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Vehicle as a guarantee of debt: why hire a company?

The indebtedness scenario has been recurrent in the routine of most Brazilians. The consequence of this adversity is the search for quick solutions, however harmful to the financial health of both the family and the business.

If you are thinking of giving your vehicle a debt guarantee, we suggest that you carefully analyze the alternatives present in the market.

It is not uncommon that, in their eagerness to resolve the issue, people turn to friends or loan sharks for loans. Know that this choice is not usually the right one!

Therefore, in this post, we will highlight the importance of seeking these solutions in companies that operate in a solid and consistent manner in the market. Continue reading and understand better!

Why shouldn’t we take a loan from loan sharks?

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Moneylending is a very risky alternative to obtaining a loan. Because it is a practice that is outside the market regulations, it often causes even greater losses to the policyholder.

The loan made by loan sharks is a crime against the financial system. However, indebtedness and the difficulty of obtaining credit approval have led the consumer to accept high-interest rates that can reach 100% of the amount borrowed in this case.

In addition, as we have already highlighted at the beginning of this topic, moneylenders operate in parallel with the financial market, which allows them to create their own regulations. To make you even more convinced not to resort to this option, learn about some recurring practices in this segment:

  • the guarantees requested are greater than the amount borrowed;
  • impossibility of debt renegotiation;
  • collection methods are often violent;
  • unilateral changes to the agreed terms may occur;
  • inability to file a lawsuit to review contractual terms.

No matter how difficult it is to get a line of credit compatible with your family or company budget, it is not recommended to take loan from loan sharks. So research and carefully analyze your options before making any decisions.

In order to provide more information on the paths that must be followed to pay your debts safely, we recommend that you check out the sequence of this article. In the next topic, we will work on another type of loan that needs to be avoided.

Why isn’t it healthy to get money from friends?

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“Friends, friends; separate business ”. The saying teaches us the importance of not mixing friendship with business. Given this, borrowing money from a friend can put into question a relationship that, many times, started in childhood.

From the perspective of legality, it is perfectly feasible to make a loan between individuals. However, in order to avoid questions about the suitability of the negotiation, it is recommended to adopt some precautions. See some of them below:

  • the interest charged cannot exceed the constitutional limit of 12% per year;
  • the monetary correction must be linked to some official index (usually the IGP-M);
  • a contract must be drawn up with forecasts that benefit the parties equally;
  • the guarantee provided by the policyholder can be either a vehicle or a property.

Even though legal issues are observed, we know that the risk of default is considerable compared to obtaining a loan through a financial institution. In addition to financial losses, this mandatory non-compliance can certainly compromise friendship.

So, if you need to pay off your debts with the overdraft or get working capital for your company’s activities, keep in mind that there is a range of other possibilities. Therefore, follow the last topic of this article and discover the ideal solution.

Why bet on a company when applying for a loan?

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In the previous topics, we highlighted the loan modalities through the practice of loan sharking, as well as the possibility of obtaining a value to resolve late payment by suppliers through the modality between individuals. Learn now why we recommend taking out a loan with a company.

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