Between idealizing a dream and realizing it, most of the time there is a long way to go – especially when it comes to achieving big goals . In this sense, financial issues are undoubtedly part of this path and need to be well evaluated.
So, if you are looking for big projects, but the main challenge is the financial part, know that secured credit can be an excellent alternative to shorten your trajectory.
As we will see below, this type of credit offers a series of advantages, especially when compared to other loan options available on the market and which do not depend on any guarantee.
Do you want to know what are the 6 main benefits of secured credit and how they can facilitate the realization of your dreams? Continue reading and check it out!
1. Interest is much lower
As guaranteed credit is a modality in which something is put in check for the payment of the debt, this means that the risks borne by the financial institution are much less than those borne in other modalities without this guarantee.
In practice, as the interest on a loan or financing is directly related to the risks present in the contract , in secured credit these risks are much lower, since there is a good that is offered as a guarantee, which can be used to settle the loan. debt.
But what does this have to do with the amount of interest, you might be wondering. In practice, everything! Just consider that lesser risks mean reduced interest. Thus, secured credit ends up being a very economical and strategic option to make your dreams come true.
2. You do not need to state the purpose of the money
Unlike what happens with financing, where you need to indicate and prove the purpose of the money, in the secured loan you have complete freedom. You can use the resources as you see fit and consistent with your needs.
So, for example, you can use secured credit to pay off debts, take a trip with your family, renovate your home or even invest in your own business. All of this without any limitation or need for proof.
Despite all that freedom, don’t forget that the collateralized loan, like any other type of loan, creates obligations and impacts on your budget . Therefore, it is essential that you know what to take into account in order to apply for credit more safely, how to plan accordingly, assess your future scenario and get to know your finances in depth.
3. Borrowing is simplified
Another very attractive benefit of secured credit is its simplicity in the contracting process. When opting for this modality, you will not have to go through complex credit assessments or forward a long list of documents and receipts to access the desired amount.
In practice, because it is a more reliable credit method for the financial institution, the process that precedes the release of money can be agile and practical, which helps you to reach your goals quickly.
At this point, it is worth mentioning that some institutions offer online loans , simplifying the hiring process.
4. Benefits are accessible
As stated, one of the positive points of secured credit is the collection of reduced interest, especially when compared to other types of credit. This factor also reflects in the way the contract installments are calculated. After all, if interest is lower, the value of the installments will also be .
In the same sense, as a guarantee is given to the bank for the settlement of the debt, the financial institution has the security to extend payment terms – and that is exactly what happens in practice.
That is, with this type of credit, you have the possibility not only to have access to higher values - which can be a great advantage when doing a renovation at home or starting a business, for example – as you will have an extended term for the payment, which means that it is much easier to establish a parcel that fits in your pocket.
5. You can use up to half the warranty amount
This is a benefit that not everyone knows about secured credit. Here, the big difference is being able to have access to a bigger credit, always depending on the value of the guarantee that is offered to the bank.
For example, if you intend to offer your car as collateral for the loan , which is valued at R $ 80,000.00 (eighty thousand reais), you may have access to a credit of up to R $ 40,000.00 (forty thousand reais) , this in a much more agile, economical and safe way.
6. Payment terms are longer
As already mentioned, since it is one of the types of loans whose risks are quite low for the financial institution, secured credit offers a number of advantages to you, the contractor.
For example, one of the main benefits of this modality is the possibility of requesting high amounts and, at the same time, establishing longer payment terms with low installments .
Thus, for those people who are looking for credit to start their goals or organize their finances, secured credit is one of the best alternatives available on the market. In addition to being flexible and simple, this is a very economical modality, serving well the needs of most people.
Finally, as we have seen, secured credit alone offers a number of benefits for you. However, guaranteed credit can offer complementary advantages . In addition to all the points mentioned, credit with secured property , which offers up to 60% of the value of your property, 45 days to pay the first installment and the possibility to choose between fixed and variable installments.