how it works and how to make yours

Consortiums are a very viable alternative for those who wish to purchase goods, such as cars, motorcycles and real estate, and are more attractive than financing. Therefore, the motorcycle consortium is interesting both for the values ​​and interest rates, and for the contemplations, as it is one of the modalities that sold the most quotas in 2021, covering both men and women.

In this sense, let's talk about what a motorcycle consortium is, how it works and what to evaluate when joining a consortium.

What is a consortium?

Conceptually, the consortium can be understood as one of the mechanisms for purchasing goods and services available on the market, where a group of consumers with common interests come together, creating a type of collective fund to acquire this good.

However, to be entitled to the value of the asset, it is necessary to contribute monthly, paying the installments corresponding to the value of the letter of credit.

Therefore, for you to be included, there are two possibilities, which are draws or bids.

Monthly draws are held, where one or more participants can be selected, giving them the right to withdraw the amount from their credit card and thus make their dream of owning their motorcycle come true.

Here, it is important to remember that all participants in the consortium group are entitled to receive the value of their letter of credit, as set out in the consortium contract, and of course, within the consortium's validity period.

It is also important to highlight that in order to organize the consortium group, such as the draws and payment controls, the consortium administrator is responsible for the consortium itself.

Now that you understand that a consortium can be understood as a type of self-financing, or even collective savings of an asset, let's explain how a motorcycle consortium works.

How a motorcycle consortium works

Very simply, the motorcycle consortium works as follows: you choose the model of the motorcycle you want, or even a letter of credit worth the value of the motorcycle.

After thinking about this first detail, you must choose the consortium administrator, so you can join the consortium group and make the monthly payments for your share.

Here, you must also consider some details, such as the number of installments to be paid, forms of consideration and the value of the installment to be paid.

All these details are important for you to organize yourself financially and be able to be considered quickly.

Therefore, if you pay your quota within days, you can participate in the monthly assemblies, where the consortium member is drawn to redeem the value of your credit card and pay for your motorcycle.

It seems quite simple, doesn't it? And in fact it is, as long as you are aware of the conditions of your consortium and make payments regularly, in order to be entitled to the asset.

If you delay in paying the installments, your consortium may be cancelled, in accordance with the provisions of Law No. 11,795/2008, also known as the Consortium Law.

How to join a motorcycle consortium

Basically, there are two (2) ways to participate in a motorcycle consortium, which is by joining a group that is being formed, or by joining a group that is already formed.

In this sense, groups in formation are groups that are not yet closed and in operation, as the administrator is still looking for people to complete the ideal number of people in the group,

In this case, you join a group that has yet to begin, where the contemplation of participants begins after a period pre-established by the administrator.

In the case of groups already formed, they are already closed and in full operation. Normally, these groups have already included some participants, and are in full swing.

Therefore, to join these groups, you can purchase a quota that has not yet been purchased (vacant quota) or a transfer quota.

In the case of a vacant quota, you purchase directly from the consortium administrator, carrying out all negotiations in a very secure manner.

The transfer quota is negotiated directly between group participants, and therefore, the obligations and responsibilities are at the discretion of the participants, carrying out the entire process separately.

In this case, the consortium administrator only takes action at the time of the transfer itself.

Therefore, it is very important to observe all the details of the contract for your consortium share, to know your rights, duties and obligations, being sure to purchase your motorcycle.