A personal use motorbike loan can be either a secured or unsecured personal motorbike loan. These loans are for consumer ‘non business’ use.
Personal use motorbike loans are suited for new to older model motorbikes for dealership sales, private sales and auction.
Secured personal loans use an unencumbered asset such as a new or used motorbike as security for the loan. A Personal Use Motorbike Loan can help in borrowing higher loan amounts as this provides comfort for the bank as it helps reduce their overall risk.
Unsecured personal motorcycle loans offer flexibility with loan terms ranging from 1 – 7 years. Unsecured motorcycle loans are a good option if purchasing private sales, especially if you want the funds readily available.
Having a pre-purchase motorbike loan is a safe option to help you stick to a budget when shopping for your next motorbike. Knowing the funds are ready when you are can help if you find a bargain or need to act quickly on a purchase.
A personal use motorbike loan is a loan for consumer (personal use) which can either have a security , the motorbike as collateral for the loan or fully unsecured.
Interest rates for motorbikes vary from lender to lender. Determining factors such as credit score / rating, the loan amount, loan term and the overall loan application profile will determine what interest rate you will receive. With banks constantly changing their interest rates, our process of comparing loans & lenders can help find a suitable motorbike interest rate loan that is suitable for you.
To apply for a personal use motorbike loan, you will be required to provide some details. Generally the more information you can provide the more options will be available to you.
Information to assist with personal loans include:
Although most motorcycle lenders prefer to see clear credit history, we do have lenders that can assist if you have bad or poor credit history or even if your bank has said no. As everyone’s circumstances are different, so are the lenders guidelines and our finance consultants are experienced in sourcing a suitable loan to meet your requirements.
We can assist with personal use motorbike loans for customers with new employment. As long as you can show continuity of employment from a previous employer and are not subject to a probation period, we mat be able to help.
Security is usually not required for a personal use motorbike loan, however if you’re borrowing larger amounts, using the motorbike as collateral for the loan can help if you’re borrowing larger amounts.
If you’re purchasing for business use, a personal use motorbike loan may not be the ideal product for you. For a guide on what loan product might be suitable for you, please contact us on 1300 350 118
Personal use motorbike loans, either secured or unsecured offer a quick, transparent option when purchasing motorcycles without having to use a credit card or home equity.
Loan can be accessed quickly, in some cases funding can be accessed the same day.
As personal use loans are not suitable if purchasing for business / commercial use. You may miss out on taxation claim benefits.
Some secured personal loan lenders may charge an exit fee if you pay out the loan before the contracted period (ie: pay the loan out early)
We help make our personal use motorbike loan customers loan journey easy. Whatever your requirements and whatever your financial situation, we’re on your side. Backed by national buying power, meaning we’re in the best position possible to negotiate better, more affordable finance rates for you.
