Used Motorcycle Loans
The motorbike has become one of the most popular vehicles lately. How come?
In conditions of extraordinary congestion, the motor can be a solution. In addition to its slim and easy to carry shape, the price is also much cheaper than a car.
As a result, the demand for this one vehicle continues to increase from year to year.
With high demand, you certainly already know that today more and more credit institutions offer motorcycle loans easily. Starting from 0% interest rate offer, without DP (down payment), and so on.
It is true that the offer is often very tempting, but one question that also often arises:
“Can the credit institution be trusted? Is it guaranteed? Is used motorcycle credit there profitable? “
Therefore, it is important to think twice before taking a motorcycle loan. Especially used motorcycle loans, because the risk is greater than the new motorcycle credit.
Why is that? Because there is a potential for the motor being sold the quality is not as good as the one offered, or maybe the specifications are not suitable.
Thus, you should be more careful in used motorcycle loans by considering a number of tips and seeing the profit and loss of the credit from the following Buendía family:
Used Motorcycle Credit Tips
It is true that buying a used motorbike has several advantages, for example, the price is definitely much cheaper and minimizes your losses when reselling the motorbike.
But, as stated earlier, you should always be careful when choosing a used motorcycle loan so you don’t experience losses.
The tips for the former Buendía family version of motorbike credit are as follows:
# 1 Checking and Choosing a Motor with Thoroughness
Unlike the case with buying a new motorbike at a motorbike dealer that has guaranteed quality, buying a used motorbike requires super high accuracy.
Why is that?
Because of the many motorbike sellers who polish the outside of the motorbike very pretty and smooth, even though the engine might be dilapidated.
His name is also used, meaning it has been used by others before. Therefore you must be very good at checking the quality of the motorbike, not only from the outside, but also includes the engine parts and performance.
The trick is to ask for help from friends who are experienced in the field of motorbikes so that they can find out which engine components have been damaged or are of poor quality.
In addition, it is also advisable to always do a test drive first so you can feel the performance of the motorbike directly.
Thus, you have minimized the damage that will eventually cost you a lot.
# 2 Choosing a Secure and Guaranteed Credit Institution
The second tip is to choose a credit institution that is safe and secure, aka can be trusted. Don’t be easily tempted by offers such as DP 0% or low installments, but first ask each terms and conditions clearly.
Many offer motorbike loans with a DP of 0% but it turns out that the interest rates are very high, so if you count you even lose.
So always collect information as clearly as possible first and calculate whether it is in accordance with your financial capabilities or not.
# 3 Choosing Credit with a Fixed Rate
Do you already know what is a fixed rate ? That’s right, interest rates remain an interest rate that will not change even if interest rates fluctuate.
With a fixed interest rate, then you already know how much installments you have to pay. Apart from that, you can be calm because the size will not change even though the economy is supported.
As a result, you can manage your finances more easily because the amount of installments per month is fixed.
But it should also be considered the weakness of these tips, namely when the market interest rate falls, you experience a loss because your interest rate will not go down.
Well, because buying a motorcycle is not a cheap thing, buying a vehicle cannot be compared to buying fried food, right? If you don’t plan finances from now on, how can you buy a car?
The Buendía family application provides a feature for financial planning to buy a vehicle, such as a motorbike.
By using this application, you can find out how much money must be allocated each month to buy a motorbike according to your target.
Thus, you can get a family car that has been dreamed of so far. If you are a new user, please register here or download it on the Google Play Store.
# 4 Choosing Credit According to Ability
Indeed used motorcycle loans are an alternative for those of you who are financially constrained and need transportation.
But you need to choose a used motorcycle loan according to your ability if you don’t want the motorbike to be confiscated later.
Thus, choose the price of a used motorcycle that fits in your pocket and fits your needs. Credit is smooth, your motorbike is safe.
# 5 Determine the Purpose of Buying a Used Motorcycle
When buying a motorbike, you also need to know exactly what the goal is. Is it to deliver goods, to go to work every day, or just for collection?
By knowing the purpose, then you can determine the type of motorbike and the right value to buy it.
For example, if the motorbike will only be used to commute to work every day, should you buy a high-value Harley Davidson motorbike? Of course not.
Well, consider carefully the type of motorbike and the price that suits your needs, so as not to lose later.
# 6 Check and Ensure All Complete Letters
The letters referred to here are official documents from the police, be it the Vehicle Ownership Book (BPKB) or Vehicle Registration Certificate (STNK). When buying a used motorbike, you must make sure the documents are complete and authentic.
In addition to checking the completeness and authenticity, make sure that the National Identity Card (KTP) of the name in the BPKB is still valid.
If the BPKB and STNK are being guaranteed or even the BPKB and STNK are not available, we recommend that you look for another motorbike to avoid the problem later.
Profit and Loss of Used Motorcycle Loans
After looking at a few tips on choosing a used motorcycle loan, now let’s see what the disadvantages are.
Thus, your consideration is more mature in taking used motorcycle loans.
# 1 Advantages of Used Motorcycle Loans
Actually a motor or other motorized vehicle is an asset whose value is always down in each period.
Thus, you need to consider carefully when choosing the type of vehicle to be purchased and what the estimated depression will be.
Thus one solution is to buy a used vehicle, because the loss will not be too large later.
Well, besides, what are the benefits of buying other used motorcycles? Let’s look at the following:
# 1 Cheaper Motorcycle Prices
Because the motor is used, generally the motor will experience depreciation of approximately 20%. Thus, it is clear that the price of a motorbike will be much cheaper than if you decide to buy a new one.
# 2 Motorbike Available
Unlike when buying a new motorbike that sometimes pivots, you don’t have to wait long when buying a used motorbike. Used motorcycles are of course already available and ready to buy anytime.
# 3 More Light Installments
Because the price is cheaper than the new motorbike, the installments will automatically be lighter.
# 4 More Light Taxes
Payment of motor vehicle tax is calculated from the year of manufacture, where the value increases every year.
Thus, when you buy a used motorbike output 2 years ago, the tax will also be lighter than when buying a new motorbike output this year.
# 2 Loss of Used Motorcycle Loans
In addition to the various advantages, buying a used motorbike on credit also has several disadvantages, you know !
For example, used motorcycles do not have insurance. Intrigued by other losses? See the discussion below:
# 1 Credit prices are more expensive than paying cash
For those of you who have done credit before, of course, you know that there is interest in the credit system, which is a reward for creditors who have lent money.
As such, credit is generally more expensive than if you pay cash.
# 2 No Insurance
Unlike when buying a new motorbike, the leasing will not provide insurance when you buy a used motorbike.
Thus, you cannot enjoy the benefits of insurance.
# 3 The quality of the machine is less guaranteed
As previously stated, if you are not very good at checking a motorcycle before buying it, you can just accept a product of poor quality.
The machine is broken, or maybe the function is not good.
# 4 There is a Rename Process
When buying a used motorbike, of course you know that the bike has been owned by someone else before. Therefore, it is necessary to change the name of the BPKB and STNK from the old owner’s name to your name.
Safe and Profitable Used Motorcycle Loans
How, does this article give an idea of used motorcycle loans?
If yes, it’s a shame if your office friends who are also interested in buying a vehicle cannot get useful information like this.