Usually, we look for the simplest way to negotiate a debt that we have, saving as much as possible. One of the ways to get the loan to settle accounts is, for example, by Consolidation a vehicle. But here in the Low Interest, you will find that yes, it is possible to consolidate an alienated car.
Consolidation an alienated car can be an alternative to relieve your wallet.
What is Vehicle Consolidation?
In most banks and lending agencies, a form of loan repayment guarantee is being requested. One such way is to consolidate your vehicle.
Therefore, the car becomes the guarantee of the payment of the credit. If the negotiation is not followed, the bank or lending agency is entitled to take possession of the vehicle.
What does Alienated Car mean?
We say alienated vehicle, the one whose total payment has not yet been made. In short, when a partial purchase of a car is made, it is sold in the bank. If it is not removed, the bank can pick up the car for you.
However, there are several procedures that can be performed with alienated vehicle, such as sale and purchase, and even Consolidation.
Yes, it is possible to consolidate an Alienated Car. But it’s worth?
If you have any other debt that must be paid immediately, or you can not pay the monthly amount of your alienated vehicle, know that Consolidation can be an interesting alternative.
However, there are some questions that should be well understood before checking whether or not it is worth Consolidation your car:
- It is not every bank that accepts this type of loan. Therefore, it is recommended that the first bank to be sought be responsible for the alienation of the vehicle. In this way, it is easier to guarantee even a reduction in the value of the monthly payments, through negotiation. But certainly there will be adjustments in the interest rate;
- The limit of the amount that can be borrowed is defined by the total value of the vehicle. Therefore, if your car is valued at R $ 35,000 by the FIPE Chart, this will be the maximum amount you can acquire through the loan;
- How much is missing to finish paying the vehicle will be a part of the amount borrowed. Let’s take the example of the car from the previous topic, imagining that it has been negotiated in 30 installments of R $ 1,000, with R $ 5,000 in entry.
In that case, if only 20 installments of it have been paid up to the time of the loan in the total value of the vehicle (R $ 35,000), R $ 10,000 must be used to remove the vehicle.
Thus, it is of utmost importance to be verified how much is still due in the payment of the car and how much it is necessary to take of loan, to avoid unpleasant surprises when having to pay the debt and to use only the money that remains.
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