What is the best loan: Payroll, with guarantee or credit?
May 7, 2019
At the time of an emergency or to get out of the choke a good alternative may be to take out a loan, preferably with low installments and reduced interest, that allows you to organize your financial life.
But remember: you can not abuse! At times the loan may be a great, or the only, option, but it should be done with a lot of planning.
Consigned, guaranteed, crediário, are so many possibilities that it is difficult to decide which is the best alternative. So stay tuned, we’ve put together the best tips and information to help you with this important choice.
To get started, let’s get to know the three loan modalities better:
In this modality of loan the discount of the payment is done directly in the salary or if it is the case, in the benefit of the social security, of that contracts.
All major financial institutions offer this kind of credit and their advantages are many for both parties. As the risk of not receiving the payment is practically zero, the banking institutions can offer the lowest interest.
In fact, payday loan is the form of loan that offers the lowest interest rate on the market. However, there is a limit to the payroll loan, it can be done in up to 72 installments of payment and at most on the value of 30% of the contractor’s income. So it is not an option if you need high values.
Anyone who is already in debt should be careful when considering borrowing this type of loan. Since the discount is straightforward and there is no means of not paying, even those who have the name registered in the SPC or Serasa can hire you, this leads many people to incur debts that can put them in trouble.
Loan with guarantee
The secured loan was not widely used, but it is in steady growth in the country. In it it is necessary to give a movable or immovable asset as a guarantee of debt. When you need a lot of money, it is the most appropriate mode. It is possible to borrow up to the limit of the value that the asset given in guarantee is evaluated and the term for payment of installments can reach 30 years.
The interest rate of this modality is not so high because the financial institution has the good as collateral, but it is necessary to be careful with fines and monetary restatement provided in some contracts.
Before opting for this type of loan, you will need to have a very efficient financial planning. If for some reason you do not pay the installments, the risk of losing the property is very great. If it is a mobile asset, the risk is even greater, because in addition to losing you can continue to owe. This happens because unlike real estate, the mobile asset loses value with the passage of time, so it can happen that the financial institution takes your car, for example, take it to auction and the amount obtained with the sale is not enough to (judicial officer, lawyer, auctioneer) added to the value of the debt.
Loan per loan
The credit is called the direct credit to the consumer, can be offered by financial institutions or directly by merchants. As it is the modality that presents the most risks to who offers it, it is the one that has the highest interest rate. It is very common to use the store primarily for the purchase of appliances. The term to pay in this modality usually revolves around 10 to 48 months.
By the high interest rate is a credit modality that should only be used when there is no alternative. If this is your case, remember that the higher the number of installments plus interest and monetary correction will be added, which may make payment difficult.
After all, what is the best mode?
The answer is very private and depends a lot on your situation. Each of the modalities can be the best or the only one for a specific situation:
– The payroll loan is usually the lowest interest rate and is often the best option. However, it does not help self-employed professionals who have no salary and do not receive benefits from social security and those who need high loan amounts.
– In the secured mode it is possible to obtain higher amounts borrowed with a longer term, but it is necessary to have a movable or immovable property to carry it out. It may be the best alternative when the amount received is sufficient to organize your financial life and your good will not devalue to the point of bringing you loss.
– The credit, despite having the highest interest rates, is the only alternative for those who have no assets, and do not receive payroll.
You need to make sure you need the loan and choose the mode most appropriate to your specific situation.
With the right loan it is possible to organize your financial life!