First Time Car Buying: A Useful Guide for an Easy Car Shopping Experience

The world in the COVID-19 era has taught us to be self-dependent. The ownership of a car in 2021 means safety, convenience, and independence. Car buying is one of the biggest steps while re-entering into the world post Novel Coronavirus. And, buying a car for the first time may seem exciting and overwhelming at the same time. You need to choose the make and model and deal with auto financing as well. However, with the right buying guide, finding the right first car becomes fun and easy.

Do not worry about buying an automobile on your own. The following points will help you make wise decisions. Keep them in mind when you decide to buy your first car.

1. Establish the Budget

Understand your financial situation before researching a car. Ask yourself questions such as: Do you have enough income to make regular payments? Can you pay an upfront amount as a down payment? What is the amount of auto loan that you need? Factor in your income, expenses, and savings. And, understand if you can use the remainder towards payments. You can take the help of online auto loan calculators that will help you to establish your budget. Therefore, make a wise decision and do not overspend on a car.

2. Work on Your Credit Score

The credit score is the primary factor that decides the type of auto loan that you receive. Start by obtaining your credit report and make sure it is accurate. Many first-time car buyers may be new to the world of credit and may not have received a chance to establish their credit score. For first-time car buyers with zero credit history or no credit score, make sure to get a co-signer. A co-signer with a stellar credit score improves your chances of qualifying for the auto loan.

3. Opt for A Used Car

A new car is usually more expensive and attracts a high-interest rate as compared to a used car. If you are a student wishing to commute to your college, you can opt for a used car. Automobiles that are less than five years old have similar features as new cars but are available at a lower cost than new cars. Opt for certified pre-owned cars. You may even get a pre-approved auto loan when you consider purchasing a used car. Choose vehicles that contain warranties and stay away from lemons.

A first car is the most memorable purchase for any individual. Make sure you choose the right vehicle because it will be with you for a long time. You will experience several new things together including road trips and commuting to your first job. So, do not forget to negotiate your way into obtaining the right deal when you purchase your car for the first time.

Co working office space the new trend in India

Real Estate Business in India is changing fast. Both as a business and also as a market for innovation in the product range.

With the coming of the foreign investments in India the demand for office space has seen phenomenal growth. The leasing of space by co working operators in India has seen a continuous upward trend since 2018. The reasons for this trend are many folds.

Rising prices of real estate

The main reason for this trend has been the rising prices in the real estate in urban India. Land is getting scarce and the building trend has changed to building vertically instead of horizontally. More and more firms are choosing to expand vertically in high rise buildings instead of horizontally. The prices of land are going up every year as the pressure of the population and the expanding economy on land resources is increasing. Corporate houses are now realizing the need to save on fixed assets in the form of land and buildings and concentrate more on using their funds on marketing and human resource management. The innovation in technology has made it possible for businesses to work from limited spaces with limited human resources. Work which was previously labor intensive has become more technology dependent.

What so co working spaces offer

The co working spaces are offering a number of facilities which are attracting more and more corporates to go in for these spaces:

A common Reception desk for the whole building or office complex means that you save on a function in the business which would normally cost you money in the form of a setting up front office with a staff to take care of it. A receptionist with furniture and office equipment which normally can be better utilized in productive purposes.

Common conference facilities and conference rooms. Normally a conference room is used very seldom in case of an important meeting. That means that the space is lying vacant most of the time. Common conference facility means you pay for the space only if you need it not for it laying vacant.

Common pantry. A common pantry or a coffee shop saves money on the need to buy all the consumables which normally become a source of wastage and misuse in the office. It has been noticed that the cost of common Pantry reduces the cost for the tea and entertainment expenses in an office by at least 30 to 50 percent.

Maintenance costs. Another major saving in the costs for a shared co working space are the maintenance costs of co working space compared to self-owned space. It is a known fact that the maintenance costs for self-owned space are at least double of what the costs of shared space are.

Effects of Covid 19

The current pandemic has further strengthened this trend as the pandemic has forced the corporates to promote the work from home culture and in India at least it has been proven that working from home is possible and can successfully be undertaken. This has cut down on the need for large offices and has forced many offices to work from limited spaces and this new trend is likely to continue for a long time in the future.

There has now been a surge already in most of the metro cities of construction of and creation of more co working business spaces. Delhi, Bengaluru, Mumbai are three cities with large corporate populations and these are definitely on the forefront of this revolution.

