When you want to get out on the road on a new motorbike, talk to the Loantec team about motorcycle finance Australia wide. We’ll help you with the best loan advice and bike loan options for any make or model motorbike.
After working with Loantec, you’ll quickly realise we make getting a loan easy. Our pre-qualification form streamlines the entire financing process, meaning you can get out on the road ASAP.
Let us take the stress of finding the lowest interest loan. All you’ll have to worry about is where you’ll be riding your bike to first.
Where Are You Getting the Motorcycle From & What Condition Is It In?
Before you go and get financing for your new bike, you’ll need to know whether you’re getting it from a dealership or buying it privately. The terms of your financing can change a lot depending on where you get it from. Of course, the condition of the motorcycle is also a factor that can alter the terms of the loan.
Getting Finance for A New vs Used Motorcycle
When you get motorcycle finance in Australia, the lender will typically use the bike itself as collateral against the loan. So, lenders prefer it to be new, as there’s less chance that it’s got a mechanical fault, or previous damage. Also, new bikes come with a warranty, so if anything does go wrong it’ll be covered.
There are advantages to getting a used motorbike though, primarily the lower cost. You’ll almost always pay less for a used bike unless you’re getting something that’s vintage or limited edition. This is helpful when getting a loan, as smaller amounts are usually easier to approval for.
Getting A Motorcycle from A Dealership or Privately
You’ll generally find that getting your bike from a dealership (new or used), will get you the best lending options. Most lenders consider dealerships as more trustworthy than a private seller and will feel more comfortable providing finance for these kinds of deals. But, if you’re paying less for a private sale and have a good credit history, your odds of being approved are just as high.
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Car and motorcycle dealerships are infamous for offering terrible financing options when you buy from them. Luckily, you’ve got the choice to get a loan elsewhere! When you talk to our team of Finance Technicians, we’ll analyse your financial situation and compare policies from more than 40 lenders to get you the best deal possible. To start the process, just fill in our pre-qualification form and we’ll handle everything from there.
Costs Involved in Buying a Motorcycle
There are many expenses involved in owning a motorcycle that you should account for when you apply for financing. Obviously, the biggest upfront payment is the motorbike itself, but if you don’t consider the additional expenses, you can find yourself in a difficult situation after getting the bike.
Insurance & Registration – Will you get comprehensive or third-party insurance? You’ll also need to factor in the price of registration. Some lenders require insurance and registration before processing the application. So, it’s important you consider these before finalising your financing.
Riding Gear – Before you hit the road, you’ll need to get some riding gear. Include the cost of your riding apparel into the loan to make it easier to get everything you’ll need. Some of the most basic gear includes a helmet, boots, gloves, and a jacket.
These costs can add up to a substantial amount, especially if it’s your first bike. When you apply for financing, take all these fees into account, and make sure your loan covers everything you need.
Here at Loantec, we have an extensive network of dealerships and lenders we work with. We can help connect you with dealers and specialists for all of your biking needs. From new apparel and finding the perfect motorbike, to securing the best finance, the Loantec team is here to help.
How To Get a Motorcycle Loan
We’ve made the process of getting a motorcycle loan easy. All you need to do is fill in our pre-qualification form and our Finance Technicians will take care of the entire process. We can handle all motorcycle finance Australia wide. Our team is experienced in a wide variety of lending options and will ensure you get the best possible deal for your needs.