Despite traffic and vehicular congestion, acquiring a car is still on the list of dreams of Colombians, and the numbers prove it. According to ANDEMOS (Colombian Association of Motor Vehicles), in September 21 430 cars were sold, which shows that the automotive sector is recovering and aims to continue increasing
One of the points that greatly influences the purchase decision has to do with the financing of the vehicle. If a vehicle loan is chosen, which is the most popular form, you should keep in mind that there are different plans to which you must apply. Many times, brands have partnerships with banks to offer these options to customers, but also
It is possible to find them directly in the financial institution.
If you are thinking of buying a car, then these are financing plans that you should know:
This plan is ideal if the client has 50% of the value of the car available, as it allows him to pay half and continue paying the other half on a regular basis, often without charging interest. In other cases, they offer to pay half and, in a year, pay the remaining half. The plan may vary, but its main feature is that the client must have that amount of money.
Zero initial fee plan
If you have an adequate credit profile, how to prove your income, good track record, etc., it is possible to access a zero down payment plan. This plan is ideal for those who failed to raise the initial amount that is usually requested, as it allows them to access the car and continue paying it monthly. What you should keep in mind is the term, since, if the condition is to choose the maximum possible, it will end up generating many interests.
A special initial fee
In some cases, brands make alliances with certain banks and undertake to give a special bond that results in the reduction of the initial fee, that is, instead of granting the regulatory percentage, you can do so only with one thousand dollars or with 5% or 10% of the car. The conditions vary depending on the entity that finances it.
In addition to these plans, what you should look for to find the ideal vehicle credit is both interest rates and additional costs, since both will make the difference between a dream loan and one worthy of nightmares.
If you need to compare the alternatives, use the Hello auto credit comparator.