Interest on Loan with Vehicle in Guarantee

Brazil is a country that has very high loan interest rates and taxes, which can create debt situations that are difficult to resolve. What if we tell you that your car parked in the garage could be a solution?

Just do a refinance. In order for you to understand the advantages of this option, we will explain how the interest rates on the secured vehicle loan work.

We know, after all, that among the countless forms of concession that exist on the market, refinancing is one of the most advantageous.

It can give you access to considerable amounts with a much more affordable fee for you to pay. It is not by chance that this option to obtain credit has been growing in the country. Find out below why it offers the best interest!

How does interest in the vehicle loan guarantee work?

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Basically you will need to place your automobile as a guarantee of the payment of the contracted loan.

For the bank, divesting its property means greater security – this is because put simply, the institution is more confident that it will not default. After all, if the amount is not paid, the bank will take the vehicle.

It would serve to cover what the institution did not receive from the debtor. Because of this, companies lower interest rates, as they consider the transaction more secure.

In this way, you get more than 50% of the price of your car as a loan. The exact percentage will vary depending on the chosen financial institution. Another influencing factor is the age of the vehicle: the newer the better the rates and values.

Interest starts at just 1.50% per month

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Thanks to the practices we described earlier, refinancing interest can start at 1.50% per month. In comparison, interest rates for personal credit in the country’s major banks varied between 4.33% and 5.91% in 2018. In January this year, the minimum rate reached 3.78% according to the Good Finance Bank.

The drop in interest rates also affects this modality, which already has better rates. That is why in most banks and fintechs it remains below 2%.

Knowing how the interest rate on the secured vehicle loan works, it is clear why it is advantageous. Today it is one of the best alternatives for those who want to escape the high-interest rates of the credit market.

The best alternative to high-interest rates

The best alternative to high-interest rates

This form of borrowing is a hand in the wheel – no pun intended! – for those who can no longer bear the debts. You don’t even have to finance the entire value of the car, but just what you need.

It is because of all these advantages that more and more Brazilians use their cars as a guarantee in obtaining credit.

Want to refinance with low-interest rates? So take the time to visit our website

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In this article, we check how the interest rate on the vehicle secured loan works. For a service specializing in secured vehicle and property loans or auto finance, visit our website.

We help you negotiate with the most advantageous financial institution for your needs. Find out more by clicking here.

I am negative, can I take a loan online? – Guarantee

Are you negative and need to regularize the financial pending,  Although many think the opposite, it  is possible to hire a loan online, even with financial restrictions. If you fit this group of consumers, follow our article today and ask your questions about it. See the conditions and find out if you can. Are you able to get the loan?

 

Understand the online loan

Understand the online loan

The online loan available quickly and simply, especially when the customer, even with a negative name, has a pre-approved limit. Are you can get it through your bank or through financial intermediaries and online platforms. It is interesting to note that, due to the name restriction, the interest rates applied to loans for negative payments may be higher than in the payroll loan, for example. However, when we talk about online loans, the interest rate tends to fall, mainly because a virtual environment is used, which requires few physical functionalities.

 

Conditions for hiring online loans by negative

online loans by negative

The conditions of online loans for negatives are different when compared to the conditions of loans for those who have a clean name. If you theoretically, the chances of not repaying the loan installments, in the view of the financial or bank, are much higher. See below the main eligible profiles obtaining the online loan, even with a dirty name:

  • Retirees and pensioners
  • Public Servers
  • Military Police
  • Self-employed and salaried
  • Owners of real estate paid off

 

Main advantages of online loan

online loan

  • No queues: how transactions are carried out online, you do not waste time in long and long lines;
  • Flexibility: hiring can be done anytime, anywhere. How can I not it is necessary to obey the opening and closing times of bank branches, for example; it is possible to send your proposal between one appointment and another;
  • Quick analysis: can online loans be acquired more quickly, precisely due to Flexible cadastral analysis. While in banks, approval can take weeks, on digital platforms, the result comes out in a few days.
  • Lower rates: how did we say there at the beginning of the article, the interest rates on online loans are much more advantageous and lower than those of conventional loans. The advantage attracts customers who are always looking for the lowest percentages.
  • Comparison of rates and values: in a few minutes, the client has access to several loan options, being able to quickly check the applied interest rates, number of contracted installments and other information. All information is provided on the computer screen, before closing the contract.
  • Security: Unfortunately, going to the bank an increasingly risky choice,  what people of m -f they are always ready to act negatively. When we hire online, we can be unconcerned about insecurity. Also tranquility, how much online security, already that platforms are technologically protected from intruders.

You can access these and other loan options on the credit comparator within the Good Lenders app. So, are you do you know how much to go pay interest and installments at each partner institution. If it is in need of a loan, download and check it out!