In the midst of financial difficulties or even to carry out some plans as a new business, getting loans to reorganize finances and recouping the budget is an outlet to consider. To make a good deal, simply borrow consciously.
Listed below are 4 major mistakes made by Brazilians in borrowing money. By avoiding them, it is possible to use resources to organize finances and, in turn, to make dreams come true. Track and write down the information!
1. Failure to assess loan need
There are still many Brazilians who act on impulse and borrow unnecessarily. A big mistake, as this is a negotiation that will compromise part of the budget. In addition, it involves commitment to financial institutions.
Before you get a loan, list your expenses, income, and debt that must be renegotiated. Evaluate the need for hiring or if you can control the budget without the extra amount. Also be very clear in your mind what value you need to hire so you don’t get more money than you need.
2. Do not simulations
If you really need a loan, your first action should be value simulation. Researching and comparing conditions are essential ways for you to hire the best offer.
Many people turn first to their banking institution, figuring that the manager whose close relationship will offer the best hiring options, but this is not always the case. Before closing a deal with your bank, look for alternatives.
When you simulate with competitors, you increase the chances of lowering interest rates and hiring one institution will try to cover another’s offer. On the GuideBayment website and in the app, you can compare offers from various institutions and online hire without leaving your home.
3. Do not search business data
It is well known the high number of scams and pitfalls that exist when it comes to lending, but there are still people who believe in tempting conditions for easy credit. This does not exist. Always be wary of surreal proposals that differ from other market proposals.
A big mistake is not to search the date of the financial institution which is offering the loan to only institutions registered with the Central Bank can perform this type of transaction. The Central Bank itself provides a consultation system that lists all the institutions authorized in the country, a tool that can help you find reliable institutions.
4. Not analyzing interest rates
When hiring a loan, interest is expected as part of the transaction. However, depending on the type of loan and finance, the interest charged may be lower. Another important point: in addition to the amount made available, one must pay attention to the monthly percentage of interest and the total effective cost of operation (CET), since there is also the incidence of management fees. Yeah
Business loans generally offer better terms when compared to personal credit. However, if it is not possible to contract a business loan, consider options as proposals that accept real estate and auto as collateral. But beware: this is an option with a high level of compromise. Remember that in these cases valuable assets are involved so that you get the lowest interest rates.