Adelaide Bike Finance Options.
If you’re looking at purchasing a bike; either new or used, from an Adelaide bike dealership, you’ll be wanting to find out what bike loans are available in Adelaide, what the repayments will be and if you qualify for bike finance.
Bike loans Adelaide can be applied for online and if you meet the lenders bike lending criteria, you could be approved the same day.
National Finance Choice SA (NFC SA) are bike finance brokers, that can assist you purchase bikes or other types of motorcycles such as scooters with either a secured personal loan product or unsecured personal loan product; arranging bike insurance at the same time too.
With secured personal loans for a bike – secured bike loans, the lender will take the bike as security; i.e. take a mortgage over the bike, until you have made all of the repayments, you will then own the bike freehold. In the case of unsecured personal loans for purchasing a bike – unsecured bike loans, the lender will not take the bike as security; or take anything else as security for that matter.
Due to the increased security to the lender, secured bike finance will generally attract a lower interest rate than unsecured bike finance.
The lending criteria for secured bike loans will not be as stringent as it will be for unsecured bike loans; which is generally only given to home buyers or home owners who have an excellent credit history, stability of at least 5 years in their employment and address and have a good record of savings. If you are applying for a secured loan for a motorcycle, you may be required to have a bike license to qualify for the loan in South Australia; most scooters can be ridden using your normal ‘c’ class license.
The bike lending criteria will vary from lender to lender; which is why it’s an advantage to use National Finance Choice SA (NFC SA) in Adelaide. NFC SA’s experienced bike loan brokers are aware of which lender from its panel is more likely to approve bike loan applications given your unique circumstances; increasing the chance of a fast approval.