Five tips to keep in mind before deciding to participate in a collective fund

If you dream of having your own car or house, but want to acquire them in the future, collective funds They are the best alternative to get them. This mechanism allows you to plan the purchase of a good with monthly contributions that you will make together with other interested people.

“If you want to buy a car for US$12,000 in the medium or long term, then you can access these groups with the same objective. People who enter, do it to save, create a credit record and it is easier for them to acquire their vehicle, generating a tentative saving of up to 68% of the extra cost “specifies Rafael Celis, finance manager of Maquisistema, a collective fund company with 30 years in the market.

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According to the Superintendency of the Securities Market (SMV), those interested in being part of these funds must go to a collective fund management company (EAFC) and, prior to signing the contract, they must carefully read the rate, the program provided , among others. After being informed, you must prove the ability to pay to meet the total monthly fee.

In that sense, what are the most important points to take into account before deciding to participate in a collective fund? The Maquisistema expert provides the following information.

• Saving and planning with discipline: Saving is not a habit that many people have and it can be difficult to do so. However, if the goal is clear and trust in companies like Maquisistema, the dream of owning a house or car will not be as far away as it seems. Also, among other advantages, the company offers annual administrative fees from 18.3% for the financing of a vehicle.
• Delimit time and amount to allocate: The amount willing to give for a car, apartment or any other property must be clear, as well as the monthly payment capacity. The collective funds work through installments with terms of up to 120 months. For example, to pay for a US$11,500 car, you can do so in installments of US$168.47 over 80 months.
• Know about the assemblies: The delivery of a car or house is given through raffles or auctions. In the first case, one member is chosen at random from each group, while in the second case, those who offered the highest number of installments in advance are awarded.

In addition to this, there is a third delivery method only for cars. This is only offered by Maquisistema’s Auto Pronto product, through which you can advance or reach installment 24 so that you can take the vehicle, and then pay the remaining installments. In all three cases, the awards are made through assemblies held by the EAFC and with the presence of a notary public.

• Correct history in Infocorp: Collective funds provide the opportunity to enter into a scheduled purchase (medium and long-term financing) in a simple way, since you only need a DNI, a document that proves your income and receipt of services. However, when it is your turn to take the good and you are still a debtor, you must have a correct history in Infocorp and demonstrate that your debt is being paid on time. If you have other unpaid debt, you must prove your ability to repay it in the future.
• Percentage of minor administrative fees: The payment of the monthly fee is divided into two concepts: the capital fee and the administrative fee. The first is calculated by dividing the value of the asset to be acquired by the number of months that it will be part of the group. The second is the payment made for the administration service of the collective fund. These amounts will depend on the payment system you choose.

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