Motorbike Loans – About, features & benefits
Well over 100,000 brand new motorcycles, ATVs and motorcycles are sold in Australia every year. There are many brands to choose with the top selling brands being Honda, Yamaha, Kawasaki, Suzuki, Harley-Davidson, KTM, Polaris, Triumph, BMW, Motorrad and CF Moto.
We have access to many lenders who specialise in motorcycle finance and our expert consultants will find you a great deal. If you are ready to make a purchase or want to get pre-approved so you can shop confidently enquire with us. Whether you are buying new or used we will guide you through the process and get your motorcycle sooner.
What is a bike loan?
The loan is secured against the bike and the financier pays the dealership or the supplier directly so the car may be purchased. The customer takes immediate ownership of the bike at purchase subject to the financier registering a security interest against the vehicle. When the bike loan is paid out the financier releases the security interest and the customer has clear title to the vehicle.
Features of a bike loan
- Agreed fixed interest rate with monthly and fortnightly repayment options
- Terms range between 12- 84 months.
- Deposit or trade in allowed
- Balloon payment at the end of the term is optional.
- PPSR encumbrance lodged so prospective buyer is able to check to confirm if the asset is currently under finance
- Product is regulated by National Consumer Credit Protection Act
Benefits of a bike loan to you
- Fixed interest means repayments are fixed which allows easy budgeting
- Flexible terms allow you to tailor the repayment to suit your budget
- Deposits and balloons also allow you to tailor the repayment to suit your budget
- The financier has secured the loan against the vehicle which means the interest rate is lower than an unsecured loan
- The National Consumer Credit protect Act affords the customer a high level of protection and allows easy comparison between lenders.