When looking to finance a motorbike in Australia, choosing the right lender can significantly impact the loan terms and your overall experience. Various financial institutions offer motorbike loans, but the best motorbike finance companies cater to different borrower needs, from competitive interest rates to flexible loan terms. Here’s a look at some of the top motorbike finance companies in Australia to consider for your next purchase.
1. NAB (National Australia Bank)
NAB offers competitive motorbike loans with flexible options for borrowers. With their personal loan for motorbikes, you can finance up to 100% of the purchase price, including on-road costs. NAB provides both secured and unsecured loan options, with the secured loan offering lower interest rates. They also offer flexible repayment terms, allowing borrowers to make extra repayments or pay off their loan early without penalty. One key advantage is the ability to access NAB’s extensive online and branch-based customer support, ensuring ease of application and assistance throughout the loan term.
2. CommBank (Commonwealth Bank of Australia)
Commonwealth Bank is another major player in the Australian motorbike finance market. CommBank offers both secured and unsecured loans with flexible terms, enabling you to borrow the amount you need to buy your bike, with a repayment period of up to seven years. With competitive interest rates and the option for a fixed or variable rate loan, Commonwealth Bank is ideal for those who want stability and options. Borrowers can also access additional features, such as early repayment and fee-free redraw, making CommBank a reliable option for those looking for flexibility in their motorbike finance.
3. Australian Lending Centre
The Australian Lending Centre offers tailored motorbike loans with a focus on flexibility and customer service. They provide both secured and unsecured loans with fast approval processes and competitive interest rates. One notable feature is their ability to work with individuals who may have less-than-perfect credit scores. While many mainstream lenders have strict credit requirements, Australian Lending Centre is more lenient, which makes it an ideal option for those who need a loan but may not meet the stringent criteria of larger banks. They also provide easy online application processes, making the loan approval process quick and straightforward.
4. Latitude Financial Services
Latitude Financial Services is a leading Australian finance provider offering motorbike loans with competitive rates. Their secured motorbike loans are available for new and used bikes, and they provide a quick online application process. Latitude offers flexible loan terms, ranging from 1 to 7 years, and flexible repayment options. Their easy application process and fast loan approval times are appealing to borrowers looking for a quick turnaround. Latitude is also known for its clear loan structures, with no hidden fees, making it a transparent and reliable lender for motorbike financing.
5. MoneyPlace
MoneyPlace is an Australian online lender known for its competitive personal loan options, including motorbike loans. They offer unsecured personal loans with lower interest rates than traditional lenders for those with good credit. With flexible loan amounts and repayment terms, MoneyPlace is a good choice for borrowers who want the convenience of an online process without the hassle of dealing with a traditional bank. MoneyPlace uses a fast, streamlined process to approve loans, which is perfect for buyers who need quick approval. One of the biggest advantages is their transparency—MoneyPlace provides clear loan terms, including no upfront fees, making it easier to understand the true cost of borrowing.
6. BOQ (Bank of Queensland)
The Bank of Queensland offers competitive secured loans for motorbikes, with flexible repayment options and low interest rates. BOQ’s personal loan for motorbikes allows borrowers to finance up to $100,000 for new or used bikes. BOQ is known for its personalized service and ability to cater to a wide variety of borrowers. If you're looking for a tailored loan experience, BOQ can provide you with expert advice and flexible terms. They also allow for early repayment without penalty, and their online loan application process is fast and easy to navigate.
7. FlexiGroup
FlexiGroup offers motorbike financing through its personal loans and a buy-now-pay-later (BNPL) option. Their motorbike loans are easy to apply for, and they specialize in offering flexible terms to suit various borrowers. One of their key advantages is the variety of repayment options available, from weekly, fortnightly, to monthly repayments. FlexiGroup is known for its fast approval process, making it an excellent choice for those who need financing quickly. Additionally, FlexiGroup’s ability to offer flexible terms, including the option to upgrade your bike later, is a significant advantage for some buyers.
Conclusion
Choosing the best motorbike finance company in Australia depends on your financial situation, loan preferences, and the level of service you require. Major banks like NAB and CommBank offer competitive interest rates and flexible loan terms, while online lenders like MoneyPlace and Australian Lending Centre cater to those with less-than-perfect credit or those looking for fast approval. Latitude and FlexiGroup provide more flexible options, with quick and easy online processes for borrowers who need immediate assistance. By carefully considering your loan options and comparing lenders, you can secure the best motorbike finance deal suited to your needs.
DISCLAIMER
The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.
