Popular car financing, how to get it?

Nowadays, many Brazilians have the dream of having their own car, but nothing is easy in this life, right? But in this article you will read many tips and plans for you to be able to finance your popular car.

Sometimes you spend hours at a bus or subway stop and think "if I had a car, I would be on my way to work", and many times that journey from home to work can take more hours than you are working at you, and it is for this reason and others that you should think about buying a popular car, because a popular car in addition to being "cheaper" than other more luxurious cars, it will help a lot in your life, but like everything else they are flowers, you might even be thinking about buying a car but maybe you don't have all the money to buy a car, right?, that's why you should think about taking out a loan.

What are the risks of financing a car?

Before you think about taking out a loan, think about planning because that's how you'll be able to pay your car loan every month, planning your monthly income is essential so that you can organize all your bills and that's how you'll get it pay your financing without having to go through financial problems over the years, so check out the tips below on how you can organize yourself financially to be able to pay off the popular car financing.

1- Carefully choose the number of car financing installments

For those who are financing a car for the first time, a very common mistake is choosing the number of installments. In general, negotiation works as follows: the greater the number of installments, the higher the interest. Therefore, those who fail to make a relatively high down payment will end up leading to more payments and more time. In this sense, in car financing, the down payment should be prioritized as little as possible so as not to be affected by interest.

2- Find financial institutions

If you are looking for car finance services, you may already have access to many lenders and bank lists, however, this decision should be taken with caution. First, understand the agency's reputation and check the terms provided by each agency or bank, use this search for automotive financial simulations, by entering information such as monthly income, entry price and number of installments, you can quickly access average installment information vehicle, search the Internet, talk to friends and family and set up a meeting to speak with your bank manager.

3-Choose the vehicle financing method

This choice is one of the main aspects of vehicle financing, each model offered on the market has its own and exclusive characteristics, so understanding them is part of the process of finding the best option for you.

How the financing works

Financing in Brazil works as follows, the bank will lend a credit amount and charge it in the form of interest depending on the installments you choose, the procedure for the bank to approve the credit will depend a lot on the credit amount and the credibility of the person, for example if the person is negative or not and etc.

The entry into the financing is very important for those who want to save when taking out their financing, so the best thing is that you save an amount to give as a down payment when you go to do your financing, so you will save and pay less interest. , for example: the car costs R$25,000, and the buyer has R$10,000 available for down payment, the rest of the amount will be paid in installments and thus the buyer will pay less interest and have the possibility to pay in more installments , which is why you should get an entry.

How to get approved for a loan?

In order to be approved for a loan, you must pay attention to several factors that the bank or financial institution will consider, for example: your monthly income will be one of the most important factors when applying for a loan, because the higher the your monthly income, the greater the probability that you will be approved, another issue that the bank will consider for approval is the down payment, because the greater your down payment, the more chance you have of being approved for financing.

Choose the value of the car well, and the best thing is that you choose a new or semi-new car to be able to finance it, because the newer the car, the better it will be for you to finance it, other factors that the bank will consider is whether the name is clean, having a high score increases your chance of being approved, because with a high score, companies, banks and financial institutions understand that you are a good payer, that is, you are a person who always pays bills on time, who never one payment is missing, and this increases your financial credibility and your chance of getting any financing.

How to choose the best financing?

Your money is at stake and that is why you must pay close attention when choosing the bank or financial institution to make your loan. You must consider the term, amount of the installments, and especially the amount of interest on the financing installment. Another very important point is the amount of insurance, and lastly, research a lot about the bank or institution that you will choose to finance. Research if it's reliable, if it's worth it, if the interest is too high or not. And don't forget to do your financial planning so that you can pay all your financing installments on time.