Purchasing a motorcycle is an important financial decision, according to Bryan Landaverde, Business Executive at Banco Industrial. He provided guidance on how to access responsible credit tailored to individual needs and outlined key factors to consider before starting the process.
Landaverde emphasized that setting a budget is essential for understanding financial limits and preventing unnecessary debt. He noted that calculating an installment aligned with income helps ensure the purchase does not disrupt economic stability. Other expenses, such as fuel, maintenance, and registration fees, should also be considered. Through the Moto en Línea platform, insurance is included in the monthly payment, simplifying planning.
The prequalification process can help applicants determine if they meet basic criteria for obtaining credit by analyzing their credit history, payment capacity, and debt level. This step can save time and provide greater security when beginning the application.
When calculating a suitable monthly payment, Landaverde explained that a larger initial down payment reduces financing needs and lowers monthly payments. Extending the loan term results in lower installments but increases total interest paid over time. He recommended finding a balance between comfort and financial responsibility.
To apply for motorcycle financing through Banco Industrial, applicants must meet several requirements: be at least 25 years old, have at least one year of stable employment, provide a valid ID copy (DPI), hold a current motorcycle license, present recent bank statements if they do not have an account with Banco Industrial, and submit a utility bill. In cases of recent job changes, a letter confirming continued employment or including a guarantor may be necessary.
Comparing cash purchases to financing options, Landaverde stated: “en esta oportunidad puedes manejar el plazo que más te convenga y si deseas cancelar el crédito antes, lo puedes hacer sin ninguna penalización” (“in this opportunity you can manage the term that suits you best and if you want to pay off the loan early, you can do so without any penalty”).
Using Banco Industrial’s Moto en Línea portal allows customers to send information digitally from the start of the process. Landaverde said: “El cliente recibe una atención casi inmediata y tiene la opción de enviar la papelería escaneada para iniciar el trámite” (“the client receives almost immediate attention and has the option of sending scanned documents to begin the process”).
Banco Industrial encourages potential buyers to review their budgets carefully and use available resources like Moto en Línea to make informed decisions about motorcycle financing.
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