EOFY usually means great discounts and price reductions across a wide range of goods. However, the situation which has continued over the ‘pandemic’ years in conjunction with production delays due to the semi-conductor shortages globally, has put a bit of a dampener on EOFY deals this year. But a number of motorbike brands are offering great savings some with EOFY deadlines that can be purchased with cheaper motorcycle loans to add up to great buying.
Any savings found on a great EOFY price on your dream bike may be erased or diluted f you pay too much for your motorcycle loan. So the advice from ourselves as specialists in motorcycle finance is to consider any reduced priced motorbikes in conjunction with your bike loan.
To ensure you don’t miss the 30 June deadline on some of these offers, contact us first so we can get your motorcycle loan application underway and timed to be approved and organised before settlement on your new machine is due.
Currently Advertised Motorcycle Deals
To get your deal hunt underway, we’ve canvassed some of the leading brands for what is being advertised as discounted pricing at the moment. Of course, contact your local dealership in regard to availability and specifics.
- Aprilia is offering a national rideaway promo with reduced pricing on the Tuono 660 and 660L, RS 66 and 66L with savings of up to $3440 on offer. And the better news, the promo runs until 31 July this year, so more time to get into your local dealer for a test ride and buy.
- BMW-Motorrad is also offering savings of around $5500 – over $7000 on some models. The discounted models include the R18 variants – standard, Custom, Deluxe, Classic Custom, B and Transcontinental.
- If you opt for the FTR model from Indian Motorcycles you could be opting for free accessories to the value of $800. This offer may have a dual benefit. When including accessories and options on a new bike, our consultants can usually include those extra costs into the motorbike loan. By receiving the accessories for free, there is no need to include in the loan and as such the loan total can be reduced.
- Kawasaki is offering cash backs on a number of models. Plate clearances and run outs are also available with a cash back. These have a timeframe with a 30 June 2022 deadline. So how does a cash back work? No, the buyer does not actually receive ‘cash in the hand’. The ‘cash back’ which is relevant to a particular model is redeemed as a reduction on the purchase price. Essentially a rebate which is only available through participating dealers.
- KTM is running a number of promos on a number of models, while stocks last. Savings can be made on the price of selected off-road, street and adventure models.
- Royal Enfield is running an EOFY sale on the Continental GT 650 and the Interceptor 650. The offer includes discounted prices on kits as well as promo pricing.
Plenty to consider but not much time to do so. So be quick, check dealerships for stock by phone so as not to waste time and be prepared to possibly make the odd compromise to secure a reduced price motorcycle.
EOFY Motorcycle Loan
Loans don’t go ‘on sale’ as in EOFY or vary in their features and benefits. Our Secured Motorcycle Loan has a format which remains standard and unchanged regardless of the economic climate or other factors. The motorcycle is used as security against the loan and the loan is repaid in equal monthly instalments over the agreed fixed loan term.
We arrange our bike loans at a fixed interest rate so there are no surprises down the track when rates rise in general. And that is the one big factor which does impact bike loans – interest rates. The interest rate does vary with time and with RBA cash rate decisions as well as across the loan market.
While RBA decisions can happen in any month or year as they are dependent on economic conditions, the current rate rising cycle is happening in sync with the end of the financial year. So 2022 EOFY is significant to all loans including motorcycle loans with the RBA set to raise the cash rate again at its 5 July Board meeting.
This will have an effect on all lending markets and mean higher interest rates as we have seen with the May and June RBA rate hikes. Further rises may also occur later in the year. So getting in as quickly as possible both for the bike and the bike loan is strongly advised.
To assist with your buying, use our interest rate comparison chart and our Motorbike Loan Calculator. These tools can be used to estimate repayments on different motorbike pricing. Where the amount of the repayments is critical to the buy, these resources are must-haves in your buyer’s tool kit.
As is our professional services to assist in securing the cheapest interest rate and a motorcycle loan that has been tailored to your requirements. So get moving as 30 June is very, very close.
For an EOFY motorcycle loan, contact Jade Bike Loans at 1300 000 003
DISCLAIMER: IN REGARD TO ANY ERRORS OR MISREPRESENTATIONS IN THIS MATERIAL, NO LIABILITY IS ACCEPTED. THE DETAILS, CONTENT AND DATA ARE PRESENTED PURELY FOR GENERAL INFORMATIONAL PURPOSES FOR MOTORBIKE BUYERS AND THOSE SEEKING MOTORCYCLE LOANS. THIS IS NOT INTENDED AS THE SOLE SOURCE OF INFORMATION FOR FINANCIAL DECISIONS. IF SPECIFIC ADVICE IS REQUIRED AROUND FINANCIAL DECISIONS, READERS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.
