Comprar un auto através un automotive credit has become one of the most used ways to access a new vehicle O half-naked. However, not all applicants will receive immediate approval for their financing.
The financial institutions, brand finance companies y digital platforms evaluate multiple factors before authorizing a loan, and knowing these criteria can be decisive between obtaining a approved credit o encontrar un rechazo en el Credit Bureau.
In this complete guide you will discover how the approval process works and, above all, what actions you can take to increase your chances of obtaining a automotive financing.
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Desde la importancia del credit history up to the weight of hook, going through practical strategies that help you negotiate better conditions, here you will find what you need before requesting your credit.
The role of Credit Bureau in auto financing
One of the most influential factors in the approval of a vehicle financing es el historial en el Credit Bureau, which reflects your financial behavior: punctual payments, late payments, líneas abiertas y más.
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Buen historial: allows access to promotions highlighted, such as planes of 0% hook O interest rates preferential.
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Negative history: limits the options, since most of them banks y brand finance companies suelen reject requests with significant delays.
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Limited or null history: For those who have never had credit, it may be more difficult to obtain financing, even in some cases. fintechs offers alternatives designed for this profile.
Review the credit report This is the first step to knowing your position before approaching one financial institution.
Importance of hook en la aprobación
El hook The initial payment is another key aspect that defines you as a credit will be approved under any conditions. The majority of them banks requests between un 10% and 20% of the value of vehicle, even in specific campaigns some brand finance companies ofrecen planes de credit without hook.
Ventajas de un enganche alto:
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Disminuye el monto a finance.
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Refuerza la confianza de la financial institution.
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Posibilita obtener una interest rate lower.
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Eleva la probabilidad de approval.
Example: si un self costs $300,000, deliver one hook of 20% ($60,000) reduces debt and transmits greater security to the bank.
Documents and basic requirements to apply for an automotive loan
In addition to credit history and of hook, if you must comply with certain indispensable requirements:
Personal documents:
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Official identification current.
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Proof of domicile recent.
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Ticket receipt (name, account states or tax declaration).
Financial requirements:
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Work seniority minimum of 6 to 12 months.
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Ingresos comprobables that cover it monthly fee (It is recommended that you do not exceed 30% for tickets).
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Buen historial en el Credit Bureau.
Strategies to increase the chances of approval
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Improve your credit history: Paying pending fees, reducing card usage and avoiding delays raises the score.
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Time for a bigger hookup: aunque existan campañas de 0% hook, aportar al menos el 20% of the value of self increases possibilities.
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Present a co-deliverer with the guarantee: useful if the history is weak or the income is limited.
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Choose an auto agreement for the tickets: request credits For vehicles out of payment capacity, this is a frequent cause of rejection.
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Pre-aprobaciones en línea: manyas financial institutions They allow you to simulate or validate requirements before submitting a formal request.
Bancos y financieras with more flexible criteria
Not all entities apply the same parameters. Meanwhile some banks stand out for their solidity, they brand finance companies y autofintechs offers different options depending on the customer profile.
Examples:
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BBVA: fuerte presencia en semi-nude cars.
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Inbursa: Known for its flexibility in variable income.
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Banorte: attractive in new cars with competitive rates.
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Santander: solid in used cars y planes a largo plazo.
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Branded financiers (Nissan, GM, Volkswagen, KIA): useful for clients with a solid track record.
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Kavak: digital platform that combines inspection of used cars and agile financing.
Simulators automotive credit
A practical tool before applying this use of credit simulators, which allows you to adjust variables like hook, deadline (12 to 72 months) and interest rate, showing it monthly fee estimated.
Example: one self of $250,000 with hook From 20% over a period of 48 months you can generate quotas of between $5,800 and $6,400, according to the institution.
Common errors that reduce approval
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In reviewing it Credit Bureau before requesting.
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Deliver incomplete documents.
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Lack of probable income sufficient.
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Apply at the same time over several banks.
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Elect one vehicle out of payment capacity.
Conclusion
Lograr un approved automotive credit It doesn't depend on bad luck, it's just preparation. Review it Credit Bureau, contar con un solid hook, present complete documents and take advantage of them credit simulators Here are the key steps to increasing your odds.
Además, Seleccione la financial institution suitable according to the profile —ya see one bank, one brand finance the unit digital platform— you can mark the difference in the final result.