For those who dream of buying a car, but prefer to pay the installments quietly and then acquire the good, the consortium can be a good alternative.
So today we are going to talk a little about how the car consortium and how to hire this service to buy your car.
How does the car consortium work?
O car consortium, as well as in any other type of consortium, such as a house and others, the customer participates in a group of people to acquire a car. For example, this group will be divided according to the value of the consortium paid and at the end of the payment you will be able to get the car.
However, in a consortium it is common for a person from this group to be drawn and win the car even before finishing the payment of the installments. That way, you just need to finish the payment or give a value to finalize the consortium.
The division of groups is made by the managing company responsible for the consortium. In these groups there are people who want to buy a zero, semi-new car, motorcycles and other types of goods.
How to apply for a car consortium?
to make a car consortium, you can look for your bank or even a financial and insurance company that offers this type of service. Then just choose the payment term and amount of installments.
Then you have to pay the consortium every month and if you are contemplated and get the car before the end of the contract, just choose to finish the payment or pick up the car.
But it must be remembered that even with the removal of the car, it is still necessary to pay service fees from the administrator responsible for the draw.
What are the advantages and disadvantages of a consortium?
The main advantage of car consortium are the low costs, because in the consortium, different for example from a financing in which, in addition to the installments, it is necessary to pay the interest of the service.
but not car consortium, the customer only pays the value of the installments and a fixed fee due to the management of groups and raffles.
In addition, another advantage is the flexibility of the car consortia in which installments are cheaper and fit your budget.
The main disadvantages are the delay to acquire the good, that is, to be contemplated in a consortium draw, you have to wait.
Different from financing, where there are options where the customer can use the car while paying the installments normally.
And another disadvantage is the high risk of default, as interest is not charged on a car consortium and this can cause many not to commit to paying correctly.
