Clipping of news on Brazilian Culture, Law and Citizenship
05/10/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Before taking out loans and shopping, the consumer should research and do some math. Get expert tips
The recent reduction in interest rates of various banks in the country should be considered carefully before being considered an opportunity to buy that coveted car, the house itself or some other product that was not in the schedule of monthly income. Experts advise to be patient, do the math and research a lot before starting a claim, especially if you are already in debt to other financing.
"First of all you have to think: what am I looking to buy adds value to my life? I need that? ", Says Reinaldo Domingos, educator financial DSOP. He said any debt financing leads, so if you can wait to pay any cash value is better. To get a credit conscious, Dominic says that we must make sure that the consumer will be able to meet its financial commitment.
For this, it indicates some items that should be considered before making the purchase, even considering the fall in interest rates.
1 - Make a family reunion to find out really what the family needs
2 - Perform a "financial housekeeping," ie, a diagnosis to find out what are the excesses that can be cut. Saving is always a good strategy for not rolling
3 - Establish dreams periods: one year, 10 years or over 10 and studying how much each
4 - Make a monthly financial budget, even a simple one, but considering all income and all expenses
Although there is a specific formula, the ideal is not to commit more than 20% of their income on finance, said Domingos
The new interest worth to you?
After thinking the tips of Domingos, the consumer who wants to borrow must verify that the interest rate cuts apply to him.
Last month, the Bank of Brazil and Caixa Economica Federal, followed by private banks, initiated reductions in interest rates. However, most Brazilians do not fit the profile of who will pay only the minimum rate, explains José Dutra Vieira Sobrinho, an economist at the Regional Economy of São Paulo (SP-Corecon).
The Bank of Brazil, for example, reduced the minimum rate of interest on the financing of vehicles (light) of 1.24% per month to 0.99% per month. However, the maximum tax rate for the financing of vehicles reaches 2.65% per month. "Who gets the minimum rate is one client that has an old relationship with the bank, who has money invested, savings bonds and has no other debts," he says Dutra.
Therefore, consumers should look at the rate that applies to your case, when searching for funding, and to verify the possibility of getting lower rates in other institutions. Itaú, for example, also cut its minimum rate to 0.99% per month for the financing of light vehicles. In this same item, Bradesco reduced the minimum rate of 1.35% to 0.97% and 0.98% for cash a month, the same percentage of HSBC.
Villains
Although the vehicles and the house itself always come to mind when it comes to getting a loan are the interest rates of overdraft and revolving credit card that most impact the wallets of Brazilians, in view of the economist Corecon. And as these two types of loans vary greatly according to the bank and customer, is always good to research before you take the money borrowed.
The revolving credit cards at rates from 2.49% a month, presented by Bradesco in the last rate cut by the bank, card issued in partnership with retailers and within 24 months, up to about 15%, depending the profile of the person.
Dutra's recommendation is to pay the invoice date of the card in full and avoid making the minimum payment, which only pushes the debt forward. For those who can not pay the full amount or who are pending with the overdraft, the best option may be to renegotiate the debt.
With interest rates low in some manner, such as personal loans, you can get some other type of loan, zero out the amount owed on the card and pay benefits in another category of credit with interest milder.
All this must be spoken with the bank manager or even negotiated with other financial institutions, depending on the cuts made by each of them, from surveys of rates specific to your profile, assesses the expert.
Mortgage
In the housing category, the time may be right to start funding, according to Claudio Goncalves, professor of Risk Management MBA Business School Trevisan.
But he and other experts emphasize that before seeking credit also must make an assessment of the financial situation. If you are already in debt, it is better to wait.
For those already with plans to buy the house itself, however, "this is the opportune time. The trend is that rates may fall further later this year, "he says.
Examples of lower rates is a CEF, whose interest charged for properties with values up to r$ 500,000 dropped from 10% to 7.8% per annum plus TR (Reference Rate), depending on the customer's relationship with the bank.
If the buyer decides to take the opportunity, and to evaluate your current financial situation it must also bear in mind that will create an appointment for years, says Gonçalves. It will take more attention in the organization of the accounts not to lose control.
It takes, for example, that consumers are more conscious about their accounts and on credit in general, says financial educator Domingos. "Many people do not care about the interest, if the provision can only see it in your pocket or not," notes Professor of Trevisan. For this reason, they can pay much more than they should in any good.
Before taking out loans and to launch various shopping, experts recommend also seeking more information on the subject of financial education courses, books or the Internet. Several organizations offer free lectures, personal finance, as the Bovespa and Procon. Moreover, banks and flags of credit cards also have sections on their websites that teach how to organize, manage accounts and take credit consciously.
Source: G1 News
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This article was translated by an automatic translation system, and was therefore not reviewed by people.