Uber Partners With Car Finance Companies

Uber Partners With Car Finance Companies

Do you know of someone who needs a job, but even if he had a job, he doesn’t have a car to get to work? He can’t get a job because he doesn’t have a car, and he can’t get a car because he doesn’t have a job. This appears to be an impossible situation, but one company has come up with a possible solution.

There is a Solution:

I am not saying this is a perfect solution for everyone in the above situation, but it has the potential to help many. Uber, the leader in safe, inexpensive, and convenient personal transportation, has developed a lease program called Xchange Leasing. The purpose of the leasing program is to get more Uber drivers on the road. The person mentioned above can get a job driving for Uber and lease a car from them to drive. Of course, they will be subject to a background check and must have a good driving record. With Uber the driver sets his own hours, so with a vehicle at his disposal, the above person is free to find an additional job and drive for Uber in his free hours.

Advantages for Consumer:

  1. Drivers with no credit history or derogatory credit history may qualify.
  2. Payments are taken from your weekly earnings.
  3. The car may be used for personal driving as well as driving for Uber.

Disadvantages for Consumer:

  1. Interest rates are going to be high because of the increased risk of making loans to consumers with unstable credit. The rate may be comparable with those offered by online car title loans.
  2. If you are unable to drive for Uber because of illness or other reasons, you are still responsible for the payments.

How The Lease Works:

  • Drivers put down a $250 deposit.
  • The driver makes weekly payments to Uber for 36 months.
  • Payments are automatically deducted from the drivers’ Uber pay.
  • The lease covers unlimited mileage and routine maintenance.
  • At the maturity of the lease, Uber keeps the initial deposit, and the driver is released from the lease.
  • If the driver chooses to purchase the car, he must pay the balance due.
  • After the first 30 days, the driver can choose to return the car at any time with two weeks notice, payment of all weekly charges while they had the car and forfeiture of the initial $250 deposit.
  • Returning the vehicle prior to maturity of the lease will not impact the credit score.

For some people, this could be the perfect answer to their employment/vehicle problem. For others, it may not be. To read some real-life experiences with this program, go to Bloomberg.com.

If a person has a decent credit score, he will surely be able to get a better lease from a traditional vehicle lease company. This is not intended for that person, but if a person is stuck in a no job/no vehicle situation, this could be a win-win for them.

Wall Street seems secure enough about the Xchange Leasing program that in a deal headed by Goldman Sachs, they have secured a $1 billion loan to underwrite the program. Wall Street backs Xchange.

How Accurate Are Online Loan Estimates?

mortgage

When looking for a loan you want to know a rough calculation of how much it is going to be. Everyone looks to the internet for answers. Before getting a loan you want to know how much it will cost you. Whether is a title loan estimate or student loan estimate, you want to know what your looking at. Truth be told about online loan estimates is that they are just estimates. It doesn’t include how much of loan you are approved for. They are setup to show you what you could potentially being looking at in terms of your loan. It is not an exact amount. Don’t count on an amount if you don’t even know how much of a loan you will receive.

 

Mortgage loan estimators are a good tool to use to see at what different rates could be. Loan estimators do not take into account whether interests rates will stay the same or change. By law the estimates do have to be accurate to a certain extent. Certain fees that may be or may not be know do not have to be counted with the estimate. Which you be a difference of about ten percent.

 

Also not all estimate calculators are created equal. You really have to be careful. Some estimates can be completely off if you are not careful. Calculators don’t always take into account if you are living in another state. Different states have different rates. Some are higher and some are lower. There should be somewhere on the estimator where you can pick the state you are in.

 

For instances if you are looking at a Mortgages estimator you want to make sure it includes taxes, insurance, HOA, PMI, and fees. That way nothing is getting missed. Many reputable websites will even give you directions on how to use the calculator and explanations. Zillow.com is one of the reputable websites that are used.

 

You need to find loan calculator that is going to factor in all aspects of the loan. Not just parts of it. Many problems with online loan estimates is that there could be fees attached to the loan you or your lender might not be aware of. So if you do not want any surprises use a reputable online loan source that factors in all information not just some of it.

