Financing and consortium are the best-known options for purchasing a car, but they are not the only ones you can use.
Buying a car is among the main desires of most Brazilians. Many people want to buy a car because of the need to get around, but do not have enough resources to make that purchase in cash. In these cases, the first solutions considered are usually to resort to the bank to request financing or consortium, failing to consider the personal loan as an interesting solution.
The requests for a loan to buy a car
Has grown in recent years, precisely because it is a more suitable alternative to the pocket of those seeking extra resources. The other options offered by the financial market do not always meet the needs of the consumer, so it is worth considering personal credit as another possibility to help you.
Unlike the other formats, the loan allows more freedom when choosing the value. Banks, institutions and Good Finance offer a range of possibilities, where you can apply for a credit that usually ranges from R $ 2,000 to R $ 50,000. Thus, it is easier than splitting a part of the vehicle on a credit card, for example, and bearing the high rates of revolving interest.
Another advantage of the car purchase loan
In addition to the varied value options, another advantage of the car purchase loan is the payment terms. You can choose the period that best fits your financial reality. That way, paying the borrowed credit will not become difficult and will not even negatively compromise your budget.
With a resource available in your hands, it is possible to opt for cash purchases. Another way out, too, is to apply for the loan just to get into the car. In this way, you are able to give a high value as a down payment and greatly reduce the amount that will be paid in installments. But be careful, for the second alternative, it is worth considering that you will have two amounts to be paid in installments, the rest of the car value and the installments of the loan you requested.
What to consider when taking out a loan to buy a car?
Decided to take out the loan? Now is the time to research. Choosing the personal credit service requires prior knowledge about your financial scenario, about the conditions offered by the market and also about the car options you are interested in purchasing.
What is the average value of the car you want to buy? What is the best amount to offer at the time of negotiation? Also, search for financial institutions, interest rates, loan repayment terms and gather as much information as possible. They are the ones that will help you close great deals, both when applying for a loan and when buying your car.
The next step is to look at all the details of the contracts that financial institutions will offer you. Interest rates vary widely according to the profile of each consumer, with the type of vehicle and the value of the entry.
In general, this financing has better interest rates compared to another financing. However, personal loans are a great option if you haven’t found the “perfect financing” for what you need. In addition, this loan can be a good alternative when buying used cars, since not all institutions accept financing.