See the best options for you to choose your new car today.
In 5 minutes you'll learn about some of the car financing options available today, understand the real costs of each, know what documents are usually required, and discover alternatives beyond traditional financing. Gain a clear vision to choose the option that best suits your needs and make a confident decision.
What really matters when financing a car?
In practice, what most people value when seeking vehicle financing includes:
- Fast approval without excessive bureaucracy
- Competitive interest rates that fit within the budget
- Installments that truly fit in your day-to-day life
- Flexible entry or the possibility of financing 100% of the value
- Various deadlines to adjust the installment to your current financial situation.
- Purchase options with and without additional warranty.
- Easy to follow of the contract and installments through the app or internet banking
How to analyze and choose the best financing for your profile.?
Before signing any contract, consider these practical points:
- Your monthly income and expenses: avoid taking on installments that weigh too heavily on the budget.
- Interest rate (CET – Total Effective Cost)See the true cost of financing, including fees and mandatory insurance.
- Entry feeThe larger the down payment, the smaller the installments and the interest.
- Payment termsLonger payment terms reduce the monthly payment but increase the final cost.
- Possibility of amortizationCheck if the contract allows for early payment to reduce interest.
- Ease of online managementMonitoring your balance and simulating amortizations helps you stay in control.
- Requirements for approvalSome banks accept customers with little or no credit history.
Which benefits are most valuable?
- Fixed installments to facilitate planning
- Possibility of changing cars before the end of the contract.
- Reduced rates for customers with a good relationship with the bank
- Exemption or reduction of credit opening fees.
- Exclusive offers for purchases at partner dealerships.
Analyze what best suits your profile. For example, if you frequently change cars, financing with a guaranteed repurchase might be more attractive than paying for the vehicle until the end.
Tips for using financing safely
- Start small – use your card for small purchases initially
- Start with a payment amount that is comfortable for your budget.
- Always pay on time to avoid fines and interest.
- Avoid committing more than 30% of your income to car payments.
- Set aside some extra money for maintenance and unexpected expenses.
- If possible, pay installments in advance to reduce interest and pay off the debt faster.
It's a way to buy a vehicle by paying in monthly installments to a bank or finance company. You make a down payment (or not) and pay the remaining amount with interest, according to the chosen term.
Generally, the following documents are requested: ID card or driver's license, CPF (Brazilian tax identification number), proof of address, and proof of income. Some institutions also request a credit history.
The interest rate is simply the cost of borrowing money. The CET (Total Effective Cost) includes all charges such as fees, taxes, and mandatory insurance. Always check the CET to know the real cost.
Yes, some banks and dealerships offer financing for 100% of the car's value, but usually the installments and the total cost end up being higher.
It depends on the institution, but in Brazil the most common terms range from 12 to 60 months. The longer the term, the smaller the installment—but the higher the final cost.
Yes. A higher score increases the chances of approval and can guarantee lower interest rates. Those with low scores can still obtain credit, but with less advantageous conditions.
In most contracts, yes. Paying installments in advance reduces the outstanding balance and interest, lowering the total cost. It's important to confirm in the contract if there are any extra costs.
Late payments generate interest and penalties, affect your credit score, and can lead to the repossession of your vehicle, as it serves as collateral for the loan.
