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Motorbike Finance

Work out how much you can afford every month

BadUnstable address history, unconfirmed by electoral roll. Recent employment or self-employment and periods of unemployment. Over credit card limit and late on mortgage, loan repayments. Recent or current late payments, defaults or repossession registered. Recent County Court Judgements, Bankruptcy or similar. No bank account. PoorFrequent changes of address with patchy electoral roll record. Recent changes in employment or self-employment. Recent (and frequent) credit applications. High level of debt to estimated income. Recent late payments/credit cards over limits. Old defaults or County Court Judgements. AverageFrequent changes of address with patchy electoral roll record. Recent changes in employment or self-employment. More frequent credit applications. High level of debt to estimated income. Occasional late payments or credit cards over limits. Old defaults or County Court Judgements, especially of small value. GoodResident at address for a long period with electoral roll record. Home owner or long term tenant. With same employer or self-employed for a long period. Long credit history with mortgage, loans and credit cards. Infrequent credit applications. Credit with few missed payments, defaults or County Court Judgements. ExcellentResident at address for a long period with electoral roll record. Home owner or long term tenant. With same employer or self-employed for a long period. Long credit history with mortgage, loans and credit cards. Infrequent credit application. Credit with no missed payments, defaults or County Court Judgements.
1000
12
8.0 6.8 5.9 5.2 4.9

Finance calculator summary

  • Credit Rating:

    excellent
  • Borrowing:

    £1,000
  • Payment Period in months:

    12
  • Cost Per Month:

    £85.38

* Indication purposes only

Apply now for your personalised, no-obligation quote

Representative example: Excellent credit

Borrowing £7,500 over 48 months with a representative APR of %, an annual interest rate of % and a deposit of £0.00, the amount payable would be: £ a month, with a total cost of credit of £ and total amount payable of £.

Quick and Easy Motorbike Finance

Apply today for quick and easy motorbike finance. We have access to a range of trusted motorbike lenders across the market. Quickly tracking down the most competitive deals. Arranging a loan that lets you pay for your motorcycle with a fixed monthly sum can be a great way to manage your finances over time.

We offer finance for all kinds of motorcycles and scooters. Taking out a loan to buy one is a viable option, and it shouldn’t take you too long to repay the loan. We’ll ask you more information about the motorbike you’re planning to buy as part of the application process.

One of the most attractive parts of motorbike finance is the ability to pay off the sum of money over a period of months. Even though £1,500 might not sound like a lot of money, it can be hard to get that together in one go. However, paying back £200 a month is a much easier way of managing payments. Also, paying back a finance plan on time and without any late payments is a great way to improve your credit rating, which can be incredibly helpful later in life.

How Is Motorbike Finance Options Calculated?

There is a very simple motorcycle finance calculator above that will give you a rough idea of how much you can loan, and how long it’ll take to pay back. You can borrow between £1,000 and £5,000, and choose to pay it back over a period of 1 month to 60 months. The calculator will also ask you for an idea of your credit rating, but this might be asked in more depth at a later point.

Putting this information into the calculator will help you get an idea of how much you’ll have to pay back on a monthly basis. Obviously the more you loan, the greater the monthly repayments will be. If you want to repay a lower amount each month, set a longer repayment time, although this will mean you’ll pay back more overall due to interest.

Although paying back a finance loan is a much easier option than paying the total in one go, it’s still important for you to make sure you can meet the monthly payments. If you miss several then not only will this damage your credit rating, it could result in your information being passed to a debt management company. If you’re considering finance as an option, check the repayments against your monthly earnings before proceeding with application. If the calculator says you need to pay back £90 a month, make sure it’s in your budget to do so. There are few things worse than taking on a finance deal you can’t actually afford to repay.

This is the main reason you’re asked for your expenses information when filing in the application form. Lenders like to be able to see that not only do you have evidence of making regular payments (bills and credit cards), but also that there’s enough difference between your earnings and expenses for you to repay the loan. However, this work is done using algorithms and so it’s much better for you to check manually before taking out the loan.

Who Is Eligible For Motorbike Finance?

This depends on the lender, but many are happy to offer motorbike finance to people over the age of 18. One of the biggest factors when applying for finance is your credit rating, and unfortunately no credit rating is almost as damaging as a poor one. If you don’t have a credit rating then lenders have no way of assessing your ability to repay the loan. However, there may be options available if you don’t have a credit rating.

Some lenders will consider a co-signer or guarantor (usually a parent), but this will depend one the lender’s terms and conditions. If you think your lack f credit might be an issue, then look into the options and see if any are happy to give you a co-signer. This essentially means that your parent’s name will be on the finance agreement, and that they would have to make any payments you miss.

If you’re under 18 then it’s very likely that no companies will lend to you. This is mainly because you’re not yet considered an adult, and there are various financial implications that go with that fact. If this is the case, you would need a parent or guardian to take the finance out in their name, or see if they can help you another way. Whichever you choose, make sure you ask their permission first.

Do I Have Options If My Credit Rating Is Poor?

This again will vary between lenders, and if your credit score is very low then you unfortunately might not be able to take out motorbike finance package on a motorbike. If this happens, then you would either need to work on improving your credit rating, or find another way to secure the money.

If your credit rating is low then there may very well be options available to you. It’s likely that lenders would charge higher interest, or set different repayment terms (which might be shorter or longer than you wanted). There also might be a cap on how much you can actually borrow, but this would be specific to each lender. The best thing to do is fill in the finance calculator and find out what your options are. Like other finance calculators this won’t affect your credit score until any actual checks are run against your name.

What Information Do I Need To Apply For Motorbike Finance?

In order to complete a motorbike finance application, you’ll need the following information:

  • Personal details (address, contact information etc.)
  • Employment details
  • Expense details (credit card payments, any other finance plans)
  • Bank details
  • Details of the motorbike or scooter you want to buy

We’ll then use this information to check your eligibility, and we’ll go from there.

What Happens Once I’ve Applied For Motorbike Finance?

You will be notified if your motorbike finance application was succesful. Providing your application is successful, the next step is for you to buy your motorbike. You can buy a motorbike from us or any other shop. If you decide to buy a motorbike fros us then the process is the same as with any other purchase. You put in your details and select delivery options, and we make sure to get the motorbike out to you as soon as possible.

Other Useful Information

As we mention above, we work closely with a range of lenders, specifically in motorbike finance. Although we have these close relationships, any finance applications you make are with that company, and not us. We will only pick things up again once the motorbike finance has been agreed. Much like with our insurance assistance, we act as something of a middle man to make the process as simple as possible for you.

Although each lender will have their own specific terms and conditions, one important thing remains reasonably consistent across the board – what happens if you crash. Granted, this isn’t something many people want to think about, but it’s always important to know where you stand in the event of a crash.

If your motorbike is repairable then this is dealt with as usual. Some finance companies may want to know you’ve been involved in an accident, but this will depend on the company. If your motorbike is written off in an accident however, then they’ll need to know. If you still owe finance on the motorbike this will need to be repaid by your insurance company before you receive any payout. For this reason it might be worth considering a fully comprehensive insurance package on a financed motorbike.

Once you’ve paid back the total amount in your finance package, then the motorbike is yours. Bear this in mind when setting your repayment plan, because if you set it at the maximum of 60 months then you need to expect to get 5 years worth of use out of the motorbike. If you don’t plan on using it for that long, then choose a shorter, but more expensive repayment plan. But as ever, make sure you can actually pay it back.