How to finance a motorbike |
Posted: March 4, 2019 |
Whether you are a fan of motorcycles, or if you use them as a means of transportation to move around, you will be interested in the options available when financing a motorcycle. In this blog we have talked many times about the different motorbike finance possibilities for entrepreneurs, in the purchase of household appliances or in school materials. In this case, we will focus on analyzing the aspects that must be taken into account when buying a vehicle of this type and how to finance it. Better on a motorcycle? Within the family budget, one of the main items is destined to cover transportation. Sometimes, this expense is oversized due to a poor prior study of our needs, negatively impacting our ability to save. The best example we have in those diesel cars with high consumption and higher range than we do a few kilometers a year. In an economic context in which saving has become an obligation for almost everyone, having a car with these characteristics is a real luxury. When deciding on one option or another, there are several factors that we must analyze:
If the answer to these questions is positive, you should consider having a motorcycle. You will reduce the time you spend moving and gain mobility. In addition, associated expenses such as parking, insurance or registration tax will help you cheer up. How to finance a motorcycle? There are bikes for all uses and situations. In this case, we will stick to the characteristics of a motorbike for the city: the classic scooters, the asphalt queens. The figures speak for themselves, 67 of every 100 bikes sold correspond to this model. Its success lies in its price, its low consumption and its maneuverability in the city; and, of course, the fact of being able to be driven without the specific license for more displacement bikes, with the B license, we can carry a 125 cc. We will stipulate an average price for these bikes of €1500; with this amount we can access a large number of models and options. It does not suppose a great outlay if we compare it with a car (of any type) but, even thus, it means an expense that, in cases of shortage of liquidity we will have to consider alternatives to finance a motorcycle. The first thing we must do is analyze the available options available in the market. We can choose the loans that the financiers linked to the concessionaire will provide, or opt for traditional personal loans granted by a bank. In the first case, we will find that most manufacturers have their own financial companies which usually offer adjustable monthly installments and financing of up to 100% of the motorcycle. The interest offered by financial companies is usually fixed interest and the maximum repayment period can reach 60 months. In the group of loans granted by financial institutions, there are loans granted for this purpose, personal loans and quick loans. The financial option offered by scooter.co.uk, whose amount does not cover the complete purchase, but a good part of it. It’s almost immediate grant allows the buyer to dispose of the money in a few minutes, with which he can amortize one third of the price of the motorcycle or help pay some of his fees. Due to the small amount of the loan, it is difficult to find one that exceeds five years. The most common is that a maximum amortization period of between 12 and 60 months is established.
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