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BNDES FINAME


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FAQ


BNDES FINAME



What is BNDES Finame?

BNDES Finame is a type of long-term financing, in which funds to buy the asset are passed to Banco Volkswagen by Banco Nacional de Desenvolvimento Econômico e Social – BNDES, through BNDES Finame (Agência Especial de Financiamento Industrial – Special Agency of Industrial Financing). With BNDES Finame, you or your company cano acquire Volkswagen trucks and buses in very advantageous conditions.

Which assets can I purchase using BNDES Finame?

You can purchase trucks and buses from Volkswagen brand in addition to new machinery and equipment made ​​in Brazil.

Who can contract BNDES Finame?

Individuals (since proven to be self-employed cargo carriers) and Companies.

How do I apply to BNDES Finame?

Go to a Volkswagen authorized dealer and request the presence of a Banco Volkswagen S/A representative. He will help to answer your doubtss and also questions about documents needed to carry on with transaction. After that, Banco Volkswagen S/A will analyze your credit application form and forward the financing transaction for BNDES’ approval.

Which documents are required to apply for BNDES Finame?

Companies:

  • Debt Clearance Certificate or Liability Certificate with Clearance Effects, issued by Procuradoria Geral da Fazenda Nacional (Office of Attorney-General of the National Treasury);
  • Debt Clearance Certificate - CND, issued by Instituto Nacional do Seguro Social (Brazilian Social Security Institute) - INSS, via internet, to be extracted by the client (www.mpas.gov.br) and verified by a Financial Agent;
  • FGTS’ (Time of Service Guarantee Fund);
  • CRS (Issued by CEF);
  • Balance sheet from last two years - most updated balance sheets;
  • Billing values from last 12 months;
  • Articles of Association and last modifications (in case of an S/A company, minutes from last 2 meetings – AGO/AGE);
  • CNPJ (National Directory of Legal Entities) card.

Obs: For a company to apply for BNDES Finame operations, there cannot be any debts with Governo Federal (Federal Government).


Individuals:

  • CPF / Individual Taxpayers’ Register (both sided copy);
  • RG / Identity Card (both sided copy);
  • Driver’s License (both sided copy);
  • Union Card;
  • Income tax return;
  • Services contracts (if exists);
  • Sufficient evidence of income;
  • Sufficient evidence of current residence;
  • Debt Clearance Certificate or Liability Certificate with Clearance Effects**, issued by Procuradoria Geral da Fazenda Nacional (General Attorney's Office for the Department of Treasury);
  • Debt Clearance Certificate - CND, issued by Instituto Nacional do Seguro Social (Brazilian Social Security Institute) - INSS, via internet, to be extracted by the client (www.mpas.gov.br) and verified by a Financial Agent;
  • Declaration that you are not an individual business owner(Hereby I declare, under penalties of law, that I am not an individual business owner, nor I am not, and have never been, a contributor to Social Security as an employer, and have not, and never had, employers at my service, therefore not being under the obligation of presenting a Debt Clearance Certificate (CND), according to article 10 of Law nº 8870 from 15.04.1994, in order to obtain credit with BNDES

** Certifications obtained from Internet by Banco VW.

What are the minimum requirements for this financing plan?

  • be current on tax and social obligations;
  • be able to pay;
  • not be on bankruptcy protection or bankruptcy.

How long is the total period of BNDES Finame operation?

Maximum period allowed is up to 48 months for transactions involving buses and up to 60 months for trucks.


It’s allowed up to 72 months for self-employed cargo carriers.

What is grace period?

It is the period between signing the financing and the payment of the first installment of amortization of main value.

Does the company have to pay some amount during the grace period in BNDES financing?

Yes.


During grace period there are quarterly rates corresponding to Spread Risk and Basic Spread, plus the Financial Cost (TJLP) over the outstanding balance.

What is an amortization period?

It is the period that begins immediately after the end of the grace period. At this moment, begins the payment of the main cost of contracted resources on financing and, if necessary, the portion of capitalized costs.


In the amortization period periodically is paid a portion of principal plus capitalizations that had been made, plus Total Spread and Financial Cost levied on the outstanding balance of the transaction. This periodicity is usually monthly. Some Financing Programs may have it semiannually or annually.

