The ways in which it is possible to resort to motorcycle financing often vary depending on the purpose for which they are intended.
- Motorcycle financing, all modes
- Motor financing for the purchase
- Motorcycle financing or loan
Motorcycle financing, all modes
If it is a movable asset they are essentially due to the possibility of financing the purchase or the possibility of borrowing the sum needed.
In the specific case of a motorbike loan, the discourse refers to a personal loan that is finalized, that is to say, that can be granted only in the specific case of rest of the designated vehicle.
The loan in question may concern the purchase of a motorcycle to be registered, therefore new, and already registered, entering in detail the vehicles used.
Financing of motorcycles for the purchase of a motorcycle or moped
Generally, a loan for the purchase of a motorcycle or moped has parameters that are not very different between the various financial companies proposing, which clearly refer to dealers or dealers in the sector to entice a purchase that otherwise would be burdensome for normal management personal finance.
This particular type of personal loan includes amortization plans to be extended to a maximum of five years, with constant installments calculated on the basis of applicable interest rates, substantially lower than those on the consumer credit market.
When the contract of sale is finalized, the concessionaire will propose the motorcycle financing appropriate to the purchaser according to its debt capacity, ie the possibility of covering the installments subject to the loan for the purchase of motorcycles, depending on the income received from the same..
He will have to present his paycheck and the cud, against which the financial will verify his debtor history as well as any reports to the CRIF as a bad payer, after which, approved the practice, will provide the seller the full value of the vehicle.
In view of its commitment to the presentation of the motorcycle loan application, the seller will receive a kind of benefit or commission, the burden of which, like all expenses and accessory fees to the formation of the cost of financing, is calculated in the Taeg, the rate annual aggregate which, in contrast to the nominal annual rate, TAN, that is the percentage of interest payable, is the percentage parameter that adds up all the items that affect the purchaser.
Motorcycle financing or loan
The foregoing gives the measure of the difference between loan and loan, ie the purpose and availability of the sums. In fact, while the loan, although attributable to a personal loan, is aimed at the purchase of the vehicle and the necessary sums are paid directly to the seller, in the personal loan to purchase a motorcycle there is no purpose and the same are fully available to the applicant. The personal loan, although granted with higher interest rates, is much more flexible and immediate as it is in the freedom of the applicant to prefer the credit or financial institution that best meets his needs. Moreover, in the case of the purchase of a used motorbike, with a quotation that is too small to justify a financial loan, the personal loan, such as the assignment of the fifth salary, can constitute an alternative that allows the purchaser to dispose of liquidity both for the purchase and for the accessory expenses such as insurance and tax stamp. The guarantees to be provided are identical to any other form of request for credit, including a certain and demonstrable income and possible coexistence of guarantors. In this it differs from the financing of motorcycles in which the same purpose, ie the purchase of a movable asset payable to the debtor, which can be attacked in the event of insolvency, protects the interests of the lending institution by means of forced recovery actions such as foreclosure.