Motorbike Consortium – Check the Tips to Be Successful
The consortium for the purchase of a motorcycle or motorcycle, popularly known as a motorcycle, is an excellent option for those who are unable to buy the vehicle in cash or think of paying as an investment for the future.
Check out in this article some information for you who want to purchase your motor vehicle, paying according to your conditions.
ABOUT THE CONSORTIUM
Initially, the idea of a consortium was based on the union of people or companies with the same common objective, to acquire a good, be it small, medium or of great value.
This group of people or companies collaborate monthly with an amount equivalent to a portion of this same good, and then a raffle was held to find out who would be the beneficiary. Therefore, it was necessary for the interested party to be willing to pay carefully for this amount (portion), so that the entire group would not be harmed.
Currently due to the numerous innovations in the market, several companies offer this consortium service for people interested in acquiring a good, but do not have an immediate need for this good, or want to use this value as an investment, or even pay for the good in installments due to your financial condition.
Motorcycle consortiums are more sought after by young people who want to acquire their first motor vehicle as soon as they reach the age of majority.
And the opportunities are attractive, they offer plans of 36, 48, 60, and up to 72 months for the acquisition of this asset, but when contemplated, participants must meet certain criteria.
I'M A MINOR, CAN I JOIN A CONSORTIUM?
Yes you can! However, you must be at least 16 years old, and you can acquire the asset, even if previously contemplated, after you have turned 18 and have the qualification to do so.
I HAVE RESTRICTIONS IN MY NAME, CAN I PURCHASE A CONSORTIUM?
Yes you can! However, when contemplated, your name must be clean, that is, without financial restrictions.
All those contemplated in consortiums undergo a credit analysis, to prove that they are able to continue paying for the good, even after acquisition. If it is not authorized, it will be blocked until this situation is resolved.
This is a question that must be raised when looking for these services.
To ensure participation in the assemblies, participants must keep their installments up to date, otherwise they will lose the right to participate in the monthly contemplations.
DOES THE CONSORTIUM HAVE INTEREST?
Different from financing purchases, the consortium does not charge interest. This happens even if the good is acquired in installments over the years. On the other hand, the consortium member is subject to receive the letter of credit only in the last payment of the contract.
Another issue that must be considered is that when acquiring the consortium you will pay the installments according to the current value of the asset, however this asset undergoes annual readjustments so that the installments will also be readjusted according to the asset. Therefore, the installments are not fixed.
WHAT ARE THE ADVANTAGES AND BENEFITS OF A CONSORTIUM
Consortium groups present a safe way to acquire your good, due to the facilitated payment conditions and large numbers of contemplation within the assemblies.
In addition to being an opportunity for those who do not have immediate conditions to pay for the good, and prefer this option to paying for financing where interest rates are much higher.
I STOPPED PAYING FOR THE CONSORTIUM, DO I LOSE THE MONEY INVESTED?
Did something unforeseen happen and you had to give up the consortium? Know that you have the right to receive, however you need to make sure with your consortium administrator, what will be the way to recover this amount.
Some companies return the money at the end of the consortium group. For example, if you purchased a consortium with a 72-month plan, and stopped paying in the first year, you will receive the amount with interest discounts or penalties, which are eventually present in the contract, only at the end of the 72 months.
Another option is to sell the letter of credit to an interested party, so you will receive the amount paid immediately.
CAN I BUY A USED MOTORCYCLE WITH THE CONSORTIUM?
He can! However, you must make sure that the company you are associated with offers this category of services.
In this case, it would be convenient to look for a letter of credit in the value of the good in which you are interested. It is worth mentioning that companies that offer letters of credit dispose of the acquired goods, taking them as payment guarantee until the end of the commitment.
In these cases, the motorcycles are submitted to inspections that assess the condition of the asset and then proceed with the process.
Raise all questions to be clarified when contracting these services.
Make sure about the company's reputation, if there are lawsuits for not fulfilling the services offered. Currently there are sites that evaluate these companies.
There are countless offers on the market, as well as the scams that incessantly haunt us. We wish everyone interested in making a consortium plan successful!