Itching to get on the open road? Motorcycle loans can appear complex at first. Thankfully, at Rapid, we help get you a green light with our bike loan repayment calculator.
Use our bike finance calculator to discover your dream motorcycle finance solution. The key components of a bike loan include the loan amount, the interest rate, the loan’s length and the repayment frequency. Adjust these settings in the bike loan repayment calculator to find out how much you can borrow, how much you can afford and how long it will take you to pay.
Ready to ride? Call us to speak to a loan specialist. Our friendly team will discuss what is possible and match you with a bike loan and repayment solution. Once the loan has been sorted, you can get back to the fun part – hitting the wide open road. Can you hear it calling?
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Please note: This is an estimate provided for illustrative purposes only, and is based on the accuracy of information provided. It does not constitute a quote. Additional fees and charges may apply dependent on your individual circumstances. Fees such as early repayment costs and establishment fees are not accounted for in the examples of weekly repayments. Interest rates may be subject to change throughout the term of the loan.
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The motorcycle loan calculator allows you to estimate your loan repayments based on various factors such as loan amount, interest rate, loan term, and payment frequency. You can input these details into the calculator, and it will generate an estimated repayment schedule.
Here's how it works:
Rapid Finance provides a free credit check report, helping you understand your financial standing without affecting your credit file. We can also assist in improving your credit profile over time as part of our service.
Yes, it is possible with bad credit. Rapid Finance specialises in finding finance solutions for individuals with bad credit or other challenging financial circumstances, which many lenders may find too difficult or risky. Our large lending panel includes specialist lenders who are willing to offer motorcycle loans with bad credit.
To check your eligibility for a motorcycle loan, you can start by completing our Free Financial Assessment form on the motorbike loans page. Our dedicated finance professionals will review your information and see how we can assist you.
You must take home over $700 a week and be employed to qualify for motorcycle loan through Rapid Finance.
No, that's not necessary.
While saving a deposit can potentially improve your loan terms and possibility of approval, Rapid Finance understands that not everyone can save a large deposit, and sometimes you may need the vehicle quickly. We work with individuals with various financial situations, including those who may not have a deposit saved.
At Rapid Finance, we generally require borrowers take home over $700 per week, in order to qualify for a bike loan.
The amount you could borrow will be impacted by how much 'disposable income' you have available to you each week. Disposable income is the money you have left, after all your regular expenses have been removed.
Several factors can influence the interest rates offered for motorcycle loans, including your credit score, employment terms, loan term, loan amount, deposit and the type of loan (fixed or variable rate).
At Rapid Finance, we can work with you to present your application in the best light to our panel of lenders, so you could get a good deal, regardless of your credit history or employment situation.
Your credit score plays a significant role in determining the interest rate you qualify for on a motorcycle loan. A higher credit score typically results in lower interest rates, while a lower credit score may lead to higher rates.
Fixed-rate motorbike loans have a set interest rate for the duration of the loan term, providing stability and predictability in repayments. Variable-rate bike loans, on the other hand, have interest rates that can fluctuate based on market conditions, potentially affecting your repayments over time.
Negotiating the interest rate on a motorbike loan involves presenting your financial profile to lenders and advocating for competitive terms. Rapid Finance acts as an intermediary, leveraging its relationships and expertise to negotiate lower rates on your behalf. By highlighting your strengths, exploring multiple offers, and engaging in strategic negotiation, we aim to secure the most favourable terms for your loan that we can.
The typical loan term for motorcycle financing in Australia can vary depending on factors such as the loan amount and your affordability. Rapid Finance offers flexible loan terms ranging from 2 to 7 years, allowing you to choose a repayment period that is affordable and that suits your budget.
The loan length, or term, can significantly impact your motorcycle loan repayments. A shorter loan term typically results in higher monthly repayments but lower overall interest costs, while a longer loan term may have lower monthly repayments but higher overall interest costs. Rapid Finance could help you understand how different loan lengths affect your repayments and find a loan package that suits your needs.
Some lenders may charge penalties for paying off a motorcycle loan early, but Rapid Finance works with many lenders who offer flexible loan terms without early repayment penalties. We can help you find a loan that suits your needs and allows for early repayment if desired.
Rapid Finance offers personalised guidance and support to help you improve your credit score over time. We can help identify errors in your credit report, provide tips and strategies for managing your finances responsibly and building a positive credit history, ultimately improving your eligibility for better loan rates in the future.
To improve your credit score and qualify for better motorcycle loan rates, you can take proactive steps to manage your finances responsibly and build a positive credit history. Here are some strategies you can implement:
By following these strategies and maintaining good financial habits, you can gradually improve your credit score and increase your chances of qualifying for better loan rates in the future.