Archive May 2019

What Is A Motorcycle Loan?

Motorcycle credit You have always dreamed of offering a motorcycle, but the financing is problematic? Maybe the bike loan is the solution that suits you. Let’s see how it works and what are the conditions to be able to dispose of it. 

A motorcycle loan or motorcycle loan generally takes the form of consumer credit in every respect comparable to auto credit, except that the amounts are generally lower than for the purchase of a car or a motorcycle.

What are the conditions to respect to get a motorcycle credit loan?

What are the conditions to respect to get a motorcycle credit loan?

As with any other credit, motorcycle credit loan is subject to certain solvency ratios. This means that the bank or credit institution will check if the amount of your outstanding credits does not exceed 33% of your income.

What are the different types of credit loans available to buy a motorcycle?

motorcycle loan

Of course, motorcycle credit is ideal for buying a motorcycle. Credit allocated, it will be issued (if conditions are accepted) to proceed with the acquisition of your vehicle, as could be a car loan. But other solutions exist such as a revolving credit or an unassigned personal loan.

But you should know that the rates for unallocated personal loans and revolving credit are higher than those charged for motorcycle loans. It may, therefore, be judicially sound to use motorcycle credit rather than another type of credit.

Want to have a loan for your motorcycle? We are here to help you. Contact us now!

 

How to get the best rate for a motorcycle credit loan?

motorcycle loan

In order to obtain the best rate and thus find the most advantageous offer according to your situation, you can use an online credit comparison tool. This will allow you to have a good overview of the different offers that you can compare according to the amount you need and according to the monthly payments you want to pay to repay your credit. Make sure that the rate of each credit is the annual percentage rate of charge (APR) because it is the one that will represent the total amount you will have to repay. 

When you have chosen the credit offer, before signing the contract, do not hesitate to negotiate the interest rate, especially regarding the application fees. top

Use of Residential RSLoans

In the course of the adoption of the homeowners’ pension law, future homeowners can incorporate their Riester supplements directly into the repayment of a residential RS Loan already offered by some banks. These are exclusively annuity loans, which instead of a home loan savings contract and in combination with state subsidies is an attractive alternative to other forms of financing.

 

Consider long savings period

Consider long savings period

Future builders and owners of residential property must therefore no longer wait for the allocation of Bausparsummen or consider long savings periods, but can use one of several offers under the old-age pension contract certification Act (AltZertG) to the flow of all Riester allowances (including those for children) either to limit the repayment installments to the allowance or else to reduce the repayment period by means of corresponding additional own contribution and thus save money in the form of lower interest charges. Many banks continue to offer a special repayment right, which corresponds to the maximum amount of eligible contributions to private pensions. However, it must be ensured that this is the construction or purchase of owner-occupied real estate, this is also the (future) main residence and the repayment plan provides for debt relief at the latest by the 68th year of the borrower. In addition, the property may not have been acquired until after 2007.

 

From the point of view of taxation

From the point of view of taxation

Resident RS Loans are also subject to taxation in the form of tax relief during the repayment phase. In detail, this means that allowances and capital repayments are recorded on a notional housing subsidy account and earn interest at a rate of 2% per annum. As soon as retirement is started, the amounts in the account are taxed. You can choose between two options: You pay regular taxes up to the 85th year of life or you repay the tax debt in one fell swoop and receive a discount of 30%.