Does it require some sort of guarantee on BNDES Finame?

Yes.


Requirements will set by the operation risk.


On Banco Volkswagen, the security required is the fiduciary lien of the financed assets and, if necessary, additional guarantees may be requested.


For further information, also consult BNDES’ website.

I need to change my registration information. How do I do?

Send a message via Contact Us informing your complete mailing address or new phone.
It is important that you keep your registration information updated so we always be in permanent contact.

I have not received monthly payment invoice. How do I pay the installment?

The invoice is forwarded monthly to your mailing address within 10 days prior to expiration. You’ll find how to get a duplicate in our website or, if you prefer, via Contact Us. Enter your full address (street/avenue, number, supplement, district, zip code, city and state) and send a message requesting the duplicate.

How do I pay the overdue payment?

By the 10th day after the due, you may pay the invoice only at the issuing bank, plus charges.


After 10 days of invoice’s expiration, the debt should be settled in one of our offices that will contact you to arrange payment of the outstanding amount or, if you prefer, via Contact Us. Send a message so we can tell your contact phone number.

How is the release of the vehicle?

The release of lien (gravame) occurs automatically within 15 calendar days after the contract settlement. After this deadline, you must contact the transit agency of your location to issue a new document (CRV) without alienation.

How to anticipate the settlement of my contract?

To place an Early Settlement, your contract must be in good standing. This option is available on our website. If you prefer, it’s possible to simulate the operation and get your invoice or send a message via Contact Us.

The amount paid is not from the current month. How do I do?

After 48 working hours of payment, send a message via Contact Us requesting the appropriation of the amount paid on the portion of the month and ask for sending the duplicate corresponding to the portion that was wrongly paid.

How do I get the statement of my payments?

Send a message via Contact Us requesting record of all your consolidated payments.

How do you calculate the value of installment?

A TJLP (Taxa de Juros a Longo Prazo – Long Term Interest Rates) is the index used to calculate of the shares on Finame.


You need to multiply the amount of money (reported in the Financial Statement of operation) by the value of UMTJLP (Currency Interest Rate Long Term) on the expiration of each share.

How to get a copy of my contract?

Upon the acquisition of the vehicle we provide a copy of the contract, when still at the dealer. If you have not received this document, send a message via Contact Us and we will forward a copy of your contract, as PDF file extension.

How do I replace the vehicle that is sold on my contract (mortgage guarantee replacement)?

You can only replace product Finame vehicle with the authorization from Banco Volkswagen and in cases of accident or when the current vehicle does not meet most of your needs and is under factory’s warranty.


The replacement vehicle must be from same year/model of the current one or supperior and approval process will be conditioned to the BNDES (Banco Nacional de Desenvolvimento Social) within 60 to 90 days.


For this operation, the contract must be in good standing. If you want more information, download the PDF below to learn about necessary documents and the basic conditions for the operation.

How do I transfer ownership of contract (debt transfer)?

With the prior approval of the Banco Volkswagen it is possible to transfer the rights and obligations of the contract to another owner. The value of trading regarding to paid amounts on the contract until the date of transfer is responsibility of the involved ones.


For this operation, the contract must be in good standing.


The approval process will be conditioned to the norms of BNDES and may take from 30 to 90 days.


Download the PDF below to learn about necessary documents and the basic conditions for the operation.


After Banco Volkswagen's approval, the proposal will be attached to BNDES' analysis that can take 30 to 90 days. Only after BNDES' approval the term will be emited and sent to the original dealer.

I want to change the license plate’s state of the vehicle. What do I do?

You can only change the Federal Unit (FU) of current licensing of the vehicle to another city with BNDES’ authorization.


Download the PDF below to learn about the necessary documents.


For this operation, the contract must be in good standing.


The process will be attached to BNDES' analysis, that takes 30 to 60 days.

How do I acquire the Consolidated Statement of my payments?

Banco Volkswagen provides consolidated statements of financial operations for consultation as of February 28 of every year, with the information related to the previous year.


Send a message through Contact Us to request your statement.

I have other questions...

For more information, suggestions or if you have not found a satisfactory answer to your question in this section, click Contact Us, fill out the registration form and send a message with your opinion. We are available to better serve you.

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