Simplify - Secured Car Loan
From 6.25% p.a.
- Borrow up to $500,000
- Min. loan amount: $5,000
- Loan term: 1 to 5 years
- Establishment fee: $100-$500
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Motorcycles are cheaper than cars, but the cost of riding gear, licence fees and insurance can quickly add up. The last thing you want is an uncompetitive loan adding to your expenses.
Take a look at the guide below to compare finance options to help you buy a new or used motorcycle.
Motorcycle loans are a loan where a lender allows you to use a motorcycle as security. However, not every vehicle loan provider permits borrowers to use motorcycle as security for a loan; in this case, you may be able to get an unsecured loan.
Loan terms vary between one and five years (longer in some cases), and with unsecured loans, you may be able to use some of the funds to purchase additional items for your bike, such as insurance.
When examining your loan options, remember to consider the following features to see if the loan is right for you:
When you’re shopping around for your two wheels, it is essential to think about these factors.
There are different bikes that you can consider buying. You could contemplate a Harley Davidson if you’re after a cruiser, a sports bike if you want speed or a touring motorcycle for long-distance travel. You could also look at a dual-sport bike, a standard motorcycle or even check out a scooter if you’re after a cheaper option.
Make sure you research the law around licence type and engine capacity.
As with buying a car, you should always consider taking the bike for a test ride. How does it handle? What is the acceleration like? These are the questions you should be thinking about.
Compare your motorcycle loan options using the comparison table on this page. Once you find the right loan for you, click “Go to Site” and it will direct you to the lender’s website to fill out an application form.
The eligibility requirements for personal loans differ between lenders, but typically, you need to be over the age of 18, a permanent New Zealand resident or citizen and have a good credit rating. If you are taking out a secured loan, there are also restrictions regarding whether the motorcycle you’re looking to purchase is eligible.
When you apply for a loan, you should have the following documents ready:
Jim works full time for a regional office and enjoys a short 15-minute bus trip to work every day. However, when he receives promotion and starts working in the city, he doesn’t like the one-hour commute on the bus. Jim owns a car but doesn’t want to have to pay the hefty CBD parking fees. He decides he is going to get a second-hand motorcycle for his commute.
Jim works out he can comfortably borrow up to $10,000 for his new purchase and compares his loan options, including the rates, fees and terms. He wants to be able to make extra repayments and finds a loan that allows this. Jim receives online conditional approval for the $10,000 he needs and then starts his search online for his new wheels.
We explore how to use Compound Finance for lending and borrowing.
Broker Finance Bloom can help you get a secured or unsecured loan to help your business bloom.
Review the loan options at First Credit Union, a non-bank lender offering personal loans, debt consolidation, car and home loans.
Learn about the used car buying process, including what you need to check on the car and what financing options are available.
Borrow up to $500,000 for your new vehicle, caravan, boat or motorcycle with a secured or unsecured finance from Kiwi Car Loans.
Access business, trade or invoice finance for businesses of all sizes from ScotPac.
Need to purchase equipment, manage cashflow or expand your business? Borrow up to $2,000,000 with a loan from Mint Finance.
Get the best rate for your circumstances with a car loan from Motor Vehicle Finance. Answers within two hours.
If you’re self-employed or have bad credit, talk to Finance Direct about a low-doc loan.
The Lending People work with a number of lenders to help you get the best car finance for your situation.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.