Frequently Asked Questions at Aussie Bike Loans
We know the world of finance isn't always straightforward or easy to understand. It can be confusing learning how loans work and whether you meet the criteria for eligibility.
To help shed some light on the loan process, we have included some of the frequently asked questions we receive at Aussie Bike Loans. If you have any questions that aren't answered in the list below, please contact us.
Do you provide secured personal bike loans?
Yes! In fact this is our most common loan product provided. Minimum loan amount for a secured personal bike loan is $5,000 for bikes. The finance will be secured on your purchase at a fixed interest rate for a 5 year term (up to 7 years considered on request).
Aussie Bike Loans also provides a wide range of insurance products for motorcycles, and a unique second chance finance service for people with bad credit or just having difficulty getting a loan.
To get things started with your bike loan you can contact us or apply online.
Do you provide unsecured personal loans?
We do not offer unsecured personal loans.
Who can apply for a personal motorcycle loan?
To be eligible for a personal loan, you must be a permanent Australian resident over the age of 18, with a regular permanent income.
How long does it take to get approved for a loan?
A bike loan approval is usually obtained within 48 hours, following credit checks and verification of information that was provided with the application.
Contact Aussie Bike Loans to talk about the loan you need, or you can apply online to get started now.
Can I get my finance approved before purchasing?
Yes, providing you can give us an idea of what you’re intending to purchase. Getting a pre-approved bike loan before you go shopping is a good idea, allowing you more bargaining power on the showroom floor. Aussie Bike Loans will need to assess the total amount of finance against the current market value of the item. We must also approve your supplier, as there have been fraudulent vendors in the market place previously.
How long does a pre-approval last?
We can hold your pre-approval for 31 days. If you can't find the right motorbike within that timeframe, please contact us for an extension.
What are my chances of approval?
All lenders consider things such as if you’ve ever filed for bankruptcy, do you own a home, how much is your current income, how long have you been employed at your current job, how long have you lived at your current address, do you have a credit rating, what is your net worth, and so on.
Aussie Bike Loans will complete an application and make a preliminary assessment to ascertain your repayment ability and credit worthiness. This process is part of our responsible lending obligations and will take into account the security over the loan, your current debt level, your income, and your ability to repay the debt.
You can do some calculations yourself to determine your monthly budget. Simply deduct your expenses from your after-tax earnings. You can also use our helpful loan calculator to get an approximate idea of what your repayments will be, though it's best to contact us for a more accurate quote.
Are your interest rates competitive?
Aussie Bike Loans are representatives of a reputable credit provider who has provided competitive fixed rates on personal and commercial loans for over 30 years. We challenge you to try and find better service and a better result. By talking to us about your motorbike finance, you can rest assured that you'll get flexible loan terms with a competitive interest rate.
I’ve got a bad credit rating. Can I still get a loan?
Aussie Bike Loans strives to provide our customers with the most competitive offer on finance, however those considered high risk, with bad credit or ex-bankrupts may try the second chance product.
Our bad credit option takes different criteria into account in relation to approval, and is generally at a higher interest rate due to the higher risk. There are certain circumstances where we may not be able to provide finance. If you’ve had some trouble with credit in the past, please contact us to see if we can help you.
Do you provide bike finance for a private sale?
Dealer, auction, private sale and re-finance are all welcome. Some used and second hand bikes may require a vehicle inspection prior to payment, which you will need to discuss with our staff prior to purchase.
If you’re looking to purchase a new bike though, you should call Aussie Bike Loans before buying and get your finance pre-approved.
Do I need to provide anything with my application?
Each application requires current Australian identification documents such as a current driver's licence or passport (if you don't have a driver's licence), documents showing your current financial situation such as proof of income statements and bank statements, and your current residential address.
If you haven't been living at your current address for over 3 years, you will need to include details about your previous address.
When do I make my first payment? Can I make extra payments?
The first repayment will be due 14 days (if fortnightly) or one month (if monthly) after settlement of a motorcycle loan. Business bike finance applicants have the first monthly repayment due on the day of settlement. Remaining payments are deducted from your nominated bank account.
You can make additional payments of any amount at any time by cheque, cash, direct deposit and BPAY where applicable (some fees may apply). Have a look at our bike loan repayment calculator to see how making extra repayments can save you money.
Are there any application costs?
Motorcycle loans, and all loans in fact, have some ongoing account keeping fees which vary from Financier to Financier and State to State.
For accurate and up to date information please call 1300 769 999 (local call cost) to discuss this with one of our team members. Business applicants are subject to various other government taxes such as stamp duty, GST and other government charges – which vary for each state.
Before your application is completed, your Aussie Bike Loans account manager will provide you with a quote detailing any fees. This fee will be paid to Aussie Bike Loans from the proceeds of the total loan facility.
There is no fee if you do not proceed with any proposed loan or finance facility offered.
What does Aussie Bike Loans have to offer?
At Aussie Bike Loans we offer competitive rates for motorcycle finance and insurance. In addition to personal secured bike loans we offer commercial finance products including hire purchase and leasing for motorcycles, bikes, scooters and a range of other speciality vehicles. Whether you're purchasing a new or used motorbike, from a dealership, through a private seller or at an auction, we can help you to finance your new set of wheels.
Our flexible loan options and fixed rates makes Aussie Bike Loans a trustworthy alternative to the big banks and operate within the structure of our responsible lending responsibilities. We strive to deliver outstanding customer service to each of our customers both new and existing.
Have more questions?
If you have any more questions you can contact us on 1300 769 999 or using our enquiry form.
Don't be fooled by 0% bike loans
It may cost you more than expected. Read the facts about the dangers of getting locked in to a 0% loan. Read more