Compare Motorbike Loans | Motorcycle Loan Interest Rates - Best Find

Filter Results


Car loan amount

Term of car loan

Features

Type of vehicle loan

Car finance provider

Motorbike loans

for $30,000 over 5 years
ANZ
7.30%
8.15%
$605.37

ANZ Secured Car Loan

Expand info ˅

Special online only rate: 7.30% p.a. online fixed rate for an ANZ Secured Car Loan (8.15% p.a. comparison rate)

Overview

Application / establishment fees$350

Minimum loan amount$7,500

Maximum loan amount$500,000

Minimum term1 years

Maximum term7 years

Advertised rate7.30%

Comparison rate7.80%

Monthly repayments (approx)$605

Total repayments (approx)$36,322

Total interest repayments (approx)$6,322

Rate typeFixed

Secured or unsecuredSecured

GO TO ANZ

Other Fees & Information

Monthly fee$5.0

Other fees$0

Missed payment fee$20

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee$50+

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone1300 365 652

Data accurate as of13.09.2017

GO TO ANZ

Comparison rate warning

This comparison is for an ANZ Secured Car Loan with an amount financed of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO ANZ

Hide info ˄

RateSetter
8.60%
9.70%
$618.65

Personal Loan

Expand info ˅

Quick and easy car finance. Fast online application and friendly customer service. Secured and unsecured car loan terms from 6 months to 5 years.

Overview

Application / establishment fees$75

Minimum loan amount$2,001

Maximum loan amount$45,000

Minimum term0.5 years

Maximum term5 years

Advertised rate8.60%

Comparison rate8.72%

Monthly repayments (approx)$618

Total repayments (approx)$37,119

Total interest repayments (approx)$7,119

Rate typeFixed

Secured or unsecuredUnsecured

GO TO RateSetter

Other Fees & Information

Monthly fee$8.0

Other fees$0

Missed payment fee$0

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone1300 768 710

Data accurate as of17.09.2017

GO TO RateSetter

Comparison rate warning

RateSetter personal loan repayment terms range from 6 months to 5 years. Interest rates range from 3.7% (comparison rate 10.01%) to 9.6% (comparison rate 11.45%), subject to change depending on the rates offered by lenders in our Lending Markets. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO RateSetter

Hide info ˄

Harmoney
6.99%
7.69%
$603.79

Excellent Credit - Unsecured Personal Loan 5 year

Expand info ˅

Our online marketplace makes applying for a personal loan easy. Do it at the time that suits you, without worrying about face-to-face meetings.

Overview

Application / establishment fees$500

Minimum loan amount$5,000

Maximum loan amount$70,000

Minimum term5 years

Maximum term5 years

Advertised rate6.99%

Comparison rate7.69%

Monthly repayments (approx)$603

Total repayments (approx)$36,227

Total interest repayments (approx)$6,227

Rate typeFixed

Secured or unsecuredUnsecured

GO TO Harmoney

Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$15

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone1300 042 766

Data accurate as of13.09.2017

GO TO Harmoney

Comparison rate warning

Comparison rate of 7.69% p.a. is based on an unsecured personal loan of $30,000 over 5 years. WARNING: The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs, fees, government charges like stamp duty, and cost savings are not included in the comparison rate but may influence the cost of the loan. Subject to approval. Credit criteria, fees, charges, terms and conditions apply. Harmoney’s interest rates are offered based on the individual borrower’s credit assessment according to Harmoney’s credit scorecard.

GO TO Harmoney

Hide info ˄

ANZ
7.30%
8.15%
$605.37

ANZ Secured Car Loan

Expand info ˅

Special online only rate: 7.30% p.a. online fixed rate for an ANZ Secured Car Loan (8.15% p.a. comparison rate)

Overview

Application / establishment fees$350

Minimum loan amount$7,500

Maximum loan amount$500,000

Minimum term1 years

Maximum term7 years

Advertised rate7.30%

Comparison rate7.80%

Monthly repayments (approx)$605

Total repayments (approx)$36,322

Total interest repayments (approx)$6,322

Rate typeFixed

Secured or unsecuredSecured

GO TO ANZ

Other Fees & Information

Monthly fee$5.0

Other fees$0

Missed payment fee$20

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee$50+

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone1300 365 652

Data accurate as of13.09.2017

GO TO ANZ

Comparison rate warning

This comparison is for an ANZ Secured Car Loan with an amount financed of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO ANZ

Hide info ˄

RateSetter
8.60%
9.70%
$618.65

Personal Loan

Expand info ˅

Quick and easy car finance. Fast online application and friendly customer service. Secured and unsecured car loan terms from 6 months to 5 years.

