Financing a semi-new motorcycle is a valid option for those who do not have the money to hire a financing process through formal means, that is, those people who cannot finance a new motorcycle, as the cost is much higher.
Therefore, this option of financing a used motorcycle arises, on the other hand, a big question remains: will I not have to spend more buying a used motorcycle, and consequently, will I not end up spending as much as I would spend on buying one new bike?
To shed some light on those of you who follow our work here on Digital Insurance, we have put together a series of questions and answers below that may help you in your quest to buy a used motorcycle or a new motorcycle. Check out the main information and at the end, make your decision.
Used motorcycle financing – what you need to know
Many do not know that any financing is a credit operation carried out by a bank or finance company for the purchase of a valuable asset. The credit institution analyzes the financial situation of the interested party and assesses whether it is possible to lend the amount he needs or not.
Usually, as a guarantee of payment, the finance company sells the vehicle. This means that, despite being registered in the buyer's name, he will not be able to transfer the motorcycle to someone else until he has finished paying off the financing. If you are unable to honor the commitment, the finance company may take the motorcycle and auction it to settle the debt.
This guarantee allows the finance company to charge lower interest rates on financing, when compared to other lines, such as personal loans or overdrafts.
WHAT ARE THE ADVANTAGES OF FINANCING?
For those who don't have money, there are many advantages, for those who have money to pay in cash, there is no advantage.
Financing of semi-new motorcycle up to 100%
Every finance company does an analysis of your finances before approving the financing. This lets her know how much you can use in your budget to pay for the motorcycle instalments.
Depending on your profile, enough credit may be released to pay 100% of the motorcycle's value. That is, the purchase may be of a motorcycle without entry. For this, the year of manufacture of the motorcycle is also evaluated. The younger it is, the more likely it is to finance its full amount.
Low interest on financing
This will depend exclusively on the value of the motorcycle you chose to finance, so you need to do an analysis at your bank to find out what the low interest possibilities are in the market for financing a semi-new motorcycle. .
Let's go to a practical example! Installment in 36 installments and, after 6 months, you decide to pay the last installment in advance, you will have a 30-month interest rebate on that installment. This could be a good use of your 13th salary or some other resource you receive.
Anyway, for more information, leave your doubts in the comments!
Source: Low Interest Portal
