submitted. While you will definitely be asked for identification documents, and proof of employment, or monthly income, some lenders also require a checking account. Based on this, if you don’t have the time needed to go through the processes required for a personal loan, then, a payday loan might just be a considerably better option for you.

Personal loans can be repaid over a few months, or even years, with low, monthly or bi-monthly payments. They are also known for carrying lower interest rates, especially for bigger sums. Based on this, you can expect to save more with a personal loan, when compared to a payday loan. Current studies have shown that normally, a person borrowing $100 form a payday loan agency, can expect to pay back around $10-15 in interest fees. Of course, this depends based on the agency that you are getting your loan from, which is why research is essential.

On the other side of the spectrum, payday loans are expected to be paid back within a couple of days, or weeks. They are meant to help bridge an income gap, and help you get your hands on some immediate cash, whenever you are dealing with any sort of emergency financial situations, such as your car breaking down, needing do undergo a medical procedure, clearing debt and more. Additionally, it is often recommended that payday loans are not taken too often, as this can lead to more debt in the long run, while putting you on the path of living pay check, by pay check, which is unwanted by most people.

Personal loans are also known for the fact that they are more flexible in terms of the sum being borrowed. While most payday loan agencies offer loans ranging from $50 to around £1,000, personal loans can even reach a few hundred thousand dollars, depending on your credit score, income and the collateral that you are willing to offer as guarantee.

By understanding these key differences, you will be able to make a more informed choice, and help yourself determine which type of loan is better suited for you. To put things better into perspective, if you need some quick cash, which you can repay back quickly, then payday loans should suffice, regardless of slightly higher interest rates (especially if your credit score isn’t too good). On the other hand, if you need more money in the form of a loan, extended over several months, it’s best to reach out to your bank, and other long-term loan companies, as they may be able to issue offers that better suit you and your current needs. There are, of course, some eligibility issues, but by doing some smart market research, you’ll quickly be able to determine whether you are eligible for either payday or personal loans, or even both, in case you have been blessed with a good credit score.

Based on everything that has been outlined so far, both personal and payday loans are meant for different situations. Most of the times, it should be quite easy to categorize whether you are in need of a payday loan, or the rather.

How Payday Loans Help Millions of People

During the last couple of years, the payday loan industry has boomed in areas from all around the world, considering the fact that most agencies offer customers a quick and efficient way to get access to some emergency money that they can use in case any event that requires financial aid takes place.

However, regardless of this, not many people understand why payday loans have been proven to be beneficial for millions of people in the United States alone, and many more million in other regions of the world. Well, this lack of understanding is mostly due to the controversies surrounding payday loans. Luckily, considerable action is being taken by the US Department of Justice alongside with state regulators, who are actively targeting mysterious payday loan providers, which tend to engage in scammy practices of all kinds. In return, this helps the market stay clean with only providers that are honest, and willing to carry out all of the services that they advertise.

For those who do not know, payday lending is a relatively simple process. Imagine that your car breaks down, and that you have already reserved a holiday weekend a few hundred kilometres away, or you have to get somewhere as soon as possible, but you don’t have any cash left for the repairs. As long as you’re employed full time and receive a monthly salary, you may be eligible to get a payday loan, which represents a sum of money, typically between £50 to £1,000 given for a limited period of time, usually around two weeks.

Most of the times, the normal payday loan transaction is completed in around 15 minutes, which is exceptionally fast when compared to the turnaround times for banks. Some agencies may even provide you with the money during the same time, thus making everything considerably quicker. Upon applying for a payday loan, you’ll only have to submit a couple of documents, including personal, employment and bank account information, which eliminates the need to write complex loan applications, have your credit checks, offer much as collateral and simply waste time in banks.

While banks are definitely better suited for those who would like to take a loan extended over a couple of months or even years, payday loans are meant for people who need a low amount of money immediately, and do not wish to borrow it from friends and family, due to the issues that they can arise.

The benefits mentioned above only represent the first reason on why payday loans are currently helping out millions of people from all around the world. The second reason is a bit more complex.

According to recent reports, it seems like tens of millions of middle-income American citizens are forced to live pay check to pay check, which is quite troublesome, considering the fact that most of these people lack an emergency fund and do not have saved money to use in case of a financial crisis. While they do their best to make sure that they live well, and that all of their obligations are paid so they not accumulate debt, any surprise expenditure can be quite disastrous, as they’ll quickly run out of money. Some examples of this include an emergency doctor’s consultation, funeral, wedding, being demoted from a position, needing to help someone else, higher taxes and so much more. Such events can then encourage the appearance of a bigger need for short-term credit, thus the need to apply for a payday loan.
Other people tend to worry about the taxes associated with these form of loans. While they are definitely not very small, the price is understandable considering the efficiency of payday loans, and the fact that no bank in the world is capable of providing a similar service due to the high transaction costs.

In the long run, it is not recommended to live payday loan by payday loan, however, as this will just lead people to accumulate debt, and attempt to clear the pending loan, before asking for the next one. This leads to another benefit of payday loans, and that is the fact that they strive to encourage people to budget better, and find smarter ways of working with their money, thus paving the way to financial freedom.

Based on everything that has been outlined so far, the reasons mentioned are some of the main ones that really explain how and why payday loans help millions of people throughout the world, and how they have managed to become a billion dollar market in less than a few years. Payday loans will be around for many years to come, so in case you’re ever in need of some emergency cash, then chances are that there’s an agency open closer than you might imagine.