The Benefits of Motorcycle Insurance

Jan 20
2011
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Are you finding yourself unsure on whether to purchase motorcycle insurance? The answer in quite simple, ask yourself, what would you do if your bike was in an accident or was stolen?

Comprehensive insurance is now not only offered for vehicles but also for motorcycles. It is imperative that all drivers are safe on the road and are covered for the unexpected event of an accident.

There are varying covers that you can choose from:

  • Comprehensive Insurance: Covers you for accidental damage, fire & damage and theft! This is a two-way cycle, you are covered for any damage to your bike and/or another persons property. Various insurance companies may also offer a hire car whilst your bike is being repaired, this may include of a small fee.
  • Fire and Theft Cover: Ideal for the event of severe damages to your bike, this covers all the costs for the repairs.
  • Third Party Cover: This type of cover is beneficial if you accidentally hit another bike or vehicle. It will cover you  for or the damagers on the victim’s property. However, this will not cover you for any damages to your bike.

Before you even think of going for a ride on your new bike, make sure you are covered with at least one for of insurance. Insurers offer many products, even if it is covering you for theft of personal items or repairs and expenses. No-one knows when an accident may occur and at that time you may not have the funds to repair the damages.

More information on Bike Insurances can be found on www.natloans.com.au, take the time to read what deals are available and if you are still unsure contact one of our finance consultants on 1300 955 791.

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Bike loans – What does a lender look at?

Jun 18
2010
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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/

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