Overview

Application / establishment fees$75

Minimum loan amount$2,001

Maximum loan amount$45,000

Minimum term0.5 years

Maximum term5 years

Advertised rate8.60%

Comparison rate8.72%

Monthly repayments (approx)$618

Total repayments (approx)$37,119

Total interest repayments (approx)$7,119

Rate typeFixed

Secured or unsecuredUnsecured

GO TO RateSetter

Other Fees & Information

Monthly fee$8.0

Other fees$0

Missed payment fee$0

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone1300 768 710

Data accurate as of17.09.2017

GO TO RateSetter

Comparison rate warning

RateSetter personal loan repayment terms range from 6 months to 5 years. Interest rates range from 3.7% (comparison rate 10.01%) to 9.6% (comparison rate 11.45%), subject to change depending on the rates offered by lenders in our Lending Markets. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO RateSetter

Hide info ˄

Latitude Financial Services
8.99%
10.09%
$628.93

Latitude Car Loan

Expand info ˅

It’s time to get yourself into gear with a car loan from Latitude. Whether you’re upgrading your car to make room for the kids or adding to the toys in the garage, we’ll put you in the driver’s seat sooner.

Overview

Application / establishment fees$295

Minimum loan amount$5,000

Maximum loan amount$100,000

Minimum term1 year

Maximum term7 years

Advertised rate8.99%

Comparison rate9.42%

Monthly repayments (approx)$628

Total repayments (approx)$37,735

Total interest repayments (approx)$7,735

Rate typeFixed

Secured or unsecuredSecured

GO TO Latitude Financial Services

Other Fees & Information

Monthly fee$10.0

Other fees$0

Missed payment fee$40

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$750

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone13 28 26

Data accurate as of13.09.2017

GO TO Latitude Financial Services

Comparison rate warning

Comparison rate based on a loan of $30,000 over 5 years. WARNING: These comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. If approved, we will confirm your actual interest rate in your loan contract.

GO TO Latitude Financial Services

Hide info ˄

ME Bank
12.49%
12.86%
$680.41

Personal Loan

Expand info ˅

Finances falling short of your goals? Get what you need, now, with a ME low interest personal loan.

Overview

Application / establishment fees$250

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term1 year

Maximum term7 years

Advertised rate12.49%

Comparison rate12.86%

Monthly repayments (approx)$680

Total repayments (approx)$40,824

Total interest repayments (approx)$10,824

Rate typeFixed

Secured or unsecuredUnsecured

GO TO ME Bank

Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$25

Repayment scheduleFortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone13 15 63

Data accurate as of02.04.2017

GO TO ME Bank

Comparison rate warning

Comparison rate calculated on an unsecured loan of $30,000 for a term of 5 years, repaid monthly. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

GO TO ME Bank

Hide info ˄

Beyond Bank
13.45%
13.71%
$693.55

Flexi Car Loan

Expand info ˅

Make your dreams come true with a car loan that offers maximum flexibility. Our Flexi Car Loan is available for the purchase of new and used cars.

Overview

Application / establishment fees$175

Minimum loan amount$5,000

Maximum loan amount$500,000

Minimum term1 year

Maximum term7 years

Advertised rate13.45%

Comparison rate13.71%

Monthly repayments (approx)$693

Total repayments (approx)$41,613

Total interest repayments (approx)$11,613

Rate typeVariable

Secured or unsecuredSecured

GO TO Beyond Bank

Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 236 344

Data accurate as of02.04.2017

GO TO Beyond Bank

Comparison rate warning

The comparison rates are calculated for a secured loan of $30,000 with monthly repayments over a term of five years. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO Beyond Bank

Hide info ˄

St.George Bank
12.74%
13.81%
$683.29

Variable Secured Personal Loan

Expand info ˅

You can use the car you buy as security for the loan, which means you’ll get the benefit of a considerably lower interest rate than you might with an unsecured loan.

