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How much money does it take to finance a car?

Before buying a financed car you need to pay close attention. Consumers should pay attention to the conditions of interest rates, entry value, documentation, bank analysis, among other things. Run simulations, check all expenses, and negotiate as much as you need to get the most out of financing a vehicle.

Check out the conditions for a vehicle loan a little better:

 

What is the entry value for financing a vehicle?

What is the entry value for financing a vehicle?

Generally, the entry requested by most banks is 10% of the value of the car. In most banks and financials, it is not possible to finance without giving at least this percentage of entry. A car worth R $ 30,000, for example, needs to enter $ 3,000 for financing.

The tip is that the larger the amount given in the down payment, the more advantageous it becomes in financing. The higher the inflow, the lower the average interest rates and consequently the value of the installments. With a larger down payment, the consumer gives more guarantees to the bank about the payment and with this, the institution offers better conditions.

The tip is that the larger the amount given in the down payment, the more advantageous it becomes in financing.

 

How much will I spend to pay for vehicle financed documents and taxes?

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For a car worth over $ 30,000, you will spend an average of 10% more of the value of the car on documentation, or about $ 3,000. Once the financing is approved and the down payment is paid, you will have to pay for the vehicle documentation and pay the IPVA, the transfer of ownership, the compulsory DPVAT insurance and even if you want to pay the vehicle insurance.

Although optional, car insurance is important for peace of mind when it comes to paying for possible car damages and repairs or even worse in bodily harm from possible vehicle crashes, thefts and thefts.

 

What is the average value of the parcels?

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There is no average value of installments, it depends on the value of the car and the input given by the buyer. Confirm with the bank all amounts, interest rates and installments. Look for the most advantageous financing, with installments that fit your monthly budget, so as not to assume a debt that you can not afford, avoiding future complications, since by failing to pay the installments, the bank can repossess the vehicle.

 

Simulate the financing before closing it!

Simulate the financing before closing it!

To get an idea of ​​the total amount of funding, simulate the values. There are several simulators on the internet, including simulators from the banks themselves. As interest rates change a lot, it is necessary to follow the data released weekly by the State Core Bank on the rates practiced by large and medium-sized banks in the country.

In addition, after closing the deal and paying the down payment, paying all the documentation and having the vehicle in hand, be sure to pay the installments to maturity until the end so you don’t have problems with the bank.

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