All Vehicle Financing plans have their advantages and disadvantages. Therefore, we are giving tips to our readers on how to find a deal that brings satisfaction when financing a car.
Therefore, the ideal for anyone who wants to buy a financed car is to know the details of the plan you are making.
In this way, CDC Car Financing is gaining more space in the vehicle credit market every day. Let’s see its conditions.
How Does a CDC Financing Plan Work?
CDC car financing (direct credit to consumers) is, above all, very simple to do, and this is one of the reasons there is so much demand for it.
This credit model serves other types of credit, such as credit cards and personal loans. However, vehicle financing is in great demand.
CDC car financing payments have a maximum term of 60 installments, but the customer can opt for a shorter payment term.
It is worth remembering that the greater the number of installments in a financing, the higher the interest to be paid.
An important point in CDC car financing is that you get a good discount on installment amounts if you pay in advance.
In other words, you can save up to 40% of the plan value if you can pay your monthly fees in advance. Among the points that stand out in CDC car financing are:
- The speed in which credit is released, in this case there is less bureaucracy to obtain financing.
- It is more flexible, you can choose between 24 and 60 months to pay your car financing.
- The customer can opt for a letter of credit or a cash deposit into their bank account to purchase their vehicle.
Observations That Make Up the CDC Financing Plan
When someone finances a vehicle through CDC (Direct Consumer Credit), the interest rates end up being a little higher than other plans.
This is due to a fee called IOF (Financial Operations Taxes). Furthermore, we know that over time the vehicle loses its value, due to the use of the asset itself.
The car financed by the CDC serves as a guarantee of payment to the BANK, that is, if the customer does not pay the Financing installments.
The financial institution may collect the vehicle and it will be used as a form of payment for the asset.
Therefore, it is important that anyone interested in buying a car does not compromise their monthly income too much.
How can I finance a car with the CDC plan?
The release of credit for vehicles at the CDC goes through the common criteria that make up vehicle financing.
The interested party needs to present their personal documents, prove their fixed address and also monthly income.
In addition, he cannot have restrictions on his name with the SPC and SERASA bodies. Another point to be observed is the payment history that the customer has in their city. The so-called Score.
Currently, banks that work with vehicle financing take into account the good credibility of those who want to take out vehicle financing.
As a Car Financing under the CDC plan cannot commit more than 30% of the customer’s monthly income.
The ideal would be to give a down payment so that the installments are not too burdensome for the payer. Therefore, it is extremely important to organize yourself financially before signing a vehicle financing contract.
In conclusion, we at the Consultar Carros team hope that all readers interested in financing a car under the CDC plan can close a satisfactory deal when purchasing their vehicle.