Purchases of cash are currently less frequent. For lower value goods such as home appliances, consumer electronics, furniture and other products, the credit card is a facilitator.
When it comes to higher value goods such as vehicles and real estate, there are options such as financing and consortium. However, it is not always easy to get credit to finance a car.
How is car finance done?
Car financing, whether new, used or used, is made through private or public banks through Direct Consumer Credit (CDC). Interested parties can contact the bank directly to find out how credit is granted to finance a car.
There are online financing platforms that operate on equal terms and / or even more advantageous than financial institutions, and have great differentials, such as agility and convenience.
The amounts available for financing and the value of the installments are defined according to the consumer’s salary, the year and model of the vehicle and also the payment term.
What bothers the consumer when getting credit for finance a car?
Since the financing is, in fact, a loan that the bank is making to the consumer, it involves risks for the institution, ie the risk of the consumer not paying back.
Because of the risks, the financial institution charges interest on the installments and also advises the state of consumer credit in trade. For this analysis, he consults with credit protection agencies such as SPC and Perasa.
If the consumer has his CPF enrolled in one or more of these institutions, it is likely that the credit to finance is denied, because the bank does not want to take too much risk.
When a person makes a purchase and does not pay, the company records his or her social security number with the credit protection agencies. Thus, the defaulting person stays with the “dirty name” until they pay off their debt. You will only have access to the CDC after an average period of 90 days after discharge of the pending discharge.
What are the alternatives to defaulters to get credit to finance a car?
Some banks and other smaller financial institutions may even release credit to finance for a “dirty-name” consumer, as long as he really shows interest in paying and proving his income.
But that is not the rule. And the exceptions often take a long time to find.
Another way to get credit for financing a car is by buying on behalf of a person who has a “clean name” – a trusted person, as the vehicle will be in her name. If you are a partner of any company, the loan can be made using the CNPJ, as long as it is free of financial restrictions.
The consortiums of not consult credit protector to sell their quotas, but after contemplation, if the consortium member has the “dirty name”, they will not be able to receive the letter of credit. This is very important to know before joining a consortium group.
The best solution for getting credit to finance is to avoid defaulting or already in arrears, to try to repay them as soon as possible, by contacting the lenders and negotiating values. It is important to value your credit as it is becoming increasingly difficult to get new loans.
What is worth doing before funding?
Considering that you are a good payer and have no debt spread across the trade, it is recommended to do a good research before accepting any financing.
Through the internet, you will find different vehicle financing institutions, including you can go to the website of the most well-known banks.
Check the reputation of the institution, contact it, ask questions, compare interest rates and other charges. Realizing that she is really good, you can get her credit to finance a car.
Ideally (and it’s a point that many institutions note before approving funding) is that you only commit up to 30% of your income to the business. Simulate on the institution’s website and see the available options.
Acting with caution and maintaining good business conduct, getting good credit to finance a car becomes a relatively simple thing.