Get out on the open road sooner rather than later.
At Amfin, we offer a range of motorbike financing structures and interest rates, with a quick and simple application process to get you your dream motorbike. Finance any motorbike on the market from Harley Davidson, Yamaha, Suzuki, BMW and more.
What is Motorbike Finance and how does it work?
Motorbike finance is vehicle finance specially related to the purchase of motorbikes. It is typically a secured loan where the lender will use the motorbike as collateral for the loan amount.
Motorbike finance can range in value between $5,000 – $100,000 and the loan terms for motorbike will vary between 1 -7 years.
Unsecured personal loans can also be used to purchase a motorbike. By speaking with an Amfin consultant, our team member will work with you to find the right loan to suit your needs.
What can I include in my Motorbike Finance?
Depending on your situation and loan agreement, you may be able to finance your motorbike for more than the price of the asset to cover additional costs. Additional costs to consider associated with your motorbike purchase may include:
- Riding gear
- License fees
- Other upfront costs you will need to pay.
Do I need a Motorbike licence?
A licence is required to operate a motorbike in all Australian states. The requirements and processes to obtain a motorbike licence vary from state to state in Australia.
Fees involved with Motorbike Financing:
The fees and charges associated with a motorbike loan may vary depending on the motorbike and lender. Common fees include:
- Application fees, also known as upfront fees
- Account-keeping fees
- Early exit fees
- Redraw fees
If you plan on paying back a finance loan before the end of term, you will want to disclose this to your Amfin consultant upfront so that we can select a lender for you that minimises early exit fees. We will always look at what the best option is for you based on your entire brief.
Finance for a second-hand Motorbike:
If you are looking to purchase a second-hand motorbike, you may still be eligible for a secured motorbike loan depending on a few different factors. To determine whether your purchase will be eligible, elements to consider include:
- the make and model of the motorbike
- the current financial value
- the age of the motorbike
Motorbike finance may also cover private sales as well as second-hand bikes. Should the bike you are interested in not qualify for a secured motorbike loan, you can still pursue a unsecured personal loan to purchase the bike you are interested in.
When you apply for Motorbike Financing, you should have the following documents ready:
- 100 Points of ID, such as a passport or driver’s/bike licence and Medicare card.
- Employment details, including your employer’s name and contact details as well as copies of recent pay slips
- Financial details, including information about your assets, debts, income and liabilities
- For self-employed individuals, you will need to have supplementary financial documents
How do I apply?
If you would like to know more or need assistance determining the best equipment financing solution for you, one of our experienced finance consultants are happy to assist, contact us today.
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We have friendly and experienced team members ready to help with your finance needs, whether they be business or personal.
Experience the Amfin difference. Contact us for a no obligation chat today.