 

As a borrower you want to feel safe and secure where you get a estimate from. Don’t just go to any website. No matter what kind of loan it is. More information the better calculation of the estimate. You want to use an accurate estimator so you know what you can borrow and be able to affordably pay off.If it is incorrect and you borrow the wrong amount you could be in financial trouble. Most lenders will sit down with you and calculate what you can afford. Not all will so just ask if you want their advice, it just depends on the kind of loan it is. Just because it is on the internet doesn’t mean it’s accurate.  

Huckabee Favors Campaign Finance Reforms

ST. PAUL, MN - SEPTEMBER 03:  Former Arkansas Gov. Mike Huckabee walks off the stage during day three of the Republican National Convention (RNC) at the Xcel Energy Center on September 3, 2008 in St. Paul, Minnesota. The GOP will nominate U.S. Sen. John McCain (R-AZ) as the Republican choice for U.S. President on the last day of the convention.  (Photo by Win McNamee/Getty Images)

Mike Huckabee, one of the candidates for US presidential elections 2016, met during a roundtable discussion on campaign finance with the members of Iowa past Tuesday. This is the first time ever where a presidential candidate has approved a meeting with Iowa Pays the Price Group and their underlying initiatives.

 

“We’ve invited other candidates, but we haven’t been able to schedule them,” said Ruth Lapointe, the group’s campaign director . She said that their efforts always responded with the candidates sending them information about their position on campaign finance.

Predicting Iowa caucuses would end very soon, especially given the financial situation, the meeting ended on a rather positive note with things working out in the member’s favor.

 

“Historically, money didn’t buy it – not in ’12 when Rick Santorum won; not in ’08 when I won. Both of us were greatly underfunded compared to our competitors. But we went out there and put in the shoe leather. We made connections with voters and the voters picked, not the donors. If we see that change this year, it’s not Iowa that loses, it’s America that loses,” said Huckabee during his speech to the members of Iowa in the roundtable discussion on campaign finance.

 

Iowa Pays the Price – a non-partisan group supporting transparency in campaign finance  –  urged Huckabee with their initiatives. They believed that holding people who break the rules accountable and putting in an effort to increase voter participation is something that should be implemented vigorously. They have an established website set up online in order to make the communication between them and among their followers easier and more convenient. All types of information are mentioned in detail on the website, including the events that are to take place, the initiatives they have undertaken among other things.

During the meeting, Huckabee was even reported to say that he believed  the candidates should be granted access to unlimited financial donations, not necessarily reporting each and every one of them. He said he didn’t  like the current financial system wherein the Political Action Committee had the liberty to raise a substantial amount of money without disclosing the sources of the donations. He further said the candidates must be given the right to have a say in how the PAC money should be spent.

 

Michael Dale Huckabee, also known as Mike Huckabee, has served as the 44th governor of Arkansas from 1996 to 2007. He had also been a candidate in the 2008 United States Republican presidential primaries. He was a part of the 2008 Iowa Republican caucuses. He started his career with Fox news channel, where he hosted a talk show, named Huckabee.

 

Further, he penned down some of the best selling publications in those times. He has also been a musician, a public speaker, a Baptist minister and a commentator. There is hardly anything that this celebrated person hasn’t done. Although, it is his second run for the U.S. presidency, this time he looks more promising than ever.

 

Are Finance Apps Vulnerable to Security Risks?

finance apps

In the age of the smart phone, apps are commonly used to make life easier. Many of these apps require personal information, especially mobile health and finance apps. Arxan, a security company, actually analyzed 126 of the most popular apps available to consumers. The findings were shocking because 90% of them were vulnerable to major security risks. What makes this so scary is that a majority of the people who are downloading and using these apps on a daily basis are unaware of how unsafe and potentially dangerous using these apps can be.

