As we discussed in a previous blog, the coronavirus pandemic has created issues around transport and commuting. To comply with social distancing regulations, the number of passengers on trains, buses, trams and ferries has been reduced significantly and some authorities are actually recommending that people revert to driving to work. After decades of promoting leave your car at home, travel by public transport this is totally unprecedented.
In preference to cars, as we also discussed in a previous blog, an urban-style motorbike or scooter would be ideal as an alternative to public transport and in many cases, get you to your destination faster than a car.
Many people will likely have the same idea. As people who have been working from home during the COVID-19 crisis start returning to their work places and rethinking their commute, there could very likely be an increase in demand for motorbikes. Good quality second-hand bikes will likely be highly sought after especially and buyers will need to be quick to snap up the best bikes. Following slow sales over the lockdown period, new dealers may have limited stocks of new bikes.
So buyers will need to be totally organised and well-prepared to ensure they secure the bike they want.
To ensure that you stay ahead of the rush, we’re giving you these tips for getting your motorcycle loan organised first so you can finalise your bike purchase faster.
Tip: Estimates on the Go
To get in fast for the best bikes for sale, you don’t want to waste time checking out bikes that are not within your budget when it comes to loan repayments. Comparing the advertised purchase prices of various bikes or the same bike from various dealers or sellers assists in narrowing down your selection. But knowing how that purchase price translates into monthly repayments on a cheap bike loan is even more helpful.
The Jade Bike Loans Calculator will assist you there. You’ll find it on our website and it’s worth keeping it open in another browser tab while you’re browsing bikes for sale online. It’s free and easy to use.
The calculator is laid out in standard online format with fields for you to enter your data. You enter the amount you want for your loan, the interest rate we are currently advertising for motor bike loans and the number of months/years you would like to pay off the loan. Then click CALCULATE and you’ll instantly see a monthly repayment figure based on the amounts you entered.
Easy, but…here is some tips so you get more value from our calculator.
- Total loan amount: this may be the total purchase price if the lender allows you a no deposit loan. But consider including extra to cover dealer delivery charges if buying a new bike, safety gear including new helmet and boots and rego.
- The estimate is only an estimate. The actual monthly repayment that your Jade consultant achieves for you cheap bike loan could be lower or higher than the estimate. Why? Because the calculator is a generic device and can’t allow for fees and charges which may be applied by certain lender or for specific conditions around your application. Read the disclaimer and t&c’s so you are fully informed.
- To check out repayments on another bike, just re-enter the data for that bike. You can quickly and easily see which bike works best with your budget.
- Loan term: some lenders will have maximum loan terms for bike loans but your Jade consultant will negotiate to achieve the terms that you want. The shorter the term the higher the repayments but the quicker you pay off the loan. The longer the term, the less you’ll have to pay each month but the longer it will take you to own the bike outright.
- Jade offers cheap interest rates as our company policy. The rate we advertise today for our cheap bike loans may vary by the time you secure your loan as interest rates fluctuate based on a number of factors. Your consultant may get you an even cheaper rate than advertised!
Tip: Pre-Approved Loan
Having an estimate ahead of time is great but having your Jade bike loan all approved and organised before you start bike shopping is a massive assist. We provide a pre-approved bike loan service which is available to all our customers.
As the name implies, it’s having your cheap bike loan processed and approved before you finalise your purchase decision rather than after.
The process is pretty much the same as when you apply for a Jade bike loan except you nominate a price range as the loan amount rather than nominate a loan for the purchase of a specific bike.
The same features apply with our Jade Pre-Approved Bike Loans:
- Jade’s cheap interest rates
- Fixed interest rates
- Fixed monthly repayments
- Fixed loan term
Knowing your loan is already approved gives you confidence to get in quick and make a deal on the bike of your choice. Once you’ve done the deal with seller, you simply contact your Jade consultant who will then finalise the paperwork for that bike.
Having a pre-approved loan gives you the edge by being able to settle the deal faster so you can stay ahead of the bike buying rush during these post-pandemic times.
To discuss a pre-approved bike loan, contact Jade Bike Loans and speak with one of our consultants. Call 1300 000 003