The Brazilian is in love with cars. Having your own car is a goal of most people and buying the dream car is a goal that many want to achieve. But buying a car is not easy at all.
It is essential to prepare financially and remember that buying a car will generate some new costs, such as payment of IPVA, insurance, periodic maintenance, among others.
Are you determined to realize the dream of buying or changing cars? Have you considered using the letter of credit to buy a car? Keep reading this article and see more about this possibility!
What is a letter of credit?
The letter of credit is nothing more than a contemplated consortium. In other words, a letter of credit is a document that gives you the right to use a certain financial amount to acquire a good. The most common types of consortia are real estate and automobiles.
It is possible to be contemplated before finalizing the installments, competing for the monthly draw. In this case you will be able to refer the letter of credit release procedures which will entitle you to purchase the chosen good. This flow is valid for real estate, vehicles and service consortium.
Importantly, in the case of automobiles, it is possible to make a direct consortium with the manufacturer. The problem with this alternative is that when the letter of credit is covered, you can only buy one car from that automaker. Therefore, it is extremely advantageous to choose companies that specialize in this industry and can use the letter of credit to buy the car you want.
Can I buy an already covered letter of credit?
Yes, this is a legally prescribed procedure, but you need to pay attention to a few points. The reliability and originality of the letter of credit should be verified by contacting the Administrator and certifying its existence and its contemplation.
It is noteworthy that the Consortium Administrators cannot, due to legal requirements, work with contemplated quotas. Letters of credit are sold by the consortium itself or by independent companies. By checking these points, you will be able to easily purchase a letter of credit and be able to use it safely.
Is there any risk?
There are risks to using a letter of credit to buy car or property. It is important to remember that the administrator may set some conditions for the use of credit and it is crucial that you have knowledge.
Moreover, this type of alternative is liable to fraud and scamming, which will surely put your objective at risk. Therefore, it is essential to have companies that are reliable, avoiding major problems.
It is very important to ensure the security of your investment and the certainty that your dream will come true. It is essential to certify that the product to be purchased is within the guidelines of the Astro Bank and is 100% legal.
How to use a letter of credit?
First, it should be noted that the amount of the letter of credit is not transferred to your account. After the draw, the person must choose the model of car or property and inform the administrator, who will make the purchase process.
If the vehicle or property you choose is more expensive than the value of the letter of credit, do not despair. You can use the letter of credit to purchase it, only needing to supplement the value.
The opposite is also possible. In this case, since the value of the asset is smaller than the letter of credit, the remaining amount can be purchased and used to write off benefits in reverse order, reducing the outstanding balance.
Regardless of the type of car or property you choose and its value, it is crucial to choose specialized companies that are quality, avoiding turning your dream into a nightmare. There are already platforms in the market that work with consortia, auto insurance, home insurance, life insurance and also with financing.
Certainly, this will be a great way to use your money responsibly, securely, and bring a good return. Think about it!
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