Car finance for students

Many factors have to be considered before getting yourself a car if you are still a student. Youngsters who are still at school may want a new car for personal use but they may have a lot of difficulties in getting their loan approved. In order to avoid yourself stressed out, it is better to have all the necessary information before applying for your car finance loan.

The first factor to be considered is your credit history. If you have a good credit history and it is registered at your current address, then you are in the right position for your request to be approved. Students with a bad credit history do not really stand a chance of their loan being approved because lenders actually want to be sure that you can pay them back. But this can be tricky as well because not all banks offer this kind of option, so you need to find out which banks actually offer student car loan.

Most commonly students who opt for a used vehicle are more prone to get approval for their student’s loan, so you need to decide whether a used car will be fine by you or if you really need a new car. This does not mean that you cannot buy a new car, but if you really need one and you cannot afford your approval to be rejected, then most probably the best way for you is to get yourself a used car.

For your car finance loan you need to be having at least a part time job, and earning over £600 per month and having proof of your statement. For those who do not have a proper job or do not earn the amount required, basically the best option is to get a guarantor or have the car financed in one of your parents name.

You need to be having at least a 10 percent’ deposit and a full UK driving licence, and you are ready to go. But before taking such a decision, you should consider how much you are ready to spend on your car. Apart from paying back the loan, you will also need capital for your car insurance, fuel and car maintenance.

Cost of staple foods to rise

British consumers are set to lose even more money as the cost of staple foods such as bread and pasta are set to rise. Meat is also set to increase as animal feed has become even more expensive. Bread and pasta are going up to due to drought in the US and the bad summer in the UK has delayed harvests in the UK.

Many vegetables that are harvested in the UK such as potatoes and peas are being sourced from Israel, and South Africa. The rise in food will impact many families as they are already struggling to feed their families as it is, some parents are even having to skip meals in order for their children to be fed. To add to further woes winter is just around the corner and energy suppliers have already hinted at price rises.

Unfortunately there isn’t much we can do as all supermarkets and suppliers will also be hit with the price increase. Some people have suggested buying frozen vegetables instead of fresh to save money but it has been noted that frozen isn’t always cheaper. Consumers have been writing to MP’s to raise their concerns of inflation and how it is affecting their lives but so far no one has responded, the government are also helpless as food being imported will obviously have cost issues.

One way people have thought of to bring costs down is to sell the ‘ugly’ fruit and veg that often get rejected from being sold at supermarkets because they aren’t nice enough. Because some vegetables grow misshapen they aren’t aesthetically pleasing so they get rejected from being sold to the public, by being allowed to be bought people who often stay away from fresh vegetables because they are too expensive will benefit. It could mean that some food prices can continue to stay low and affordable because there isn’t any competition.

 

Housing benefit and LHA

Fortunately in this country you can never be homeless, if you ask for help you will surely get it. Councils all over the UK have been housing people for decades at the cost of the tax payer. Unfortunately the days where it was for hard up people are gone, as too many people have abused the system local housing from your council is on a long waiting list, you could be waiting years for a place to live. Don’t worry if you really need help there are other ways.

Did you know you can claim LHA a local housing allowance now instead of council housing or both even. As council housing has a severe shortage of housing applicants are being advised to apply for LHA instead. It means you can find a house or flat that you like in an area that you like and if you are a low earner or on certain benefits you will also qualify. You can get help with a deposit for the flat and grants to buy things like furniture and decorating the home. You can also be placed on the council’s waiting list for council housing in the meantime but if you qualify for LHA and your circumstances never change then it could be paid for indefinitely.

All councils have different limits you can apply for to pay for your rent, you also need to check how many rooms you are entitled to as well. If you are single and under 35 you may only qualify for the flat share amount, in this case you may need to pay the difference if you want a one bedroom flat instead of a house share. If you are a couple some councils allow you to rent a one bedroom property, if you are a single mum then children can also qualify for a room of their own.

LHA is changing so you need to check with your local council and keep and eye on things. If you are entitled to LHA or housing benefit you may also qualify for council tax benefit too, some or all of it may be paid in full. With many young people on low incomes or unemployed it is easy to lose independence so by claiming LHA they can live independently and out of their parents hair!