Difference Between Mortgage Loan And Reverse Mortgage Loan

Mortgage means to place collateral. Therefore, mortgage loan in home loan industry is the loan taken against the property pledged as collateral. The mortgage loan is beneficial in comparison to other instant loans such as personal loan and business loan because of its rate of interest, processing fees, foreclosure charges & closure conditions, etc. Also referred to as Loan Against Property, a mortgage loan is taken to meet the personal fund requirements such as children education, child marriage, medical treatment, business expansion, etc. The mortgage loan by lender Bank/NBFC/HFC is provided only to those borrowers who has a regular flow of legal income and is within the maximum retirement age 60 years. As a result, the senior citizens were excluded from taking the mortgage loan. Hence with the view of extending the benefits of mortgage loan to the elderly the Union Government of India introduced the concept of Reverse Mortgage allowing them to borrow the funds through property mortgage, to meet their financials requirements of day-to-day expenses and increasing cost of medical treatments.

Difference between Mortgage Loan & Reverse Mortgage Loan

Sr. No.

Mortgage Loan

Reverse Mortgage Loan



A mortgage is a type of secured loan as it is secured against the collateral provided. The collateral means pledging of property to obtain the loan.

Loan for senior citizen above 60 years to avail regular/periodical payments from Banks/ NBFC against the mortgage of their house while still retaining the ownership of the house and occupying the same.


Who Can Apply

Salaried and self employed individuals.

Retired, senior citizens above 60 years.



Can be used for children education, child marriage, business expansion.

Can be used only meeting the livelihood expenses and medical expenses.

Can be used for purchasing another property.

Cannot be used for any investment or purchasing property.


Property Type

Ownership residential as well as commercial property can be mortgaged.

Only ownership residential property can be mortgaged.

No commercial property is allowed.


Property Ownership

Ownership transferred on ancestral property as well as property with gift deeds can be considered.

Ancestral property is not considered. Senior citizen must possess a self acquired and self owned or jointly owned property with the spouse.


Residential Life Of The Property

5 years – 50 years. Above 50 years structural audit report is mandatory.

Should not be less than 20 years.



All banks and NBFCs.

Only selective nationalized banks and few private banks.


Age Limit

Salaried – up-to 60 years

Self-employed – up-to 65 years

Senior citizen above age of 60 years.



Must have regular monthly income flow.

Does not require any Income.



CIBIL score of minimum 750 and above is required.

Does not require any credit score requirement.


Loan Tenure

Maximum 15 years.

Minimum 10 years till lifetime of the borrower’s age.


Loan Disbursement

Full Disbursement of loan amount. No partial Disbursement.

The loan can be provided through monthly, quarterly, half yearly or annual disbursements or as a lump-sum or as a committed line of credit or as a combination of the three.


Loan Limit

No capping on the loan amount.

Maximum loan limit has been capped to 50 Lakhs – 1 Crore.


Processing Fees

0.40% – 1.5% of the loan amount.

0.50% of the loan amount.



Interest is charged on the total principal and is paid up-front with the principal in equated monthly instalments.

Interest is charged only on the principal amount taken and the interest is rolled to the principal amount, which is payable on loan closure.

Is It Time To Hire A Tech Consultant?

When your business expands, you will need to make sure that your technology and computers are modern and up-to-date, in order to meet the demands of your customers. In fact you may also need to employ more staff to deal with the increase in your workload, as well as seeking out newer methods of communication. One decision you are going to have to make is to whether to hire a full-time IT consultant, or to hire one from outside whenever the need arises.

In-house versus out sourcing

If you are confused about whether to hire a full-time tech consultant or to rely on calling one up whenever you have a problem then there are a number of things that you will need to think about.

Firstly, you will need to look into the amount of technology you have and rely upon, if your business means that you have to give countless presentations and video conferences then you may want to hire a full-time tech support employee to handle any problems that may occur. However, this is dependent on the size of your business, and if your business is too small, then you may find that the costs of hiring a full-time tech consultant may be prohibitive, and sticking with outsourcing to a private IT consultant is the way to go.

Consider the financial implications

Secondly, you are going to have to figure out the financial complications that can come with adding another full-time wage to the company payroll, especially for such a specialized position. If you decide to outsource your IT then you do not have to concern yourself with health insurance and pensions for an extra employer, that way, you just end up paying for services rendered, for whenever a problem arises.

Do your background checks

Lastly, when the time comes to hire an IT consultant, you need to make sure that you have done some background checks into their proficiency and previous work experience. That way you can decide on which company is the right one for you. Make sure that you do not just settle on the first IT consultancy company that you find, spend some time looking at three or four different companies and ask them to provide references and examples of their previous works.

As technology advances, you are going to need to be sure that the technology you have is up to the job of helping your business to provide the right service and products that the public want.

Hope you find my article helpful! If you’re located in the Los Angeles area and need IT support or computer consulting services, I urge you to contact my good friends at ITwithIQ today! They also offer PC and Mac repair services.