Motorbike Finance Deals

There is no reason why a motorcycle should be hard to finance. When you apply with Car Finance 247, we’ll make it easy to find the right finance deal for you and get you a decision in minutes. Thanks to our panel of lenders, we can help people with a range of circumstances find motorcycle finance including those with poor credit and self-employed workers. All you need to be eligible is to be over 18 years old, have at least three years address history in the UK, and a full UK motorbike licence.

You can choose to pay off your motorcycle loan early by requesting a settlement figure from your lender. Depending on the terms of your agreement, the quicker you can pay off your loan, the less interest you’ll pay, which could save you money overall. Your settlement figure is the amount of money it will cost to pay off your loan in full and will be typically valid for a set time frame after you request it.

When you take out a motorcycle loan it can have a positive or negative effect on your credit depending on the type of borrower you are. You may see a slight dip on your score when you first take out a new loan as it is a new large debt on your file but, if you keep up with your repayments this could help build your credit over time. However, if you miss any payments or regularly pay late, that may negatively impact your credit score. Find out more about how finance can affect your credit score in our complete guide.

When deciding how much to pay for a motorcycle, you should consider how you want to use the bike, how much power you need, and how much you can afford to pay each month. It’s worth doing your research online before visiting the dealership to find out the average price of different makes and models. It’s also important to check the bike for any damage, scratches, and scrapes that could decrease its value.

Your motorcycle finance agreement length will depend on the type of finance, the motorcycle you buy, and the amount you can afford to pay back each month. The maximum motorcycle loan term lengths available at Car Finance 247 are 48 or 60 months – 4 or 5 years. The shorter your loan term, the higher your monthly payments might be, but you will pay less interest and that could save you money in the long time. Find out more about affordability with our complete guide.

A good down payment for a motorcycle really depends on the amount you can afford to pay upfront, the total cost of the bike, and the amount you need to borrow. Typically, the more deposit you can put down, the less you’ll have borrow and the lower your monthly repayments will be and a deposit of at least 10% is common. However, if you don’t have any money saved, you may be able to secure a no deposit car finance loan.

At Car Finance 247, you must have a full UK or EU motorcycle licence to be able to secure a loan from one of the lenders on our panel.

When you apply for a motorcycle loan with Car Finance 247, you’ll get a decision in minutes. Complete your application, pop the kettle on and you’ll find out whether you’re approved before you’ve finished your tea! If you’re approved, your dedicated account manager will give you a call. We can then move as quickly or slowly as you like – you could be riding away within days!

You need to be at least 18 years old to enter into a legally binding contract, including a loan agreement. At Car Finance 247, we ask that you’re over 18 years old and have lived in the UK for three years.

Yes, you may be able to get bike finance if you’re self-employed. We work with lenders who offer self-employed car finance. They may need to see proof of income to assess your ability to repay the loan. You may also need to provide extra documentation such as tax returns, bank statements, or profit and loss statements to verify your income.

No, we don’t provide car or motorbike loans for anyone under the age of 18. Once you turn 18 however, we may have options for helping students and young people get on the road.

The minimum deposit for a bike can vary depending on the lender, the purchase price of the motorbike, and your creditworthiness.

Some lenders may require a deposit of a certain percentage of the purchase price, while others may offer financing options with no deposit. We work with some lenders who offer no-deposit car finance, so don’t let this stop you.

Yes, you can typically make monthly payments on motorcycles when financing a purchase. Most bike finance agreements involve spreading out the cost of the motorbike over a set period, with fixed monthly payments that include both the principal amount borrowed and interest charges.

The lowest credit score required to buy a motorcycle can vary depending on the lender’s policies and your individual financial situation.

While some lenders may offer financing options for individuals with lower credit scores, you may face higher interest rates or stricter terms compared to borrowers with higher credit scores. Credit is subject to status.

Certain types of motorbikes, such as electric bicycles (e-bikes) or mopeds with engine sizes below a certain threshold, may not require a specific motorcycle license to operate.

However, it’s essential to check local regulations regarding licensing requirements for motorised vehicles in your area. Additionally, age restrictions may apply for operating motorbikes without a license.

The ease of getting bike finance will depend on various factors such as your credit score, income, and financial history. If you have a good credit score and a stable income, you may be more likely to be approved for finance. But don’t worry if your credit score is less-than-perfect. Some of our lenders may have options available for those with a bad credit score, or have been refused finance elsewhere. Credit is subject to status.

While a good credit score could help in getting better terms and rates, it’s not always a strict requirement. 

We work with some lenders who specialise in bad credit finance, so don’t let that hold you back! 

To get a good idea of the loan deal you could be offered, use our car finance calculator and select which credit score best describes yours. Credit is subject to status.