Undeniably the financing simulator helps us a lot in the decision to buy a house or apartment, as we get accurate information on the financial market without leaving home.
In the past this was impossible and to simulate a loan it was necessary to go to the bank.
Certainly this need has been annulled, only using the internet can we get the information we want.
In this way, we were able to simulate in the best banks and determine the best option to finance a car.
Continuing on this subject, today in our article we are going to deal with the vehicle financing simulator.
We have gathered a series of information that will certainly help you in this very important process that is to make a financing.
How is the loan/financing calculated?
for you to discover the calculation of your financing or loan, it will be necessary that either you do an online simulation, using a financing calculator (as you will see further down in this article) or you can choose to do online simulation in the type of financing you intend to do.
In this case, you can access the official websites of the respective banks.
But don't worry, below we will give you a comparison of the best banks for you to finance.
What is the Financing Simulator?
The financing simulator consists of a digital and online tool.
That allows you to know in detail the financing you are considering joining.
Undoubtedly, this mechanism is essential for anyone who wants to save money, as it shows us which banks have the lowest rates on the market.
Without using this simulator you will end up closing a deal with the highest interest company, which will result in expensive financing.
What is simple and compound interest?
First, we must understand that we will always pay interest, regardless of the financial transactions we choose.
However, it is necessary to understand how simple interest and compound interest work, in order to have a financial education that allows us to make smarter choices.
What we need to keep in mind is that there are two types of interest: simple and compound interest. See below for an explanation of each one!
simple interest
In general terms, we can understand that simple interest is the one that accrues only on the amount borrowed, without adding any other elements to the calculation. Let's see an example to better understand how this works?
Shall we understand this in practice? Check it out: suppose you took out a personal loan in the amount of R$ 8,000.00 to pay at a rate of 3% per year. In this case, you would pay a total of R$ 8,240.00 (R$ 8,000.00 loan and R$ 240.00 interest).
Therefore, as we understand, the interest was calculated only based on the R$ 8,000.00 that was borrowed, without changing in the 3 years of the contract.
Meet our simple interest calculator!
Compound interest
Now compound interest is completely different.
Other people also call it “interest on interest”.
Therefore, in this case, the interest is recalculated in different financial intervals, focusing on interest already calculated previously.
In other words: interest is charged on top of amounts that already had interest. Hence the term “interest on interest”.
Let's get into practice: you financed a simple car worth R$ 10,000.00, with compound interest of 3% per year, therefore, within 3 years.
In the first year, you will have to pay interest equivalent to R$ 300.00 (3% of R$ 10,000.00). However, for the second year, this value would technically change, because this would accrue interest on interest.
Thus, the calculation base amount would be R$ 10,300.00 (R$ 10,000.00 of the loan and R$ 300.00 of interest for the first year). So 3% of that would be R$ 309.00.
Finally, in the third year, the base value of the calculation would be R$ 10,609.00 (R$ 10,000.00 loan + R$ 300.00 first year interest + R$ 309.00 second year interest). Therefore, the interest payment would be R$ 318.27.
To summarize everything we said: in total, you would pay R$ 10,927.27 to the bank that financed your motorcycle, with R$ 10,000.00 of loan and R$ 927.27 of compound interest.
Did you understand? If not, leave your comment at the end of this article.
Advantages of using the financing simulator
Why should I simulate before financing? You will have this answer by seeing the advantages of simulating below. Have these advantages as a base and don't ignore them, and they are:
Discover all the opportunities previously
By choosing to simulate, you will get to know all the market opportunities, being able to sort by who is better.
Possibility to compare rates and their effects in the future
Undoubtedly, interest rates have the greatest effect on financing, so you cannot finance without studying the information.
With the simulator, you will get to know interest rates well and their effects on financing.
Discover the Digital Seguro financing calculator
In order for you to simulate financing, you must first have a fixed amount that you need to do the simulations using our calculator that we developed especially for you.
After that, go to their website and look for the simulator, so you can fill in and have the results.
Check below, how you can make a simulation using our Digital Seguro calculator.
Top financing simulator options
Santander Financing Simulator
You must choose the value of the property, how much you want to finance and see the conditions that the bank has reserved for you. In the online simulation of Financiamento Santander you will be able to find out about the bank's rates and interest. To know now, simulate here.
Itaú Financing Simulator
Bradesco Financing Simulator
Banco Bradesco also stands out with real estate or real estate financing, with it you can finance up to 80% of your asset, you can also do it in up to 30 years for payment.
Fast agility, that is, the response process does not take days.
Everything, thinking of you. To know more, simulate here.
Make your choice now!
Simulate, compare and choose the best financing with Digital Insurance.
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