Those people who will receive the end of year bonus and they have the opportunity to optimize this special amount, they can invest it in making the money profitable or in achieving a good in the future.
Luis Guado, Head of Marketing at Pandero, points out that collective funds are a great option for those looking for easier financing at a lower cost in case the investment is on the purchase of a car or a property. Especially for those with little credit history who prefer to avoid traditional financial alternatives.
What are group funds?
Collective funds are a financing system which consists of the formation of groups of people who contribute monthly fees to achieve the goal of the car or their own home. They do not require initial to finance the purchase of these goods. Also, the cost is much lower and the access is easier.
The director of Pandero explained that in collective funds there is no annual interest charge, but the administration fee that is already included in the monthly fee. This fee is charged for the total amount financed.
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In the case of traditional financial entities, charge annual interest depending on the type of credit requested. In the case of vehicle credit, we find from 10% to 30%. If we talk about financials, it could fluctuate up to 35% or more.
Guado explained that Entering a collective fund is very simple. You must choose the fee that best suits you (from US $ 199 in the case of a car and US $ 299 in the case of a property). In addition, you must pay the registration fee and the first monthly fee, and then the interested party only has to sign their contract with their face. In this way, you would already be participating in the system.
“The fees offered by Pandero, being very accessible, allow you to use a part of the bonus to pay the registration fee or, if you are already in the fund, opt for an auction (advance fees) and thus have your car or house ahead of time, “he said.
Ways to win a sweepstakes or auction
The collective fund has the peculiarity that the Obtaining the car depends in part on one’s luck to win the draw, but also has another way to get the car, through the “auction” or advance fees for those who wish to have the car in advance without having to wait for the draw.
The auction consists of offer an advance installment amount based on your savings. The people who advance the most quotas will be the ones who can be the winners. Through this surplus of bonus money you can take advantage of it to pay the registration fee and start participating in the system.
If the amount available is higher, it can even be used to try to acquire the car in a faster way, without waiting to be drawn, offering an advance of installments. In this way, you could enjoy the new car in a short time, if you win through this modality.
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