Car

Are you going to finance a car? Our guide can help you!

Financing a car is making life easier for people who want a more expensive vehicle, or who don't have the money upfront. How about understanding the process with us?

Learn about interest rates and everything you need to know before financing a car.

Mas, afinal, quais são as taxas de juros de um financiamento? — But what exactly are the interest rates on a loan?

Without a doubt, just as important as choosing between different banks to finance your car is knowing what the interest rates are for a loan.

Today, it is difficult to establish an average financing rate, given the current economic scenario in Brazil.

Each bank usually has its own rate, so you need to shop around.

Some entities traditionally specialized in vehicle financing, such as the well-known BV Financeira, may offer low interest rates.

A highly probable value for an interest rate that our experts have found is around 2.2 to 3.5% per month.

Therefore, this is the average price range found today in the vehicle financing market. But you need to know more than that before making a decision! So, stay with us and grab a pen and paper.

Find out if financing a car from an auction is a viable alternative.

Find out if it's possible to finance a car from an auction and get even better deals when looking for a car to call your own.

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What is needed to finance a car?

Well, for vehicle financing to be safer and consequently more advantageous for the buyer, it has a series of requirements and demands.

Therefore, banks requiring financing for your car demand a series of conditions that need to be met, relating to the verification of documentation ranging from proof of residence to proof of income.

These two are clear indicators that the buyer will honor the payment until the end.

So, check out the list below which contains everything you need to finance your car.

Personal documents such as ID and CPF (Brazilian tax identification number);
Proof of current address: this can be a water, electricity, gas, telephone, cell phone, or internet bill. It must show your address.
Proof of income: this can be your payslip or bank statement if you are self-employed;
Credit and transaction history: This is used as a security score, as it assesses how well you have honored your previous credit commitments;
Information about the vehicle to be financed: model, year, price and more details;
Age: You must be over 18 years old, and in some cases there is a maximum age limit;
Down payment: A down payment will be required to finance the remaining amount.

How long does it take for the bank to approve the financing?

Mas, afinal, quanto tempo demora para a aprovação? — But ultimately, how long does the approval process take?

The financing approval time is linked to the chosen method for purchasing the vehicle.

Therefore, if it's a purchase from a dealership or a used car lot, financing approval can take less than a day.

This is provided that you bring your personal documents and supporting documents for analysis right away.

Furthermore, if the delay exceeds this period, it may be due to a discrepancy between the data in the database system and the information you submitted.

Financing through a bank or cooperative can take about a week. Now, how about checking out an excellent selection of financing options to make your dream car a reality?