Overview

Application / establishment fees$195

Minimum loan amount$3,000

Maximum loan amount$80,000

Minimum term1 year

Maximum term7 years

Advertised rate12.74%

Comparison rate13.05%

Monthly repayments (approx)$683

Total repayments (approx)$40,997

Total interest repayments (approx)$10,997

Rate typeVariable

Secured or unsecuredSecured

GO TO St.George Bank

Other Fees & Information

Monthly fee$12.0

Other fees$0

Missed payment fee$9

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$150

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone13 33 30

Data accurate as of17.09.2017

GO TO St.George Bank

Comparison rate warning

The comparison rate is based on a loan of $30,000 and 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

GO TO St.George Bank

Hide info ˄

Commonwealth Bank
12.99%
13.86%
$686.08

Fixed Rate Personal Loan

Expand info ˅

We have dropped the rate on our 5 and 6 year loan terms.

Overview

Application / establishment fees$150

Minimum loan amount$4,000

Maximum loan amount$50,000

Minimum term1 year

Maximum term7 years

Advertised rate12.99%

Comparison rate13.23%

Monthly repayments (approx)$686

Total repayments (approx)$41,164

Total interest repayments (approx)$11,164

Rate typeFixed

Secured or unsecuredUnsecured

GO TO Commonwealth Bank

Other Fees & Information

Monthly fee$10.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone13 14 31

Data accurate as of02.04.2017

GO TO Commonwealth Bank

Comparison rate warning

Comparison based on an unsecured $30,000 loan over 5 years. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO Commonwealth Bank

Hide info ˄

Credit Union SA
13.60%
13.89%
$696.34

Variable rate car loan

Expand info ˅

The variable rate personal loan is unsecured.

Overview

Application / establishment fees$195

Minimum loan amount$5,000

Maximum loan amount$100,000

Minimum term1 year

Maximum term7 years

Advertised rate13.60%

Comparison rate13.89%

Monthly repayments (approx)$696

Total repayments (approx)$41,780

Total interest repayments (approx)$11,780

Rate typeVariable

Secured or unsecuredUnsecured

GO TO Credit Union SA

Other Fees & Information

Monthly fee$0

Other fees$0

Missed payment fee$10

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check feeAt cost

For used vehiclesYes

SponsoredNo

Telephone08 8202 7777

Data accurate as of17.07.2017

GO TO Credit Union SA

Comparison rate warning

Comparison rates are based on a secured loan of $30,000 with monthly repayments over a term of 5 years. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

GO TO Credit Union SA

Hide info ˄

Bank of Melbourne
12.99%
14.06%
$687.15

Unsecured Personal Loan

Expand info ˅

Buy the type of car or vehicle you want with interest rates from 12.99% p.a. (comparison rate 14.06% p.a.)

Overview

Application / establishment fees$195

Minimum loan amount$3,000

Maximum loan amount$80,000

Minimum term1 year

Maximum term7 years

Advertised rate12.99%

Comparison rate13.30%

Monthly repayments (approx)$687

Total repayments (approx)$41,229

Total interest repayments (approx)$11,229

Rate typeVariable

Secured or unsecuredUnsecured

GO TO Bank of Melbourne

Other Fees & Information

Monthly fee$12.0

Other fees$0

Missed payment fee$9

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$100

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 100 266

Data accurate as of13.09.2017

GO TO Bank of Melbourne

Comparison rate warning

The above comparison rates are based on an unsecured personal loan of $30,000 over 5 years and are only true for this example. Interest rate ranges and representative examples are: Based on an unsecured loan of $30,000 borrowed for 5 years with the minimum interest rate of 10.99% p.a. (11.88% p.a. comparison rate)

GO TO Bank of Melbourne

Hide info ˄

Macquarie Credit Union
13.90%
14.11%
$698.81

Used Car Loan 5 years +

Expand info ˅

With all the great features of our new car loan, this loan is designed for used cars over 5 years old.

