Motorcycle Loan – Apply From $300 to $10,000

A motorcycle loan can help you purchase your dream motorbike sooner! Moreover, with Monzi’s lender-finder service, we may be able to match you with a lender offering personal loans from $300 to $10,000. In short, you can put your funds towards purchasing your next bike.

The loans offered by our network of lenders are personal loans. Unlike traditional motorcycle finance, you may not be able to use the bike you intend to buy as security against the loan. Instead, you will need to nominate one of your existing assets as collateral.

What are motorcycle loans?

Motorcycle loans are personal loans that can be put towards the purchase of a motorbike. Moreover, you can apply for these quick loans through Monzi’s lender-finder service.

While Monzi does not offer loans ourselves, we do work with a bunch of lenders that do. Therefore, apply on our site and we may be able to match you with a potential lender.

Finally, the lenders in Monzi’s network are potentially able to offer loans from $300 to $10,000.

Am I eligible for motorcycle loans?

There are four criteria you need to meet to be eligible for Monzi’s lender-finder service:

  • 18 years of age or older
  • Australian Citizen/Permanent Resident
  • Have personal contact number and email address
  • Have personal bank account.

You’re free to apply once you meet all of the above.

How do motorcycle loans work?

We’ve all fantasized, at least for a minute, about speeding down a tree-lined highway on a motorbike. The thing is, some of us wish to make this dream a reality. Unfortunately, however, motorbikes are expensive.

In short, most people do not have the cash for a motorbike just lying around. Moreover, it may take several years to finally save up enough for a bike. This is where motorbike finance comes in.

The first step is to apply online. Next, once you submit your application, lenders begin the assessment process. If you’re approved, your lender will make you an offer. Furthermore, if you approve your contract, your funds are deposited into your account. From there, you’re free to purchase whichever motorcycle you desire.

Finally, once you purchase your new set of wheels, it’s time to start making repayments. You and your lender will reach an agreement on your repayment terms. Depending on the lender, you may be able to choose between weekly, fortnightly or monthly repayments.

Can I get motorbike loans with bad credit?

Yes! In fact, Monzi works with a bunch of lenders potentially able to offer bad credit loans. Moreover, while certain traditional lenders may be very wary of poor credit, Monzi works with lenders that do things a little differently.

When you apply on our site, we ask you for your online banking details. Don’t stress, this isn’t anything dodgy. We’ll, in short, explain how it all works.

After you provide your banking details, our smart system pulls read-only copies of your bank statements. Monzi can then pass this information onto potential lenders. Moreover, lenders use this information to get an idea of your recent:

  • income
  • expenses
  • financial habits
  • repayment history with other lenders.

Finally, if you can show your current finances are on track, lenders may be able to look past the blemishes on your credit report.

How to choose the right bike

While finance is important, the main event is actually buying your bike. However, where do you begin if you aren’t sure which bike you’re after?

Here are, as a result, a few things to keep in mind while shopping around for a bike.

  • Bike type. Consider what type of bike you’re after. Are you looking for a Harley Davidson cruiser? Maybe you just need an ex-postie bike to get you to work? We’ll explore these more in-depth later.
  • Regulations. Check what law says around your licence-type in your state. For example, if you live in New South Wales, you will need to confirm the bike you’re buying is listed by the Approved Motorcycles for Novice Riders guidebook.
  • Testing. Always take the bike for a test ride if possible. In short, make sure it feels right.

Motorcycle loan man sitting city view night time

What are the different kinds of motorcycles?

Before you start applying for Aussie motorcycle loans, you need to figure out what kind of bike you’re looking for. Moreover, there are a number of different bike types to suit a variety of roles and riders.

Naked bikes

As their name suggests, naked or standard motorcycles are stripped down bikes. In other words, they forgo things like windscreens or frames.


  • Lightweight
  • No frills thay you don’t need
  • Affordable
  • Can use around town or on the motorway.


  • Not ideal for long journeys
  • Little protection against the elements.

Touring bikes

If you’re looking to cover long distances in comfort, a touring bike may be for you. In short, touring bikes often come with more comfortable seats, windshields etc.


  • Protected against the elements
  • Large engine and fuel capacity
  • Comfortable
  • Plenty of storage.


  • Expensive
  • Not ideal for beginners
  • Not as fast
  • Heavy and bulky.

