Financing a motorcycle or a car is the dream of many people. In addition, it can be a way to guarantee your good without having to go into debt or save a large amount of money. But if you're wondering: how much score do I need to finance a motorcycle? Today we will answer you! Continue reading and understand the minimum score to finance your motorcycle.

Before we talk about the score to finance a motorcycle, let's understand what the credit score is. The score is a score assigned to consumers by SPC and Serasa. Both are Brazilian companies specialized in credit assessment.

Each relies on different data to understand your credit history. The SPC, for example, is based on data from accredited stores. Serasa, on the other hand, manages to obtain this information through financial institutions. Therefore, the score exists to measure your good paying history. Giving to understand what is the risk of default when lending money and giving credit, for example.

The scoring scale goes from 0 to 1000. 0 is the riskiest and the closer to 1000 the safer for the institution. If your score is closer to zero, the chance of the bank releasing your credit card is low. Just like loans, which if released will come with a high interest rate. But, speaking of numbers, see which scores are good or bad:

In addition to these numbers, do you know how the credit score is calculated?

SPC and Serasa carry out their calculations in different ways. However, there are some data in common for both analyses. Look:

As already mentioned, a score considered good is between 700 and 1000 points. However, we know that currently many people do not reach this value. And you don't need to despair. Even if there are SPC and Serasa indicators, banks have their own way of calculating them. In this way, the score varies a lot from institution to institution. So, the question remains: how much score do I need to finance a motorcycle?

The precise score to finance a motorcycle is the high score. However, this is the ideal scenario. That's because it will also mean that you have financial planning to deal with that future debt. However, it is important to say that there is no right value.

As we mentioned earlier, each bank uses its own scoring method. So it really depends on your institution. Including, it depends not only on your good paying history, but also on your relationship with the bank, what services you have contracted, and much more!

If based on the scale we show you from Serasa and SPC your score is low, there are some possibilities to finance your motorcycle. See our tips below.

If you have some asset or value to give down, it may be easier to get your financing. In this way, the amount that the bank will have to lend you decreases, so even with a low score it may be possible.

The consortium is a good option for those who are unable to hire motorcycle financing. In the consortium, individuals and legal entities come together for the same objective and draw a winner every month. In this modality, the bureaucracies are much smaller. Plus, it's no down payment and interest free!

If your score is low or your name is dirty, we'll give you some tips to resolve the situation. Check it out below!

Increasing your score can give you a better chance of getting a loan. Plus, you'll finally get out of debt. Remember that there are joint efforts to clear the name, in which the debt can have up to 90% discount! Also, follow our tips to increase your score.

Taking out a loan is taking on a new debt. Therefore, we recommend that you settle all your previous debts before carrying out the financing. With negotiations, your good paying history can improve and, consequently, your score too.

Paying bills on time is one of the strongest indicators for the score. Put fixed bills such as electricity, water and internet on automatic debit. So you already organize yourself to always pay the bills on time.

Changed jobs and are earning more? Update your registration! Sometimes Serasa and the SPC are not aware of any positive changes and end up not increasing their score. Make sure your registration is always up to date.

Putting the accounts in your name can be a good idea if you live with other people. The more bills you pay on time, the more good payer indicators the credit assessors will have.

After these tips, you will understand how much score you need to finance your motorcycle. In addition to having great tips to increase your score. Now, check out another article on bad debt financing below.