Motorbike Loans
Get the wheels turning on your motorbike finance deal by applying with us today.
Get approved for your motorbike finance
Motorbikes can be a great way to get from A to B, enabling you to enjoy the open air on the road and presenting a more cost-efficient alternative to a car. RoadLoans is here to make your dreams of owning your next motorbike a reality by helping you find (and get approved for) the most affordable finance deal available.
We’re with you every step of the way, with your designated RoadLoans finance consultant helping you compare offers from a wide range of over 30 lenders nationwide for new and used models. You can start the application process with us today by getting a quick and easy quote right here.
Simple online application
You can apply and get approved for motorbike finance without having to leave the comfort of your home during the process.
Get help from the experts
Our finance consultants have spent years helping people just like you get approved for the best finance deals available.
Buy any bike around Australia
You aren’t limited to motorcycle sales in your hometown, city or state; we can help you purchase models from across the country.
The features and benefits of motorbike finance
100% finance available
You don’t need to pay a deposit of any kind if you don’t wish to on your loan, with lenders able to fund the full cost of the motorbike purchase, as well as cover common on-road costs.
Highly competitive interest rates
Because these loans are secured in nature, you can access lower rates than you’d be able to if you took out an unsecured loan, with your consultant helping you find the lowest.
One to seven-year terms
You can choose the period over which to repay your loan, with terms available for as little as one year up to a maximum of seven enabling you to pay it off at your speed.
Wide range of bikes available
We can help you finance a variety of different types of bikes, from cruisers to quad bikes to sports bikes and everything in between, new or used.
Fixed repayments across your term
You won’t have to worry about your repayments rising month to month and costing you more overall, as these loans come with fixed interest rates to facilitate more accurate budgeting.
Commercial solutions available
It’s not just standard consumers who can buy motorcycles for private use, as we can help you purchase or lease one for your business if you’re looking to use it commercially.
The RoadLoans motorcycle finance application process
Complete your quick quote and apply
First of all, tell us about yourself, your financial situation and why you need your loan. From there, you can choose to submit an initial application to us.
Discuss your options with your consultant
Once we have your application, your consultant can get to work comparing lenders and loans for you. They’ll be in touch to talk through your options soon after.
Let your consultant do the heavy lifting
Your consultant will get to work preparing and submitting your application to your lender in line with their requirements, which can be approved in one business day.
Sign your contract and take ownership of your bike
You’ll be sent a loan contract to sign and return soon after you’re approved, after which the funds can be sent to your seller, who can pass the bike on to you.
Motorbike finance explained further
How do I qualify for motorbike finance?
Each motorbike loan financier is different when it comes to the specific eligibility requirements which are set in place for applicants to meet. However, while minor specifics may vary, the key criteria will remain the same across the board. The main areas to meet when applying for your motorbike finance are:
- You must be at least 18 years of age
- You must be an Australian citizen or permanent resident
- You must be earning a stable income (enough to support your loan payments and at least $26,000 per year)
- Your motorbike must meet your lender’s age and condition requirements (can finance up to 20 years old, although there are solutions for older models
- You mustn’t be under a bankruptcy, Part IX debt agreement or court judgment (although bad credit solutions are available)
On top of these points, you’ll also be required to supply a series of documents so we and your lender can verify that the information provided in your application is accurate. The main documents you’ll need are:
- Proof of identity via your driver’s licence (front and back)
- Most recent two payslips
- Information on your current assets, liabilities and expenses
- Your application form (through RoadLoans)
- Your signed consent form and credit guide (through RoadLoans)
- Most recent 90 days of bank statements may be required
What motorbike finance features should I compare?
There are several key features which you should look towards when searching for the best motorbike loan available. These apply across the board, regardless of whether you’re buying a two-wheel ride or financing a caravan purchase. Fortunately, your RoadLoans consultant will be doing much of the hard work for you and prioritise your needs when comparing offers from our wide panel of lenders. The major factors to consider when completing your car loan comparison are:
Interest rates and fees
The two major factors determining the cost of your loan, you should always try to lock in the lowest rate and fees available. Even small differences between rates can result in a significant saving overall, so it’s important to keep it front of mind. There are several fees which may apply, from establishment (up to $700) to ongoing (up to $20 per month) and early repayment fees (up to $600 or more, depending on the size of the loan and the remaining term). Your consultant will keep a close eye on these when comparing your options.
Comparison rates
A loan’s comparison rate is a figure which is more representative of the total cost of your loan compared to the interest rate alone. This is a percentage which incorporates both your interest and the fees which apply, enabling you to calculate its cost more accurately before you apply. However, this won’t include fees which may only apply in certain situations, such as early and late payment charges.
Motorbike eligibility requirements
Not all lenders will have the same requirements when it comes to the age and condition of your motorbike. Some lenders will approve finance for ex-write-off vehicles, while others won’t. Additionally, while we can help you get finance for models 20 years or older, not all lenders will extend their range that high. Your consultant will be sure to only consider lenders who can approve finance for your model.
Minimum and maximum term lengths
Picking out the right loan term is important, as it allows you to strike a balance between what schedule is most comfortable for you and which option is cheapest. The sum total of our lenders allows you to apply for between one and seven years to repay your bike loan, but some will individually implement higher minimums of up to three years and lower maximums of five years.
Minimum loan amount
While this won’t generally be an issue if you aren’t putting forward a substantial deposit, it’s also worth considering whether your lender can offer a small loan amount should you need one. For instance, while some lenders may allow you to take out a $5,000 loan, others may enforce a $10,000 minimum. Of course, your consultant will only consider those who offer the amount you need.
Top tips to help save money on your motorbike loan
Choose a shorter finance term
By selecting a shorter repayment term, you can increase your savings. For instance, a $30,000 loan at 5.5% p.a. with $10 monthly fees would set you back $4, 982.09 over five years, but only $3,969.32 over four years.
Pick out a newer model
Lenders typically prefer new or near-new models when it comes to all types of vehicle finance. If you choose a new motorbike or one less than three years of age at the time of purchase, you’ll often be rewarded with a better rate than you’d receive on an older used model.
Put up a deposit on the motorbike
Paying a portion of your motorbike’s cost upfront can save you a significant amount throughout your loan term. On a $25,000 loan over three years at 6% p.a., a $5,000 deposit would save you almost $500 in interest alone across your agreement.
Apply with RoadLoans
The simplest way to save on your loan is to apply with us. We’ll compare offers from our vast lender panel and draw on our relationships with financiers around the country to potentially find great deals you may not have picked up on if you were to survey the market on your own.