Sports bike

Sports bikes are built for one thing: speed. While the riding position on sports bikes may be uncomfortable, riders can enjoy being able to go maximum speeds with great breaking.


  • Very fast
  • Light and compact
  • Powerful.


  • Not good for beginners
  • Uncomfortable
  • High maintenance
  • Insurance can be expensive.

Motorcycle loan – Cruisers

The classic Harley Davidson-style bike; built for cruising on paved roads. However, cruisers may not be suitable for beginners due to their low height.


  • Classic look
  • Easy throttle.


  • Poor fuel economy
  • Little protection against the elements.


Built for tackling rough terrain, off-road bikes are equipped with the suspension to handle anything. Remember, while beginners are able to learn on a dirt bike, there is an added element of risk without experience.


  • Acceleration
  • Great suspension
  • Manoeuvrability.


  • Not road legal.

Dual purpose

As their name suggests, dual purpose bikes mix the fun of an off-road motorcycle with the functionality of a street-legal bike. These bikes can be taken on the highway, and may be suitable for beginner riders.


  • Street legal
  • Durability.


  • Too heavy for challenging off-road trails
  • Too slow for high-speed riding.

How do I compare motorcycle loans?

Motorcycles vary between brands; loans vary between lenders. Therefore, it is important you compare different lenders to find a loan product that’s right for you.

If you aren’t sure how to compare personal loans, consider the following:

  • Amount. Confirm whether the lender is able to offer the amount you’re looking for.
  • Term. Your repayment terms is how long you’re given to repay your loan. The longer your term, the more you’ll pay in interest overall but your regular repayments will be lower. On the other hand, a short term loan offers you less paid in overall interest, but potentially higher regular repayments.
  • Security. Are you able to apply for a secured loan? What kind of asset can you use as security?
  • Rates & fees. Lenders will charge interest as a fee for providing you the money, expressed as an annual percentage rate. In addition, fees
  • Loan features. Are you able to make extra payments free of charge?

Can I get a secured motorcycle loan?

Yes! You may need to attach security to a personal loan valued over $2,000. Keep in mind, however, the secured personal loans available through Monzi’s panel of lenders may not function like typical motorcycle finance.

More specifically, consumers cannot use the bike they intend to buy as security. Instead, you must already own an asset of adequate value. If you apply for a secured personal loan, lenders may be able to consider the following assets as collateral:

  • car
  • caravan
  • motorcycle
  • boat.

The below table contains examples of secured personal loans.

Secured personal loan with bad credit history$4,000
Online personal loans secured$6,000
Secured loan$10,000

What credit score do I need for a motorbike?

There is no minimum credit score required for motorcycle finance. While your credit score does matter, it is only one piece of the puzzle. In other words, lenders consider a wide range of factors when assessing your application.

Moreover, lenders access read-only copies of your bank statements to get an idea of your:

  • income
  • expenses
  • repayment history
  • financial habits

Therefore, you may be approved if you have a poor credit score but show good recent financial habits.

At the end of the day, each application is assessed on a case-by-case basis.

What interest rate can I expect?

That is impossible for us to answer. Specifically, there are too many variables that affect what interest rate you get. For example, the following influences what rate your lender may charge you:

  • Amount. The amount you apply for influences your rate.
  • Security. Secured loans often carry lower rates than unsecured loans.
  • Credit history. Lenders are more likely to offer lower rates to consumers with great credit history.
  • Lender. The lender you apply with will determine what rates you are offered.

What do I do if I’m unhappy with my motorcycle loan contract?

Lenders send through an offer if they approve your application. However, due to responsible lending obligations, credit providers may not be able to offer the exact amount you applied for on our site.

Moreover, your contract contains information on the rates, as well as the payable fees and charges associated with your loan. Therefore, read through your contact carefully before approving it.

If you are unhappy with anything in your contract, do not sign it. If you do not understand anything in your contract, do not sign it. In short, get in contact with your lender directly.

Ultimately, your lender will be able to walk you through the details of your contract.

What happens if I fail on my secured loan?

Lenders may repossess the asset you used as security if you default on your loan. Then, lenders sell this asset to cover their losses.

Keep in mind, however, repossession is often the last resort for most lenders. Moreover, the repossession process can only begin if:

  • you’re behind on your payments;
  • you have received a 30 day notice to pay the overdue amount; and
  • you have not paid this amount, or negotiated a resolution, within this 30 day period.

For more information, head to the MoneySmart page on repossession.

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You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.