Clipping of news on Brazilian Culture, Law and Citizenship
08.24.2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Pig over currencies
Without open shop for resources, many Brazilians see the consortia in cars and buildings an exit to avoid the high interest rates of loans, plus a good choice of "investment" for those who have no discipline to save money.
However, in the opinion of financial experts, the choice can be positive only for banks and specialized companies in the segment.
In practice
For the aeronautical designer, Gabriel Kavalieris, 31, his first consortium was a great deal in 2010. He hired a letter of credit of R$ 30,900 to be paid in 60 months, with monthly installments of R$ 593,71. Management fee to the consortium, it paid R$ 5600.
Sao Jose dos Campos (SP), he had just entered a new job, did not want to pay high interest rates on financing and was willing to wait for the car raffle.
"I thought in the consortium due to the zero interest", he explains. But despite the concern with interest, Kavalieris was not as careful in comparing research of so-called management fees charged calls by the consortium. "I already knew by name a famous company in the business of my region and I direct them."
After a year, the designer made a very common arrangement among people who do not want to wait any longer for the draw of the goods in the consortium. He found a car with a value less than the letter of credit, was a used car from R$ 22,000, and used the difference as bid in the month. "I would do it again, for sure," he says.
The myth of zero interest
In the case of Kavalieris even fleeing from the high interest rates, car purchase totaled R$ 5600 fee plus R$ 8.9000 bid, or R$ 14,500, a figure that accounts for almost half of the contracted amount in the letter box similar to what occurs with car bank loans, where you pay almost double the car's value to the financial institution. Finally, he paid about R$ 35,600 for a used car from R$ 22 thousand.
In the view of the expert in financial mathematics and professor of accounting Insper, José Dutra Vieira Sobrinho, Kavalieris did not do a bad deal.
In the end, he ended up paying a rate of approximately 2.23% per month, in line with industry funding at the time.
However, an important question here is: the used vehicle that was actually purchased was worth R$ 22,000? "Or is R$ 22,000 on hand he would not buy a better car for the same price?" Said Dutra, noting that with the cash on hand is easier to get discounts etc.
Despite the final "happy" to Kavalieris, for the teacher, the consortium scheme is by far one of the most confusing financial products market. "And this bad compression worsens in contracts with real estate focus, where the term is much larger and administrative fees as well, based on the high prices of goods," he warns.
Brazilian jabuticaba
In assessing the coordinator of the Center for Studies in Finance from the Getúlio Vargas Foundation (FGV), William Eid, the consortium system is another Brazilian jabuticaba, which was created at a time when there was little credit available.
In the late 1980s until camcorders were sold in a consortium because of price volatility caused by inflation. It was a way to ensure the delivery of the product, since now and then they disappeared from stores because of price tabelamentos.
The example of the designer above makes clear another feature of the consortium, says the teacher, "people still believe in the myth of zero interest rates," says the professor.
"A year ago, a real estate consortium charged rates of 17% to 20% of the letter of credit. Where it is without interest? Has cost, but with a different name, "he says.
The consortium as an investment
According to Professor Eid, some people often see the consortium as an investment because they can not save themselves money.
"They are not required to put the same amount paid in the consortium in any financial investment," he says. In fact, according to him, paid to a bank or a company that specializes save your money.
On average, people wait 30 months to receive good contract in consortium, he said. In the meantime, the consortium uses the customer's money without paying income and still charges for its "management" of resources in the period.
"The Brazilian, in general, very badly handles the money," says Eid. Ideally, the person prepare a target of how much it will need to buy well and then given a little study which applications will yield more in the period it needs, he said. "Any application more worthwhile," he adds.
A path to financial education
According slightly more favorable strategist for individuals Bank Ourinvest, Mauro Calil, the consortium can be a gateway to a budget with scheduled debt. "I think it is the ideal option, but funding, for example, is far more harmful to the household bills than the consortium," he believes.
It is a way to spend the purchase in cash, defends Calil. "It's not perfect, it would be better to create a previous savings for the purchase of good," he says. "However, it can function as the beginning of a financial education process," he adds, as, somehow, one is separating certain amount to a personal goal.
Still, Calil not rule out the need for research by better management fees and the attention to detail of the contracts signed.
For him, the disadvantage of the consortium is not financial, but temporal, subject to the waiting period of contemplation or delivery of the goods. "A person can pay the consortium for years without enjoying the good, paying fees to the consortium in place to receive interest for its economy," he concludes.
Source: Survey
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This article was translated by an automatic translation system, and was therefore not reviewed by people.