Calculate Repayments for New & Used Motorbikes
On Motorbikes
1 - 7 Years
Pre-Approvals
Score Protection
The bike loan calculator can help if your sticking to a budget or loan term.
Your credit rating and/or credit score will determine the interest rate you can receive. The higher the score, the better the interest rate. Your credit score is determined by factors such as: overall debt level and repayment history on loans and credit cards.
You choose the loan term that’s suitable to your budget. Many choose loans over a longer term so the repayments are manageable, but repay higher payments throughout. This provides flexibility in knowing your loan is paid off sooner and saves paying unnecessary interest.
If committing to a higher repayment at the start of the loan, there is little room to reduce the repayments with lenders should anything happen throughout the term (loss of employment etc)
Secured motorbike loans offer the most competitive interest rates with loan terms ranging from 1 – 7 years. Secured bike loans are available for new and used motorcycles, for dealer sale, private and auction purchases. The bike is used as security for the loan which lowers the overall loan risk to the bank.
Unsecured motorbike loans offer flexibility with loan terms ranging from 1 – 7 years. Unsecured loans can also be known as personal loans and can be used to purchase older model motorbike or if you want the flexibility to sell your bike without having to pay out the loan contract. These loans may have higher interest rates.
Business motorbike loans are used predominately for commercial use and can offer taxation benefits of claiming against GST, repayments or loan interest. Loan terms can range from 1 – 7 years with balloon or structured repayments options. These loans offer flexible repayment terms to suit the business structure or cash flow.
With your dedicated finance specialist at your side, your loan could be approved the same day and settlement within 24-48 hours.
As you will be starting a new loan application, you will need to provide ID documents, proof of income and a payout letter from your current financier.
Banks and Motorcycle Finance companies asses they’re loans based on risk. What is the customer like? Are they going to repay the loan? Is their job stable?
The vehicle age also determines the interest rate or loan term as older model motorbikes can be viewed as being harder to sell by the lender, should the customer default on their secured loan.
For example: A 1-2 year old bike will receive a lower interest rate than a 18-20 year old motorcycle.
The loan calculator is a guide only and does not take into consideration any potential monthly fees, establishment fees, credit check or vehicle check fees set by the lenders.
These fees are generally included in the loan borrowed amount and do vary from bank to bank.
For a detailed explanation of potential lender fees, contact our motorbike finance specialists on 1300 350 118.
Choosing motorcycle finance is not as daunting as it could be when you have iCREDIT in your corner. Whatever your requirements and whatever your financial situation, we’re on your side. We’re backed by national buying power, which means that we’re in the best position possible to negotiate better, more affordable finance rates for you. Going through us is simpler, more affordable and more rewarding than going to banks directly for financing.
Whether you’re buying a new or used motorbike, have your eye on a classic cafe’ racer, quad bike for the farm or just need someone to give you a go with second chance motorbike finance; Make the smart choice by talking to one of our dedicated finance consultants today and you’ll be well on your way to securing the motorbike of your dreams. We do all the heavy lifting for you, as at iCREDIT, we’re your one-stop vehicle financing solution.
