Did you know that financing and consortium are not the only loan options to buy a car or motorcycle? If you are thinking about purchasing a new vehicle, personal credit can also be a solution suited to your pocket.
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Loan to buy a new or used car
Several banks offer vehicle financing, but the consumer does not always find an option that he likes or that fits in his pocket. What some people are unaware of is the information that financing and the consortium are not the only forms of credit to purchase a vehicle.
A registration loan is a good solution for those who want to buy a car but do not have the full amount to pay the good in cash. Also, in this option, it is possible to find credits of various values and with the availability of installments in up to three years.
In the loan to buy a car made on the Lendico website, for example, the consumer finds the possibility of asking for a registration loan between R $ 2,500 and R $ 50 thousand to pay in 12, 18, 24, 30, or 36 months. This way, it is easier than splitting a part of the vehicle on the credit card, for example, and paying the rotating fees.
Another advantage when taking the loan to buy a car is that the consumer can arrive at the store with the cash value, which gives him greater bargaining power. That is, even if he has to pay the interest on the loan, he can earn a discount on the value of the vehicle when negotiating with the dealership.
In general, car finance has better interest rates than most loans, but registration loan fit as an option for those who have not found a good loan that suits their needs.
Also, the registration loan can be a good option for those who are buying an Individual vehicle or when the customer wants to buy an older used car since some entities do not accept the financing.
Tips for Buying a Vehicle
Whether or not you take a loan to buy a car, a few things need to be taken into account:
Compare interest rates. Before deciding how you are going to pay for your new vehicle, do financing and registration loan simulations, payroll loans (if available to you), and other forms of credit that are viable. Understand how much you will pay for each of the possibilities and then choose the best one.
Make a conscious purchase. Before purchasing a good it is necessary to understand if the debt that is being made fits your budget. In addition to calculating interest, you need to see how much you can pay without compromising your financial health.
Negotiate. When purchasing a vehicle the consumer finds the option of negotiating between the automakers and also between dealerships (mainly when buying a used one). Use this consumer power to get the best deal.
Look at the CET. Looking at interest is important, but have you heard of the Total Effective Cost of the loan? The CET includes all fees related to the credit taken and this is the amount you should consider when choosing how to pay your loan debt to buy a car.