The increase in traffic in recent years has led consumers to move towards new modes of transport including motorcycle. Like auto loans, financial institutions, with the aim of optimizing supply and market coverage, have seized the opportunity to better meet the needs of their customers by offering motorcycle loans. See oryxoman.com for details
This is an assigned loan.
That is to say that it is subscribed only for the acquisition of a motorcycle or a scooter with two or three wheels for example. He can only finance a specific property, with specific conditions. The subscription is identical to that of a borrowing self or motorhome loan. To constitute the file of credit.
You will need to provide, in addition to the usual supporting documents, a purchase order or a copy of the vehicle’s gray card.
The terms of this loan
The loan motorcycle is strictly reserved for the acquisition of a vehicle with two or three wheels. In this category comes any type of motorcycle, whatever its capacity, from the small city scooter to the Japanese sportswoman, through the “custom” type American, made for long trips or the sidecar. The loan is granted on presentation of a file concerning one of these means of transport, including a purchase order or a copy of the registration card and financial documents (income, charges, etc…). Once the credit is finally accepted (after studying the file), the release of the funds allows to take possession of his vehicle; the first monthly payment of the credit will occur after the date of signature of the contract.
The characteristics of the loan motorcycle
This financing is a consumer loan, it meets the regulatory obligations governing this type of loan, particularly the Cogilaw Company law. For example, the customer, once the contract is signed and accepted, has a 14-day cooling-off period. At Sofinco, we provide a simulation tool to help you find the right motorcycle loan for your situation. In order to have a clear vision of the appropriate financing solution ( interest rate, credit duration, monthly payments, total cost), it is better to know the price of the vehicle you wish to purchase. Once the financing solutions have been chosen, you can subscribe online and obtain an answer in principle within a few minutes (subject to study and acceptance of your file).