Motorcycle Finance
Motorcycle finance could help you raise the funds to buy a bike, whether it’s to thinker a small scooter or purchase a powerful cruiser.
Always make sure you can comfortably afford the monthly repayments before applying for a motorbike loan
Not sure which finance option is right for you? Take a look below to explore your choices. We’ve outlined the main features of each finance type we offer.
We offer finance to motorbikes:
- No Deposit options available
- No arrangement or Admin Fees
- Apply online with no impact to your credit score
- Get pre-approved for finance before, so you know how much you can afford
At Ridenation, we remain neutral and do not provide financial advice. Instead, we present the facts, allowing you to make the best financial decision for your situation.
Easy Application process:
- Get a Quote
- Submit your application
- Sign documents
- Pick up your bike
Motorbike PCP (Personal Contract Purchase)
PCP, or Personal Contract Purchase, is a versatile loan option where a portion of the cost is deferred to the end of the agreement, allowing for lower monthly payments. This deferred amount is called the Optional Final Payment, also known as the Guaranteed Future Value (GFV).
Here are the key points of PCP to help you understand how this finance option can assist you in getting the motorbike you desire:
• Keeps your monthly repayments lower by deferring a significant portion of the loan until the final payment at the end of the agreement.
• Ideal for customers who want the flexibility to upgrade to new models and keep their options open.
• Agreement terms range from two to four years.
• The purchase is subject to interest at a predetermined rate.
• The final payment is optional and based on the bike’s Guaranteed Future Value (GFV)
• At the end of the agreement, you can choose one of three options: pay the ‘option to purchase’ (OTP) and Guaranteed Minimum Future Value (GMFV) fees to become the legal owner of the motorbike, hand it back to us and walk away, or part-exchange it for a new one.
To select PCP:
1. Choose the bike you want to ride.
2. Settle on an appropriate deposit.
3. Decide on a loan term, ranging from two to four years.
4. Estimate your annual mileage, with a maximum of 24,000 miles per year.
The lender will use the details you provide, along with your financial status, credit score, credit history, and affordability checks, to determine your monthly repayments, including interest. This process will also calculate your optional final payment.
Motorbike HP (Hire Purchase)
When you choose to buy a motorbike, you have several options for how you plan to pay for it. One such option is using hire purchase to buy your bike; this is a way to pay a deposit up front and then pay off the rest of the balance and interest in equal monthly instalments.
This straightforward financing option offers the certainty of a fixed interest rate and consistent monthly payments throughout the agreement. The initial deposit and repayment period can be tailored to fit your budget and the expected duration of vehicle ownership. You can trade in your current vehicle to cover the initial deposit or opt to make a cash deposit.
• The agreement can be customized to your needs based on the vehicle, desired agreement length, available deposit, and monthly budget.
• After the initial deposit, you make regular monthly payments to cover the borrowed amount plus any interest and fees.
• The fixed interest rate ensures you know exactly how much you will repay over the term of the agreement.
• This option is typically suitable if you have little or no deposit. However, the outstanding balance may exceed the vehicle’s value if you settle early or wish to change the vehicle before the end of the finance agreement.
This information is intended as a general guide and does not constitute financial advice.
Our panel of motorbike lenders caters to various credit levels, from excellent to poor credit. We are to help our customers to secure finance for their new bikes, even those that have been turned down by other dealers.
For a more comprehensive discussion about your motorbike finance options with Completely Motorbikes, please complete our online form, give us a call, one of your experts will call you back at a convenient time.
Credit is subject to status and additional affordability checks. Available to UK residents aged 18 and over only.
As the new registered keeper of the motorbike, you are responsible or the insurance and maintenance of the vehicle, and you are also in charge of servicing the bike, too. It's important to know that while you are the registered keeper, the legal owner of the bike is the finance company from whom you borrowed, which means that you cannot sell the bike on without permission.
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