24/01/2023
Due to frequent questions about purchasing a motorcycle on deferred payment, here we will describe three offered ways to purchase a motorcycle “in installments”, i.e. for deferred payment.
Dedicated loans are the fastest and usually most favorable way to purchase a motorcycle on installments. You need a pro forma invoice from us for the motorcycle you are buying, and everything else is completed at the bank where you want to take out a loan. Dedicated loans have no down payment, the bank pays us the money, and you assume the obligation to repay the money in equal monthly installments, according to the agreement with your bank. Magnus Moto has a signed agreement with NLB bank for such loans, which contains predefined favorable conditions for our clients. The interest rate is 5.5% + 6M Euribor, loan processing is 0.25% and the term can be up to 5 years. This means that the installment can be around 40 Euros for a smaller scooter. These conditions change once a year, but they are always more favorable than the market ones.
Financial leasing is popular in the West, but has yet to take off in our country, as it has only just now come close to the benefits of dedicated loans. Interest rates are competitive, and the down payment can be from 30 to 50% depending on individual cases. Magnus Moto has cooperation with Porsche Leasing and Sava Insurance for this type of financing. The first step is to go to Porsche Leasing with the estimate for the desired motorcycle and check what conditions apply to you. If the conditions suit you, the next step is Sava Insurance, where you need to arrange comprehensive insurance for the purchase of the motorcycle. Financial leasing is impossible to achieve without comprehensive insurance, and the only insurance company that currently approves this type of insurance for motorcycles in Montenegro is Sava. After the agreed comprehensive insurance, you have a complete picture and if you decide to trade, you need to inform the leasing company whether you are paying the down payment to them or us, and sign the documentation.
Operational leasing is the least burdensome type of financing for the client, because it has the least demanding conditions and is the easiest to achieve, but it is also the most expensive. In this form of financing, the down payment is the same as in financial leasing, but the repayment period is significantly shorter and the interest is higher. The entire arrangement is treated as a vehicle lease with the right to buy back. The vehicle is not registered with the buyer but with the seller's company, and the Agreement defines that the client, upon expiration of the Agreement and payment of the last agreed installment, can choose whether to return the vehicle and take back the deposit or to leave the deposit and keep the vehicle. In the event that the client chooses to keep the vehicle, which is almost always the case, the transfer of ownership of the vehicle to the client is carried out - which is free of charge for the client. For operational leasing, comprehensive insurance is not mandatory, but the client is obliged to repair any damage if any damage occurs during the repayment period.
For specific information regarding your case or for any questions, call our shop in Podgorica at 067/030-666 or 020/624-915.
