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Learn three ways to make money with your car

Many times we have at our disposal a car that we do not even use, either because our work is relatively close to our home or because our partner or friends transport us in their vehicles.

Be that as it may, despite all the credit facilities that exist today, a car remains a privilege that not everyone has and that many want, so taking advantage of it is a wise idea.

On the other hand, there is the possibility that you have in mind the acquisition of a vehicle, but high market prices prevent it from being carried out, well, for this there is the option to put your car to work as the fees are being paid . This translates as “collaborative economy.”

Did you ever imagine that having a car could make you earn money?

Maybe they think it’s possible being a taxi or private transportation. While these ideas are valid, they are not the only alternatives for your car to produce.

Here we share some of the most effective ideas, especially if you work on something else and do not use your vehicle so often. LEASE YOUR CAR. In a very feasible business today. Thousands of people do it and in fact, a considerable part of the population prefers to do so before buying a car.

There are several platforms that allow you to rent your car

car loan with money cash

You set the daily price of your vehicle and, in turn, take care of the delivery and collection of it. Thus, everything is under your supervision and consent, and it also allows you to know directly the person who is driving your car during that time. You could even get a fixed customer who leases your car on a monthly basis.

“It is a safe way to produce money with your vehicle, in addition most of these platforms take care of practically everything such as hiring car insurance and other important maintenance of the vehicle,”. Some recommendations to make money with your car:

Place ads in your car

car loan with money cash

Transforming your vehicle into a billboard may sound like nonsense, but there are people and companies that pay good money for that, you just have to contact the right people. Although it is a bit flashy and extravagant, take it as a smart investment to consider for a while.

To get good customers influence factors such as: vehicle size, daily travel, hours in which it is in circulation and duration of the campaign.

Become a carrier. You may require a little more time and availability, however, it can also be done during free time (depending on how you organize). For this there are applications such as or , with which you can place orders from other people.

There is also the option of custom transport. You can take people from your home to work and vice versa. You can do this without interrupting your workdays, you just have to find people who match the schedule and location.

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Secure home loans are on the rise

The housing loan market continues to expand rapidly: by the end of September, banks had signed nearly $ 642 billion mortgage loans, a 36 percent increase. There has been a spectacular expansion in mortgage loans with fixed repayments for 5 to 10 years: nearly $ 200 billion more than last year.

Meanwhile, demand for the most volatile variable-rate home loans fell significantly, by 36 percent. Competition between banks is strong and differences between home loans are significant, with up to HUF 5 million difference in the total repayment of the safest schemes.

The home mortgage market is developing favorably

The home mortgage market is developing favorably

In terms of lending and secured loans, according to GoodTestament Bank’s latest analysis, which summarizes the current situation of the home mortgage market based on official central bank data and its own statistics.

In the first nine months of the year, banks operating in the Hungarian market concluded nearly HUF 642 billion in home mortgage contracts, an increase of 36 per cent year- on- year. According to Ezrah Trentos, an expert at GoodTestament Bank , the September data suggest that the expansion is permanent and significant . “Intensive housing price increases over the last 4 years and rising wages have all contributed to an increase in borrowing.” the specialist added.

Doubling in safe terrain

Doubling in safe terrain

The amount of legrizikósabb, known as floating rate housing loans amounted to 121.5 billion forints in the first nine months of the year, which represents a 36 percent drop. At the same time, the amount of home loans guaranteeing a fixed installment for 5 to 10 years more than doubled to nearly HUF 200 billion, while fixed repayment plans for more than 10 years increased by 36 percent to HUF 41.5 billion in nine months. “It is obvious from the data that an increasing number of home loan borrowers do not ask the most sensitive to interest rate changes, making risky variable-rate constructs. Increasingly prefer a predictable, guaranteeing a fixed multi-year amortization, including appropriate classification system of the central bank’s consumer-friendly home loans” Ezrah Trentos said.

Up to 5 million difference

Up to 5 million difference

According to GoodTestament Bank , there is increasing competition in the market for fixed-term mortgages, but there are still significant differences between bank offers . At the beginning of November, the most favorable of the 10 million forints, 20-year mortgages and fixed-term mortgages are monthly payments of 66-69 thousand forints, while the most expensive ones can cost 80-88 thousand forints per month. As a result, there may be a discrepancy of up to $ 5 million in the total repayment amount . Therefore, it is definitely worthwhile to consult with credit intermediaries before borrowing , as they have an up-to-date knowledge of the entire market and can help stakeholders to make significant savings .