It seems like the beginning of a dream, but it can
all go wrong. Financing is one of the most sought after financial operations by
United State today, however it is also responsible for most citizens being in
default. Check out the biggest dangers of financing.
What is
funding?
Financing is nothing more than a line of credit
granted by financial institutions, in order to assist their customers in the
acquisition of a property or car.
Divided into several payment installments, the
closer the total amount is paid, the greater the installment received, due to
the percentage of interest.
High
interest payment
As mentioned earlier, financing has a high
percentage of interest, which in the long run can become a headache, especially
if you can't organize yourself well and end up having to delay the payment of
some installment. On average, for simple financing, the annual interest rate is
around 20.2%, according to data available from the CET.
Late payment
of installments
With late payment of installments, interest is
charged for each day the debt has not been paid, after maturity. The amount of
this interest varies a lot from one institution to another, however, this only
makes it difficult to pay your installment and can generate.
So what am I
supposed to do?
The best solution for those who dream of having
their own home and vehicle is to make a consortium or, in the long term,
organize them financially so that you can acquire your goods without stress and
worry-free nights. Having good financial health seems difficult, but if well
applied, they bring you very pleasant achievements.
Posted by: John Labunski!
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