Buy New Vs Used Motorbikes

There are many reasons why people choose a motorbike over a car, and it is a compelling argument. From having the flexibility of being able to park almost anywhere to better fuel efficiency for your short trips, it is a good option. Also, due to economic reasons, many find themselves choosing to downsize for affordability. You may be one of these people and unsure of whether to buy new or secondhand with motorbike finance.

We can help guide you in making the best decision for yourself, but ultimately it comes down to your preference.

Should You Buy New? 

A new motorbike is exactly that: new. It is straight off the assembly line, ready to take on the open road with no previous history. Parts are all brand new, they have not been swapped out and you can be assured that your safety will not be compromised. Newer models are also optimised to run longer and are generally built for performance. Older models may not have the latest technology to drive as smoothly.

However, the biggest concern many prospective buyers have is that new motorbikes are extremely expensive. And this can affect your decision, even if you finance your new motorbike. It is an important factor because maintenance and servicing costs will also add up in the future.

So Should You Buy Second Hand? 

Buying second hand is a popular choice with motorbike enthusiasts because of the price point. The affordability is extremely appealing, coupled with future maintenance bills ‒ it can be the go-to for new buyers. The added advantage of choosing secondhand is that you may have more choices when it comes to older models, models that can be considered vintage and one-of-a-kind machines.

But, the biggest disadvantage of going down this route is you may never know the complete history of your motorbike. Previous owners may have skimped out on regular servicing and chosen poorer quality parts. These can be critical to the condition of the motorbike as well as your safety on the road.

The decision comes down to what you need out of your motorbike. Whether you buy new or secondhand, both need to be compared carefully. And once you have made your decision and are ready for the buying process, call us at iCREDIT for tailored motorbike finance solutions. We prioritise affordability and promise competitive rates and professional service always.

What Is a Soft Quote?

A soft quote is a simple, no-obligation way to explore your loan options without affecting your credit score.
When you request a soft quote, we assess your financial profile and give you an estimated rate, repayment amount, and loan term based on current lender options.

✔️ No credit file impact
✔️ No commitment required
✔️ Instant comparisons across multiple lenders

It’s ideal if you’re still shopping around or just want to understand what your repayments might look like.

 

What Is a Full Application?

A full application is the next step once you’re ready to proceed.
This involves submitting your information to the lender for a formal assessment. The lender then completes a credit check, verifies your documents, and provides a confirmed interest rate and loan offer.

✔️ Required for formal approval
✔️ Involves a credit check
✔️ Can lead to same-day approvals (depending on the lender)

What Affects Your Loan Rate?

Lenders consider several key factors when determining your personalised rate and terms. These include:

1. Your Profile

Credit history, employment stability, and income all play a major role in the rate offered. A clean credit file and steady employment can often lead to lower rates.

2. The Asset

The type, age, and condition of the asset (car, caravan, horse float, etc.) can influence risk and therefore the rate. Newer or higher-value assets often attract better rates.

3. Loan Term

Shorter terms generally mean less total interest paid, while longer terms may offer lower weekly repayments but higher total cost.

4. Fees

Every lender has their own structure for establishment, monthly, and exit fees. iCREDIT helps you compare these upfront so there are no surprises.

Why Compare with iCREDIT

At iCREDIT, we make finance simple and transparent. Our team compares a wide range of lenders, explaining your options clearly and helping you choose the best fit — without pressure or hidden costs.

  • Compare rates and lenders side-by-side

  • Understand your total loan cost upfront

  • Avoid unnecessary credit checks until you’re ready

Get Your Soft Quote Today

Take the first step with a soft quote and see what’s possible — all without impacting your credit score.

👉 Start your soft quote today