According to the experts at My Happy Pocket, the ideal way to buy a good is to do long-term planning, apply the money little by little in an investment and, in the end, buy the good in cash, and even bargain a good one. Discount on payment. “In theory, this would be the perfect scenario: the consumer pays no interest, buys the good for a smaller amount than if he had to pay in installments and still pays off the product in a shorter period of time than if he had to finance it” , explains the portal’s financial educator, John Demnolis.
However, he shows that in practice this project requires discipline. In addition, the consumer often needs that good or does not want to wait so long to gather all the money to buy it in cash. “Credit tools should not be viewed as villains. They arise precisely to give vent to the consumer’s dreams, especially long-term ones. However, these tools need to be used with planning and intelligence for the dream not to end up becoming a problem, ”ponders Demnolis.
And that reasoning is no different in car financing.
SPC Brazil economist Meireilas Kawauti explains that consumers can save up to R $ 4,000 on the total financing value of a new car simply by researching the cost differences between other banks – without having to increase the value of the entry or shorten it. the payment term. “The spot price is always the lowest, but in case of installments, you need to research a lot, be aware of the interest rate and calculate the total cost of financing and not the value of each installment”, advises Meireilas.
Few people know but interest prices are not fixed and can be negotiated depending on the customer profile, payment terms and even the car model. “That is why it is indispensable to research and negotiate. Consumers may be able to lower the price of interest, depending on the amount of down payment and the length of time they will need to settle the car. In addition, dealerships usually vary the price of interest, depending on the make and model of the car, ”explains Meireilas.
Does zero interest exist?
The “zero interest” tactic is widely used in dealership advertisements. Experts warn that zero interest, most of the time simply does not exist. Usually the interest is camouflaged in the total cost of the car, since the same model is sold in cash by the dealership at a good discount. “In fact, to be zero interest, the financed amount has to be exactly equal to the cash value, which almost never happens,” warns Demnolis.
In the My Happy Pocket portal, you can better understand your options when buying a car and which one to choose. Click here.
Decided to finance your car?
- Then check out five tips to help you:
Commit no more than 30% of the net household budget, which is what remains after settling the expenses. If there is another large debt, such as the installment of a property, the two mortgages must fit within that 30%;
Try to minimize the number of benefits. If the amount does not reach the ceiling of 30% of your net budget, we recommend reducing the number of installments. In general, the lower the number of installments, the lower the interest rate will be;
Faced with a good opportunity, do not act on impulse. Return home, think about it, do the math, and come back to the seller again with the final proposal;
Remember to have a reserve for the extra expenses you will have with the new car, documentation, IPVA and insurance.
Almost all banks now offer auto finance, so choose the one that offers the best terms, go to that comparator and find out in just minutes what is the best option.