Is it possible to finance a new motorcycle even if you have a bad credit rating with Spc or Serasa? This has been a very frequent question among many of our Digital Seguro readers.
We have gathered a series of information that may be of interest to those of you who are looking to finance a new motorcycle. It is important to understand that financing also means creating a new debt, therefore, a loan.
By changing the term to loan (and not financing) you will probably understand how motorcycle financing works. So, the question remains: which bank offers loans to people with bad credit?
Difficult, isn't it? You need to meet a series of requirements to have your loan or financing approved. Therefore, read the following information that we have put together for all of you.
How to buy a motorcycle with zero down payment?
Choose the bank where you will apply for financing carefully. It is important to note that buying a vehicle without paying a down payment is not usually the best option, as this method can significantly increase the interest payments. However, in some cases, the buyer needs the motorcycle urgently and cannot wait to save up the money to make a down payment.
There are different ways to apply for financing. To make the purchase of a motorcycle possible under these conditions: financing, consortium and leasing. Each of them has its advantages and disadvantages, and it's up to you to decide which one best suits your needs!
Financing a new motorcycle is probably the best option for buying a motorcycle without paying a down payment if you need it as soon as possible. Once you get credit approval, you will have the keys to your vehicle in your hands within three days!
However, the big problem with this method is that, by paying zero down payment, you will pay very high interest rates, which will make the final purchase price very high in relation to its cash value.
The Consortium is, without a doubt, the most economical option to buy a vehicle without a down payment. Since it is not a loan, there is no need of credit approvals. And most importantly: no interest is paid!
The main problem is that it may take some time for you to get your new purchase in hand. For example: in a 48-month consortium, you may be drawn to receive a letter of credit for the amount agreed upon in the first month, or you may end up being unlucky and only receive it in the 48th month!
Where to apply for financing?
We recommend you check out some articles exclusives we made here, If you have any questions, please leave a comment.
Source: Motorcycle Blogger