While motorbikes are often considered a cheaper alternative to cars, they can still be very expensive. For buyers who don't have the money saved, motorbike finance is an option.
MELBOURNE, Australia, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Leading finance broker, National Loans, who offers various types of asset finance including boat loan options, has added motorbike finance to their product offering. According to National Loans, while some lenders provide unsecured personal loans which can be used to purchase a motorbike, a specialised motorbike loan is secured against the bike being purchased.
As National Loans explains, because a secured loan is deemed less risky to the borrower, it often comes with lower interest rates and sometimes longer repayment terms. Regardless of which type of loan a borrower seeks, it's important to consider how much the loan will cost overall.
For those who are buying a motorbike through a dealership, they may be able to get financing directly through the dealer. National Loans points out that it's worth keeping in mind that a loan secured through a dealership may not always have the most favourable terms, which is why they recommend borrowers shop around to assess their options.
Seeking pre-approval for a motorbike loan can give borrowers peace of mind and it won't matter if they are purchasing a new or used bike through a private or dealership sale. National Loans explains that for buyers, knowing exactly how much they can spend will give them greater confidence as they search for the right motorbike for their needs.
The finance experts at National Loans make purchasing a motorbike simple. With a large network of lenders, National Loans helps borrowers secure a low rate, providing them with the motorbike finance needed for the purchase.
National Loans works for the borrower and therefore takes the time to fully understand their financial situation before providing options to choose from with the most favourable loan terms possible. When working with the finance experts at National Loans, borrowers can decide whether they will seek lower monthly repayments with a balloon or search for a loan without any balloon payments.
If a borrower is in a circumstance where they are credit challenged, National Loans can create a tailored plan to find a suitable loan, without compromising their financial situation.
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Image 1: National Loans
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