Vehicle financing is still a headache, especially for those who have never bought a car or a motorcycle. However, we are here to help with reliable information.
Every Brazilian still dreams of having their own vehicle to carry out their personal activities and even for work, which is why they look for vehicle financing that allows for good payment conditions.
In this article, we have selected a series of information that will certainly help you if you still don't know which bank to choose to finance your motorcycle or even your car or even your property, since these offer good solutions for vehicle installments, they will also offer interesting conditions for property financing.
The big question that is probably on your mind is: after all, how can you get financing during the coronavirus crisis? Is it safe, and wouldn't companies be making a profit from supply and demand? We can say that yes, it is not easy, and at the same time: yes, it is possible! Nothing is impossible!
Vehicle financing – best banks for you
Financing with Itaú
We know that one of the biggest advantages of financing a vehicle at Itaú The response to credit applications is much faster than most banks, even for future drivers who do not have an account with the institution. Another important advantage is that after approval, it is possible to view the entire process and issue payment slips using only the internet.
Therefore, taking into account the information provided by the Central Bank, Itaú has the lowest interest rate of retail banks: 1.83% per month and 24.34% per year.
Santander Bank Financing
This is another excellent option on the market! It is known that vehicle financing at Santander has something in common with that of Itaú – fast response. However, it is only available to people who have an account. Even so, the bank is one of the best in Brazil for financing a vehicle.
At Santander, drivers can choose whether to finance the full value of the vehicle, or just a portion and make payments over up to 60 months. The interest rate offered by the institution is 1.92% per month, which in 12 months totals 25.69% per year.
Finally, Federal Savings Bank
Without a doubt, the best bank for these types of transactions. Recognized by all Brazilians as the people's bank, Caixa Econômica Federal offers relatively good financing rates for current and non-current account holders. Currently, the financial institution charges rates of 2.04% per month, which can reach 27.45% per year.
Furthermore, dear Digital reader, as soon as you pay off a vehicle, you will be able to take out new financing with a discount of up to 70% on the value of the new car, taking out a new loan and using your first financed vehicle as collateral.
To run simulations or check documentation from the respective banks above, you must access the official website of the banks mentioned.
Source: Exame Magazine