However, there is also the reality that many people find their names negative in our country, that is, they have difficulty in financing a vehicle with a bad name.
Currently there are more than 60 million Brazilians in this condition. Even so, it is possible to buy a car without a down payment.
This text will show you how to finance vehicles for people with negative income. Even though many still don’t believe it, there is the possibility of being able to buy a car with a dirty name.
Conditions for Car Financing for Negative Persons
Nowadays, having a car has become a necessity, precisely because it makes life much easier for Brazilians.
One of the things we can see is that every year millions of new vehicles are financed, whether new or used.
However, for many people who think about taking out vehicle financing there is a very big obstacle, which is the problem of name restrictions with credit protection agencies.
Sobuying a negative car is more difficult due to the negative conditions of the moment.
Generally, financial institutions do not have the confidence to release credit to customers who are in negative condition.
In addition, lately there is also great resistance if the customer, even with a clean name, has a low Score score.
Therefore, the ideal is to prepare yourself for vehicle financing in every way, such as:
- Have a clean name with the credit protection bodies SPC and SERASA.
- Have a proven monthly income that meets the institution’s requirements.
- Present a good Score
There is also the possibility of taking out a loan with vehicle guarantee, where your car is placed as a pledge at the fipe table value. This way, you can finance a car with a dirty name.
How to Buy a Car with a Bad Name
It is very difficult to obtain vehicle financing for people who are negative and have an invalid CPF. However, it is not impossible.
When a customer who finds his name negative and tries to take out vehicle financing, he must keep in mind that financial institutions will consult the bodies responsible for protecting consumer credit.
See some tips for this procedure:
1 – Look for a smaller or less recognized financial institution in the financial market in general. Some of them grant credit as long as customers can prove a well-paid monthly income.
2 – If you have already tried many financial institutions and the right to credit is denied, look for a trustworthy person to provide this financing.
It is worth remembering that this person must have proven conditions to take out vehicle financing.
It is interesting in this case to make a contract where there is a very detailed specification stating that the vehicle is being purchased in someone else’s name.
However, it will automatically pass to the name of the negative person when the vehicle is fully paid off.
3 – There are also many parking lots that sell vehicles that have been on the market for years. Many of them negotiate through promissory notes.
This is one of the most confident ways to obtain vehicle financing for disabled people.
4 – For those who have a very high monthly income and whose names are negative and have a credit card with a high limit, it is possible to make an installment payment in up to 24 months for the total amount.
However, it is recommended to make a down payment in cash.
5 – There is also the possibility of financing vehicles for disabled people using a checkbook.
This practice is usually done in parking lots or agencies that already know the customers.
Documents Required for Vehicle Financing
For a person to be able to obtain Vehicle Financing, they must fill in the following details in detail:
- Full name
- CPF – Registration of Individuals.
- RG – General Registry.
- Proof of fixed and updated residence.
- Proof of fixed and updated income.
- Be over 18 years old.
- CNPJ – National Register of Legal Entities for companies.
It is also recommended that the customer make a cash deposit. The higher the entry, the more chances of being approved in your proposal.
Another very important detail is to make an installment plan that fits your conditions.
In vehicle financing for disabled people, interest rates are higher, so customers must prepare themselves financially to obtain credit.