Did you know that you have How to finance a Chevrolet Onix without a down payment even if you have a negative credit rating? This is information that many people still don't know, but you need to understand in depth how the modality works to have a better chance of getting yours.
Financing is one of the main ways for Brazilians to acquire a vehicle, but due to a series of bureaucratic procedures and a rigorous credit analysis, not everyone is able to pass the requirements and realize their dream of owning their own car.
But things get even more serious when the person who wants to receive financing has restrictions on their CPF and does not have the necessary funds to make the down payment on the financing.
In this article, you will see the best way to How to finance a Chevrolet Onix, even with restrictions on the name. In addition, you will find practical tips, necessary precautions and alternatives for this type of negotiation.
Betting on Financing
The Chevrolet Onix has been leading the Brazilian car market for years because it is a super complete car. In addition to being economical (both in gasoline and ethanol), it has an enviable connectivity system, MyLink, and various safety accessories such as stability control, front airbags and much more.
However, it is in the price that it stands out. With the most basic versions costing little more than R$90 thousand, he easily dominates the category.
Even though the cost is relatively low, buying the car outright is not always the best option. In fact, most Brazilians opt for financing when purchasing a vehicle.
THE financing It is a line of credit that financial institutions make available for the purchase of high-value goods or services, in this case, cars. In it, the bank (or financial institution) basically buys the car on behalf of the person financed.
In turn, the person repays the amount in monthly installments, paying the agreed interest and fees along with them. In addition, financing usually includes a generous down payment, with the rest of the amount being divided into several installments.
The great thing about financing is that the owner can purchase the vehicle immediately, without needing to have all the money up front. However, the total amount that he will have to pay is greater than the value of the vehicle, due to the interest charged.
Introduction to No Down Payment Financing
Generally, customers seeking financing tend to make a generous down payment on the value of the vehicle, which in addition to reducing the amount they will pay in interest also provides the bank with more guarantees that the amount will be paid off.
However, some companies offer financing without the customer having to make an initial payment to purchase the car. Therefore, the entire amount is paid in installments over time, but with higher interest rates, due to the increased risk for the financier.
Right off the bat, this change makes approval more difficult, but when you have a negative credit history, this process can become much more complicated, but it is not impossible.
Other Financing Modalities
In other words, although it is viable, for a person with a negative credit rating, traditional financing can actually create a barrier between them and their dream of owning their own car.
Fortunately, there are other ways to finance a vehicle, each with its advantages and disadvantages.
THE consortium, one of the most popular, is the planned purchase modality where the interested party contributes with other people to a common fund, used to provide participants with a letter of credit to purchase the vehicle.
In addition to not requiring a down payment, it has the lowest costs, since there is no interest to pay, only the administration fee. On the other hand, it can take a long time for the credit to be considered.
Already the rent It is recommended for those who do not really need to own the vehicles, such as app drivers and tourists. By paying a fixed monthly amount, the person can get a car right away, without having to worry about things like documentation, maintenance or keeping the car up to date.
And finally we have the leasing, a modality that has been growing a lot. It is exactly the same as renting, except that at the end of the contract the customer has the option of purchasing the vehicle considering the installments already paid.
How to Get Financing?
When taking out a loan, regardless of the type, the steps are very similar: the person contacts the financing company, runs a simulation to check the amounts, installments and fees and finally sends their proposal.
If approved, all he needs to do is complete the paperwork, pick up the car at the dealership and start making monthly payments.
It is important to note that late payments will incur interest and fines. Furthermore, in more serious cases, the person may end up losing the vehicle.
Step by Step Guide to Financing a Chevrolet Onix through Leasing
But if you are having trouble financing your car with a bank or financial institution because you have a bad credit rating, how about finance a Chevrolet Onix through leasing? Check out a step-by-step guide on the platform below Carflip, specialist in this type of business:
- The first step is to access the official website from Carflip;
- Click on “See cars and plans”;
- Choose the subscription model;
- And finally, fill in your personal and rental details.
After calculating the installment amount, you can send your proposal to the Carflip team, who will perform your credit analysis. If approved, just finalize the documents. And because it is a leasing model, after 6 months you can purchase the car and still receive a 25% cashback!
