Secured Bike Finance
With secured bike loan, the bike itself is the security – if you don’t pay, then the bike can be repossessed after a period of defaults. Although interest rates are normally cheaper with this type of finance, we always recommend looking at cheap, effective ways to secure yourself for any unforeseen circumstances.
Unsecured Bike Finance
Unsecured bike finance will be processed as a personal loan. These often have higher interest rates but can give flexibility in not tying encumbrances to the bike. We recommend Personal Loans through the main banks and can provide bike loans to all Australians with good credit ratings.
No Deposit Bike Finance
No deposit bike loans are available, though we do recommend making a down payment if you can, as this will reduce your payments and also the interest that you pay.
Although it might seem tempting to sell your old bike, you might find you get a better deal on a trade-in when you buy your new motorcycle.
Here at Finance EZI, we will make sure that you get the best deal possible!
Fixed Rate Bike Loans
If you are looking for a bike loan, try to get one where you have a fixed interest rate so that your repayments remain the same all the way through. You don’t want to find yourself paying more when you have budgeted for the maximum you can afford to repay each month.
Older Motorbikes
The bikes build date at the beginning and end of the loan could be a factor; finance companies do prefer the bike to be no more than 12 years old when the loan contract is over.
Older motorbikes are ok, but limit the number of lenders to choose from. Generally if you are seeking a four year motorbike loan, you should make sure it is no more than eight years old when you buy it. We recommend checking with Finance EZI before making an offer if it is any older. Finance EZI will discuss this with you if you call us, and if you must have that fabulous motorbike, then we will find a solution for you.