Calculator
Motorbike finance calculator
Estimate repayments on your next road bike, adventure tourer or off-road machine. Adjust amount, rate and term to fit your budget.
Get a quote for this amount6.50% p.a. is a starting point for estimating repayments only. It is not a quote, not an offer of finance, and not a rate available to every applicant. Your actual rate depends on the lender, the asset, the loan term, the loan amount and your circumstances. Adjust to model scenarios.
Monthly repayment
$293
Weekly
$68
Fortnightly
$135
Total repaid
$17,610
Estimates only. Your actual rate depends on your credit profile, lender and loan structure. Results are indicative only.
Comparison rate or interest rate: which one to compare
Assumptions
- A fixed interest rate applying for the full loan term.
- Repayments made in arrears at the end of each period.
- Lender fees, establishment costs and the interest effect of a balloon are excluded unless shown above.
- Weekly and fortnightly figures are the monthly repayment converted across the year, not a separate repayment schedule a lender has agreed to.
- These are estimates only and are not an offer of finance.
- 6.50% p.a. is a starting point for estimating repayments only. It is not a quote, not an offer of finance, and not a rate available to every applicant. Your actual rate depends on the lender, the asset, the loan term, the loan amount and your circumstances.
How the motorbike loan calculation works
The calculator runs the standard amortising formula. It takes the amount borrowed, less any balloon, and divides it across the months of your term at the rate you enter. Each repayment clears the interest accrued since the last, with the remainder applied to the principal.
Bike loans are usually smaller and shorter than car loans, which makes the repayment quite sensitive to the term. Moving between a three and a five year term changes both the monthly figure and the total cost noticeably, so it's worth comparing a few before deciding.
What shapes the rate band you are offered
Lenders look at your credit history, employment type and stability, the size of the loan against the value of the bike, and the bike itself. Age, engine capacity and whether the sale is private or through a dealer all feed the assessment.
Some lenders treat motorbikes more cautiously than cars, and a few will not secure against them at all, which pushes certain applications toward unsecured structures. That variation across the panel is exactly why the rate is something to establish by comparison rather than assume.
How a balloon payment changes the numbers
A balloon defers part of the principal to the end of the term and lowers the regular repayment as a result. Interest keeps accruing on the deferred amount for the full term, so the total repaid rises.
Balloons are less common on bike finance than on cars, and not every lender offers them on consumer applications. Where they are available they suit riders who upgrade regularly rather than those who keep a bike for the long run.
Choosing a loan term
A longer term softens the monthly repayment and increases total interest. A shorter term costs more each month, typically costs less overall and clears the debt sooner.
Because bike loans are relatively small, the difference between terms in dollar terms can look modest month to month while being substantial over the life of the loan. Run both figures before choosing, and factor in gear, registration and insurance alongside the repayment.
Understanding your numbers
How repayments are calculated
Your repayment is determined by the loan principal, the interest rate and the loan term. A balloon payment reduces monthly repayments but leaves a lump sum owing at the end.
Motorbike loans are structured similarly to car loans, with terms from 1 to 7 years and secured or unsecured options available.
New motorcycles typically attract a lower rate than used bikes, because lenders are securing against an asset with a longer usable life and a more predictable resale value.
Secured loans use the bike as collateral, generally resulting in a lower rate than an unsecured personal loan.
Your actual rate depends on credit history, employment type, the motorcycle brand and age, and which lender your broker places you with.
Rate factors
What affects your interest rate?
New vs used motorcycle
New bikes are straightforward for most lenders, with a known build year, a warranty and a valuation that is easy to check. A used bike is judged on its age, its odometer reading, its condition and whether you are buying from a dealer or privately. Learner-approved models are common and well understood by lenders. New vs used motorbike finance sets out what changes between the two.
Secured vs unsecured loan
A secured motorbike loan uses the bike itself as security. An unsecured loan does not, which is why it is sometimes the route for an older bike, a private sale, or a purchase a lender will not take security over. The two are assessed differently and ask different things of you, so it is worth knowing which one applies to your purchase. Secured vs unsecured motorbike loans sets out when each applies.
Credit history
Where a motorbike loan is unsecured, the lender has no asset to fall back on, so your credit file carries more of the decision than it would on a secured purchase. Repayment history, defaults and recent applications are all part of it. How your credit score affects motorbike finance explains what sits on the file, how to request a copy from each bureau and how to read it.
Employment type
Lenders look for income that can be evidenced, and they also look at how long it has been coming in. A short time in a new role is not a barrier, but it is assessed differently from several years in the same job. PAYG applications rest on payslips, while self-employed applications rest on tax returns, BAS or business bank statements. See motorbike finance when you are self-employed.
Bike age and brand
Where the bike is the security, its age at the end of the term matters as much as its age today, and most lenders cap how old it can be. Make and model count too, because they affect how readily a bike can be valued and resold. A mainstream road bike is simple to assess, while a rare, imported or heavily modified machine is a narrower proposition that fewer lenders will finance.
Loan term
Bikes are commonly financed over shorter terms than cars, so the repayment on the same amount lands differently than a car buyer might expect. Term also interacts with the bike's age, since most lenders cap how old it can be when the loan ends. Setting the term against your budget before you apply is easier than adjusting it afterwards, and it is the clearest way to see what the total interest comes to.
Next step
Ready to see real numbers?
The calculator gives you a starting point. A broker compares lenders to find a rate and structure that suits your situation. Takes two minutes.
Step 1 of 3
What are you financing?
Select a finance type and tell us your loan amount.
Common questions