Secured Motorcycle Loan
A Secured Motorcycle Loan, often referred to as a Consumer Bike Loan, is the most common financing option for purchasing a motorcycle for personal use.
Secured Motorcycle Loans Explained
A secured motorcycle loan is a simple loan between you and the lender with regular repayments for a predetermined time frame. Ownership of the bike passes to you at the start of the agreement, and the loan is secured against the bike. Because the bike serves as collateral, the interest rates are typically lower than those of an unsecured motorcycle loan. If repayments are not met, the lender can repossess the bike and sell it to recover the funds owed. You can pay off a secured motorcycle loan at any time. You can also sell the bike at any time during the loan term.
Motorbike Buying Options
- Road bikes, dirt bikes, ATV's, quad bikes, scooters and mopeds.
- New or used motorbikes.
- Private sales, dealer purchases and interstate transactions.
- Road registered and unregistered motorbikes.
Advantages of a Secured Motorcycle Loan
Lower interest rates. Using the motorbike as collateral gives lenders more confidence and hence they are willing to offer more competitive interest rates than an unsecured motorbike loan.
Finance 100% of the purchase price and more. A deposit may not be required. Additionally, the finance amount can even be increased to cover insurance and accessories.
Fixed interest rate. The interest rate is fixed for the term of the loan. This means repayments remain the same for the life of the loan which makes budgeting easy.
Regular fixed repayment schedule. Make weekly, fortnightly or monthly repayments with the option to pay off extra.
Terms from 1 to 7 years. By increasing the term of the loan, your regular repayment amount decreases. This can ensure that you can meet loan repayments. Late or missed repayments have a negative impact on your credit score.
Ability to pay out loan early. Extra repayments can be made when funds are available. By making extra repayments you reduce both the interest charged and the life of the loan.
Apply for a Secured Motorbike Loan
Call one of our friendly AAA Motorbike Finance Experts today to discuss your Secured Motorcycle Loan. Our easy application process takes only 5 minutes.
Or make a quick online enquiry Now. One of our Experience Finance Team will call you shortly.
Motorbike Loan Calculator
Use our motorbike loan calculator to estimate your repayments. Select either fortnightly or monthly repayment. The calculation is based on your estimate of your motorbike finance amount, term of loan and an approximate interest rate. Your interest rate will be dependent on your current credit file, your residential and employment history as well as the year, make and model of the bike you are purchasing. The newer the bike the more competitive the interest rate. The type of bike can also affect your interest rate. For example, high performance sports bikes may be seen as having a higher risk than touring bikes.
For detailed motorbike reviews, check out MCNews Australia. This site offers a comprehensive look at various motorcycles, from road bikes to dirt bikes, helping you make informed decisions about your next ride.
