The usual approach to arranging a loan for a new motorcycle is to contact a lender and apply after deciding on the bike and agreeing on a purchase price with the dealer and even possibly paying a holding deposit and signing the purchase contract. Alternatively, and a very smart option is to contact a lender before committing to a purchase and arranging a pre-approved loan. At Jade Bike Loans we see this as a very practical approach to the motorbike purchase process.
But what do you do or what can you do if the bike is not actually available at that time to buy? What if it is to have limited availability and the manufacturer is calling for EOI – expressions of interest? This is the current situation with the upcoming release of the Honda CMX1100 Rebel which is due to arrive in the Australian market in the latter part of April. Honda has advised that the launch of this particular new model will be a ‘staged release’ and those buyers that are interested will need to submit an expression of interest on the company’s website to secure a bike.
How does applying for a motorcycle loan with Jade Bike Loans actually work with submitting an EOI? We’re addressing that question and taking a look at some of the specs of the all new Honda Rebel in this article. Let’s check out the Rebel first.
New 2021 Honda Rebel
The new Honda CMX1100 Rebel is reportedly packed with new technology which represents a major uptick in tech for this bike category. This is a 1084cc powered machine with the same parallel twin engine as in the Honda Africa Twin. It’s fuel-injected, liquid-cooled, 8 valve and compliant with Euro 5 standards.
The tech features include electronic cruise control, 6 speed manual transmission on the Rebel or 6 speed DCT on the Rebel DCT model plus ride by wire throttle. The DCT transmission features gear shifting via controls on the handlebars or selecting the full auto mode. ABS brakes, the company’s ignition security system and LED lighting are also include in the tech roll-out. Once the Rebel arrives, buyers will have a range of accessories – Street and Tour – to select.
With pricing yet to be revealed, buyers may be comparing this Honda Rebel to others in the middleweight cruiser class such as the Yamaha Bolt, Kawasaki Vulcan 900 or Suzuki Boulevard when deciding whether to proceed with a purchase.
But those riders that want to be the first in their group to have the latest model, especially one that is loaded with the latest tech, proceeding to lodge an EOI for a Honda Rebel will be the priority. So how do you go about getting a loan via an EOI?
Securing a Loan
The first step for most buyers is to have some indication of what their repayments may be on the bike they are considering submitting an EOI for. With reports naming the Rebel rivals as we’ve noted above, then that could be a good price range to work from. Refer to those manufacturer or dealer prices and use that as a guide to what you may expect when Honda releases the price for the Rebel.
Next, head to our Motorbike Loan Calculator or our Lender Comparison Calculator. Both calculate rough estimates but the Lender Comparison shows the different interest rates and loan options offered by several major banks and lenders, including Jade Bike Loans.
Enter the amount you expect you will be paying for the Honda Rebel and your preferred loan term. Achieving no deposit loans is possible so you can apply for a loan to cover 100% of the purchase price of the motorbike.
The device automatically calculates the repayment estimate according to the data you have entered. If you’re thinking of buying some optional accessories with the bike, add a little extra onto the loan amount to cover those costs and see how the repayments may vary.
If you’re happy with the repayment estimate which is displayed for Jade’s cheap interest rates on motorcycle loans, contact us for a confirmed quote. For those wanting confidence that their loan would be approved and sorted before submitting an EOI, your Jade consultant can proceed to arrange a pre-approved loan.
A pre-approved bike loan would suit the purpose of submitting an EOI for an upcoming model release. This process involves having your loan application assessed and processed through to being approved for the loan amount you’ve estimated. You’ll know what repayments you’d have on that amount, know your loan was approved and therefore have the confidence to proceed to submit your EOI.
If for some reason you change your mind when the bike is finally available, there is no obligation to proceed with the pre-approved bike loan. It will have a validity period which you will be advised by your Jade consultant.
Secured Motorbike Loan
A pre-approved motorbike loan would typically be arranged for a Secured Bike Loan. This is the most commonly used loan type for those buying motorcycles for their private use.
This loan type features:-
- Cheap interest rate on Motorbike finance which is fixed for the fixed loan term
- The bike is used as security against the loan
- The repayments are fixed
With Honda Rebel stocks set to be limited, the quicker you submit your EOI based on a pre-approved Jade bike loan the better.
To discuss applying for a pre-approved motorcycle loan to submit an EOI on a Honda Rebel 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.
