The secured loan can be a great option for those who need credit with good interest rates
It is for unforeseen or emergencies as well as to take plans and dreams of the paper that exist the loans and today we will speak a little about them, in fact we will speak of a specific one that can be an attractive option for you.
Loan with guarantee
What comes to mind when you hear “secured loan”? Usually what we end up thinking really is what comes in fact to be secured loan. An arrangement where the applicant obtains credit by providing the financial institution with a good that guarantees that the loan payment will be made.
In the case of home mortgage (the most common type of loan we usually see) the loan applicant has guaranteed that he would pay the loan by giving his property. That is, the guarantee of payment of this loan is the property that will be “at risk” until the full discharge of all portions of the loan.
The secured loan is also known here as refinancing. And basically it is in fact a refinance where the borrower repays part of the value of the asset used as collateral once the amount requested is delimited by a percentage over the market value of the collateral. But do not worry, we’ll explain it better.
The market value takes into account in the case of vehicles the year and the model, the state of conservation and sometimes the FIPE table.
The FIPE table of the Institution of Economic Research Foundation determines the average, minimum and maximum value practiced throughout Brazil for a particular car model.
With the defined market value you should check what percentage the financial institution you have chosen can free you from credit. Some work with 50% of the market value, some with 70% and up to 90% of the market value of the good used as collateral.
When you apply for a secured loan, carry out a lot of research before you decide which institution will apply for the loan. This is because the valuation on the market value can vary and much from one institution to another as well as the maximum percentage that can be released.
As we said earlier some institutions may release a higher percentage than others and this is important when you need a certain amount of money.
The costs and interest rates of the loan can also vary widely, although they are lower than other credit modality such as personal credit for example. Interest rates on secured personal loans or collateralized loans are as attractive as consigned loans that are intended for a specific public (in this case, contract workers, retirees and pensioners) but it is still important to research to ensure that doing a good deal.
Today we will present to you a suitable institution that may be a great option for you when searching for a secured loan, to Porto Seguro.
Porto Auto, which is the name given to the loan with guarantee by Porto Seguro, which is an institution composed of more than twenty-eight companies and offers the most diverse services from consortia and more financial solutions.
Porto has more than fourteen thousand employees, sixteen thousand service providers, more than thirty thousand brokers and more than eighteen million customers.
With all the history of credibility Porto Seguro can be your next financial institution.
The loan with auto insurance
The secured personal loan at Porto Seguro is called Auto Credit and is also a type of refinancing. Through Porto you can get up to 70% of the market value of your vehicle.
Needing money for some unforeseen or urgent and unwilling to get rid of your good? The secured loan can be a great option for you.
Porto Seguro guarantees extremely attractive interest rates and up to 60 months to pay (the number of installments takes into consideration the year and the model of the vehicle). In order for you to apply for a loan with vehicle guarantee by Porto Seguro will require some prerequisites. Among them the car to be used as collateral must be new, be in good condition and be a vehicle removed.
Despite the requirements demanded by Porto, the insurer brings some benefits to its clients, mainly the clients who live in the city of São Paulo. For residents of the city of São Paulo, Porto works with the removal of documents at home, which can be a great pleasure for the client.
To apply for your loan you will need to complete the application proposal and send it to Porto directly or through a broker. Porto Seguro has more than 35 thousand brokers. After receiving the proposal, the insurer establishes the analysis period of one hour for individuals and up to 24 hours for legal entities.
With the approved proposal you or your broker will be notified about the documents that must be submitted for the effective release of credit.