natloans - Finance & Leasing » Bike Loans

Secured or Unsecured loan?

Natloans — Wed, 01 Sep 2010 00:46:16 +0000

Are you thinking of making a new purchase but unsure about the type of loan you should be looking at? Before making the choice be sure to get some insight on what each option offers and will fulfill your needs best, there are two main loans – secured and unsecured.

Secured Loans

When considering a secured loan you must be confident that you won’t be defaulting in any payments and that your budget can afford the extra expense. Although this type of loan usually has a lower interest rate with a larger amount of money than unsecured loans there is a slight catch. Finance companies will only give you this loan if you are willing to use an asset, such as your car, as security. This is done incase you cannot make the monthly repayments; the lender will not hesitate to repossess your car in order to receive the payment.

Unsecured Loans

Are quite difficult to obtain in this time and day. The lender will not be holding an asset, as security therefore will be following strict criteria as to whether you will be eligible for the loan. Interest rates and repayments are often much higher than secured loans due to the client be bound by only a “promise” that they will be able to make all the payments on time until completion. The only advantage is that there is no asset that can be repossessed!

There are a few factors that must be taken into consideration before even thinking of which loan to go for.

1. Credit Rating – If you have been bankrupt or have defaulted you may not be able to go ahead with your application straight away, you may need to wait a few months then apply for a loan again. If you have a good credit rating and have kept up to date with all your previous/current loans you are on the right path in making another purchase.

2. Employment Status – Are you part-time, casual or fulltime? Depending on the hours and base rate you are at may be the reason you don’t qualify for a loan. You must no be on probation, if you are contact your financier when you are stable in the position and they will guide you from there in to find the best option for you.

3. Income/Outgoing Bills – Can you afford another expense? If you feel that you can pay your bills comfortably and find yourself with cash left over at the end of the month you may have enough to take out another loan. Another option is to save a deposit over a few months and finance less, saving yourself some interest!

For more information on which finance option is best suited for you contact Natloans on 1300 955 791 or visit our website www.natloans.com.au

Technorati Tags: secured loans, unsecured loans

What options do I have when getting a motorbike loan?

Natloans — Mon, 30 Aug 2010 01:26:58 +0000

Financing a bike is a lot like a car loan. Before you go out to the bike shops and fall in love with your dream set of wheels, it’s probably a good idea to pause and think about how you will best finance it. Perhaps the best option available to potential buyers is the Personal Secured Loan.

So what is the product?

Personal Secured Bike Loan:

This is probably the best and most popular product if you are looking at bike purchase over $5000. A Personal Secured Loan means the bike is used as security against the loan.

In this current economic market, a Personal Secured Loan is easier to obtain than a Personal Unsecured Loan (where no security is needed). However, there are restrictions on the age of the bike. Lenders usually don’t want the bike to be any older than 12 years and the end of the loan. Older bikes cannot be used as “security” in its own right.

Usually this type of loan can run anywhere between 2 and 5 years. However, bike buyer behavior demonstrates that most people keep their bikes for 18 months and then upgrade. This is why a Personal Secured Loan is suitable because the exit fees are low and you are paying interest and principle from day one, which means when it comes to trading in or selling the old bike, you don’t owe more on the loan than the bike is actually worth. Finally, a Personal Secured loan is the cheapest option in interest rates, fees and charges and allow you to make additional payments.

Most lenders will want comprehensive insurance on the motorbike therefore you will need to factor this into your budget.

The lender will want:
1. Proof of income
2. Evidence of a stable home address
3. Permission to check your credit record

For more information on the loans process, please call Natloans on 1300 955 791 or visit our website http://www.natloans.com.au/. They will ensure the process is as smooth as possible because they are professionals.

Technorati Tags: bike loans, personal bike finance

Get your motor runnin’ Head out on the highway…

Natloans — Wed, 14 Jul 2010 01:09:26 +0000

Living a stressful life and you simply can’t take it anymore? Why stay at home where there’s always so much to do, and not be out traveling the coast with a friend or going for a relaxing drive there are so many places to see.

The new Kawasaki Ninja 650R is ideal for learner’s; it is now more modern and attractive than before. The Ninja is low on gas and holds its value for quite some time, so why not spend $10,800 on a brand new bike that will leave you exploring and everyone speechless of your purchase. If you are worried that it’s too much for your pocket, there’s no drama, you can find a used Ninja for only $7,995. It’s all about finding the best deal and bike to satisfy your needs. Is this not what your looking for? Are you on the lookout for something more powerful? Why not get a bike loan?

