Loan and Credit Econômica Federal is one of the oldest and most traditional financial institutions in the country, founded in 1861 and is one of the most competitive interest rate banks for financing assets and loans.
Loan and Creditis currently in third place among the best rates for car finance. Despite having very competitive rates in the market, the institution is known for the poor quality of its customer service, which interferes a lot in the course of financing and is in a case to think, since a financing is a debt that lasts for some years.
Find out below the interest rates charged by Loan and Crediton a vehicle loan and see if it is a good option to finance a car with the company.
What are the interest rates offered by Loan and Creditfor vehicle financing?
According to data from the Central Bank of Brazil, the average interest rates charged by Loan and Creditare 1.97% per month and 23.64% per year, ranking 5th among the leading banks in the market.
Compared between Loan and Credit, which currently has the lowest average interest rate on the market, so you can understand the impact of interest on the final value of a loan.
Considering the financing of a vehicle that costs $ 25,000, with entry of $ 5,000 and payment term for 36 months (three years).
Cash (1.97% per month): R $ 28,111.68 x Santander (1.85% per month); R $ 27,751.68.
What generates a difference of R $ 540 between the values of the banks, the simulation does not include other fees charged in the financing.
What are the conditions offered by Loan and Credit for vehicle financing?
Loan and Credit provides vehicle financing to individuals and companies. In the case of individuals, you must present documents such as ID, CPF, proof of income and residence, and the DUT (single transfer document), in case of used vehicles.
The bank offers two forms of financing in three options. It operates with both CDC (Direct Consumer Credit) and leasing, in which case the car is in the bank’s name until the debt is fully repaid.