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Are you going to finance your motorcycle? Our guide will help you!

Looking to finance a motorcycle and finally get one to call your own? Before you do, check out all the details and what you need to know about motorcycle financing. Check it out below!

Financiar motos é relativamente simples e rápido. — Financing motorcycles is relatively simple and quick.

Learn about interest rates and everything you need to know before financing a motorcycle!

Just as important as choosing the right bank to finance your motorcycle is knowing what the financing interest rates are.

Today, it's difficult to establish an average financing rate, mainly due to the economic crisis in Brazil.

Today, each bank has its own rate. Therefore, it's necessary to shop around.

Some finance companies that specialize in financing motorcycles, cars, and other types of vehicles may offer lower interest rates than banks.

A very common value found by our experts was an interest rate of around 2.2% to 3.5% per month.

Therefore, this is the average price range found today in the motorcycle financing market.

Want to know even more about the process of financing a motorcycle? Then stay with us and take notes!

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Bank rules for financing your motorcycle.

Well, the rules for financing a motorcycle are as follows:

A down payment is required. The minimum amount is usually 20%;
You will only start paying the installments after making the down payment;
There is a maximum number of installments, which can vary between 48 and 60 installments;
Interest rates are set based on the motorcycle buyer's profile;
Payment is made via direct debit or through payment slips.

So, now that you know the rules for financing motorcycles, it's time to find out what the interest rates are for this type of transaction.

What is needed to finance a motorcycle?

For motorcycle financing to be safer and more advantageous for the buyer, there are some requirements and requests that must be carefully followed.

Therefore, in order to finance your motorcycle, banks will require certain conditions that need to be met.

These requirements involve documents ranging from proof of address to proof of income.

In fact, these two documents are the most important indicators, leading the bank to believe that the buyer will pay off the loan until the end!

To help you, we've put together a list of everything you need to finance your motorcycle.

Personal documents such as CPF (Brazilian taxpayer ID) and RG (Brazilian national ID);
Proof of current address: this can be a water, electricity, gas, telephone, cell phone, or internet bill;
Proof of income: this can be your payslip or your bank statement if you are self-employed;
Credit and transaction history: this is used as a security measure to assess whether you have paid your previous credit obligations;
Information about the motorcycle to be financed: year, model and price;
Age: You must be over 18 years old, and in some situations there is a maximum age limit;
Down payment: You will always need to provide a down payment to finance the remaining amount.

How long does it take for the bank to approve motorcycle financing?

Mas, afinal, quanto tempo demora para a aprovação? — But ultimately, how long does the approval process take?

Undoubtedly, the financing approval time is directly linked to the chosen method for purchasing your motorcycle.

Therefore, if the purchase is made at a dealership or a used car lot, the financing can be approved on the same day.

But this only happens if you bring your personal documents and all supporting documents to be analyzed right away.

When there is a delay longer than two days, it may be due to a data discrepancy between the bank's system and the data you submitted.

Financing through a bank or cooperative can take about a week to be approved.

So, now that you know, how about checking out the best banks with options for you to finance your motorcycle and make your dream come true? Let's go, check out our selection below!

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