In this article we’re going to essentially talk about nothing. Zilch, nought, nil, zero. No, we’re not mimicking that popular 90s sit-com. We’re focussing on the significance of zero in terms of motorbike loans. Explaining and differentiating the meaning of the 0 when attached to consumer finance. When is a zero a hero and simply, mmm, nothing? At Jade Bike Loans we are intent on educating our customers and all those seeking loans and finance around aspects of consumer finance.
0% Interest Rates Offers – Zero or Hero?
We’ve covered the topic of 0% interest rate loan offers in other articles but it is an issue worth reinforcing. 0% interest rates are often offered on consumer loans, predominantly by dealers and manufacturers. Do these offers rate a zero or hero? In our opinion, this is far more zero than hero.
If presented with such an offer we strongly recommend two actions – analyse the loan terms and conditions and contact Jade Bike Loans for a quote to compare and for comment. 0% interest rate loans can be seen offered as a promotion by dealers or manufacturers looking to move stock by including their own finance options. These zero rates are usually only for a limited time after which a much higher rate or a comparable rate kicks in. Often the post-promo period rate is much higher than you could achieve elsewhere and the loan can end up attracted a much higher total interest rate cost over the full loan term.
Such offers can also conceal higher fees and charges or inflated purchase prices to cover for the loss of interest on the finance.
0 Deposit Bike Loans – Zero or Hero?
No deposit bike loans are another popularly seen offer. So what do our experts at Jade Bike Loans think – zero or hero? Well it can be both depending on how you look at the offer. From the hero point of view, Jade Bike Loans can achieve no deposit loans meaning our customers can borrow the total price of their new bike. Great news if that’s what you’re looking for.
From the ‘zero’ point of view or more like ‘nothing to see here’, lenders rarely request a deposit be paid on a loan. So a no deposit loan is usually advertised by sellers that are affiliated with a finance company. What the offer may mean is that they as sellers do not request you to pay a deposit.
A deposit requested by a seller is very different from a deposit requested by a lender. There will be occasions when individual lenders will not agree to offering a loan on the full purchase price of the bike to some applicants. Remember, your Jade consultant is working in your best interests and will be negotiating with our lenders to achieve the loan outcome that you want.
No Fees – Zero or Hero?
All consumer loans and business finance will include some fees and charges. The lenders and brokers are entitled to be compensated for their services in acquiring and organising your loan. Typical and standard fees include loan application fees and loan management fees. The amount can vary from lender to lender and your Jade consultant will be detailing all the fees included in your loan when providing a quote.
In addition to these standard fees, there is what is known as break fees. This is a charge applied by the lender when a loan is paid out before the end of the loan term. On Secured Bike Loans the break fees are usually minimal. On Unsecured Loans with variable interest rates there are no break fees.
If you see an offer for no fee finance – zero or hero? As with the 0% interest rates, look at the detail. The interest rate may be higher to account for no fees or the purchase price may be inflated.
No Hassle, No Time-Wasting Loans – Zero or Hero?
Hands-down – hero! Who wants to spend a heap time shopping around for bike loan quotes themselves and get caught up in the hassle that may be involved in the loan process. Jade Bike Loans saves you time and hassle by sourcing you the cheapest interest rate motorcycle finance quote from across our vast lending panel and handling the entire loan process.
Hero Bike Loans – Podium-Worthy
If you want a ‘hero’ bike loan, simply engage Jade Bike Loans to arrange your finance. We’re accredited credit providers and adhere to the Responsible Lending Guidelines as set-out under the consumer finance laws by ASIC. We provide genuine cheap bike loans based on the better interest rates we can achieve courtesy of our expertise, bargaining power and extensive network of banks and lenders.
Our consultants are available to provide you with a quick no-obligation quote and share their expertise and knowledge in regard to aspects and issues around bike loans and all consumer finance. If you have questions around whether or not you have been offered or are considering a zero or hero bike loan, feel free to give us a call for our expert opinion and analysis.
For a hero bike loan with zero hassle, contact Jade Bike Loans on 1300 000 003
DISCLAIMER: THE INFORMATION AND THE DETAILS WHICH HAVE BEEN INCLUDED IN THE ARTICLE IS PROVIDED AS GENERAL INFORMATION ONLY. THERE IS NO INTENTION THAT THIS BE THE ONLY SOURCE OF FINANCIAL INFORMATIOIN FOR THE READER. IT IS INTENDED AS GENERAL IN NATURE. IF A READER CONSIDER THEY REQUIRE FINANCIAL ADVICE AROUND THEIR OWN PERSONAL FINANCES, THEY ARE DIRECTED TO CONSULT WITH A FINANCIAL ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY ERRORS OR MISREPRESENTATIONS OF DATA, FIGURES, FEATURES AND INFORMATION AS SOURCED FROM OTHER SOURCES SUCH AS MANUFACTURERS OR GOVERNMENT DEPARTMENTS AND AUTHORITIES.