Earlier in the year we posted a blog on what new motorbike models were due to be released this year. As we are now a quarter of the way through 2021, we think it's time for a quick update on what eager buyers may still be awaiting arrival into the Australian market in coming months. But before we whet your appetite with new motorcycles, first we address a question, or a few questions, around motorcycle loans. After all, most buyers will be seeking a motorbike loan to enable them to make their purchase.
Purchase decisions are based on a range of personal factors but may also be influenced by the loan you can achieve to buy the bike. There are a wide range of different motorcycles available – adventure, touring, off-road, bobber, cruisers, racers and more. But at Jade Bike Loans we essentially offer only the one type of loan for the purchase of motorbikes for private use – the Secured Bike Loan.
So it’s not surprising that some riders may wonder, what, if anything, differs with our loan for different bikes? Is a motorcycle loan different for different types of bikes or different makes and models? Are loans different for learner riders compared with loans for experienced riders?
Most importantly, buyers may want to know if their choice of bike is going to cost them more with their bike loan. That could be a major influencer.
Motorcycle Loan Specs
The Jade Secured Bike Loan is a versatile type of loan which follows a pretty much universally accepted secured loan format. The motorbike is put up as security against the loan and the borrower repays the loan in equal monthly instalments.
We arrange our motorcycle loans at our cheap interest rates which are fixed, over a fixed loan term so the repayments are fixed. This format does not differ, regardless of the type of bike being purchased or the riding experience and capabilities of the borrower.
Our advertised interest rate is also standard across all types of new bikes and riders subject to individual lender requirements. You must of course be over the age of 18 to take on consumer credit and you need to have a job/income. You don’t need to have a motorcycle or driver licence to apply for a loan.
The variable factors can come with the differences with loan applications. Each loan application is assessed on an individual basis by your Jade consultant. People have different circumstances, different income levels, varying debt/asset ratios and different credit histories. The terms and conditions around a loan can vary depending on individual aspects of the application. If a lender has doubt over a person’s ability to meet the commitments of a loan for the amount requested, they may ask that the loan amount be reduced, ie a deposit paid. But where all the boxes are ticked to our lender satisfaction, we can achieve cheap interest loans at the terms that our customers are seeking.
To ensure that your Jade consultant can achieve you the cheapest interest rates as well as the loan terms and conditions that you want, applicants can prepare their documents with all boxes ticked and have a good credit profile. If you think you may have issues with credit, it could be worth requesting a copy of your credit report and addressing any issues that may appear in it. Some ‘issues’ are only removed when requested not always automatically after a certain time period.
Your Jade consultant will be assisting you with the paperwork for you loan and doing all the loan sourcing, talking to our lenders to get you the cheapest deal and of course, negotiating with lenders on the all-important cheap interest rates.
So cheap bike loans are real possibility regardless of the bike, so which new bike are you going to buy?
New riders will need to look for LAM models (learned approved model) such as the Ducati Monster 659. The low seat height is seen as particularly suited for learners and riders of smaller size. Experienced riders have their choice from the amazing makes and models available in Australia. The decision may come down to favourite brand, your style of riding, where you ride or it could be narrowed down to the dollars, if budget is a serious consideration.
When checking out different bikes, just enter the purchase price into our Jade Bike Loan Calculator for a quick estimate of possible repayments.
Still to come in ’21….
After a brand new model? Here are just a few of the makes and models due in Australia through the first quarter of 2021
- Aprilia RS 660
- BMW R nineT
- Honda CBR 600RR
- Honda GL 1800
- KTM 690 Enduro and SMC
- Triumph Trident, Tiger and Speed Triple
- Yamaha MT 09
We do offer pre-approved loans, so you are welcome to get in touch and start talking motorcycle loans with a Jade consultant whenever you’re ready.
For a loan quote to purchase any type of motorcycle, call Jade Bike Loans on 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 INENDED AS THE SOLE SOURCE OF INFORMATION FOR FINANCIAL DECISIONS. IF SPECIFIC ADVICE IS REQUIRED AROUND FINANCIAL DECISIONS, READERS SHOULD SEEK THEIR OWN FINANCIAL ADVISOR.
