If you are purchasing your bike for primarily business purposes – courier, delivery business, tourism and travel business or as your daily ride in carrying out any business operation – Jade offers the full range of commercial finance products.
These include Chattel Mortgage, Leasing and CHP and all can be structured to include 100% of the purchase price of the bike in the loan. That is, no deposit is requested by the lender.
If purchasing through a bike dealer, any on-road costs, rego and other dealer charges can also be included. In extending credit on a no deposit/100% bike loan, lenders take into account the valuation of the motorcycle compared with the total amount of the loan. This may be particularly relevant for second-hand bikes or custom rides.
Not having to pay a deposit allows you to conserve your cash funds for other purposes. But paying a deposit will reduce the overall amount of the loan and hence the monthly repayments.
No deposit motorbike finance is different from any deposit which may be requested by the dealer, private seller or auction house to confirm your purchase. Even when Jade arranges a no deposit bike loan for you, you may still have to pay a deposit to the seller.
In most cases, the seller deposit can be handled with a ‘holding deposit’. A credit card imprint or even holding cash until the seller receives the full payment from the lender Jade has arranged. On receipt of payment, the seller will void the credit card charge or return the cash to you
For personal motorbike loans, no deposit financing can be arranged with a Secured Motorcycle Loan. In deciding whether to ask for credit for the entire 100% of the bike purchase price, consider the condition of the bike and the projected value at the end of the loan term. It may be more astute to pay a deposit, reduce the financing amount and have the bike paid off sooner.
So don’t be misled by ‘special offers’ of ‘no deposit motorbike loans’ as an enticement to purchase. Jade motor cycle finance consultants are arranging no deposit bike loans as standard procedure. We can also offer pre-arranged and pre-approved finance to expedite your purchase and give you greater confidence to negotiate a better purchase price with the seller. Knowing you can settle quickly can be a good bargaining chip.
Speak with a Jade Motorbike Loans Consultant to discuss a no deposit finance solution for your motorcycle. Call 1300 000 003.
| Lender | Loan Product | Advertised Rate | Comparison Rate | Monthly Repayment |
| Jade | Motorbike Loans | 5.67%Secured | 6.10%Comparison | $575.39 MONTHLY |
| Heritage | Personal Loan | 8.49%Fixed Rate | 9.12%Comparison | $615.35 MONTHLY |
| Westpac | Personal Loan | 7.99%Fixed Rate | 9.18%Comparison | $608.15 MONTHLY |
| CBA | Personal Loan | 7.50%Fixed Rate | 8.20%Comparison | $601.14 MONTHLY |
| Bendigo | Personal Loan | 7.79%Unsecured | 8.51%Comparison | $605.28 MONTHLY |
| BOQ | Personal Loan | 10.99%Fixed Rate | 11.71%Comparison | $652.12 MONTHLY |
| ANZ | Personal Loan | 7.49%Fixed Rate | 8.18%Comparison | $601.00 MONTHLY |
|
Jade
Motorbike Loans
|
||
| 5.67%Secured | 6.10%Comparison | $575.39 MONTHLY |
|
Heritage
Personal Loan
|
||
| 8.49%Fixed Rate | 9.12%Comparison | $615.35 MONTHLY |
|
Westpac
Personal Loan
|
||
| 7.99%Fixed Rate | 9.18%Comparison | $608.15 MONTHLY |
|
CBA
Personal Loan
|
||
| 7.50%Fixed Rate | 8.20%Comparison | $601.14 MONTHLY |
|
Bendigo
Personal Loan
|
||
| 7.79%Unsecured | 8.51%Comparison | $605.28 MONTHLY |
|
BOQ
Personal Loan
|
||
| 10.99%Fixed Rate | 11.71%Comparison | $652.12 MONTHLY |
|
ANZ
Personal Loan
|
||
| 7.49%Fixed Rate | 8.18%Comparison | $601.00 MONTHLY |
THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, EFFECTIVE 21/05/2026 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
No deposit bike finance is securing a loan which covers 100% of the purchase price of the machine. The buyer is not required to make a deposit or downpayment. No deposit finance is subject to lender approval.
Where dealer and delivery costs are included in the total purchase price and included on the dealer invoice, they are usually included in no deposit finance. Where extra charges are applied or accessories purchased after purchase and after finance settlement, they would not be included in the loan.
Lenders do not stipulate that a deposit is required to be approved for a motorbike loan. The lender will stipulate the amount they are prepared to offer the buyer in a bike loan. Where that approved loan limit is less than the purchase price, the buyer will need to make up the difference with a downpayment or deposit.
Dealers will usually ask buyers to make a downpayment or deposit to confirm the purchase. This confirmation allows the dealer to proceed to prepare the machine for delivery. Where no deposit finance is approved, buyers may request the dealer to accept a ‘holding deposit’. The deposit held until the finance is settled. This may take the form of credit card details taken but the charge not processed on the card. Or any charge reimbursed on settlement.
It is normal practice for a dealer to request a deposit from a buyer. The deposit is required as confirmation that the buyer is proceeding. The dealer can then confidently start preparing the machine including obtaining registration. Where no deposit finance is being sought, the dealer deposit may be reimbursed back to the buyer at settlement or a downpayment take as a credit card guarantee.
Interest rates on no deposit bike finance may vary from rates for loans with a downpayment. Lenders consider the amount of the loan as a percentage of the price or value of the machine when making rate offers. A higher percentage, no deposit finance, may be seen as higher risk and attract a higher rate. All rates subject to individual application assessments and lender decisions.
Lenders will have their own criteria for approving no deposit motorcycle loans. Good credit scores and strong financials may be required. New model finance is more likely to be approved for the full purchase price than used motorbike loans.
No deposit motorcycle finance for used models will be subject to the lender’s assessment of the individual application. Lenders may be less willing to approve loans for full price of used models compared with approval for new models. The value of a used model may be assessed as less than the purchase price. Lenders will want to be assured that they will be able to recoup the full amount of outstanding payments should the borrower default on the loan.
Requesting a bike loan for the full purchase price may attract a higher interest rate. Lenders may assess these loans at a higher risk due to the higher loan amount.
The repayments on bike loans including the full purchase price are determined by the loan amount, interest rate and the term. Loans without a downpayment will have larger monthly payments than loans for less than the full purchase price.
