If you are looking for credit to buy a new motorcycle and affordable interest rates in the market during this pandemic chaos due to the new coronavirus, pay attention, because this article will certainly help you. The world is going through chaos, but it is not the end of the world, there are still many companies that are working with special rates.
Today, Digital Seguro has reserved a special article for you who are in this search, making comparisons, and trying to choose the best rate. Read until the end, to stay up to date with the latest information on this subject.
What are the basic rules for obtaining motorcycle financing?
This question can be answered in several ways, as each company works with its customers in a very unique way. However, we will show you the best motorcycle financing options on the market.
How motorcycle financing works
This credit works like this: you take the money you need and pay that amount back to the bank in monthly installments, which have interest.
In addition, you will need to make a down payment to start the financing, and the higher the down payment, the lower the interest and installment amounts will be. It is worth knowing that the motorcycle will be the bank's collateral until you pay off the debt, and this means that you could lose the vehicle if you fail to pay off the debt.
You need to check the status of your CPF
If you have a negative credit rating on your CPF, it is difficult to get financing. The bank always does a credit analysis to find out if you can afford to pay another installment. But when it finds negative credit ratings, it assumes that your budget is tight and, worse, that you are not paying your bills on time. So, if you have a bad credit rating, try to resolve this situation before buying your motorcycle.
Look for banks where you can finance a motorcycle
You can get financing from a bank or a car manufacturer. It is worth remembering that these institutions offer different interest rates and payment terms. Therefore, it is worth getting to know them before closing a deal, to know which one will save you the most.
We have here others tips on this subject that you analyze in more detail.
How can I simulate values for motorcycle financing?
It's very simple. You can finance your motorcycle at regular banks, finance companies, and manufacturers' banks, such as Honda and Yamaha. However, each bank charges different interest rates, so you need to compare financing offers from at least three places to ensure you get a good deal.
We separate this simulation:
Assuming that you will finance a motorcycle for three years worth R$10,000, giving a down payment of R$3,000. If you choose Caixa Econômica Federal, which has an interest rate starting at R$1,491 per month, you will pay 36 installments of R$252.65 and a total of R$9,905.40.
To learn more about motorcycle financing, go here on the BV Financial website, one of the best options on the market.