For those who are thinking about buying a car, the car loan for New Cars has a lot of potential to be a good way to acquire the first vehicle,

But, when we analyze the loan as a whole, does this still hold true? This is precisely the question we will try to answer throughout this article.

To do this, there is nothing better than analyzing the main pros and cons, as well as checking the main modes of use, so follow this article carefully.

Why we recommend car loans for New Cars

There is still a long way to go before we can finally find out if this is a loan that fulfills its purpose, but the first step is to check what makes it different.

In this case, the car loan for New Cars differs from other alternatives in the same category, mainly due to the amounts offered.

Which, at around 1 million Rials, allow the purchase of a wide variety of vehicles, which is perfect for those who want to start driving in the best way.

However, this is not the only feature that the car loan in question has in its favor, given that it has integrated insurance.

Where beginners can purchase a car without having to take out a loan, saving money and patience.

Furthermore, applying for a loan without having a driver’s license is completely possible, you just need to present a first-degree relative as a guarantor.

What can I use the New Cars car loan for?

Understanding the main differences between the loan in question already shows that its use will be much broader than imagined.

Which is actually what happens, considering that we have more ways to use it than just buying a vehicle, making it a very flexible service.

Of course, all uses revolve around the purchase of a car, but there are ways to shape the use of the auto loan in question.

Therefore, it is very important to know the main ways of using the credit service in question. To demonstrate this, we have selected two alternatives, which you can check below.

Purchase of a pre-owned vehicle

First, we will show you a method of use frequently used by drivers to save a lot when buying a car.

As you can imagine, buying a used car is much cheaper than going to a dealership to buy a brand new car.

However, despite being a good way to save money, it is important to make it clear that this may not be worth it for those who are applying for their first car.

This is because, in order to make a safe purchase, it is important to have a good understanding of how the vehicle works, identifying problems that could compromise its useful life.

So, if you have this experience, this purchasing model, combined with the car loan in question, can save you a lot.

Car credit application without a license

Just as many drivers prefer to buy used cars, in order to save money, there are those who opt for a strategy aimed at practicality.

Buying a vehicle before even getting your license can be a way to avoid headaches, first ensuring you have the most suitable car and then worrying about the bureaucracy of getting your license.

This usually happens to those looking to take advantage of a great promotion or even just take advantage of a period of low car prices.

Not all car loans allow this, but this is one of the main features of the car loan for New Cars.

To access credit without being qualified, you just need to meet a very simple requirement, being necessary to present a first-degree relative as a guarantor.

Advantages of Auto Loan for New Cars

One of the most fundamental steps in applying for the car loan in question is to check its general characteristics.

This includes both its advantages and disadvantages, but initially, we provide the main advantages in the following list:

• Access to credit without qualification
• Up to 750 Rials of credit
• Simulation on the official website
• Payments in up to 60 installments
• Completely online credit application
• Payment 

Disadvantages of Auto Loan for New Cars

Even though you may have liked what you saw in the advantages of the car loan in question, it is still important to check what its disadvantages are.

Where, despite offering credit to customers without qualifications, which makes it more accessible to certain customers, it continues with very strict income requirements.

Therefore, candidates without a good score, or with a history of defaulting on payments, may find it quite difficult to obtain approval for a loan application.

How is credit analysis done in car loans for New Cars?

One of the steps that scares candidates the most is the credit analysis, as this is the stage responsible for the majority of application rejections.

At this stage, the bank evaluates the candidate’s credit score and monthly income. The more points and the better the monthly income, the greater the chances of approval.

This same form of analysis is used when applying for credit cards, personal loans, financing and many other credit services.

Is there a maximum and minimum auto loan amount for New Cars?

Buying a car requires the buyer to pay very high amounts, even if we are talking about buying a semi-new car.

Therefore, the car loan for New Cars needs to present very high amounts, to be able to adequately meet the user’s demands.

It is precisely for this reason that it has values ​​of up to 750 thousand Rials, which can be used to purchase vehicles.

The payment term for this credit service is in line with this value, being up to 60 months, allowing for comfortable installments for your pocket.

Want to apply? Learn how to get a car loan for New Cars right here

Do you want to apply for a car loan for New Cars? To learn how to do this, just click on the button below, where we will show you the steps to become a candidate.