Owning a motorcycle for faster commuting, saving money, and leisure is a dream for many people. And the best part is that it's possible to achieve it through a simple purchase method. Learn about the advantages of a motorcycle consortium. 

Ultimately, this is a very attractive and safe option for those who want to buy a car but don't have the money upfront. In this model, a group of interested people come together to purchase a similar vehicle. 

In practice, there are groups interested in buying a motorcycle of the same model or value. Within this group, a type of joint savings fund is created, and you become a shareholder. 

Every month there will be a drawing, which could win you a credit voucher to buy your motorcycle. Or if you don't want to rely on luck, you can place a bid, just like in an auction.

The difference is that the bid represents the number of installments you can pay in advance, and consequently, have a better chance of winning the auction, understand? 

Therefore, the great advantage of a motorcycle consortium is that you can adjust the installments according to your payment conditions. That is, without needing to make a down payment or pay interest on the installments. 

The number one advantage is the possibility of financial organization, because with a consortium the chances of you getting into debt are lower. This is because the installment amounts will fit within your budget according to the price of the motorcycle you choose.

Furthermore, there are no interest charges on installments, so you won't be surprised by unexpectedly high amounts. However, if you are late with your payment, you may be subject to interest and late fees.

Another important point is the security of the purchase. This method is completely safe and reliable for acquiring a motorcycle in the medium or long term, okay?

The Central Bank oversees all Consortium Administrators, which makes acquiring a motorcycle through a consortium even more advantageous. Therefore, the chances of losing money or paying exorbitant interest rates are almost nil, as mentioned.

Another advantage of participating in a motorcycle consortium is that you don't need to prove income or undergo a credit check. In other words, you can start even if you have a negative credit history.

However, if you are selected, be aware that an analysis will be carried out. So, get your paperwork in order as soon as possible so you don't miss the chance to finally get your motorcycle, okay?

Until then, you only need to worry about paying your installments on time to avoid defaulting, as consortium members with late payments are not eligible to receive their prize.

It's important to know that each administrator has its own rules, so always check how it works if you are selected, in order to be able to use your letter of credit. 

And it doesn't stop there! As mentioned before, there's also the possibility of a faster purchase. That is, through bidding you have even more purchasing power. 

As long as you pay the small installments on time, you can plan to make an early payment and take home your dream motorcycle! 

Have you realized the advantage of participating in a motorcycle consortium and want to know even more about this option? Then keep reading to understand how to join a group.

Okay, now that you understand why joining a motorcycle consortium is a good option and has advantages, you'll understand how to participate in one. Check out the step-by-step guide below to join a motorcycle consortium: 

To begin, you need to search for companies that are certified and regulated by the Central Bank.

In this first step, if you prefer, you can look for the manufacturers themselves that offer motorcycle financing through a consortium, such as Honda.

After finding the best administrator for you, check the available payment plans. At this stage, you will see what best fits your budget. 

Remember that ideally you should look for payment plans that fit into your financial organization to keep your payments up to date. 

Once you've chosen your administrator and payment plan, it's time to select your group. Here you'll find some options:

Have you found your group? The next step is to finalize the contract. Again, the advantage of a motorcycle consortium is the lack of bureaucracy. Typically, the only documents required to join the consortium are:

It's quite simple, but it's up to the Administrator to request any additional documents to finalize the signing. 

Now that you're a new member of the consortium, you'll receive payment slips for your installments. From here, it's just a matter of hoping to be selected for the credit letter and get your motorcycle!

But even knowing the advantages of a motorcycle consortium, do you still want to buy one without relying on luck, since you have a little more money? Perhaps investing in an auction would be a good idea! Check out other options for you.