A dream for most Brazilians, buying a car can be more difficult than expected. Due to the high cost of even popular cars, many people can only buy their first vehicle using specific lines of credit provided by financial institutions.
However, if your credit score is bad and you are unable to file a claim, this process becomes much more complicated. But if you find yourself in this situation, there is no need to worry. To help you, in this article we will teach you: How to finance a Mobi without a down payment even if you have a negative credit rating!
Where to start?
If you intend to buy a car and financing is your only option, like most Brazilians, there are a lot of bureaucratic processes that you need to be fully aware of.
However, the situation becomes even more serious when the person has a negative credit rating and does not have the necessary amount to make a down payment on the car.
For those who don't quite understand, being negative means that a person's CPF is registered with a credit protection agency such as SPC or Serasa because of unpaid debts.
Obviously, companies that work with credit intend to receive the money lent back and with interest, because that is how they make money. For this reason, having a bad credit rating significantly reduces the chances of credit approval from traditional banks. After all, why would a bank lend money to someone who does not pay their debts, for whatever reason?
Even so, some financial institutions and institutions focused on this market offer alternatives, which even people with CPF restrictions can take advantage of.
Another point to consider is the lack of a down payment. Generally, financing requires an initial amount to purchase the vehicle, but some options allow financing up to 100% of the total value.
What to Evaluate Before Financing a Mobi?
If you are going to take out this type of financing, it is always important to evaluate a series of factors. After all, nothing is free in this world.
There are actually several financial institutions that allow finance a Mobi without a down payment even if you have a negative credit rating, but such ease usually comes at a financial cost to the customer.
Banks are even willing to give up the security of lending money to a person with a clean credit record and who can afford to make a down payment, but only if they earn more.
Financing like this will always have higher interest rates, which increases the CET (Total Effective Cost), which considers all costs involved, such as tariffs, insurance and IOF.
Keep an eye on the deadlines offered It is also important, since, in most cases, interest is calculated monthly and each extra installment in financing means that your vehicle has become a little more expensive.
Finally, after calculating all of the above items, it is time for the buyer to analyze their own budget, so as not to end up with financing that you can't afford or a car with an APR much higher than the market value.
Types of Financing Available
Now that you know what you should pay attention to when taking out a loan, it's time to check out what type of financing is available on the market.
And the most common thing for those who have a bad credit history and cannot make a down payment is credit. with guarantee, which uses an asset as insurance for the loan. Among the options, this is the one with the highest chance of approval and also has lower interest rates.
Besides her, the consortium is also quite popular, but it is not direct financing. Here, the customer plans the purchase of the vehicle and pays it off little by little. When the payments meet the requirements, the person can pick up the vehicle. Depending on the amounts, the customer may only pay the maintenance fees.
Some dealerships and financial institutions also work with financing for people with bad credit. Generally, approval is much faster than even secured credit, but, on the other hand, the fees and interest are much higher.
Step by Step Guide on How to Finance a Mobi
THE Fiat Mobi has been a sensation among urban transport vehicles, but to know how to finance a Mobi It is necessary to contact the creditor agent directly where you will carry out the procedure.
Each institution will have a process that the interested person will have to follow strictly to buy their car.
But if you want to know if there is an offer available for your profile, there is a much easier way. Just go to Fiat's official website and follow these steps:
- Access the Fiat Mobi website by clicking in this link;
- In the menu bar, click on “Buy yours”;
- Fill in the required data on the form, including name, email, CPF and car model and version;
- Select the dealership closest to you;
- Enter a message.
After some time, the person will receive an offer in their email and if they are satisfied, they can simply continue to finalize the financing. However, it is best to research prices elsewhere to find the best conditions instead of accepting it straight away!
