Financing a house or a vehicle is a way to have that good without getting completely into debt. Fulfilling the dream of owning a car or own home is getting closer, but if you have a low score it can be more difficult. Therefore, in today's article we will show you how to get financing with a low score. In addition to giving you tips for when you hire financing. Continue reading and check it out!

First, what is a credit score? The score is a score assigned to consumers by SPC and Serasa. These two companies specialize in credit assessment. The SPC uses data from accredited stores and the bank's Serasa. In this sense, the score serves as a basis for understanding the risk of lending money, giving credit and some other benefits. In other words, this score serves to measure your good paying history.

The score ranges from 0 to 1000, with 0 being the riskiest to lend money. And the closer to 1000, the safer the loan will be for the institution. For example, with a score lower than 300, in the case of a credit card, the chance of the bank releasing credit is low. With loans, interest rates can be higher. A score between 300 and 700 is considered medium risk of default. Already scores between 700 and 1000 are low risk of default.

It depends on the company consulted. SPC and Serasa do their calculations differently. However, there are some common points for the analysis:

Having a good score is very important. If an emergency happens and you need the bank, it will check your score and know you can trust. That way, you are safer when applying for a new loan or credit card.

Even so, for those with a low score, today we are focusing on tips for those who want to finance with a low score.

To finance a property or a car, the person needs to have a good credit score. But how much exactly is a good score? The truth is that there is no right value. There is even a minimum, but this value changes for each bank. Also, some banks have their own scoring system and just use Serasa and SPC to base it on.

To obtain a property financing in full, it is recommended to have a score of at least 700 points. However, for high-value real estate financing, there are other factors that are taken into account: such as a good relationship with the bank and monthly income.

To get financing even with a low score, you need to be aware of factors other than the score. For example, having proof of income compatible with financing is a good way. This shows the bank that you are able to afford financing. Another way is to invest in your relationship with the bank. Using all the available functions also helps in the process.

When financing a vehicle, the indicated score is at least 700. This is already a great score, with great chances of getting financing. Still, it is possible to get financing that covers the entire value of the car. However, as we have already mentioned, this value can change from bank to bank.

If your score is not enough, an alternative is to give your entry car. In this way, the amount required for financing decreases. Another tip is to increase your score, later on we'll show you the steps.

But what if my score is low? Well, now it's time to find out how to increase your score! Increasing your score will give you more credibility with the bank. And even easier when it comes to getting loans, financing and other financial services. Check out the tips:

First, having your name cleared is essential to maintaining your score. That is, before making a new debt - such as a financing - consider paying off the previous ones. Make negotiations and clear your name. Thus, your good paying history can improve.

Get organized to always pay your bills on time. Any delay in bills already lowers the score. One tip is to put fixed bills, such as electricity, water and internet always on automatic debit. That way you don't forget to pay and you can increase your score

Leave your data in Serara updated. If you move, change jobs or any other change that impacts your income, update your registration. This makes Serasa know you better and understand your financial reality. Thus, the company can offer a higher score.

If you live with more people, put the bills in your name. Having bills in your name and paying them on time increases your credit history. In this sense, make Serasa know you better. That is, the score increases.

If you already have a high limit, there is no need to ask the bank for more. This behavior gives the idea that you don't have control of finances. Being able to ask for a higher limit to go into debt later.

These are some tips to increase your score and get your financing with a low score. Now it's time to decide which path is best for you. In the end, it is always important to stay out of debt. And if you have debts, try to get rid of them as soon as possible. Some deals give up to 90% off! 

Also, we made a complete guide for you to increase your Serasa score. Read it now and find out how!