Maybe you’ve been thinking about buying a Honda motorcycle for a while now and you’ve decided that now is the time to take the plunge and buy a bike of your own. There are a few things to think about here; the type of motorcycle you are after, your budget and how to obtain Honda motorcycle finance.
When it comes to cost-effective transport, it’s hard to go past a motorcycle. A Honda motorcycle is much cheaper to run than a car, uses less fuel so it’s better for the environment and, depending on how you’re getting around at the moment, could save you money on taxi fares and the inconvenience of relying on lifts.
It’s also much easier to negotiate heavy traffic on a bike and you’ll spend a lot less time in traffic jams. There’s also the freedom that comes with owning a motorcycle and the sheer adventure of riding on two-wheels.
Opting for a Honda motorcycle is an excellent choice. Honda Australia celebrated it’s 50th birthday last year, so that’s half a century of building and maintaining Honda products in Australia for Australians.
Honda know Australian conditions so you can rest assured that your Honda motorcycle will give you years of reliable riding experiences. Honda pride themselves on state of the art technology, performance and safety and are the world’s largest engine manufacturer. Most Honda motorcycles come with a two-year warranty for added peace of mind.
This is a big question. Honda’s extensive range means there is a bike to suit everyone.
In the Honda CMX, old-school meets new style. It has a low and sleek design coupled with a neutral, relaxed riding position. The Honda CMX is a learner approved motor-cycle making it the ideal choice for a first bike.
Inspired by the race-track, Honda’s Supersport range brings speed and performance coupled with excellent grip to give you confidence and control. Experienced riders will enjoy the thrill this range has to offer. Take, for example, the CBR650R, a machine with all the thrill of a sports bike coupled with practicality for day-to-day use.
Whether it’s a traditional tourer, such as the iconic Goldwing, or an adventure tourer with the promise of durability and versatility, enter the 2020 Africa Twin Adventure Sports, a Honda touring bike is the ideal travel companion.
Honda’s off-road selection can give you that race-winning edge. The competition range has been designed with the toughest race-courses in the world in mind. Take the 2020 CRF 250R, for example – more power with precision handling and feel. If you just want to explore the trails and dunes near your place, the CRF230F will take you off the beaten track and beyond.
Now you’ve chosen the right bike for you, it’s time to find the right lender for your Honda motorcycle finance.
Now you have a bike and a price in mind it’s time to find a lender. If you have any savings you might like to put this towards the cost of the new bike and finance the rest. There are plenty of lenders out there so do your research. Good research and selecting the best product for you can save you thousands in the long-run.
Seeing your new bike in the showroom and knowing it's ready to go is exciting, so its no wonder many people opt for the speed and convenience of dealership finance, but it may not be the best way to go. Bide your time and check out other lenders for yourself as you could get a better deal on financing your Honda motorcycle.
Both the term of the loan and the interest rate are important considerations for your Honda motorcycle finance. Most bikes loans can be taken out over a period of 1 to 7 years, giving you plenty of flexibility. A shorter term will see you paying off the bike sooner, but a longer term may be more manageable in regards to monthly repayments.
The lower the interest rate, the less you will pay over the life of the loan. You also need to decide whether to go for fixed rate or variable. With a fixed rate you know exactly what your repayments will be each month because the interest rate won’t change. A variable rate will see your payments fluctuate depending on the market. On the plus side this could mean your repayments could go down, but you also run the risk of them going up.
Look at your income alongside your expenditure each month and decide how much you can comfortably spend on the cost of your new Honda motorcycle. Remember to factor in a cost for accessories, such as a helmet, insurance and running costs.
While there is lots to consider when deciding on the best lender for you, easy-online calculators help you compare lenders quickly, giving you the upper-hand before you head to the dealership. Try our quick loan repayments calculator to see the best deals available on your Honda motorcycle finance.
|Lender||Product Name||Advertised Rate||Comparison Rate||Monthly Repayment|
|Savvy||Secured Bike Loan|| 5.85% |
|ANZ||Online Secured Bike Loan|| 7.85% |
|CUA||Fixed Rate Bike Loan|| 7.99% |
|CBA||Secured Bike Loan|| 8.49% |
|NAB||Variable Rate Personal Loan|| 14.19% |
* Commercial loan with the loan amount of $40,000 is looking at a 5 year secured fixed rate of 2.85% p.a. and comparison rate of 3.93% p.a.. WARNING: all fees and charges may not be included on the example above, only the comparison rates, monthly repayment and total cost applies. Therefore, the total cost of the loan might be different. Comparison rate do not include broker fees, redraw fees, early termination fees and fee waivers. Comparison rate may change as a result of the different loan terms, fees and the loan amounts. Establishment fees and monthly fees do not apply to commercial loans, only consumer loans. However, there might be different fees apply.