Good Credit currently has the lowest average interest rate on the market for vehicle financing.
Banco Good Credit, which is relatively new to Brazil, is already among the largest banks in the country when it comes to vehicle financing. What stands out most in Good Credit is the average interest rates adopted by the bank, which are currently the lowest in the market.
What are the average interest rates?
According to information disclosed by the Central Bank of Brazil, Good Credit has the lowest average interest rate in the market, offering interest of 1.85% per month and 22.20% per year.
Comparing the rates applied by Good Credit and Caixa Econômica Federal, check the impact of interest on the final value of vehicle financing.
Considering a vehicle of R $ 25 thousand, with entry of R $ 5,000 and payment term in 36 months (three years), check the result:
Banco Good Credit (1.85% per month): R $ 27,571.68 x Caixa Econômica Federal (1.97% per month): R $ 28,111.68.
The difference is $ 540, not counting the amount of other fees charged by institutions, which may change the final amount of financing.
What are the conditions offered by Good Credit for vehicle financing?
Good Credit provides auto and corporate car financing. In both cases, the customer must be or become a bank account holder, which prevents the user from paying the registration fee.
In the case of individuals, you must present documents such as ID, CPF and proof of income and residence. The bank does not state which documents must be submitted by companies (legal entities) to apply for financing a vehicle.
There are two types of financing offered by Banco Good Credit, namely: CDC (Direct Consumer Credit) and leasing.
Learn more details of financing plans:
– CDC Financing
Available to both individuals and companies. It serves to finance up to 100% of the value of commercial vehicles with a payment term of up to 60 months (five years).
– Super Auto
Available to individuals only. It finances new or up to 10 year private vehicles with payment terms of up to 60 months.
Available to individuals when buying commercial vehicles. Payment terms range from 24 months (two years) to 60 months with fixed installments debited directly from the customer’s checking account. In this model, the car stays in the bank’s name until the debt is fully repaid.
On the website, Banco Good Credit does not inform the rates that are charged by the bank, so check this information before closing a deal with them. Generally, banks charge to change registration information, which is not necessary at the bank, since financing can only be done by account holders, among other charges that may be made are, for example, the change of car before the end of payment or the transfer of debt to another buyer.