Vehicle finance is perfect for those who don’t have all the money to buy a car in sight and want to have that model they always dreamed of. In this option, you borrow money from the bank, buy the car and pay the institution in monthly installments up to 100% of the debt, the purchased car already comes out in your name at the time of purchase.
But such an installment requires that you take some care and be able to control your personal budget to avoid attracting debt.
Car key in hand! Even without having all the money to buy
That is the main reason for financing a car. Anxious consumers turn to a bank or lender and borrow up to 100% of the value of the car, in some cases often giving a small down payment and financing the rest.
Vehicle in your possession, no need to wait
Unlike the consortium, where the consumer needs to expect to have the name drawn, in a loan you can get the car key once the money is released to the store where the vehicle is being purchased.
Debt to bank and not to agencies or dealers
The debt acquired is solely and exclusively with the bank. The dealership or agency where the amount was purchased gets the bank’s value in full, so you should be accountable only to the bank, paying the installments on time, which is much easier than owing to car agencies, which are less safe and less reliable.
The larger the down payment, the lower the interest
If you have more money than the amount requested by the incoming bank, you can negotiate with the institution and lower the installment and interest rate amounts, getting financing that fits your budget even better.
It is possible to advance the payment of installments
Got some extra work money? Have you been working overtime at work? Did you receive any unexpected amounts legally? Or even managed to get rid of some bills and now more money is left, in financing it is possible to advance the payment of installments which can make you get rid of debts even earlier and have a car 100% in less time, which increases the possibility of the vehicle not having devalued much in the FIPE table.
The bank will perform a credit analysis to release the loan to you, so if you have a negative name, first try to clear your name in the square so you can get your car financing.
However much the bank releases with its name negated, the installments and interest will be much higher due to the lack of collateral.