Loan and Credit Vehicle Financing

The option is interesting for a number of factors such as your interest rate. Operations carried out in October 2018, for example, had a rate of only 2.07% per month.

There are several advantages to joining a car finance. Like interest costs, usually lower than on a personal loan.

Loan and Credit, what are the advantages?

Loan and Credit, what are the advantages?

 

At the same time, it is possible to make the installment of a high value. So instead of saving for a long time, the consumer can buy their good and then pay them off gradually.

The costs and terms of tuition vary, including considering the cost of the car. Factors such as the amount of income and monthly income of the individual are also often considered.

Disadvantages?

bank

 

In any case, this type of financing is limited. This is because it is only available to Gazin employees.

services

In addition to the installment of a vehicle, the financial offers services such as:

  • Receivables prepayments,
  • Working capital
  • Loan for INSS retirees and pensioners.

As well as payroll-deductible loans and personnel, and post-fixed Bill of Exchange issues. All of these can also be used by Gazin partners and customers.

Vehicle Financing Rules at Loan and Credit

Vehicle Financing Rules at Loan and Credit

 

As mentioned, vehicle financing at Loan and Credit is only available to Gazin employees. Individuals must also be residents of the states of Paraná, Mato Grosso do Sul, Mato Grosso, Acre, Rondonia, Pará and Rio Grande do Sul.

Vehicle financing at Loan and Credit can be done by Gazin employees, furniture store and electros.

Loan and Credit financing has a repayment term of up to 48 months . The company installments up to 70% of the market value of the vehicle, and cars 0 km or up to 7 years of use.

In any case, the car is used as a guarantee of operation. This means that keeping payments on time is even more important.

Otherwise, the asset may be “taken over” by the finance company as a form of debt settlement. In any case, this is considered an extreme measure, and only occurs after the attempt to negotiate the debt with the consumer.

Five concepts you should know before hiring a loan – Savings Bank and Business Loan

Key concepts to know and understand before signing a loan contract

There are many reasons to contract a personal loan and to be able to get the liquidity that is needed in order to face an expense. Whatever the reason, the important thing is to know well what a loan is, its operation and the keys to get the best loan in terms of cost and other conditions.

For this, there are at least five concepts on loans that should be known:

 

APR

money loan

This is the Annual Equivalent Rate and reflects the real cost of the loan. The APR is expressed as a percentage and is decisive when comparing loans based on cost. The APR includes not only the price at which the bank lends the money, but also includes the expenses and commissions that the loan has. In this sense, whenever you want to compare loans, it is better to look at the APR and not only the TIN (Nominal Interest Rate) that only includes the loan price and not the other expenses.

 

Repayment term

Repayment term

It is the time that the holder of the loan has for the repayment of the loan. In general, personal loans do not usually have a repayment term of more than 8 or 10 years, although it is true that the loan amount influences here.

It is important to know that the longer the term, the more comfortable the monthly installments will be, but the more expensive the loan will be since more interest will be paid for having more money without being repaid.

It is advisable to establish a repayment term taking into account the fee that can be assumed each month based on income, being the best to return the loan in the shortest possible time.

 

Indebtedness rate

Indebtedness rate

It will be one of the aspects in which the entities fix their attention when evaluating the applicant. This is the percentage of income that will be used to pay the loan. The rest of the loans or credit operations that are already taken play here. In any case, it is recommended that the indebtedness rate or effort rate does not exceed 30% of income and in no case should it ever exceed 40%.

 

Commissions

bank loan

Not only do you have to pay attention to the interest rate that is applied to the loan, but to the rest of the expenses that can be incurred and that can make the loan more expensive. We talk about commissions, which we remember are agreed between the parties. The most common commissions are the opening ones, the one that is charged for formalizing the loan; that of partial or total early repayment, very important if you want to cancel the loan before maturity; and the delay commission, which may not exceed 2.5 times the legal interest of the money.

 

Personal guarantee

Personal loan

In personal loans the guarantee that the amount will be returned is as your name indicates personal. This means that, in the event of a default by the holder of the loan, both present and future assets will be used to pay the debt. While, in mortgage loans, the guarantee is the property in addition to the personal, in the personal are your present and future assets.

If there are guarantors and non-payment occurs, it will be the guarantors who respond to the payment of the debt also with their present and future assets until the amount due is paid.

Can the loan be considered an investment?

More and more Brazilians are realizing the importance of investing. Investing can be a great way, either to secure retirement and live a smoother life in the future, or to raise money and achieve a goal more easily. But, did you know that a loan can be considered an investment?

The loan as investment

The loan as investment

What is an investment? In the simplest way possible, it is any action in which you apply an amount of resource to receive a financial return in the future.

There are several types of investment. Not only are savings, which are the best known and probably the least efficient, but they go to the most complex stocks. However, the loan can be a very positive investment. In it, you borrow an amount of money to receive the return plus interest in the future.

It’s such a good option, which is why banks do it. Banks lend money to receive the return after their inception hundreds of years ago. In this sense, until recently, loans were exclusive to financial institutions. This is simply because of their ability to provide the capital companies needed.

However, there are currently systems and solutions that solve this problem for you, the individual, to be able to lend money and become an investor.

A good deal for both

A good deal for both

A good example is a P2P lending system , ie peer-to-peer lending or end to end. In this model, there is a platform where companies “advertise” that they need a loan for a certain reason. These reasons could be: running a project or needing resources to handle a very large order, for example.

On the platform, investors decide when they want to lend and to which company. As are many investors, capital is easily reached and the return is made through interest. That is, this set of investors played the role of the bank. Best of all, this process is beneficial for both.

For businesses, the loan is terminated faster. That is, there is a huge decrease in bureaucracy, which with banks is huge. This slows the process down and is very laborious.

In addition, borrowing from individuals through this system results in much lower interest rates than banks .

Stopping well to think, the loan is an investment for the company itself. No one borrows for no reason, so the company is investing in its future, either short or long term.