Automotive Credit for companies and individuals: What sets them apart?

Today there are hundreds of options available regarding Auto Credit . Before hiring anyone, it is good to know that it is a long-term commitment (almost always greater than three years), in which all the conditions, aspects and scope signed must be met. Those who are looking to renew their vehicle or want to have their first car, should pay close attention to the offers that regularly break in, both in banks and financial institutions.


Credit security

Credit security

According to specialists, it will always be better to access a bank since it has more regulation, interest is lower and the repayment time is longer, with lower monthly fees. On the other hand, financial institutions not only offer less money and high interest rates, but they also do not offer the possibility of choosing between different Auto Insurances . The positive is that the requirements are not as many as in a bank.

When comparing the different credits that are known to buy a car (and also for any type of loan), the following aspects should be considered: the contract, the statement, the cover page, the information offered on the official website and the treatment with the client (by phone, email or in person), among others.


Be careful of traps

credit trap

It is necessary to be very careful with the “traps” or the “small letters” of the signed documents since they can give the inclusion of another product in the entity, the collection of extra interest in advance of quotas, the installation of electronic devices in the vehicle to monitor it until the loan ends or the sum of collection costs for late payments.

If you have a company, it is easier to get an Automotive Credit since the guarantee is the company itself. In many cases, a complete fleet of vehicles is renewed or purchased, thus facilitating financing. However, this does not mean that an individual cannot access certain benefits for wanting to buy a single car, but rather that he should analyze more options – unlike a business loan that in many cases already has a pre-agreement.

In Lenders Bank, you can simulate your Automotive Credit for free and without leaving your home. Enter our Credit Comparator and choose the most convenient option on the market!

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