Overview

Application / establishment fees$100

Minimum loan amount$1,000

Maximum loan amount$500,000

Minimum term1 year

Maximum term5 years

Advertised rate13.90%

Comparison rate14.05%

Monthly repayments (approx)$698

Total repayments (approx)$41,928

Total interest repayments (approx)$11,928

Rate typeFixed

Secured or unsecuredSecured

GO TO Macquarie Credit Union

Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesNo

SponsoredNo

Telephone1300 885 480

Data accurate as of02.04.2017

GO TO Macquarie Credit Union

Comparison rate warning

Comparison rate calculated on a loan amount of $30,000 over a term of 5 years. WARNING: These comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. If approved, we will confirm your actual interest rate in your loan contract.

GO TO Macquarie Credit Union

Hide info ˄

The Capricornian
13.95%
14.34%
$703.08

Unprotected Car Loan < 8 years

Expand info ˅

With flexible options and competitive interest rates you could be driving your dream car sooner than you think.

Overview

Application / establishment fees$250

Minimum loan amount$5,000

Maximum loan amount$75,000

Minimum term1 year

Maximum term5 years

Advertised rate13.95%

Comparison rate14.32%

Monthly repayments (approx)$703

Total repayments (approx)$42,184

Total interest repayments (approx)$12,184

Rate typeFixed

Secured or unsecuredUnsecured

GO TO The Capricornian

Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 314 900

Data accurate as of02.04.2017

GO TO The Capricornian

Comparison rate warning

This comparison rate is based on a secured loan of $30,000 loan over 5 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

GO TO The Capricornian

Hide info ˄

SocietyOne
12.55%
14.52%
$706.11

Car Loan - 5 years - Tier 3

Expand info ˅

If you're in the market for a new car, our personal loans can get you in the driver's seat sooner.

Overview

Application / establishment fees4.50%

Minimum loan amount$5,000

Maximum loan amount$50,000

Minimum term5 Years

Maximum term5 Years

Advertised rate12.55%

Comparison rate14.52%

Monthly repayments (approx)$706

Total repayments (approx)$42,366

Total interest repayments (approx)$12,366

Rate typeFixed

Secured or unsecuredUnsecured

GO TO SocietyOne

Other Fees & Information

Monthly fee$0

Other fees$0

Missed payment fee$35

Repayment scheduleMonthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone-

Data accurate as of18/01/2018

GO TO SocietyOne

Comparison rate warning

*Comparison based on a SocietyOne Tier 3 unsecured personal loan of $30,000 over 5 years. WARNING: The comparison rates are true only for the examples provided and may not include all fees and charges. Different loan grades, terms, fees or loan amounts might result in a different comparison rate.

GO TO SocietyOne

Hide info ˄

Arab Bank
14.00%
14.99%
$702.89

Unsecured Personal Loan

Expand info ˅

An Arab Bank Australia Personal Loan is a great way to purchase the car you want or need now, if you currently don't have the savings or cash to make your purchase.

Overview

Application / establishment fees$200

Minimum loan amount$2,000

Maximum loan amount$500,000

Minimum term0 years

Maximum term5 years

Advertised rate14.00%

Comparison rate14.31%

Monthly repayments (approx)$702

Total repayments (approx)$42,173

Total interest repayments (approx)$12,173

Rate typeFixed

Secured or unsecuredUnsecured

GO TO Arab Bank

Other Fees & Information

Monthly fee$8.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1800 64 64 84

Data accurate as of13.03.2017

GO TO Arab Bank

Comparison rate warning

The comparison rate is based on a loan amount of $30,000 and is calculated over a term of 5 years based on monthly repayments. This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

GO TO Arab Bank

Hide info ˄

NAB
14.69%
15.55%
$712.61

Variable Rate Personal Loan

Expand info ˅

Whether you're upgrading your ride or adding to your garage, a NAB Personal Loan gives you a great rate. If you are an existing customer and apply in- store by 2pm, you could walk away with your money that very same day

