Are you thinking about financing a car, but your Serasa score is low? Don't worry, we'll show you how finance a vehicle with a low score. So, follow our article to find out how it is possible finance a vehicle with a low score!
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Serasa Score
If you have already accessed official page of Serasa, you have certainly come across a screen where the famous “score” and your score appear. In this sense, the score is a way for the credit platform to measure a person's chances of paying their bills.
The Serasa Score is a score that ranges from 0 to 1,000. And it indicates the chances of a given profile paying the bills correctly in the next 12 months. The credit score is one of the items evaluated when granting loans, financing and cards.
Source: Serasa
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In other words, the platform was created to help banking institutions and the like to check whether a person is more or less likely to pay their outstanding debts on time. Therefore, if you are thinking about financing a vehicle, it is important to keep your score at good levels.
However, would it be possible to finance a vehicle with a low score? That's what you will discover in this article. But first, let's remember what financing a vehicle is. Follow:
How to finance a car?
At first, the vehicle financing It is one of the most common and used ways to buy a car or motorcycle. Especially when the person does not have the full value of the vehicle to pay in cash.
In this sense, opting for financing is a way of getting the borrowed money with a bank or credit institution and negotiate solely with them.
In other words, you pay the amount borrowed as many times as necessary, and pay the bank every month.
In this way, negotiations are carried out directly with the credit institution. Therefore, the dealership where you will buy your future car will have absolutely nothing to do with it. Well your debt will be with the bank.
Currently, to finance a vehicle, you need to contact the bank and request a proposal analysis. A good tip is to look for your everyday bank. Because they tend to offer more attractive conditions to customers.
Therefore, the amount financed and the way it will be done varies from person to person. Therefore, institutions use the Serasa score to evaluate the profile of the interested candidate.
Now that you understand what financing is, let's talk about how to finance a vehicle with a low score. Follow below:
How to finance a vehicle with a low score?
Previously, we said that banks use their score on score to assess whether you will be a good payer. Therefore, it is interesting to maintain a score above average.
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However, we know that many people, for various reasons, have a low score. But do not worry! Yes, there is a way to finance a vehicle with a low score.
Therefore, if you have a low score and would like to have your financing approved, then you can choose to offer a guarantee to the bank or credit institution.
In other words, it is the famous and already well-known entrance! This way, the bank feels more secure regarding the payment of installments. In this sense, your chances of being able to finance a vehicle increase.
Furthermore, it is also important to maintain a good relationship with the chosen institution. As we mentioned, looking first for the bank with which you already have an account is a very viable option.
Another important aspect is that you are up to date with your payments. request financing. Therefore, this factor can compensate for your low Serasa score.
Did you see how it is possible to finance a vehicle with a low score? However, it is important to highlight that this is not the only aspect that lenders evaluate before lending you money.
Therefore, always seek information about payment conditions, interest and other issues before close a deal.
Good luck!
Consult score by CPF
In principle, checking your score is quite simple and quick. To help you, we have prepared a step-by-step guide. See below:
- First, access the website Serasa official;
- Then fill in the requested data. If this is your first access, register for the first time following the platform’s instructions;
- Ready! As soon as you click “enter” your score will appear on the home screen.
