Motorcycle enthusiasts are usually keen to individualise and customise their ride to stand out and to express and display their individual style and personality. Manufacturers enthusiastically support this approach by offering a range of options, extras and accessories for buyers to consider. The range of accessories and options offered could be seen by some as a strategic move to keep the basic purchase price as low as possible. But with motorcycle manufacturers clearly passionate about their riders, it is more likely to be about offering options to suit varying riders and riding conditions. But these purchases should be considered in relation to the motorcycle loan.s
So selecting your motorbike is just the first stage in securing the ride you want. The buying process also involves considering what accessories you may want to include. But when it comes to those extras, should you buy at the point of purchase from the bike dealer or should you wait and add them after-purchase? What will offer the best option dollar-wise? When buying with finance, how do accessories impact the loan?
We take a look at some of the motorbike accessories currently being offered and consider the tips and hints on how to include these purchases in your motorcycle loan.
Accessories and Options Available
The priority extras that every rider will need are the essentials - helmet, leathers and other protective clothing. Depending on where you intend to ride, wet weather clothing and gear for the bike may also be highly advisable.
But that can be just the start, let’s look at what is on offer for pimping your ride.
CFMOTO for example has some new models to drop shortly and they will be offered with quite a wide selection of factory accessories. The models are the 800 MT Sport and 800 MT Touring adventure motorbikes.
The accessories on these models to be offered by CFMOTO cover luggage, protection, ergonomics and general areas. We’re talking, or more specifically CFMOTO is talking, aluminium luggage cases, waterproof luggage bags, headlight and spotlight guards, radiator protectors, crash bars, caliper guards, seat options, fender extensions and oversized rally pegs.
Another example is the Royal Enfield Himalayan. Buyers of this model also have a range of accessories to consider including aluminium panniers, large engine guard, hand guard, oil cooler guard, silver master cylinder guard, pannier mounting kit, range of touring seats and different reservoir caps.
BMW Motorrad is offers a range of packs on different models including a Commuter Pack which includes topcase, tank bag, TFT protection; a Touring Pack which includes similar items and the full luggage pack.
The BMW packs are priced in the $2000+ range while some individual items in the CFMOTO selection top out around $700 each. Add a few of those into your deal and your buying price will increase significantly.
Should you put those off and get them down the track? Should you search for non-factory accessories possibly at a lower price? We can offer a workable answer to those questions – include the accessories in your motorbike loan.
Loan Inclusions
Timing is important for your motorcycle engine but it is also important in regard to purchasing motorbike accessories and including them in your bike loan. It’s not so much about what specific items can and can’t be included but when the items are purchased that is the significant factor.
If you want the cost of motorbike accessories for your new bike to be included in the overall amount of your motorcycle loan, then they need to be bought at the same time as the bike and from the same supplier.
Speaking with your individual Jade Bike Loans consultant about your specific intentions is always the best recommendation. But as a general guide – order accessories when ordering your bike from the bike dealer so the costs will appear on the one sales invoice and as such included in the loan.
If accessories are purchased after you finalise your bike loan and settle on the sale, the costs would not be able to be added into the loan at that point.
- There is no difference on the interest rate on a motorbike loan if accessories are included in the loan. Our same cheap rates would apply.
- The same Secured Bike Loan would apply.
- Depending on the accessories and options purchased there may be an impact on motorbike insurance.
So if you want to save your cash and take advantage of current cheap interest rate motorbike loans, include the options you want when purchasing your new bike.
Calculating the Variations in Repayments
Loan repayments are calculated based on the interest rate plus the loan term and of course the total loan amount. So the inclusion of accessories will increase the total loan amount. Use our Bike Loan Calculator to work up rough estimates on repayments with and without the accessories you have in mind.
Simply increase the loan amount by the cost of the accessories while keeping the loan term constant to see the variation. If the repayments are above your expectations, vary the loan term to see how that works out for you. The calculator can be a massive help in making those critical buying decisions before heading to the dealership to place your order.
An even large assist is to source a pre-approved bike loans from us before committing to a sale. Your Jade consultant can source and structure your individual loan based on your estimated spend and for a loan term that will deliver repayments based on your requirements.
Accessorising your ride doesn’t have to mean parting with hard-earned cash upfront. Speak with us about including those optional extras in your loan.
For a quote on a 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.
