Can I Save Financing My Vehicle with Loan and Credit?

17 Oct

Check out the conditions offered and the average interest rates offered by Banco Loan and Credit for vehicle financing.

Loan and Credit is one of the most traditional banks in Brazil, founded in 1943. The bank is among the most important financial institutions in the country, due to its very competitive rates and conditions in the domestic market, including vehicle financing.

What are Loan and Credit interest rates for auto finance?

What are Loan and Credit interest rates for auto finance?

According to the Central Bank of Brazil, Loan and Credit has the 2nd lowest average interest rate in the market offering rates of 1.88% per month and 22.56% per year.

In comparison with Banco Santander, which currently has the lowest average interest rate on the market when it comes to vehicle financing, check how much you would spend if you chose Loan and Credit and get a sense of the interest on the final value of a car loan.

Considering the financing of a vehicle that costs R $ 25 thousand, with entry of R $ 5,000 and payment term of 36 months (three years). Check out the comparison:

Banco Loan and Credit (1.88% per month): R $ 27,705.96 x Banco Santander (1.85% per month): R $ 27,571.68.

The difference is only $ 134.28, not including other fees charged by the bank, which may in this case change the final amount of financing.

What are Loan and Credit’s conditions for vehicle financing?

What are Loan and Credit

Funding can be requested by both individuals and companies. In the case of individuals, you must present ID, CPF, proof of residence and income. In the case of a legal entity, it is necessary to have the company’s CNPJ, as well as to register with the bank.

There are two types of financing offered by Brazil, the most common called CDC (Direct Consumer Credit), which is the most used in the market and leasing.

Check the conditions of each financing plan:


In addition to the amount of installments and percentage financed, you can also choose between CDC and leasing.

The CDC (Direct Consumer Credit) is the most sought after form and the vehicle is the guarantee for the bank, and can be withdrawn if the customer does not pay the benefits.

Leasing, on the other hand, is a lease, that is, the vehicle is in the bank’s name and cannot be sold or transferred until the contract is fully settled.

Loan and Credit’s rate is around 1.31% per month, which makes the bank in the Central Bank’s Top 10 of the lowest rates.