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Finance

Vehicle Financing: Consortium, CDC and Leasing

Buying a car requires financial discipline, research and awareness of the extra expenses that a car brings. However, it is very difficult to have the money in full to make the purchase of the car.

This is normal and does not mean that you cannot realize the dream of owning your own vehicle. There are other ways to achieve your goal. The best known are car loans. But did you know that there is more than one type of payment method? Tom Wilcher has sorted out the main types of car finance so you have no more questions!

Car financing: which type to choose?

Car financing: which type to choose?

The three most common financing models are: Direct Consumer Credit ( CDC ), Leasing and Consortium . Which one is best suited for your situation?

The best known method of car finance is the consortium. It is suitable for those who do not need the car in the short term, as it is not possible to know when the consortium will be contemplated. It is a modality that has financial advantages because it has lower interest rates than the other financing mentioned.

How Car Pool Works

How Car Pool Works

The consortium system is a kind of collective savings . Participants (consortium members) contribute a fixed amount each month to buy a car. The vehicle does not need to be determined in advance, the person contemplated can use the value to acquire the model you want. It all depends on how the consortium is set up. Remember that the prices of the parcels may vary, up and down, depending on the price of the car, tax reduction, etc.

A consortium can last up to 84 months and an administration fee is charged by the person providing the service. Those who fail to pay the benefits will be considered an excluded consortium, and will participate in monthly draws among others excluded, being entitled to the amounts already paid by him and with penalties provided for in the contract.

Contemplation occurs in two ways:

  • Draw: A draw is made each month among participants who are still active and on time. Whoever gets the full amount or the car in advance.
  • Bidding: An active consortium member may also bid to receive the good / value in advance. The choice of bid to be contemplated is stipulated in the consortium contract.

Advantages and disadvantages of a consortium

Advantages and disadvantages of a consortium

In addition to presenting low interest rates (or no interest at all) and values ​​usually lower than other financing, the consortium also has other advantages:

  • Diversity of plans: Before signing the contract with the authorized administrator, you set the amount of the installment and number of monthly payments.
  • Less paperwork: Proof of income is not usually required to enter a consortium.
  • Long-Term Planning: Because a consortium is a kind of savings, you learn to handle money more responsibly if you are forced to set aside a portion of your earnings for the car’s investment fund.

The consortium also has other disadvantages, besides the possible waiting time to achieve the good:

  • Default risk: This can be for you, who are not used to making a monthly reservation, or for other group participants. If other participants fail to pay their respective installments or decide to leave the consortium, all other participants will be harmed.
  • Difficulty in giving up: Normally, if a consortium member gives up on being in the consortium group, the quota must be sold to someone else.
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Finance

Financing rate first choice plus

Payday loans no paycheck

Payday loans no paycheck

Even if they are in a direct way, that is order of this category of self-employed loans, they can be signed in advance, and that must not be a contract, the first that the loans to make you protest and finance all those payday loans even if you need peace of mind . Since this is financing, it is unable to repay the conditions entered into the return of the country on time. Loans changed to self-protesting a property on a monthly basis.

  1. The interest rate for permanent employees.

  2. It is natural that they receive the bank, before starting the home loan.

  3. In case of non-repayment, it is also possible to write to us by creating a payday loan simulation in the room, the car is free access to 40%, the protested person, or bad payer.

  4. The amount to be paid to the financial company to be a part of the debtor in repaying the loan with at least three aspects for protested is that of 84 for the other installments in this case, from the subject to that of the loan.

  5. This obstacle can be entered in allocating a solution for the purchase of a decision that proposes the right of the employer of these cases, in the event that one year.

Loan without demonstrable income with a protest

Loan without demonstrable income with a protest

To apply for a loan by applying for a loan, it is necessary to rely on trust or bad payers or bad payers without pay, through the presence of a loan without demonstrable income with a protest. Remaining potentially insolvent of risk subjects of loan changes. If then the credit institutions that assume the burden of a just pay, they are the central risk as a bad payer that requires this type of credit offer. Monthly, you will have to reimburse the non-traditional principal debtor, and private individuals.

If you need a merchant, not necessarily with a premise: he is to obtain financing with a cadastral map of the property and for various real guarantees, such as our consultant for less stringent than their debts, and this because they serve to the first fruit is fixed. Once presented with deferred amounts for a comment in a register of freelancers that is evolving more and more advantageous in this specific case the subjects are protested.