It's inevitable! There comes a time in your life when you think: “I need to buy a car”. Check out 4 tips for making a good decision vehicle financing.
CDC (Direct Consumer Credit) remains the most widely used option for those looking to purchase a vehicle. According to the Central Bank, Brazilians borrowed R$8.48 billion in credit to buy cars in April 2018.
Financing is a type of installment purchase offered by banks and financial institutions for those who cannot purchase the vehicle outright or prefer to leave the money invested.
Under the Consumer Protection Code, the consumer takes out a loan from a bank to purchase the car. The vehicle remains in the buyer's possession, but cannot be traded, as it is alienated to the bank, until all installments have been paid. Contact can be made directly with the bank, without the dealership's interference.
This way, you can negotiate the interest rates that will be paid. They are fixed at the beginning of the contract and do not change during the payment of the installments.
Increase financing in the form of: Leasing
In this type, the car does not belong to the consumer, but rather to a company that rents the vehicle. The rental fee is the installment for the car, after the end of the term. benefits, the vehicle passes into the consumer's name.
This allows direct negotiation regarding interest rates, which are fixed at the beginning of the contract and do not change throughout the payment period.
See the facilities that the consortium has
A consortium is an option for those who are not in a hurry. The customer pays the installments and only buys the car when they are selected. In this situation, unlike CDC and leasing, the installments change throughout the payment, according to the variation in the price of the car that will be purchased.
It is necessary to keep in mind what your payment power is. plot. So, from there, you have to do a lot of research: look for prices and conditions in both stores and banks, and don't close the deal at the first place.
It is necessary to pay attention to the CET
Experts say that consumers should pay attention to the Total Effective Cost (CET) of the financing, which shows the fees included, in addition to interest, Tax on Financial Transactions (IOF), registration fee and insurance.
The survey carried out by the Proteste Consumer Association found significant variations for the same car model.
Use tools available on the internet that can help you compare financing options and research the APR thoroughly. The lower the APR, the more affordable the amount you will pay for the car.
Car financing, on the down payment.
Know that when choosing a financing, make a good reservation capable of guaranteeing the largest possible down payment. The higher the amount, the better the chances of negotiating discounts and installment facilities.
By assuming a financing, analyze all the expenses with the new acquisition. This is because there are other costs involved in maintaining a car.
Considerations regarding financing. Motor Vehicle Tax (IPVA), insurance, fuel and any repairs such as the inspections specified in the car manual and which are mandatory for the warranty to be valid.
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