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Know why Auto Loan Debt is increasing

Finding an auto loan has become a piece of cake for American car buyers. It is quite evident from total outstanding auto loan amount for the fourth quarter of 2014. The amount rose to a record-breaking high of $886 billion. According to The Fiscal Times, the average loan amount has increased to $28,381 from $950 a year ago. Also, the percentage of new vehicles purchased with financing in the fourth quarter of 2014 increased by 84 percent when compared to the previous year.

What’s encouraging Americans to apply for Auto Loans?

Americans have returned to the automotive market and they are ready to shell-out money for their passion: The car. Here’s why:

• Expensive Vehicles

According to TrueCar.com, buying a new car or a used car has become very expensive. It costs near $31,000 to buy a brand new vehicle and a massive $16,800 for buying a reliable used car. Such high price rise has forced people to obtain car loans.

• Low Unemployment

According to Bureau of Labor Statistics, unemployment rate dropped to 5.5 percent. Lower unemployment rate has allowed Americans to shed their inhibitions. They are now willing to buy a car of their own instead of sharing it.

• Low Interest Rates

Even though the interest rates are slightly higher than last year, there are relatively low in comparison to previous years. According to the latest survey of Bankrate.com, average loan rate for a 60-month new car loan is 4.31 percent. You can obtain a used car loan for the same term with 2.65 percent in interest.

• Sub-Prime Loan Approval

Sub-prime auto loans are available to car buyers with credit score below 580. There is a large group of car buyers who fall under this category.

In the last quarter of 2014, there was a minor decrease in the share of sub-prime loans. However, the number remains still strong at 20.3 percent. Such a high number indicated the ease of getting a sub-prime loan.

So, these are the reasons for auto loan rise. If you are interested in buying a car, this is the best time to buy it.

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HSR Layout in Bangalore: A Favourite Property Destination Among Buyers

Being a part of the National Highway-7, it is the hub for many manufacturing units, corporate houses as well as IT companies.

HSR Layout is a fairly new area, being developed in 1984 by Bangalore Development Authority. It is 7km from Jayanagar which is another huge residential area and Koramangala is 2km in distance away. Due to its closeness with the commercial regions in the city and suburbs, along with all the convenient facilities such as post office, banks, electricity offices, schools, hospitals and many more, there has been a lot of real estate development in HSR Layout in a short span of time. The close connectivity factor with the other parts of the city and commercial hub has majorly influenced the rise of numerous new property for sale in HSR Layout, Bangalore.

However, as the area is developed with proper planning, so there are facilities for parks and gardens and it is also known for its calm environment which is ideal for resident to relax and lead a healthy life. Like other parts in Bangalore, HSR Layout is separated into seven sectors.

It has been designed on the principles of the modern town plan, comprising of a BDA complex that consist of the administrative offices. In terms of infrastructure also, HSR Layout is properly built with well maintained roads and flood drains. It houses several educational institutions along with offers close proximity to the electronic city, and thus offers easy commuting options for work, education or any other purpose without wasting much time. With all these essential amenities already in place and to encourage residents’ movement in the region, real estate developers have already focused on developing new apartments in HSR Layout in affordable price range suiting everyone’s pocket. Sobha Green Acres in Marathhalli, Prestige North Point in Kammanahalli, Salarouria East Crest in Old Madras Road are some of the well-known housing projects in HSR Layout, Bangalore which offers world-class communities with a host of facilities to the residents.

Mostly entry and middle level workers working with various IT/ITeS companies prefers staying in this or locations around it because of its close proximity with various companies and availability of several reasonably priced housing options for rent as well for purchase. These huge factors have also encouraged lots of investors to invest in this region.

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Canoe Trails on the Chobe River

Try a different approach to game and bird viewing while in Chobe. The river, from which the park takes its name, offers a fascinating grandstand view of life on and off the shores of this beautiful watercourse. From your discreet seats on board a mokoro, you can view animals coming down to drink undisturbed, watch the elephants playing in the water and sneak up on great floating groups of hippos, without causing them annoyance. Your experienced poler, as the oarsmen are called, would have grown up paddling on this river and will ensure that you are always well out of harm’s reach.

The mokoro itself originates from the tropical rainforests and woodlands of this area, and would have been carved from the very trees which overlook your stately passage. Large straight ebony, kigelia or teak trees are selected to fashion the mokoro, based on their strength and durability. Once the selected specimen has been felled, the trunk is hollowed out and smoothed and moulded to make a canoe-like vessel. Due to the depletion of these forests in recent times, you may have to settle for a modern day fibreglass canoe instead of a traditional mokoro, but the wildlife don’t seem to notice the difference and, as long as the craft is silent and maneuverable, the experience is just as enjoyable as when aboard the real thing.

A canoe trail on the Chobe river is an exciting adventure for two and, although it is intimidating to encounter hippos close-up on their own turf, the only real danger is crocodiles. Hippos rarely attack mokoros, as they are used to these unobtrusive craft, and your poler will go out of their way to avoid croc’s, as he is ‘in the same boat’ after all. Any apprehension you experience will be more outweighed by the brilliant birding, unparalleled game viewing and outstanding photographic opportunities to be enjoyed aboard a mokoro on the Chobe River.

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