Motorbike Loans

What is a motorbike loan?

A motorbike loan works similarly to other personal loans, such as a car loan or borrowing for home improvements. You would apply for the amount you need to make the purchase, and pay back the motorbike loan over a series of fixed monthly repayments.

How do motorcycle loans work?

If you need to raise the funds to finance a motorbike, there are different methods available. These are:

• A personal motorbike loan - You’ll pay off the loan amount and interest over an agreed timeframe to own the motorbike outright. You can choose between a secured loan, which uses your assets as collateral, or unsecured borrowing, usually based off your credit history and score.
• Leasing a motorbike - You can lease a motorbike from the seller with an upfront payment and make smaller monthly repayments. You will need to renew the lease at the end of the fixed term, and either return the motorbike or pay off the remaining money to own it.
• Personal contract purchase (PCP) – You’ll pay a small deposit and make monthly repayments on a loan to cover the depreciation of the motorbike. At the end of the term, you have the option to either trade in the motorbike and start a new PCP plan on another motorbike, return the motorbike to your dealer or make one last payment (known as a balloon payment) to keep the motorcycle.

Am I eligible for motorcycle financing?

It’s possible to get bad credit motorbike finance even if your financial situation isn't ideal. However, you will need to demonstrate to lenders that you can meet the repayments comfortably.

They may also want additional security on a bad credit motorcycle loan, which may mean a higher interest rate or securing the loan against personal assets such as your home, which may result in a lower interest rate.

What can I use motorcycle financing for?

You can use motorcycle financing to fund a motorbike that suits the lifestyle you lead. There are different types of bikes with different specifications for distinct purposes. You may be new to motorbiking, or you might be ready to move up a level.

• 125cc – designed for urban use, 125cc motorbikes are great options for beginners.
• Adventure – all-rounders that are ideal for long road trips.
• Scooter – convenient, compact and comfy, scooters are also a good choice if you’re new to motorbiking.
• Touring – if you’re looking to travel long distances, but don’t plan on going off-road.
• Street – lightweight motorbikes, popular with novices who need a motorbike for urban riding.
• Supersport – sporty and high performance, with aggressive riding positions.

Applying for an unsecured motorbike loan

We search more than 600 plans from various lenders to give you the choice when it comes to getting a loan. Even if you are a new driver or on benefits, we’ll try to help secure a motorbike loan term to suit your personal circumstances.

Our loan options for unsecured loans let you borrow from £3,000 to £25,000, spread between one and seven years. We can make an ‘in principle’ decision within 24 hours of your application and can make a direct payment in around 14 days.

Frequently asked questions about motorcycle financing

Still unsure how motorbike loans work? Read our frequently asked questions below to find out more.

Are motorbike loans the same as car loans?

While there are similarities, a motorbike loan is not the same as a car loan. This is because these types of borrowing are for a specific purpose. Therefore, lenders will likely only accept your motorbike loan application if you are using it to purchase a bike, rather than another type of vehicle.

How much can I borrow?

With motorcycle finance from Norton Finance, you can borrow between £1,000 and £100,000. To get an idea of what your monthly repayments might look like, give the loan calculator a try.

How long are the repayment terms?

With a wide range of lenders on our system, we can offer you flexible loan terms on our repayment plans.

What are the interest rates on motorbike loans?

The interest rates on motorbike loans will vary between lenders and can be determined by your credit history. Our homeowner interest rates start from 6.59%.

Are there any loan fees?

Our loan fees will depend on the type of borrowing you apply for. Secured loans may come with a broker fee of 12.5% - capped at £3,995. Unsecured borrowing doesn’t come with any loan fees.