If securing finance is the only thing stopping you from hitting the open road on a new motorbike you have come to the right place. At QLD Money we work with leading financial institutions to bring you a range of highly competitive finance options. Get riding sooner with a personal motorcycle loan, lease or hire purchase plan from QLD Money.
Advantages of QLD Money Bike Finance
There are a number of attractive benefits associated with QLD Money Bike Finance.
- Flexible bike finance terms from 24-84 months
- Fixed or variable interest rates available
- Optional deposit (depending on the loan selected)
- Possibility to cover out-of-pocket expenses such as insurance and warranties
- Possible tax deductions for depreciation and running costs
- A balloon repayment can be used to lower repayments
- Private and Dealer sales
- Non Registered bikes allowed
Bike Finance Terms Explained
Unsecured. With an unsecured loan your motorbike is not tied to the loan in any way. It is a “personal loan” where the lender approves your finance without the security of a major asset. The car’s ownership is in your name completely. Incidentally, these loans may be used for many other purposes, so if you want to purchase a new bike, music equipment or a holiday, an unsecured personal loan could be the answer for you.
Secured. Under the terms of a secured loan, your motorbike serves as security for the lender. The lender approves finance based on the fact that they retain an interest in the bike until the loan is paid off in full. Interest rates on secured loans are typically lower than they are on unsecured loans.
Term. The loan term refers to the life of the loan, or the time you have to pay it off. A shorter term will see you pay off your loan sooner but will incur higher monthly repayments. Conversely, opting for a longer term will reduce your monthly repayments but will typically see you paying more interest over the term. QLD Money can help you choose a loan term that is right for you.
Balloon or residual payment. This is typically the final payment on your loan. However, a balloon payment may be used to reduce your monthly repayments, too.
