Motorcycle Loans (Secured with Low Interest)


I am in the market looking for a motorcycle loan possibly a secured one. So can get low interest. Any suggestions with best options??

Did anyone has any experience with applying with these loans on their own rather than dealer one?

Thanks in advance.


  • +2 votes

    Secured will require fully comprehensive insurance on the bike which may mean premiums up to half the cost of the bike each year depending on your age…

    • +4 votes

      Unsecured loans usually mean little to no insurance because the premiums are dearer each year than the bike repayments and then tossing the bike up the road way like a bowling ball.

      As a motorcyclist for many many years, if you have to finance a motorcycle, you can’t really afford it or you are buying way outside your budget. The only things I can think of that depreciates faster than motorcycles are boats and caravans.

      But like coxjon said here, do some searching around for insurance on that bike for yourself first. You may need another loan just for the premium…


        I prefer comprehensive insurance for motorcycles because of the higher probability of damaging. So I always have a comprehensive insurance regardless of premium.


          Well, before you get any loans, find the bike you like and get a few quotes on "comprehensive insurance with secured loan" for that bike. You may want to be sitting down if you are under 25 or have had your motorcycle license for less than 6 years.


    Sometimes unsecured loans end up being better - I know someone getting quoted around 12-15% (comparison rate) from dealership finance but managed to get a bank loan at 9.99%. I've heard yamaha finance is one of the more reasonable ones though.

    But completed agree with above, high depreciation on newer bikes/unforeseen maintenance on used bikes makes it a very poor finance purchase


    Didn't you just buy a bike a year and a half ago? What happened to that bike?


    I called Natloans, a broker, and their best deal was with the racv. I then called the racv and got a better rate because i am a member. I called another broker who couldnt beat the racv deal. I do have to have full comprehensive insurance, which costs $22 a month, but would have it regardless of insurance in case of accident, theft etc.


      Thanks for you help I will give RACV a yell. Just checking did your credit report took a hit because you went to shop different brokers?


        I didnt actually apply with the brokers (only asked for their best rate) so there was no credit inquiry. I assume racv did a credit check. That was 2 months ago - might be worth starting with racv and then comoaring with natloans.

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