When it comes to the acquisition of a car, there are those who have the necessary means to do it in cash, that is, paying the total price of the car for one.
Acquire the vehicle of their dreams
But there are also those who do not have so much liquidity and do not want to continue taking buses but have once and for all, their own mobility.
In Colombia there are several options for those who wish to acquire the vehicle of their dreams and then we will present them for you to make your own decision:
Here the buyer does not have to worry about anything other than choosing a good model at a good price. You have the money to buy it and forget about any kind of extra payment. It is true that with this option saves interest, but it is also quite complicated to get to collect so much money in a short period of time.
2. Auto credit:
It is the classic way to acquire the vehicle you want. The bank enters to take center stage and, in exchange for the payment of a down payment, it grants the remaining money to buy the car. Thus, you will return the money granted plus interest month by month. Ideally, you will be able to save a down payment that is not less than 30%, so the credit you will request will be less and not pay as much interest. The key in this option is to compare all financial institutions to find out which one offers the lowest rate and most benefits.
3. Leasing or leasing
Through a contract, the lessee is granted full use of the property, that is, the car, for the monthly payment of certain installments. These fees cover both the use of the good and expenses related to the purchase. Once the contract is over, the user can decide whether to buy the car at the price agreed in the contract or extend the contract for another time. It usually works when you think it is difficult to get a credit for your history.
Self-financing works when you want to pay for your car with minimal interest and have no problems with waiting. Groups of a certain number of buyers are assembled, who monthly pay a fee for the new car. Each month (or specific period) they meet and a certain number of cars are delivered by auction, score or by canceling the total price of the vehicle. The ways in which the cars are awarded will depend on each company. Unlike credit, it has no down payment, but a registration fee; the disadvantage is that you will not be able to use the car until you obtain it by any of the mechanisms, which takes some time to occur.
There are so many ways that everything will depend on what your current financial situation is.