A bad credit motorbike loan is a motorcycle loan for those with a poor credit history. Even though you may have had poor credit in the past, the mistakes shown on your credit history should not continue to impact your ability to finance a motorcycle.
It can be challenging to purchase a motorbike if you have bad credit. However, we have bad credit motorbike loan options available to you so you can buy a motorbike and get out on the open road. Our goal at Ume Loans is to help everyone meet their financial goals, so we will do what we can to help you get a loan.
While you may have been declined finance in the past for a motorbike loan, our expert team of bad credit lending specialists will address your credit situation and find a solution that works for you.
No matter what your situation is, it’s important to understand that there are options for you. We won’t immediately decline you or assume you won’t qualify for a motorcycle loan just because of your credit history.
Let’s take a look at some of the benefits of receiving a bad credit motorbike loan through Ume Loans:
You know how much you’re capable of affording on a loan so we want to make sure we offer you the flexibility to pay on your terms. The loan terms can last anywhere from one to five years based on how much of a payment you’re able to afford.
Offering choices on your repayment schedule is important. This gives you the choice to pay weekly, monthly, or even fortnightly. Giving you these options allows you to manage your repayments in a way that makes sense to you.
We keep the whole process simple and you can complete your entire application online. Ume Loans offers fast approvals in as little as 24 hours. You could start shopping for a new bike as soon as tomorrow if you apply right now.
No matter what your situation is, it’s important to understand that there are options for you. We won’t immediately decline you or assume you won’t qualify for a loan just because of your credit history.
Let’s take a look at some of the benefits of receiving a bad credit motorbike loan through Ume Loans:
You know how much you’re capable of affording on a loan so we want to make sure we offer you the flexibility to pay on your terms. The loan terms can last anywhere from one to five years based on how much of a payment you’re able to afford.
Offering choices on your repayment schedule is important. This offers you the choice to pay weekly, fortnightly, or even monthly. Giving you these options allows you to manage your repayments in a way that makes sense to you.
We keep the whole process simple, and you can complete your entire application online. Ume Loans offers fast approvals in as little as 24 hours. You could start shopping for a new motorbike as soon as tomorrow if you apply right now.
A bad credit motorbike loan will typically result in a higher deposit than usual. If you cannot afford your monthly repayments, you will need to put down a higher deposit, so the lenders have less risk to consider when assessing your application.
A higher deposit is standard if you have a poor credit history, and it offsets the cost of the premium. If you cannot put down a higher deposit, you should wait longer to apply for a bad credit motorbike loan.
Apply for a bad credit motorbike loanWhile you can still get approved for a motorbike loan with your poor credit history, you will likely have a loan with lower limits. It is essential to understand that you will likely receive a loan with lower limits if you get approved for a bad credit motorbike loan.
Apply for a bad credit motorbike loanWith poor credit history, you will be subject to higher interest rates for your loan. Your application for the loan will be considered high-risk, but that is nothing to be too worried about.
We will work tirelessly to ensure you get the best interest rate for your unique circumstances.
Apply for a bad credit motorbike loanThere is typically additional paperwork involved with a bad credit motorcycle loan. You will need to complete more paperwork because our bad credit lenders want more information on your situation and how it has changed.
As a result, our lending specialists may request your utility bills, payslips, or rent receipts to ensure you are bringing in enough money to pay your bills. We also want to ensure that you have made your payments on time.
Apply for a bad credit motorbike loanA poor credit motorbike loan usually results in a two to three-year loan term that is secured. We might want to extend your motorbike finance to stretch out your payments so as to not stretch your budget.
When your loan is extended out to a longer term, your monthly repayments will be lower, and you might have a higher interest payment.
It is unlikely that you would get approved for an unsecured bad credit motorbike loan because unsecured loans don’t require collateral.
Apply for a bad credit motorbike loanA bad credit motorbike loan will typically result in a higher deposit than usual. If you cannot afford your monthly repayments, you will need to put down a higher deposit, so the lenders have less risk to consider when assessing your application.
A higher deposit is standard if you have a poor credit history, and it offsets the cost of the premium. If you cannot put down a higher deposit, you should wait longer to apply for a bad credit motorbike loan.
Apply for a bad credit motorbike loan
While you can still get approved for a motorbike loan with your poor credit history, you will likely have a loan with lower limits. It is essential to understand that you will likely receive a loan with lower limits if you get approved for a bad credit motorbike loan.
Apply for a bad credit motorbike loan
With poor credit history, you will be subject to higher interest rates for your loan. Your application for the loan will be considered high-risk, but that is nothing to be too worried about.
We will work tirelessly to ensure you get the best interest rate for your unique circumstances.
Apply for a bad credit motorbike loan
There is typically additional paperwork involved with a bad credit motorcycle loan. You will need to complete more paperwork because our bad credit lenders want more information on your situation and how it has changed.
As a result, our lending specialists may request your utility bills, payslips, or rent receipts to ensure you are bringing in enough money to pay your bills. We also want to ensure that you have made your payments on time.
Apply for a bad credit motorbike loan
A poor credit motorbike loan usually results in a two to three-year loan term that is secured. We might want to extend your motorbike finance to stretch out your payments so as to not stretch your budget.
When your loan is extended out to a longer term, your monthly repayments will be lower, and you might have a higher interest payment.
It is unlikely that you would get approved for an unsecured bad credit motorbike loan because unsecured loans don’t require collateral.
Apply for a bad credit motorbike loan
Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.
One of our Lending Specialists will call you to speak with you about your options.
We'll get to work on getting your loan pre-approved as soon as you supply the required supporting documents.
Once everything is verified, you can sign your contracts electronically.
Time to go shopping for your new motorbike or pick up the motorbike you've already chosen.
Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.
One of our Lending Specialists will call you to speak with you about your options.
We'll get to work on getting your loan pre-approved as soon as you supply the required supporting documents.
Once everything is verified, you can sign your contracts electronically.
Time to go shopping for your new motorbike or pick up the motorbike you've already chosen.
Enter some basic details so we know who you are, and what you’re looking for! This will not affect your credit score. This is where you will submit your bank statements online.
One of our Lending Specialists will call you to speak with you about your options.
We'll get to work on getting your loan pre-approved as soon as you supply the required supporting documents.
Once everything is verified, you can sign your contracts electronically.
Time to go shopping for your new motorbike or pick up the motorbike you've already chosen.
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Our team just love helping our customers buy the motorcycles they love and want, whether it’s brand new or a used motorcycle, we are very happy to share our Ume Loans reviews.
Yes. Brand new, used, road, quad or trail motorcycles can all be finance with Ume Loans. Many other lenders have a whole bunch of rules around the brand, age, and type of motorcycle you can buy, but you won’t find that at Ume Loans.
Just remember, we only transact motorcycle loans between $5000 and $30000.
Yes. You can finance a brand new motorcycle or secondhand with Ume Loans, again, just remember we only transact motorcycle loans between $5000 and $25000.
Yes. We are happy to finance motorcycles bought both privately or through a dealer. Your Lending Specialist will make the process easy for you, by contacting the seller and arranging any information we need from them directly.
We can even give you a copy of the PPSR search we conduct to verify there are no prior outstanding loans on the exact motorcycle you are buying.
No. We customise your motorcycle loan repayment to suit your budget, making sure it is affordable for you, without the need for a large lump sum payment at the end.
