Five Considerations for Your Bad Credit Car Loan

A less than perfect credit score can sometimes be a barrier to even simple purchases such as a new car. There are many providers offering bad credit car loan solutions, which can provide a way to secure the finance needed. However, the range of bad credit loans can vary greatly and it is important to understand the considerations many lenders will assess on your application. This can affect whether you are approved and the type of rate you may be offered.

1. Bankruptcy:

Bankruptcy is a fact of life in tough economic times. However, although it is more common, you should be prepared that if you declared yourself bankrupt in the last twelve months, you may struggle to secure finance. Some lenders do specialise in providing loans to people with bankruptcy on their credit record. Therefore, it can be beneficial to find out the exact date of your bankruptcy declaration to determine if it is a good time to apply. If you are approaching your one year anniversary, it may be a good idea to speak to a specialist lender or broker to check their policies regarding those declared bankrupt. This could allow you to organise anything you may need but you should be prepared to be very forthcoming and open about your information.

2. Security:

Security provides reassurance for lenders of your financial intentions. Most lenders offering a bad credit car loan will require some form of security on loans over $3000. Usually, this is the vehicle itself, but the vehicle cannot be used to secure additional loans if it has already been used as security. Even if you are applying for a smaller amount, by offering a down payment or security, you may find that you are offered more competitive rates or terms.

3. Employment

Almost every lender will require some assurance that you have sufficient income to cover the cost of the loan. Some lenders may allow for self employed people to self certify their income if they have no records or books to prove their income. However, when a poor credit rating is involved, lenders usually require more assurance that you are financially able to meet the monthly repayments. Many lenders will require copies of pay stubs or bank statements to show you have sufficient income. Certain forms of pensions, youth allowances or study grants are unlikely to be acceptable forms of income.

4. Documentation:

In many cases, lenders will require documentation such as copy bank statements. This is usually the statements for the last one to three months. The lender will be looking at if the account is in good standing, not going over drawn or having unauthorised borrowing charges imposed. They will also check if an amount of pay is being deposited regularly and if the servicing of any payments or debts matches the information you have provided. Red flags for lenders include direct debits to lenders you have not mentioned on your application, frequent withdrawals from inappropriate organisations such as gambling sites, and unauthorised borrowing.

5. Applications:

You should also be aware that applying for multiple loans can have a very damaging effect on your credit rating. While it can be a good idea to research your options, don’t submit an application with multiple lenders. This will show on your credit report and discourage any potential lenders.

If you need assistance with a bad credit car loan, contact us. We are a broker with access to bad credit specialist lenders and would be happy to help you.

Bespoke software advantages and disadvantages

By making a decision to go forward with a bespoke software solution for your business, you can be giving your company a platform to grow, develop, and expand. However, many companies don’t invest in custom-made software, tailored for their specific needs and instead settle for off-the-shelf products.

Let’s find out whether or not they are the making the right decision.

Disadvantages Of Bespoke Software
In our experience, there are two main reasons that companies don’t always choose a custom software solution:

1) Initial Costs

The up-front cost is usually the biggest disadvantage associated with custom-tailored programs. Bespoke software projects often cost more than off-the-shelf solutions, due to the amount of time and effort needed to create masterpieces. Eventually, however, the benefits such software gives you can bring you much more money than you spend on it.

2) Waiting Time

Since bespoke software is created from scratch, you will need to wait some time for your developers to build it. However, as it is the perfect fit for your business, it is (in our opinion) worth the wait.

Advantages Of Bespoke Software
There are, on the other hand, numerous advantages of having your own bespoke software developed.

At Make IT Simple, our software developers have created programs that solve business problems, that improve efficiency and productivity, that improve business intelligence and performance measurement, and that help get a competitive edge. In many cases, the software we have developed has become the product for our clients, which is simply not possible with an off-the-shelf solution.

Here’s why many businesses choose to go with this option:

1) Individually Crafted Solution

Bespoke software is similar to a custom-tailored suit. It fits your parameters perfectly. Meanwhile, the suit you buy at a discount shop usually needs some adjustments to look good. The same is true for off-the-shelf products. They are an all-purpose solution, which can be used by many companies, and often you end up trying to change your business to fit the technology rather than fitting the technology to your business.

2) Return On Investment

While bespoke software development involves investment, you can often start experiencing financial benefits almost immediately. When it is well planned and well built, the time/human resource savings can quickly pay for themselves, as can the competitive edge you can gain from developing better systems than your rivals. Bespoke software also forms part of your company’s IP and can add value to the business.

3) Better Security

Common off-the-shelf products have one huge disadvantage: Hackers know all the ins and outs of such programs and often take advantage of the weaknesses. That’s why you can’t feel 100% secure when using such software. Meanwhile, custom-made programs are only exploited by your business, cutting the chances of hacks and break-ins to a minimum. It also reduces the incentive for hacking – with an off-the-shelf product, if you are successful in hacking one system you can potentially access thousands more.

4) Scalability

If your company grows or expands to cover other market sectors, the off-the-shelf solution may not cope – and you have little or no input in the way the system develops over time. Bespoke software can develop and grow together with your business. Make IT Simple offers lifetime product support to help you change the program whenever needed.

5) Time-Saving

Jim Rohn once said “Time is more valuable than money. You can get more money but you can’t get more time.” We create products that save you an impressive amount of time on software integration and employee training as well as automating and speeding up critical business processes.

Key Considerations for Architecting an impeccable Mobile eLearning app!

