Best consortium options for you

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Know the best consortium options It is ideal for those who are looking to buy a property but do not want to pay the interest on financing.

With a consortium, it is possible to buy a good in a greater number of installments, and choose according to the value that fits your budget.

Today we will look at some of the main consortium options on the market, so you can know if your dreams fit into this alternative. Keep reading and check it out!

What is a consortium?

Getting approved for financing is not always an easy task, so those who cannot pay in cash end up putting off their plans for a new house or a new car for later.

However, the consortium promises to be the solution for this, since this purchasing method allows extended installments, affordable installments and zero interest.

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A consortium is a type of group purchase, in which people come together and make payments while waiting for a draw. In this way, in each period one of the participants is drawn and receives the letter of credit to purchase the good.

For this reason, the consortium is also called self-financing, since people with common interests come together to make the purchase of the asset possible in installments.

It is important to note that the consortium does not have interest, but it does have an administrative fee from the institution that offers it. 

Furthermore, the contemplation time is not usually known in advance, so, just as you may be the first in the group to be drawn, you may be the last and therefore take a while to receive the amount to purchase the good.

In any case, if you are studying other purchasing possibilities and have not been successful, it is worth knowing the best consortium options, as it may be a viable alternative.

Read also: Car rental: How does it work? When is it worth it? (consultacred.com.br).

What are the best consortium options?

As we saw previously, the consortium is a good option for those who want to get rid of financing interest, or even those who cannot get approval for this type of purchase.

Because it is a group purchase, it is much easier to be approved for a consortium. In addition, the award requires recurring payments, so for some people it will be easier to secure the asset through the consortium than through monthly savings.

But do you know which goods can be acquired through this alternative? Find out below: best consortium options available on the market.

Consortium for real estate

The real estate consortium is one of the best consortium options, as many people acquire their own home through it.

In general, this category has higher values and longer payment terms, which makes it as advantageous as real estate financing.

To participate in a consortium for real estate, you will have to choose a letter of credit compatible with the value of the property you wish to acquire and make payments while you wait for the prize draw.

After being drawn, you receive the letter of credit and can purchase your property in cash.

Many banks offer consortiums for real estate, such as:

Evaluate which bank offers the best proposal compatible with the value of the property you want before making your choice.

Car consortium

The car consortium is one of the best consortium options for those looking for greater chances of quick contemplation.

This is because this type of consortium is for median values of R$15,000 to R$150,000 and the groups normally have more people and a greater number of draws per month, which favors contemplation.

This is the best option for those who want to buy a car or motorcycle, and is usually offered by banks or even car brands. Check out the options:

Consortium for heavy vehicles 

If you are looking for a heavy vehicle to work with, such as trucks, buses, tractors and agricultural machinery, know that there are special consortiums for this.

This type of consortium is aimed at people and companies that perform activities that require this type of vehicle, and the values vary according to the type and brand of vehicle desired. Check out the best consortium options in this category below:

++Rural Credit: what it is, how it works, types and where to apply (consultacred.com.br).

How to find the best consortium options?

To find the best consortium options, it is important that you pay attention to some details, such as:

Relevance of the consortium management company: Avoid taking out a consortium with a little-known company, as there is a risk of never receiving the letter of credit and the administrator disappearing with the amounts paid. Unfortunately, this is a common scam in the consortium market.

Number of people per group: The more people in a group, the lower the installment value will be. However, on the other hand, it may take longer to be selected in the draw.

Number of installments: the number of installments helps to understand the maximum period for contemplating the consortium.

Administration fee: Administration fees are usually 15% to 22% of the amount of the credit requested. Therefore, consider this issue when choosing the consortium to pay a lower fee.

In any case, we recommend that you join a consortium with the help of an experienced professional, this way it will be easier to find an advantageous proposal and avoid scams.

This may interest you: How to make money with a consortium? Is it possible? (consultacred.com.br).

By: Roberta updated ago 2 years back