Undeniably the financing simulator It helps us a lot when deciding whether to buy a house or apartment, as we can get accurate information about the financial market without leaving home.
In the past, this was impossible and to simulate financing it was necessary to go to the bank.
This need has certainly been eliminated, simply by using the internet we can get the information we want.
This way, we can simulate at the best banks and determine the best option for financing a car.
Continuing on this subject, today in our article we will discuss the vehicle financing simulator.
We have gathered a series of information that will certainly help you in this very important process of obtaining financing.
How is the loan/financing calculation done?
For you to discover the calculation of your financing or loan, you will need to either do an online simulation, using a financing calculator (as you will see below in this article) or you can choose to do an online simulation for the type of financing you intend to do.
In this case, you can access the official websites of the respective banks.
But don't worry, below we will give you a comparison of the best banks for you to get financing.
What is the financing simulator?
The financing simulator consists of a digital and online tool.
This allows you to find out in detail about the financing you are thinking of applying for.
This mechanism is undoubtedly essential for anyone looking to save money, as it shows us which banks have the lowest rates on the market.
Without using this simulator, you will end up closing a deal with the company with the highest interest rates, which will result in expensive financing.
What is simple and compound interest?
First of all, we need to understand that we will always pay interest, regardless of the financial transactions we choose.
However, it is necessary to understand how simple interest and compound interest work, in order to have financial education that allows us to make smarter choices.
What we need to keep in mind is that there are two types of interest: simple and compound. See below for an explanation of each one!
Simple interest
In general terms, we can understand that simple interest is that which is applied only on the amount borrowed, without adding any other element to the calculation. Let's see an example to better understand how this works?
Let's understand this in practice? Let's see: suppose you took out a personal loan worth R$8,000.00 to be paid at a rate of R$31,000 per year. In this case, you would pay a total of R$8,240.00. (R$ 8,000.00 loan and R$ 240.00 interest)).
Therefore, as we can see, the interest was calculated only based on the R$ 8,000.00 that was borrowed, without changing in the 3 years of the contract.
Meet our simple interest calculator!
Compound interest
Now compound interest is completely different.
Other people also call it “interest on interest.”
Therefore, in this case, interest is recalculated in different financial intervals, applying interest already calculated previously.
In other words: interest is charged on amounts that already had interest. Hence the term “interest on interest”.
Let's get practical: you financed a simple car worth R$ 10,000.00, with compound interest of 3% per year, therefore, within a period of 3 years.
In the first year, you will have to pay interest equivalent to R$ 300.00 (3% of R$ 10,000.00). However, for the second year, this amount would technically change, because this would be interest on interest.
Therefore, the base calculation value would be R$ 10,300.00 (R$ 10,000.00 of the loan and R$ 300.00 of interest for the first year). Therefore, 3% of this would be R$ 309.00.
Finally, in the third year, the base value of the calculation would be R$ 10,609.00 (R$ 10,000.00 loan + R$ 300.00 interest for the first year + R$ 309.00 interest for the second year). Therefore, the interest payment would be R$ 318.27.
To summarize everything we've talked about: in total, you would pay R$ 10,927.27 to the bank that financed your motorcycle, with R$ 10,000.00 in loan and R$ 927.27 in compound interest.
Did you understand? If not, leave your comment at the end of this article.
Advantages of using the financing simulator
Why should I simulate before financing? You will have this answer by seeing the advantages of simulating below. Take these advantages as a basis and do not ignore them, and they are:
Discover all the opportunities previously
By choosing to simulate, you will be able to see all the opportunities in the market and classify them according to which is the best.
Possibility to compare rates and their effects in the future
Without a doubt, the most important factor in financing is interest rates, which is why you cannot finance without studying the information.
With the simulator you will get to know the interest rates and their effects on financing.
Discover Digital Seguro's financing calculator
In order for you to simulate financing, you must first have a fixed amount that you need to carry out the simulations using our calculator that we developed especially for you.
After that, go to their website and look for the simulator, so you can fill it out and get the results.
Check below how you can do a simulation using our Digital Seguro calculator.
Main financing simulator options
Santander Financing Simulator
You need to choose the value of the property, how much you want to finance and see the conditions that the bank has reserved for you. In the online simulation of Santander Financing you will be able to know about the bank's rates and interest. To find out now, simulate here.
Itaú Financing Simulator
Bradesco Financing Simulator
Banco Bradesco also stands out with property or real estate financing, with it you can finance up to 80% of your property, you can also do it in up to 30 years for payment.
Fast agility, that is, the response process does not take days.
Everything, thinking of you. To know more, simulate here.
Make your choice now!
Simulate, compare and choose the best financing with Digital Insurance.
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