Motorcycle Finance Australia

Bikes are financed differently from cars, and not always in the ways people expect. The amounts are generally smaller, which changes which lenders are interested, and the asset itself is assessed more closely. Our complete guide to motorbike finance covers the detail; this page covers what we arrange.

What we finance. Road bikes, cruisers, adventure and touring bikes, sports bikes, dirt and trail bikes, and scooters. New or used, from a dealer or a private seller.

Secured or unsecured. Most bike finance is secured against the bike, which generally means better terms because the lender's risk is covered by something it can identify and resell. On smaller or older bikes, some lenders prefer to lend unsecured instead, which is priced for that. Which applies depends on the bike and the amount, and it is worth knowing before you start rather than after. Our personal loans page covers both structures.

The gear question, which catches people out. Helmet, jacket, boots, luggage and accessories can usually be included in the loan, but only when they are on the dealer's invoice. Bought separately afterwards, they generally cannot be. If you want the gear financed, have it written into the one invoice before anything is signed.

Buying privately. Private sales are very common with bikes and they are entirely financeable, but the process is different: the lender pays the seller directly at settlement rather than handing you cash, and a PPSR search on the VIN before you commit is what tells you whether there is money owing on it. Our guide to buying privately with finance sets out how that settlement works.

Age and condition matter more than on a car. Lender limits on an asset's age are generally applied at the end of the loan term rather than the start, so a bike that qualifies today may not over a longer term. That is the single most common reason a bike application needs restructuring.

Learner approved schemes. Which bikes a learner may ride is set by each state, not nationally, and it affects resale as well as what you can legally ride. Worth checking your state's scheme before you commit to a particular bike.

What lenders assess. Income and its consistency, existing commitments including card limits whether drawn or not, and your credit file, on which every application is recorded whether approved or not. Pre-approval is worth having before you go shopping, particularly for a private sale, so you know where you stand. When comparing offers, use the comparison rate rather than the headline rate, and understand what a balloon payment does to the end of the term before you accept one.

Already have a bike loan? If the rate no longer looks competitive or the repayment is uncomfortable, refinancing may be worth looking at. The same timing rules apply as on a car loan refinance.

For other vehicles, see car loans, and for bikes bought through a business, chattel mortgages and low doc business loans are the usual path.

1. Tell us about the bike. Make, model, year, and whether it is a dealer or private sale. The asset drives which lenders will look at it, so this comes first.

2. We check the structure. Secured or unsecured, and what term the bike's age will support. We would rather tell you the term is limited now than have it rewritten after an application.

3. We work out what is serviceable. Not the maximum, the repayment that sits comfortably alongside your existing commitments.

4. We match it to a lender. From more than 40, the one whose criteria fit the bike, the sale type and your situation. One application, not five.

5. Approval, or pre-approval if you are still looking. Pre-approval is particularly useful on a private sale, where sellers want certainty.

6. Documents. Contracts issued for electronic signing, with the lender's interest registered against the bike.

7. Settlement. Funds go to the dealer or directly to the private seller, and you organise registration and transfer. We confirm the first repayment date so nothing surprises you.