 

A look at the annual report

This data was taken from Arxan’s fifth annual State of Application Security Report. What a user perceived and the actuality of the security of using some apps weren’t the same. John Pironti, who is a security expert, said that he wasn’t really surprised by results, because these same behaviors were seen in the 1990’s when websites and the internet became popular. Users have an expectation that those producing these types of apps have the technology and innovation to make the apps properly secured, which isn’t necessarily the case. For the survey, 1,083 individuals from the U.S., UK, Germany, and Japan were asked questions about app security. 268 of the respondents were IT executives, while the remaining individuals were consumers of the 126 specific apps. 87 percent of the executives and 83 percent of consumers said they felt their mobile apps were adequately secure. 82 percent of executives and 57 percent of consumers believe everything was being done by these apps to protect them from security issues. Just 46 percent of executives and 48 percent of consumers said yes  when asked if they believe their app could be hacked in the next 6 months.

 

Results and actual mobile risks

Of the 126 apps tested, 90% were vulnerable to at least two of the top ten mobile risks outlined by the OWASP Security Project. These ten risks include weak server side controls, insecure data storage, insufficient transport layer protection, unintended data leakage, poor authorization & authentication, broken cryptography, client side injection, security decisions via untrusted inputs, improper session handling, and lack of binary protections. Health apps that were actually approved by the FDA saw an 84 percent vulnerability rate, with having at least two of these risks, while 80 percent approved by the NHS were also vulnerable. A shocking 98 percent of the apps offered no binary code protection, which means the app could be reverse-engineered and 84 percent had poor transport layer protection.

 

How to make the apps more security friendly

Now that the data has been made available, what can be done to improve security measures for these apps? 80 percent of people said that they would change to a different app if they were using one with a known vulnerability. Unfortunately popular company IBM has looked at research that shows half of all companies have no money in their budget for mobile app security. One way executives and users might be able to get apps to provide better security is to pay the extra money for it. Is the money worth the convenience that the app provides, probably because of security problems. There are still going to be those users who believe a security attack couldn’t possibly happen to them. We will have to see what the future holds for better mobile app security.

 

Finance’s Diversity Problem Got Worse After the Financial Crisis

Finance’s Diversity Problem Got Worse After the Financial Crisis

The finance industry has long been under scrutiny when it comes to how it treats minorities in the industry, especially in terms of the hiring and promotion of minorities, especially African Americans. However, recent reports that black representation in the Chicago finance industry had fallen more than 20% in six years has drawn new attention to this serious problem.

The really unfortunate thing about all of this is that the issue really isn’t showing any signs of getting better. In fact, The Financial Services Pipeline Initiative recently released research showing that, by all accounts, the problem will likely get worse in the future.

And while it’s the recent findings from Chicago that have drawn increased attention to this issue, Chicago isn’t the only guilty city. However, it is one that has many commodities markets and thus many more opportunities to hire and promote financial workers, making the discrepancy between how minority workers and non-minority workers are treated all the more obvious.

The Financial Services Pipeline Initiative touched on this issue in its highly in-depth report. It also made clear the fact that the financial industry is guilty of hiring minorities predominantly for lower-level positions and then not promoting them. This means that minorities “fortunate” enough to be hired in the first place by this discriminatory industry were more prone to layoffs, attrition, and other unfortunate treatment.

As mentioned, while all minorities and their treatment were examined and observed during the research process, African Americans were found to fare worse than other minorities. In fact, the number of Hispanic persons working in the industry increased over the years studied, though members of the Hispanic population still tended to be hired for lower-level positions and less likely to be promoted than their non-minority counterparts.

The recession that the nation went through during the years examined only made matters worse. Because so many minorities had been hired to low-level positions, they were the ones who were most likely to be let go when the recession hit, and, as a result, far more minorities ended up losing their jobs during this troubled period than did non-minorities.

As if that information wasn’t disturbing enough, the report also pointed out several other unfair trends. It found, for example, that among the few minorities who did get promoted, they were much less likely to stay in their higher-level positions than non-minorities. They also expressed more concern and disbelief over their respective companies’ commitment to diversity

The report does more than just bear bad news, though. It also provides several helpful recommendations that, if put into practice, could really change the way things are done for the better. Some of the recommendations put forth in the report included:

  • Hiring from within for higher level positions
  • Offering more support to minority workers
  • Increasing hiring overall

The organization is hopeful but realistic. It understands that the only way for change to truly happen is for financial industry executives and employers to actually heed this advice. That, the organization explains, is the only way to put an end to this injustice.