Overseas Auto Transportation Can Be Made Easy

Moving overseas is certainly quite a bit more complicated than moving to another city. Unless you are going to sell your car and buy a new one at your destination, you are going to have to employ a car shipping service. Many people are unsure if it is worthwhile to have their car transported when staying overseas for a while.

Understandably, it looks like a complicated process. However, with the help of a full service auto transport service, the process is fairly simple and stress-free. If you've never shipped a car overseas before, this article will provide an overview about your car's upcoming journey.

Types of Overseas Transports

The first leg of your car's journey is the trip from your home to the port. If the port is close you can drive it yourself. If it is farther away, you will probably have the auto transport company that part of the journey as well.

Once your car arrives at the dock it will be shipped one of three ways: RORO (Roll On Roll Off), in a 20-foot container, or in a 40-foot container.

Roll On Roll Off is commonly used for short trips. For example, it is the most common way that cars are shipped to Hawaii or Puerto Rico. The ship is basically a large car ferry. Your vehicle is driven aboard and parked along with many other vehicles. Upon arrival, it is driven out onto the dock. RORO service is usually cheaper than container shipping. However it is also less safe and your vehicle is more likely to be damaged. This shipping method covers the car itself. There is no provision for shipping any personal belongings.

A 20-foot shipping container is a safer method of auto transport. The car is loaded into a standard shipping container, so so it does not move during the trip, then the container is brought aboard the ship. Most of the time these smaller containers will fit only the car itself. If there is room in the container some shippers will allow you to ship personal belongings as well.

The best solution for shipping both your vehicle and household items is a 40-foot shipping container. The other items are loaded in first then a wooden bulkhead is placed in the container to separate these items from the car. The vehicle is driven into the container and secured as above. This shipping method is safer for both the car and your other belongings but is likely to be the most expensive shipping method.

Other Details of Overseas Auto Transport

Overseas transport is going to be more expensive than typical ground car shipping. Shipping will incur port fees at the destination. If shipping to another country, you will have to pay that country's tariffs. Finally, your insurance will almost certainly not cover your vehicle during the trip. You will need to purchase maritime insurance which generally costs 1% -3% of the price of the vehicle.

International shipping has stricter documentation requirements. You will need the original title to the vehicle and may need other documentation depending on the destination. An experienced international auto transport company will be able to help you with the details so that you can get everything prepared before your move.

How Do Credit Card Companies Make Money?

Credit cards have gained much popularity in India over the last few years. Public sector banks as well as private banking institutions have come forward to launch a host of credit cards suiting customers with different types of needs. HDFC Credit Cards and SBI Card are the two companies with the largest market share. While banks are ready to offer you with a small loan in the form of credit cards, have you ever wondered how these banking institutions make money from these ventures?

The three main ways how card issuers make money is through the annual fee of the card, interest charged on late payment, penalties on skipping EMIs, etc. At the same time, they also earn from the businesses that accept these cards. Businesses are required to pay transaction fees to the banks which also makes up for significant earning of the card issuer banks.

But before we dig deeper into how they make money, let us first understand the term 'Credit Card Companies'. It is easy to get confused between credit card issuers and credit card networks. An issuer is the bank or financial institution from which you take the card. You are taking a loan from the card issuer and paying back to them. A credit card issuing company is usually a bank. On the other hand, credit card network refers to companies that process the transaction. Currently, there are three major networks in India- VISA, Master Card and RuPay. Apart from these, American Express and Discover cards can also be found.

So, when you make a transaction with your credit card, your money moves electronically from your bank through the network to the merchant's bank.

How do credit card companies make money?

As mentioned above, your bank makes money majorly from you and also from the merchants where you use the card issued by the bank to make the payment. Banks or financial institutions make money in the form of-

Fees

Banks charge different types of fees from their cardholders- some fees are to be paid by everyone whereas other types of fees are levied on condition. Let us talk about these fees and charges-

  • Annual Fees- You have to pay annual fees towards your credit card, especially when you are an elite cardholder and enjoy higher benefits than normal users. This is to be paid by all users. However, some banks may set a condition of spend based annual fee reversal scheme.
  • Cash Advance Fees- When you withdraw money from an ATM using your credit card, the bank charges a minimal fee for it which is normally correlated to the amount you withdrawal. This is also included in the card issuer's earnings.
  • Late Fees- Your card issuer charges fees from you if you delay your EMI payments. Banks make more money from late payers in the form of late fees.
  • Balance Transfer Fees- When you transfer outstanding balance from one card to another, the bank charges fees from you which again becomes its earnings.

Interest

The bank or financial institution has just gifted you a credit line. You have to pay the interest for the loan that is offered to you in the form of credit card. This interest cost adds to your expenses and is a method of earning for the banks. Interest on credit card is charged on daily basis for as long as the amount stands outstanding in your account. This is why experts always advise you to pay the total outstanding amount in full every month because interest will accrue on any amount that stands unpaid.