Overview

Application / establishment fees$150

Minimum loan amount$5,000

Maximum loan amount$55,000

Minimum term1 year

Maximum term7 years

Advertised rate14.69%

Comparison rate14.93%

Monthly repayments (approx)$712

Total repayments (approx)$42,756

Total interest repayments (approx)$12,756

Rate typeVariable

Secured or unsecuredUnsecured

GO TO NAB

Other Fees & Information

Monthly fee$10.0

Other fees$0

Missed payment fee$35

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone13 13 12

Data accurate as of17.09.2017

GO TO NAB

Comparison rate warning

Comparison rate calculated on unsecured loan amount of $30,000 over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

GO TO NAB

Hide info ˄

12345...
results per page

BestFind.com.au provides factual information in relation to financial products. While BestFind.com.au attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at time of publishing. The information published on BestFind.com.au is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with BestFind.com.au. BestFind.com.au recommends that you read the relevant PDS or offer documentation before taking up any financial product offer. For more information please see BestFind.com.au's Terms of Use and Services Guide.

Considerations when comparing motorcycle Loan

Applying for a motorbike loan is easy in today’s world as all banks and financial institutions out there are ready to give a loan to you to make you their customer and increase their clientele to stay in the race. Still, getting approval for your loan is not an easy matter, and several factors are considered by the banks to prove your eligibility. Under such conditions, you need to care for all the criteria and keep them in proper shape to get your loan approved quickly.

Amount of risk

When banks and financial institutions lend you their money to meet your need, they are putting their money at risk by giving it to a person they do not know well. All they can do is to judge your affordability and intention with the help of the documents that you provide to them. It is true that papers cannot say all about a person’s character. But they can at least judge your financial strength and your behavioural pattern and calculate the potential of getting their money back on time. Therefore, your credit rating is crucial in this respect to show the amount of risk involved.

Be realistic while borrowing for a motorbike

Supposing that you have a high credibility and scope for repaying a loan, it is utterly unwise to borrow money more than you require since you are getting it. Remember, the lenders out there are not doing you any favour as they are into business and want to earn a profit, just like any other business, regarding interest on the amount lent. More the number means more interest and therefore an enormous monthly bill. Choose an amount to borrow which is realistic and would suit your need as well. This way you would not face any hardship while repaying.

Preference by lenders

There are a few borrowers that the banks prefer to lend their money like those who are in stable employment. If you can portray through your authentic documents that you have continuous employment for a long time, you stand a better chance of getting approved for a motorcycle loan rather than the one who has been a regular job changer. Moreover, lenders also prefer a loan application for a newer bike rather than for a sued one as the new bike would be a better collateral having more resale value than an old and used bike.

Check credit record

Credit history is the most important thing to get a loan approved, and therefore you should check your credit report before applying for a loan and make amendments for any errors that may be in there. If you can show your savings record, it would be an added benefit to demonstrate your capacity to pay back along with your income document.

The finance industry is also competitive like any other, and therefore you should bargain for the best loan offer. Make sure that no additional or hidden fees added while comparing interest rates, so that you don’t end up paying more. Go for those lenders who are known in the market for their competitive rate and best of services to avoid unwanted surprises.

Ask questions to the lender

When you want to make the best deal, there are many things that you should ask the lender just to be safe and sure. Ask about the administration fees, if any, along with other bank fees and charges. Also, asking whether the loan is reducible daily or not, can extra payments be made at any time and what penal charges are there for it and much more. A reliable and trustworthy lender would not shy away to answer to such questions just to do business with you.

Shop around for your bike

Buying the best bike is also required when you want to take a loan as different bikes have a different sale and resale value and may also affect the potential for your credit approval. Therefore, you should shop around for the best bike and check out personally with more than one dealer to compare the price, service, and functionality of the bikes as well. There are factory backed dealers in Australia who offer major brands of quality bikes, but you can also check it out from several bike only websites and motorcycle press as well. This would help you to take an educated decision.

Test ride and negotiate

Once you have selected a motorcycle model, it is always better to test ride it, to know about the functionality first hand. You may also hire one and ride throughout the weekend as well just like BMW does from some of the best dealers in Australia. To make sure and be happy, you should at least ride for half an hour and on roads having different terrains. Negotiate on the price as everything has a bargaining capacity. You can also use the net to mail your specific requirements to dealers and find out their price as well.