Buying a new model motorbike is high on the list for many riders. But for others, owning a rare, pre-owned, vintage motorcycle tops their wish list. Possibly both for many collectors and owners of multiple rides to suit their different purposes. Buyers seek to own classic models for many reasons including nostalgia, an appreciation of history and vintage goods, as a collectible for investment purposes or simply to be the proud owner of a sought-after motorcycle. Most vintage and collectible bikes are sold through specialist auction houses such as Shannons. With most auctions available online, buyers have access to international as well as local collections when they go under the hammer.
In their June Winter 2021 auction, Shannons Australia listed a number of highly sought-after motorcycles from a private collection. These included a British 1938 Matchless Model X, an Australian built Monarch 1913 Jap, a 1976 Kawasaki superbike, a 40th anniversary 2007 Honda and a selection of rare Triumph models. In November 2020, the Shannons auction featured an extensive selection of rare Ducatis.
When it comes to buying a classic motorcycle, especially at auction, many buyers will first be considering their options in terms of finance. While a price guide is listed by the auction house, the final selling price is dependent on the personal liking of the bidders. When purchasing at auction, an auction house will often require payment at the fall of the hammer or under other set timeframes. So buyers need to have their finance in order in order to meet the auction house commitments.
Loans for Classic and Rare Motorbikes
Jade Bike Loans offers finance for rare motorbikes of vintage, retro and more current age, purchased either at auction or privately, which are the most common sales for these types of motorcycles. If you are bidding on a motorbike in an overseas auction, we can assist with finance.
Our loans include:
Secured Bike Loan: This is the most commonly used type of motorbike loan and is popular for new and used current and late model rides. But it can also be used for purchasing vintage motorcycles where the lender accepts the goods as suitable security against the loan. With a secured loan, the goods are used by the lender as security against the credit extended.
With a secured bike loan, the interest rate is fixed as is the loan term. Together, that means a fixed monthly repayment. Additional payments are permitted and minimal break fees apply if the fixed loan term is concluded early. This can occur if additional payments are made or when the bike is sold prior to the end of the loan term. With rare bikes, an owner may look to realise a return on their investment if market conditions suit.
Unsecured Personal Loan: These loans do not have security by way of the goods being purchased and may suit buyers of vintage and collectible motorbikes. The buyer may not choose to put the bike up as security due to the perceived intangible value or the lender may not accept the goods as security. If the purchase is a restoration project, the buyer may not choose to offer the goods as security as the value is expected to increase as the restoration proceeds.
We can arrange unsecured loans at either fixed or variable interest rates. The loan term is fixed and fixed monthly payments can be secured. Additional payments are permitted and with variable interest rate loans, no break fees apply.
To see our current interest rates on both secured and unsecured loans compared with other lenders in the market, refer to our bike loan interest rate comparison table. This is a useful resource for not only comparing the types of loans and interest rates across a swathe of the lender market but also for deciding between a secured and unsecured loan.
Enter the amount of your loan and loan term in the comparison calculator and the repayment estimates will be displayed against each lender and loan type.
Tips for Buying a Motorcycle at Auction
With most classic motorcycles offered for sale by auction, prospective buyers can enhance and improve their own experience through some preparatory actions:
- Due diligence is a no-brainer. Ensuring you are confident with the providence of the goods is paramount. As is having full trust in the auction house. Most Australian auction houses are highly reputable with excellent credentials. Viewings are usually available prior to the auction so you can view the goods in person. If bidding on an overseas auction event that may of course not be possible.
- If bidding on an overseas auction, be aware of the currency exchange rate. Exchange rates can change on a daily basis, so be sure you know the auction house’s process for converting prices. At what stage of the sale process.
- If you intend to ride the motorcycle as opposed to collectible only, consider if it is or can be registered in your state or territory. If not, consider the costs involved in getting it rego-ready.
Check PPSR to register a security interest on the bike here. - We can include additional expenses in the loan, so consider what ‘extras’ you may like included. These may include auction house fees, costs of re-commissioning, costs of getting the overseas bike to Australia, import charges and local delivery expenses.
- Having a pre-approved motorbike loan is ideal for buying at an auction. We arrange loans based on an anticipated spend so buyers are full-equipped to bid with confidence. When the purchase is concluded, we finalise the total loan amount to the exact purchase price or preferred loan amount.
- Have our motorbike loan repayment calculator on your phone, so you can quickly convert prices to repayment estimates during the auction. You can even apply for a loan over the phone while at the auction or at the pre-auction viewing.
Whether you’re purchasing a rare current model or a classic collectible motorcycle, speak with Jade Bike Loans about the cheap interest rate loans we have to suit you and your purchase.
Discuss the options for finance with us 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.
