Caixa Econômica has one of the lowest interest rates on the market, with this appeal many people do the car financing at Caixa.
However, the bank is also known for having unsatisfactory customer service, so if you opt for the best rates you will have to deal with the customer service. But since these are times of crisis, it is better to opt for lower interest rates and be patient enough to deal with the bureaucracy.
Among the advantages of doing a financing at Caixa, there is the possibility of financing up to 90% of the vehicle's value, which makes acquisition easier.
How to apply for car financing at Caixa
First, you must separate some documents, such as ID, CPF in good standing with the Federal Revenue Service, proof of income and residence, vehicle invoice or single transfer document (DUT), AND DETRAN FORM proving that there are no debts on the vehicle being purchased.
Caixa will evaluate your documentation and start a registration. If approved, you will be called to negotiate the financing amount and payment conditions.
You do not need to have an account at Caixa Econômica to apply for financing, but customers with a good history get better conditions. To get an idea of what your financing will be like, you can do a simulation at bank website.
What to think about before taking out a loan
An important tip when you decide to finance a car is that you should not commit more than 25% of your family income to this investment.
You should also remember that the cost will not only be the installment, you will have expenses with fuel, maintenance, tires, IPVA, insurance, among others, so you should put everything down on paper so as not to have surprises later.
Once you have studied all these possibilities and seen that it is within your budget, it is time to take advantage and enjoy your new asset!