Buying the car with a loan that includes the final maxirata is a possibility offered by many dealers. But what does this actually mean? And who is it convenient for?
Financing as a tool for buying a car is certainly not a recent invention. Next evolutionary step and more functional than the bills that preceded it over time, it has evolved to respond to changing needs as well as the market and vehicles. A financial formula that has been very successful already in the early 2000s is the so-called maxirata, a term dictated by the presence of a final installment far superior to the previous ones, whose presence is justified by the purpose of the formula: to pay less at the beginning and postpone a large part of the amount to be paid at the end. Why do this? The reasons may be different: for example, the need to wait for the arrival of a capital, with which to then settle the account. But is it really worth it? The answer, as always, depends on the cases: it can be a useful tool for the purpose or it can turn into a boomerang.
La MAXIRATA
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Let’s start from the beginning: a loan with maxirata usually involves two phases: the first, lasting between 13 and 36 months, with a relatively low monthly commitment that does not fall below 1% of the financed capital (example: for a loan of 10,000 euros, the installment of the first phase starts at at least 100 euros). At the end of the first phase there is usually a double option: either to pay the final maxi-payment in a single solution, or to refinance it for another 36 or 48 months.
GUARANTEED FUTURE VALUE
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In some cases we speak of “guaranteed future value”, a term that indicates a contractual agreement between the customer and the seller in which the latter undertakes to recognize a value of the car equal to the maxirata, as long as it respects the clauses in terms of mileage and state of the vehicle, against a trade-in for the purchase of a new car. These are formulas focused on Trade Circle Management (Tcm): plan the change of the car according to a short cycle of replacement, every 2 or 3 years, offering the customer a guaranteed future value of the vehicle and the dealer network a fresh used fleet constantly replenished.
TO WHOM IT IS CONVENIENT (AND TO WHOM NOT)
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The maxirata financing is mainly suitable for those who, being able to count on incoming capital but not immediately available, intend to defer the initial payment by aiming to pay off the final installment. It is not recommended for those who already know they have to refinance the maxi-installment, better to opt for a longer formula but with a constant installment. It is also not recommended for those who do not intend to change cars after two or three years; in such cases, a formula with the contractually agreed guaranteed future value is recommended. More clarity and more safety.