Be practical. Financing a pre-owned motorbike shouldn't put you in unnecessary debt, especially if this is your first ride.

Why Should I Finance a Used Motorbike?

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Should I Finance a Used Motorbike?

Buying a brand-new motorbike is a big step, especially if you’re a first-timer. Financing a pre-owned vehicle might be the better option. Here are a few things to consider when asking yourself why should I finance a used motorbike.

Tips for purchasing a used motorbike

Take time to prepare by putting in your due diligence. The steps you should follow are:

1. Check your credit

See where your creditworthiness stands. By knowing what your credit history looks like and getting pre-approval you will know the maximum amount you can borrow, what the repayments will be and the applicable interest rates – if your credit rating is good you will qualify for better loan conditions.

2. Calculate your budget

Review your income and establish how much you can realistically turn over to a loan every month. Take into account registration, insurance, and potential maintenance expenses as part of your budget analysis.

3. Check out pricing

Compare prices to get an idea of the bike you can afford versus your idea of a dream ride.

4. Test drive

You have to test drive as many models as you can stand. Drive on various road conditions where-ever possible. This is a crucial step for the first-timer.

5. Get the bike checked

Never buy a bike on seller boasting. Get your own inspection performed. You never know what a life saver this process can be!

6. Get accident and maintenance records

Having the history of the motorbike will provide insight into what to expect from the vehicle. You need these records even if you have to pay for them.

7. Negotiate

Approaching a lender, be ready to talk about the best loan terms and purchase price. Get a solid upfront deal to make loan repayments affordable.

Financing: Pros & Cons

If you aren’t in a position to pay for a motorbike up front, you don’t have to put off your dream. Financing is a great way to get out on the road sooner. But this option may not be for everyone. Here is some information for deciding if financing is right for you.


  • Pre-owned motorbikes will depreciate slower than a brand-new ride. New vehicles loose value as soon as they are driven off the lot and the depreciation drops rapidly over the first few years. The owner of a new vehicle ends up paying more for the loan than the vehicle ends up being worth.
  • Despite the previous point, motorcycles still retain greater value than other vehicles. A rare or well-maintained vehicle can go up value.
  • Your motorbike financing gives you access to transportation. If you don’t have time to save and need to secure transport for, say, commuting to work, financing is the way to achieve your goal. It allows you to get a bike now and pay back over some time.
  • Having a loan and repaying it responsibly builds your credit. A positive payment history turns into a respected credit profile, boosting your creditworthiness and makes you eligible for better credit opportunities.


  • Carefully examine financing terms. Interest and fees can be costly.
  • In some circumstances, Annual Percentage Rates may be higher for pre-owned than new motorbikes.
  • If you have difficulty repaying the loan, you hurt your credit or risk losing the bike, particularly if you do not contact your lender and discuss your options, openly and honestly.


Be practical. Financing a pre-owned motorbike shouldn’t put you in unnecessary debt, especially if this is your first ride. Temptation is always going to lead you to that shiny beauty, but you want to keep the purchase smart. Follow the tips here, find a solid lender, and you’ll do just that.

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