11/30/2023 0 Comments Monthly payments on motorcycle![]() What loan amount do you need? With our bike loan calculator, you can find out the minimum and maximum loan amount available for different lenders, so you can make sure you’re able to borrow the amount you need to.If you can’t afford to meet your loan repayments, you’ll either have your bike repossessed or you’ll face legal action. Can I afford it? This is the most important question you need to ask yourself.All of the motorbike finance options that Driva facilitates are fixed rate, so your monthly or weekly repayments won’t change over the life of the loan. What is your interest rate? Interest rates will vary significantly depending on factors like the age of the bike and your credit history.What are my fees? Make sure you’re comparing comparison rates (rather than APRs) to get a more accurate idea of how much your loan will cost you. ![]() Often newer bikes (2013 or later) are best suited to secured loans, and older bikes (2012 or earlier) are used for unsecured loans. Do you want a secured or unsecured loan? Depending on the age of the bike, this decision might be made for you.How long does your loan term need to be? Keep in mind that although a longer loan term will mean that your monthly repayments are smaller, it also means that you’ll end up paying more over the life of the loan.There are a number of factors that might influence your decision on which lender to choose. Driva's smart financing platform will present you with your best rates based on your profile, but you’ll ultimately decide which lender you want to go with. ![]()
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