Recently, Nubank launched a new credit modality, which is a loan with a vehicle guarantee, in which it is possible to hire through the bank’s application. This new service will have a partnership with Creditas, known for being the largest online credit platform in all of Latin America.
What this article covers:
How does this Nubank credit modality work?
According to Nubank, with the new credit modality, its customers will have the chance to take out loans with up to 90% of the entire value of their vehicle, with interest rates considered low. Another benefit offered by the new service is the receipt of cashback of 1% of the cost obtained.
However, to be able to access the cashback, customers must meet certain requirements, which would be: not having applications or loans already active with Creditas, and it is also necessary that the contracting of credit through the Nu app be within a up to 30 days after the simulation.
Requirements to access the new Nubank credit
First, to get access to the loan, the vehicle must be a car, and it cannot be more than 15 years old and neither can it be a Ferrari or Maserati, since both cannot be used as collateral.
Financed vehicles can also be used as collateral, however, 50% of the amount must have been paid. In these cases, the rest of the amount is added to the loan, which makes both become a single debt.
It is important to know that the contracting process will be done online and the customer will be able to pay this loan in a maximum of 60 months, in addition to being able to continue using his car normally, however, the vehicle cannot be sold until that its full value be paid.
Finally, credit can only be contracted by people who are from the Federal District and some other states, which are: São Paulo, Santa Catarina, Rio Grande do Norte, Rio Grande do Sul, Rio de Janeiro, Alagoas, Ceará, Bahia , Goiás, Espírito Santo, Minas Gerais, Mato Grosso, Pernambuco and Paraná.
How to apply for this credit?
To apply for credit, first, you must open the home screen of the Nubank app and click on the option of “Borrowing” or “Loan – we have an option with your car as collateral”. Next, it is necessary to read the information that will be shown and, finally, the option “Simulate loan” must be selected.
Next, click on “Continue” to redirect to the Creditas website and, in this way, continue with the simulation. The response on the loan request will be sent to customers via email or WhatsApp message.
Can negative be entitled?
Currently, this loan with vehicle guarantee will only be available to a small group of digital bank customers and, little by little, this new modality will begin to be released to a larger number of people.