Let us understand this with the help of an example. Suppose the billing date is on 4th of every month and payment due date falls on 29th of every month. APR = 24%

  1. 10th March- Apparel Shopping- Rs. 5,000
  2. 13th March- Bill Payment- Rs. 2,000
  3. 19th March- Gadget Purchase (converted into 6 month EMI) – Rs. 12,000
  4. 22nd March- Dining Bill- Rs. 1,000

Now considering that the person does not have any outstanding amount from the previous bill, he will have to pay Rs. (5,000 + 1,000 + 2,000 +2000) = Rs. 10,000.

This will be the total amount due on 29th March. Now if the person chooses to pay only Rs. 6,000, the remaining Rs. 4,000 will accrue interest for each day until the amount is paid in full. Considering that the user again pays Rs. 2,000 on the 10th of April, let us see how interest cost works out-

Interest = (outstanding amount x 2 percent per month x 12 months) * (number of days) 365

In this case, the total interest charged would be Rs. 52.60 which is a total for Rs. 4,000 that lies outstanding for 11 days and Rs. 2,000 that lies outstanding for 18 days until the next payment. This is the reason why those who only pay minimum amount due tend to fall into debt soon sooner. Cardholders should also note that when an amount is outstanding in your statement, the new purchases that you make are not eligible for the interest free period. This is why interest charge is the easiest way how banks make money out of your credit card.

Interchange Fee from the Merchant

When you use your card at a merchant terminal, the merchant also pays a percentage of the amount to the bank as processing fees. This will also be added on to the bank's earnings. It usually ranges between 1 to 3 percent of the transaction value but may differ from merchant to merchant.

How to save yourself from paying too much to the bank?

Savvy customers plan their transactions and payments in a way that they have to pay the least amount to the bank. These are the habits you can adopt to cut your costs-

  • Pay your entire outstanding balance every month; just pay the minimum amount due is not a good practice.
  • Set alerts for your payment due dates to avoid missed payments which entail late fees.
  • Create an emergency fund to replace costlier options like cash advances from credit card.
  • Choose low annual fee or free credit cards and even if you select a card with high annual fee, make sure that the rewards are worth it.

Telecommunication Industry Tricks

How many of you out there are unhappy with your current phone company? Do you feel like you are being ripped off and taken advantage of. Well I'm going to share with you how to get better customer service and better products as well as guard against telecommunication industry tricks I will also share with you some of the common problems with telecommunication industry services today.

Some companies in the telecommunication industry will do anything to get your business as the telecommunication industry is so competitive they even use really dirty tricks to do this, Below are just a couple of the tricks telecommunications industry companies use which you should be aware of.

1. Picking. This is a very sneaky way of getting your business and laws have done a great job of putting an end to it, but it still happens from time to time. 'Picking' is when a communications carrier gets your business by your 'something' unaware authorization. You fill out some form to win a prize or answer a survey and the next thing you know, you've been switched without knowing it and suddenly your outrageous bill is your only indication that something is horribly wrong.

2. Slamming – This is just what it sounds like, you go to bed using one service and wake up using another and you'll never know it until you've gotten that outrageous bill.

A lot of telecommunication companies out there in the telecommunication industry use all kinds of creative ways to get your business, none of which is really based around approaching your business.

The best advice I can give you to avoid these problems is to have a personal telecommunication industry specialist who is assigned to make sure all of your telecommunications needs are being met. The assigned telecommunications specialist will make sure all your services are being provided at not only the best rate, but also with the best in customer service. I'm not talking about hiring someone for this, but finding a company that allows its reps to provide that 'direct link' to the company.

Corporate Event Management

Corporate event management involves managing various corporate events that can be a special media event, an internal event or event open to the public such as a fundraising gala. They are usually managed by a professional planner which specialty is corporate events. An experienced event planner has the expertise to research and plan a successful event from start to finish.

Some of the common examples of corporate events are launching a product, road show, galas and media event with corporate sponsorship. The events are managed according to their relative nature, keeping in mind the aim of the event, the audience to be reached and the content of the message to be transferred.

Launching a new consumer product is a good example of what a planner does to manage this type of corporate event. Launching a product involves consumer conviction as an ultimate goal. The customer has to be persuaded to buy the product by using innovative ideas. A corporate event manager might set up a convention to launch the product. This would involve planning all pre-convention meetings, working with graphic artists, writers and printers for all printed materials, choosing a location for the convention, selecting food and entertainment, etc.

The basic requirement for managing a corporate event is a step-by-step disciplined to see through various tasks from start to finish. There are many corporate event management companies offering professional services. They will work with the company contact one-on-one to make sure all of the needs and wishes of the company are met when putting together an event.