A Guide to Motorbike Finance

Looking to get finance on a motorbike? Motorbikes can be just as costly as cars, so not everyone can afford to buy one outright. But there are many different options available, which can make finding a suitable motorbike loan difficult. That’s where Vehicle Finance Today can help – we’re here to take the hassle out of vehicle finance.

Motorbikes can be a great way to travel, especially if there’s not always a lot of parking space available! You may be looking to get a bike to make your daily commute easier, or to go out on long rides at the weekend. Whatever the reason, if you wish to take out a motorbike loan, there are a range of agreements to choose from.

Types of Motorbike Finance

In terms of picking a motorbike, there are all sorts of makes and models available. From big names like Harley Davidson, Suzuki and Yamaha to various lesser known brands, it can be a challenge to know which one to pick! But whether you’re looking for a small bike with a 125cc engine, or a 1000cc beast, here at Vehicle Finance Today, we’ll do our best to help you find the right finance option to fund your new motorbike.

Even if you’re looking for a no deposit motorbike finance agreement, many lenders won’t require you to make a payment upfront. It can be hard to save up a deposit for a vehicle loan, particularly if you need to get back on the road as soon as possible! For more information about no deposit vehicle finance, you can check out our guide here.

motorcycle finance

Motorbike Finance Deals

When it comes to getting a good deal on motorbike finance, the most obvious thing to do is compare lenders! You can easily do this via a comparison site, or by using a broker service like Vehicle Finance Today. We’ll not only compare the best rates for you, we’ll also ensure that you meet the eligibility criteria of the lender you’re put in touch with. Essentially, we’re here to save you time and take the hassle out of borrowing. And best of all, you won’t be charged a fee for using our service!

Your lender doesn’t need to be local either. Years ago, you may have been looking for ‘lenders near me’, but these days, most vehicle loans can be applied for online. And in terms of delivery, many dealerships will arrange this for you, often free of charge.

Another way to get a great motorbike finance deal is to try and improve your credit rating before you apply. This may be easier than you think – you could be able to get an instant boost with Experian, for example. When calculating your credit score, they’ll include other payments, such as subscriptions, to demonstrate that you’re able to keep to regular repayments.

Bad Credit Motorbike Finance

You may be surprised to know that the average UK credit score, according to Equifax, is fair, and only just falls into this category with a score of 380. The Equifax credit rating scores are ranked as follows:

  • 0 – 279 Very Poor
  • 280 – 379 Poor
  • 380 – 419 Fair
  • 420 – 465 Good
  • 466 – 700 Excellent

So when someone is looking to borrow money, the majority of people will struggle to get the funds they need from a traditional lender, especially at a low interest rate. That’s where specialist bad credit lenders come in – they’ll take more than just your credit rating into consideration when making a loan decision. Things like your income and expenditure will also be looked at, to ensure that you’re able to afford the due repayments.

Even if you’ve entered into an IVA, become bankrupt, or have a CCJ on your credit file, you may still be eligible for motorbike finance. As vehicle finance is a type of secured loan, there is less risk for the lender. Therefore car and motorbike finance providers are more willing to lend to people with bad credit than unsecured lenders.

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Motorbike Finance Calculator

In order to get an idea of how much you can borrow, it may be sensible to use a vehicle finance calculator. This will also give you a good indication of how much your monthly repayments would be. Simply enter the amount you’re looking to borrow, and how long for, and you’ll be shown estimates of your regular instalments. Though do bear in mind that these are rough figures only, so you may not pay the exact amount shown.

When you make an application with Vehicle Finance Today, your individual circumstances will be taken into account, and you’ll be offered a tailored service. First, you’ll need to enter your personal details, and information about your finance option. We’ll then compare responsible lenders for you, pairing you with the most suitable motorbike finance provider. And once approved, you can choose your new motorbike from any reputable dealer.

Overall, motorbike finance doesn’t have to be complicated. You can get the bike you want in as little as a few days, spreading the cost of repayment. So what are you waiting for – apply today!

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Applying for finance through us should only take a few minutes, and won’t impact your credit score. So what are you waiting for?


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Want to discuss your options, or learn more about the application process? Our friendly team are ready to help!