Have a look at some interesting numbers about the mobile eLearning industry:

Research by IBM established that every dollar invested in eLearning for training their employees, results in a gain of $30 in productivity, as they save a lot of time due to the application of new skills in the work.
As per a survey conducted by CertifyMe.net, an online training platform, approximately 72% of organizations said that online learning is quite impactful and provides a competitive edge to them.
Brandon Hall Group, renowned research, and analyst firm found that as compared to classroom training, eLearning needs 40-60% less time of the employees.
Amalgam Insights, a source for analyzing technology consumption management, forecasted that the market for corporate and academic eLearning would exceed $180 billion in the year 2018.
What do these numbers indicate?

Well, it is evident that mobile eLearning has a dazzling future. It is transforming the way people learn and gain knowledge. It is already topping the popularity charts. Consequently, numerous start-ups and even the biggies in the Tech World are entering this domain. It is no surprise that several eLearning app development companies have emerged as the world- class education companies across the globe.

What is Mobile eLearning?

Mobile phones have become undeniably important today in the education industry as they are widely being used for online training. In simple words, mobile eLearning is a modern training approach for getting knowledge or training on any subject from anywhere at any time. It is a novel educational strategy especially meant for training corporate professionals through an eLearning mobile app. It has great potential to cater to the skill-development needs of professionals in organizations.

Key Factors to Consider for eLearning App Development

Planning a Strategy for Mobile Training: This comprises of three important parts: Audience, Content, and Platform. While determining the target audience, you can ask yourself questions like- Is our workforce tech-savvy and will use the mobile eLearning facility? Will our workforce be remotely accessing the training? This will help you understand the needs of the target audience. Secondly, for content considerations, you will need to decide on your objective and purpose behind creating the content and how do you want to measure the effectiveness of the content. Last but not the least, for platform considerations you should research what kind of devices will be widely accessed by your target audience. Will they use their personal devices? Or will they use workplace assets?

Designing Courses: Creating content and designing the courses is the next significant consideration. Initially, you may want to upload just a few courses. For this, there are some authoring tools that make it easier to create content for the mobile. For instance, iWebkit, jQT, etc can be used for a web app, and Phonegap, Articulate Storyline, etc can be used for Native apps.

Deployment of the Courses: This is a straightforward step. In the case of a web app, you can publish it on the website and send the URL to your trainees. In the case of a native app, you can submit it to the app store. If you want to track the scores, completion of work, and do the analysis, you may deploy the app using an LMS like Moodle, Blackboard, etc.

Indispensable Features of an eLearning App

Mobile eLearning solutions have made the learning process much easier and effective unlike the traditional chalk and board training method. However, an eLearning app can be a failure without the right features embedded in it. Here is the list of top features of an outstanding eLearning app.

Basic Features like Chatting, Push Notifications, Appointment Scheduling, Calendar, and Social Media Integration, Flexible Payment Options, etc.
Easy Login Facility, a Dashboard, a Robust Database of knowledgeable information and Tools for Data Analytics
Valuable and Comprehensive Content
On-the-go interactive Training to keep the users more engaged
Short Bit-sized Modules for Higher Receptivity and Focussed Learning
Live Tutorials and Audio/Video Streaming
Supporting Offline Content
Using Media Formats like pictures and videos, Story-based Learning, Gamification, etc. for Better Understanding
Tests, Quizzes, Feedback, etc. for Progress Evaluation
Tracking Status of Courses, Number of Courses Undertaken, Time Spent on them, etc.
Potential benefits of eLearning Solutions

Saving Time and Money

In this ever-evolving digital era, modern learners look for ways to save time and money. The eLearning solutions have served this purpose well. The learners do not need to go and attend the classes at any specific location. Instead, they can save substantially on travel costs and also learn conveniently from any location. It helps the companies to reduce the costs on trainings as the recorded video trainings can be accessed by the employees very easily thereby eliminating the process of direct training to the employees.

Employee Engagement and Skill Development

In several industries like software, manufacturing, and even healthcare, mobile learning has been acknowledged as an efficient tool for engaging employees, developing their skill sets and thus, driving their performance. This learning approach thus leads to higher productivity for organizations.

Higher Retention ratio

New-age mobile eLearning solutions provide information in short interactive chunks in the form of audios, video tutorials, or podcasts. It makes the learning process much engaging and faster. These apps also have tests, quizzes, etc. for keeping the learners self-motivated and help them track their progress. As a result, the learners enjoy the app and also recommend it to others, thereby increasing the retention rate.

Personalization for Versatile Learners

Every learner has unique goals and preferences. The eLearning apps cater to individual needs accordingly as there are a plethora of courses available for skill set and knowledge development. It provides flexibility and convenience to learn whenever they want to. All this makes their learning experience much meaningful.

Collaborative Learning

A digital platform allows the learner and trainers to interact with each other. They can also get in touch with their peers to discuss anything as required. This facilitates collaborative learning or group learning and gives them a sense of cooperation and fulfillment.

Easy Scalability

Once developed, an eLearning app can be used by numerous professionals simultaneously. It can be used for designing new courses and uploading them. The organization may introduce new training, courses, etc. in the future. Thus, it is a one-time investment for an organization that wants to develop the skills of their professionals and thus boosts productivity.

Concluding Note:

A few years back, no one could even imagine that imparting education will go beyond the physical confines of a classroom, yet be so effective. The mobile eLearning world is a clear representation of this where anyone and everyone can get the desired education on the go of a click. In several corporate entities, these eLearning solutions have already impacted the productivity of the professionals in multiple ways.

We hope that this blog helped you to get an insight into mobile eLearning. With this, we come to an end.