Bank said ‘No’ Get Second Chance Finance
Motorcycles
1 - 7 Years
Pre-Approvals
Score Protection
If you had had some issues that has marked your credit file, you have new employment or your bank has simply said ‘No’; A second chance motorbike loan might help you restart your credit rating and get you back on track financially.
We provide you access to over 40 of Australia’s leading top lenders which means your finance consultant can find the best financing solution tailored to your needs and your personal circumstances.
Secured motorbike loans are a preferred option for second chance loans as the lenders will use the motorbike as security for the loan. This adds comfort for the lender as it reduces the overall risk knowing they can recoup their costs should the borrower default on they’re payments.
Unsecured personal motorcycle are essentially personal loans. Although they do offer flexibility for the borrower especially if purchasing privately or buying an older model bike. Unsecured motorbike loans are a higher risk for banks so they may offer a lower loan amount for second chance borrowers.
With second chance motorbike finance it is a common mistake for borrowers to take the first approval offered to them as they are generally rushed or have a fear the lender will change their mind. To find the best motorcycle finance offered for your circumstances, rather than apply multiple times, you need to profile your application with lenders first. This provides a more transparent picture of where you are qualifying and what answer you’ll receive.
We do offer motorbike loans for Centrelink Income applicants. Generally the maximum loan amount is $10000 for Centrelink Income / Pensioner applicants. You can use the funds for private sale or dealer sale motorbikes.
Lender Interest rates for motorbikes vary as these items are considered a want or lifestyle item. Second chance motorbike loan interest rates are determined upon details such as your credit score, income, employment, residence, motorbike age and loan amount. Some lenders will consider second chance motorbike loans a higher risk, so may have a higher interest rate as this is a chance for people to rectify they’re credit rating.
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:
Comparing Second Chance Motorbike Loans is out job. We’ll profile your application through our panel of motorcycle and lifestyle lenders to find the very best outcome for your circumstances.
We help with second chance 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, you may qualify for a second chance motorbike loan.
We have an extensive panel of approved lenders and have helped many self employed ABN customers with their second chance motorbike loans. Generally the more information you can provide, the better answer you’ll receive.
Credit scores play a vital part in whether you’re approved for a loan or what interest rate you’ll receive; But having a low credit score doesn’t mean you won’t qualify for a loan. Other factors that will assist your loan are: do you have any other credit? how long have you been in your job? are you buying, renting or boarding? All of these factors can help if your credit score is low or nil
Second chance motorbike loans, either secured or unsecured can help get your credit rating back on track, helping you move to a Tier 1 lender after showing good repayment history.
Motorcycle loans can be accessed quickly, in some cases funding can be accessed the same day.
Second chance is just that. You need to make sure your repayments are maintained to rectify your credit rating. You need to take into consideration the repayment for the loan term in your budget.
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 second chance motorbike 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.
We compare the lifestyle asset lenders and banks for you to find the best available loan and rate. Our system will check your loan throughout our panel of lenders without negatively affecting your credit rating to provide you transparency on your loan. We process thousands of loans each year, have in-depth knowledge of lender guidelines so we can present your loan correctly, giving you the best opportunity to get the right answer.
iCREDIT second chance motorbike loans are available throughout Australia, Melbourne, Sydney, Adelaide, Hobart, Darwin and Perth, Gold Coast, Palm Beach, Burleigh Heads, Tweed Heads, Brisbane, Ipswich, Sunshine Coast, and Queensland Today!
