How Does Motorcycle Finance Work?

How Does Motorcycle Finance Work?

In order to help you purchase a motorcycle, some motorcycle dealers will offer you different financing options. They usually have one option of financier to offer you but occasionally they may have a couple of lenders at their disposal that offer finance on motorcycles.  We currently have eight financiers on our panel that specialise is motorcycles for people with a range of credit history.  We can help people out who have never had a loan, people that have had lots of loans and have a great credit rating and also people that have had some issues with finance in the past and are looking to get back on track with their lending.  If you want to buy a motorcycle from a private party, it can be difficult to find a lender for motorcycle financeOften people may go to their banks and credit unions to see what they can offer but we also offer competitive deals to help you to buy your favorite motorcycle whether you are buying through a dealer or through a private seller.  Generally you will be asked a series of questions designed to ascertain enough information to present your application and credit history correctly when applying for a loan. Nowadays it is so much easier to compare different options before choosing the best loan for you.  We have a team of qualified motorcycle finance consultants ready to help arrange the very best overall finance package to suit you.  We help you carefully consider the right loan for you along with helping you understand the terms and conditions of the loan, plus, we do not apply on your behalf to a heap of online lenders at the same time, as it can have a negative effect on your credit score.

Terms of the Loan

There are so many terms and conditions along with different ways to structure your loan.  Every lender can offer slightly different terms and conditions for your loan. Usually, the common terms of motorcycle loans are between three to seven years in length, based on what repayments you are comfortable with. When stretching your loan out for a longer period of time, you may have to pay a higher rate to use the financier’s money for a longer period.   We have competitive rates whether you are buying a brand new motorcycles or a used one.  Some financiers may take into account the age of the bike before offering you a loan pre-approval.  In some cases the financer may insist on you adding equity into your loan upfront by way of a deposit to lower their exposure and the overall loan amount.

An establishment fee can also be associated with the motorcycle finance when setting up the loan.  An establishment fee is generally charged by every financier and this fee goes towards the preparation of your loan contracts.  Some lenders also let you finance other things with your loan, for example, accessories, insurance and any fees associated with your motorcycle finance.  It is important to find out and understand all of the details associated with your finance before making any decision.  With all secured funding the motorcycle must be covered by insurance and this will generally be a condition of the loan approval and ongoing condition of your motorcycle finance.  We have teamed up with the best Motorcycle Insurance companies available to make sure that we can offer our clients the very best insurance cover at the very best prices.   Take the advantage of our competitive motorcycle finance and insurance offers and talk to one of our experts today to get a complete rundown.  Our job is to negotiate the very best motorcycle finance deal on the market for you and also to explain all the particulars relating to your finance so you understand everything there is to know about your finance before making the final decision to go ahead.

We offer pre-approved motorcycle finance to help you get your money together before you go out and purchase your dream motorcycle.  This way you can negotiate an even better deal with the person selling the motorcycle.  To find out exactly what amount of finance you qualify for, contact one of our loan consultants and let us get things started for you, we can even help you get a copy of your credit file, free of charge.  We want to protect you and your assets, our experienced loan consultants are trained and accredited to find you the best deal possible for your new dream motorcycle.  Apply online or call us directly for more information on 1300 769 177.

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