We have already talked about when it is worth taking out a loan and today we are going to talk about another very important thing: how. Knowing how to avoid getting into future trouble and help you choose the best loan for you. So, let’s go!
Take care of your credit score
This is for every moment, even if you don’t need a loan, okay? It is the note you have in the market as a payer. The more certain you pay your bills, the higher your score and the better the loan terms are for you. Think of a colleague who borrows money. If you know that he pays everything on time and doesn’t let anyone down, you imagine that you are not at much risk of being defaulted on, right?
Banks and finance companies think the same way and tend to give lower rates to this type of person. As for that coiled friend of yours who lives going into debt all the time, you will think twice before lending, right? Well, banks and finance companies too, and because they are more at risk of not receiving, they tend to increase the interest rate and make this person’s life difficult. That is, do everything possible to keep your credit score in good shape.
Want to know everything about credit score? Click here.
Position yourself as a customer
I know that we use the expression “borrow” and already feel like the bank or finance company is doing us a favor. They are not. So, nothing to be ashamed of or shaking all over for borrowing. When you take out a loan with someone, you pay for that service. So, you are consuming a product like any other. That is, companies want more is that you take the product with them. Use it in your favor! You don’t need to be ashamed, bow your head or accept any proposal because you need it. Believe me: the manager in front of you is also needing to sell this product.
Keep an eye on CET
In the financial world, this acronym stands for C usto And fetivo otal T and is the sum of all fees, taxes, fees and insurance will be charged on the purchase of a financial product and, generally, are well escondidinhas in the fine print of the contract. In the case of the loan, some fees that may appear are: interest rate, credit analysis fee, registration opening fee, other administrative fees and the financial transaction tax (IOF). But, calm down, if you know the value of the CET you don’t even have to calculate and add one by one! To know the amount is very easy, it is mandatorily written in the loan agreement. Is it hard to find? Ask the manager to show you. That way, you won’t be caught off guard when payment slips start to arrive.
Calculate the value of the installments
Sometimes, we look at the rates and think: It looks small. Let’s sign a contract? But, they will not always result in installments that fit your budget. Before closing a loan, go there in your planning, put all your expenses fixed and decrease how much you usually receive.
This way, you can see exactly how much you can pay per month without getting yourself into debt. Knowing this amount, compare the portions of the simulations you made with payment for the same period of time. The ideal is to oppose offers from about three different places so that you have a good sample of your possibilities. Then yes, choose the option that works best for you. ?
Keep these tips with care and use all of them to rock the time to get a loan, combined?