There are many credit options in the economic sector: there are financings, consortia, loans… But refinancing is also worth considering.
Refinancing is used by some people as a way to pay off debt or make some investment. This is a type of credit that involves an asset in guarantee, which can be vehicles or real estate, or payroll loans, where the guarantee of receipt is total, because the installments are directly discounted in the payroll.
Have you considered refinancing? Read the post and see what refinancing is and how it can help you!
What is refinancing?
This is a way of getting credit, which is intended for consumers who already have a payroll loan in progress and those who own assets and are willing to give them as collateral.
In short, it can be said that this is a loan usually made to repay an existing debt or when the borrower offers a good in his name as collateral for the operation.
It is worth mentioning that refinancing is done through financial institutions and also through online financing platforms.
What are the types of refinancing?
Let’s take a look at each type of market:
The person must have a vehicle that is already in good repair. He will be alienated in the name of the institution that performed the operation.
The total borrowed can reach up to 80% of the vehicle value (FIPE Table) and the payment can be divided up to 60 months.
Companies also often refinance to get working capital for their operations. Also available to individuals.
Interest is low and up to 50% of the property with payment terms of up to 180 months can be released.
In some cases, it is possible to get loans of up to $ 1,000,000.00.
To refinance loans, the person must have paid a minimum of 40% of the contract that was agreed.
INSS withdrawals and pensioners as well as Public Servants get more money by renewing payroll loans on their behalf.
How to choose the best institution for refinancing?
With digital evolution, the internet has become a very effective channel for performing different operations. It decreases bureaucracy, is more comfortable and allows you to make simulations of values to get the precise idea of how much can be borrowed, what the value of each installment and how long the refinancing will extend.
There are institutions that operate over the internet with total security, working even in partnership with other renowned institutions.
The important thing, before hiring the services, is to do a comparison research, evaluating the interest rates charged, the incidence of other charges, the installment terms. Of course, the lower the interest, the lower the debt.
The costs involved in refinancing can be valued using the total effective cost, or CET. The institution has an obligation to provide the CET to the client, as this will understand the variables that are composing each parcel.
To get these results, just make the simulations on the website of the institution itself.
You will still need to do a credit analysis. While the dirty name is not necessarily an obstacle to refinancing, some institutions may charge higher interest rates to people with CPFs.
What are the solutions offered by Finance Everything?
Finance Everything, as its name implies, offers different types of credit, such as vehicle and real estate financing and refinancing, personal credit, consortiums and insurance.
To release the money, the person will have to basically follow 5 steps:
- Filling in the register;
- Credit analysis;
- Signature of the contract;
- Loan Release.
Contact our specialists to know in detail all the products and still ask your questions. Request contact now.