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What do cars without insurance, drive around the street?

According to the National Unique Traffic Registry (Runt), 41% of cars in Colombia circulate without insurance and these are the strategies they use to do so.

Compulsory Traffic Accident insurance 

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Mandatory to drive through the streets of the country, but despite this, again this year it was found that a large number of cars circulates without having purchased one.

The punishment for not having an insurance or circulating with one that is already defeated or false, is to become a fine, but that does not seem to intimidate drivers.

How, then, do they circulate on the street without being arrested? Typically, they use two types of strategies to get their way.

First, many of them buy fake insurance

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It is true that many times drivers are scammed, but other times they themselves know that they are acquiring a product that is not the real one, but since it is at a lower price and allows them to move along the road without problems, they decide to buy it.

Second, they seek everything to evade the authorities. If a police officer comes to stop him, they would fine him when he finds that he does not have insurance, which is why they make every possible effort not to cross them.

However, none of these measures is infallible

However, none of these measures is infallible

If you are from the group that does not already have insurance, remember that this insurance allows you to attend to the victims of traffic accidents and, on the other hand, that they grant you a fine and immobilize your car, not only damages your finances, It also implies a waste of time.

Finally, despite the fact that insurance has the same price in all insurers, each entity seeks to offer different additional benefits to attract customers. Before choosing your insurance, take a few minutes to compare the alternatives, using web comparators such as Macbeth’s.

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Advance payments: This is what you earn by reducing your credit term

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When you receive a bonus, win a prize or simply realize that you have more cash than you thought, it is normal to start thinking about how to spend it. However, a wiser option will always be to pay the debts you have, especially in a scenario where interest rates have not stopped rising and it is becoming much easier to fall into default.

If you finally decide to allocate the money to pay off your debts, a good way to do it is by choosing the one that has the highest interest rate and highest amount of insurance or commissions from the financial entity, since it is the one that most expensive is coming out.

 

When making an advance payment

advance payment

You should not only know that you can no longer be charged a fine or punishment, but that you have several options. One of them has to do with reducing the credit term; another, with the reduction of the monthly fee; and another with the suspension of payments for a certain time.

Many people opt for the option to reduce monthly fees, so that their budget is more comfortable; However, the money you save rarely uses it in something productive, but ends up adding it to the cash you have available.

 

The term reduction option presents an interesting dynamic

The term reduction option presents an interesting dynamic

Since by reducing the term, it reduces the number of outstanding installments, so it is saving interest and also the insurance and other commissions that the bank can charge monthly. In addition, month by month the savings will be equal to the total amount of the fee, and that way you can use the money to cancel other debts or allocate it to a savings account that pays you interest for that money.

Find out and think well what option you will request, but always remember that if you have debts to pay, it is better to use the extra money for that and not stop buying more things.