Maybe the Harley Davidson best suits you? Harleys have been around since the 1900’s, made for individuals who love to ride. Harley Davidson’s range between $15,000-$39,000, due to being such a reliable and popular brand this is why it is one of the most expensive brands. If you’re looking for quality, why not pay that extra? At the end of the day you are the driver, you know which choice is best for you.

Natloans negotiates repayments that are reasonable depending on the type of client you are. For further information on how to go about choosing a bike amongst your budget visit www.natloans.com.au or if you would like to chat to a consultant contact us directly on 1300 628 562 and will be more than happy to have a chat.

Technorati Tags: Harley Davidson, Kawasaki Ninja 650R

Bike loans – What does a lender look at?

Natloans — Fri, 18 Jun 2010 07:41:49 +0000

When you think of a motorbike you think of freedom, hitting the road and just ridding on your dream machine non-stop. As bikes have become more popular lenders are have increased their approval rates. A Bike loan is a great way to purchase your dream motorbike without having to have the full upfront amount. By financing your bike loan you can easily turn your dream bike loan into reality.

Essentially bike loans come two different forms:
• Unsecured
• Secured

They both have their own advantages. An unsecured bike loans is generally approved much fast, the same day in most cases, whereas a secured bike loan will give you a lower interest rate.

Nowadays bike finance can be obtained for 100% of the amount finance. This mean you don’t have to put down a cent!

What will a lender or broker look at?

A lender will look at the term of the loan and the repayment plan plus
• The year of the motorbike
• The model
• Your income
• You credit history
• Employment history
• Capacity to maintain the bike loan
• Is the motorbike secured or unsecured
• The deposit you can put in
• Credit activity – how often you make loan applications

One of the requirements to get your dream motorbike financed is that you must have motorbike licence to ride the bike you wish to finance.

How can I get a better deal?
There are a number of factures that the finance company will look at to determine the rate of your bike finance. Each lender has their requirements but generally these factors will be looked at:
• Employment history – Minimum of 2 years
• Credit history – What loans have you repaid and were you on time?
• Deposit – The amount of money you can put into the loan
• Property backing – Owning a house or having a mortgage will heap a lot

There are many websites that you can look at to get a quote for bike finance. One should be carful of applying at too many places in a short period of time. Having said do your research and don’t just shop the rate also look at the fees and charges that come with the loan.

Mary Nebotakis is a financial consultant. She offers loan and financial advice on Motor Bike Loans. She is working as the senior financial consultant for Natloans. To find Bike Loans, cheap motorbike loans, motorbike loans, poor credit motorbike loans visit http://www.natloans.com.au/

Technorati Tags: bike finance, lenders

Valentino Rossi takes on 2 and 4 wheels

Natloans — Thu, 28 Jan 2010 23:33:46 +0000

With Rossi’s Yamaha contract expected to finish at the end of 2010, could we see one of the most renowned men on two wheels take a place at the podium of four wheels?

At the moment the Formula One the spotlight is surrounding three big drivers’. Micheal Schumacher who competed in 2010 but not in 2009, Kimi Raikkonen who competed in 2009 but not in 2010 and Valentino Rossi who has never completed in F1.

Rossi to take on F1?

It is true that Rossi has only ever driven an F1 6 times but has made his mark in more than one page of motorcycle history. Can he write a page in the history book of F1? There has only ever been one person to make such a feat – John Surtees.

Lets put everything into perspective. On the 20 and 21 of January at the Catalan circuit of Montmelo. Rossi was given the identical car Kimi Raikkonen used in 2008 to set the circuit’s record of 1:21.67. On day one, Rossi completed 68 laps, added over 300 kilometres to the odometer and his fastest time was 1:25.200. Day is what we are interested in, Rossi clocking 1:21.900, which compares to the fastest time for 2009 of 1:22.762. Bear in mind that Rossi hasn’t driven an F1 since November 2008.

Look out for the F1 season of 2011. Schumacher will have settled, Raikkonen will be back and we’ll have Rossi to watch. Well let’s hope so.

Technorati Tags: Motorcycles, Valentino Rossi