It is more difficult to realize the dream of the new car, because banks and financial operators from throughout Brazil are offering financing for different customer profiles. To give you an idea, only in the first half of 2013, compared to the same period of the previous year, there was a significant increase of 23% in the number of vehicles financed.
With the growth of supply and demand, the chances of not evaluating the pros and cons of this type of acquisition increase, on impulse buying and in the end, not being able to afford the plots. To prevent this from happening, Good lender has prepared some tips for you that you want to make a conscious and, above all, advantageous financing.
The financing of new and used cars can be done by private or public institutions. It is a type of financial transaction that consists of the financier (bank or operator) to provide resources for a person (physical or legal) to acquire a good.
In the case of auto financing, the methodology used may be Leasing or CDC. The CDC is Direct Consumer Credit and today it is the most popular system among Brazilians, corresponding to 77.8% of financing in the last year. Leasing has the remaining 22.2%, but also has many advantages.
Economists recommend that the buyer does not commit more than 30% of their income to this type of purchase. On average, the Brazilian spends 60% of what he earns with food, education, electricity, transportation, telephone, health and personal hygiene. In addition to these fixed expenses, it is necessary to reserve 10% of the rent for emergency expenses. Thus, 30% is what remains for financed purchases and interest should be embedded in that account. Understood?
To be honest, banks are very similar in terms of financing. Both the conditions of installments and interest rates are quite similar. According to the Central Bank, the monthly interest rates of the main Brazilian banks vary between 1.32% and 1.62%. Very small difference, no? At the top of the list is Caixa Econômica (1.32%), followed by Itaú (1.38%), Banco do Brasil S / A (1.40%), HSBC (1.42%), Santander 55%). In the annual comparison, rates range from 17.2% to 21.33%.
All financing has advantages and disadvantages, so the best option before choosing a financial institution is to actually research and evaluate all the conditions. Compare not only the fees, but also the facilities offered and the requirements made by each bank. Cogite also the possibility of financing through the financial operators of the concessionaires themselves, since the rates are usually well differentiated. There is only one detail: the entrance required is always greater than the seats.
Regardless of your choice, always read all the clauses of the agreement, take into account the depreciation of the car and pay attention to all the extra expenses. In addition, keep an eye on our tips and be very successful in your financing! Come back to tell us if everything went well.
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