Refinance Your Motorcycle
Paying off your Balloon Payment. As anyone knows who has purchased a new bike using a manufacturer PCP deal, they offer a chance to continually ride a new model bike at an affordable monthly payment. That is the advantage of the them. The monthly repayments are also attractive because a percentage of the bike purchase price is put to one side for the duration of the contract.
The Down side is at the end of the agreement, usually after 3 years you either need to hand back the bike and get the bus home! Not many customers choose that one, or pay off the back end/ balloon payment to purchase the bike you have been riding. Customers can find it difficult to have sufficient funds to clear it at short notice. What happens is that many customers take another new bike on a new PCP.
Bikerloans gives you a 4th option, you refinance the back end balloon payment with us and obtain outright ownership of the bike. We clear your existing finance for you, all you need is the settlement letter from your finance provider.
Raise money using your current bike
Your motorcycle is a financial asset. Most of us probably don’t think that about our bikes like that but the truth is we may have quite a bit of money invested in them. It is possible to use some of the value/ equity in your motorcycle to raise money for other necessary purchases by refinancing a bike you already own?
A customer required £5500 for essential property repairs by refinancing his motorcycle worth approximately £8000. He had previously thought it would be necessary to sell his motorcycle to be able to pay for the work to be carried out.
By refinancing the motorbike with Bikerloans he got the work carried out at his property and kept his bike.
We can also refinance cars or commercial vehicles you already own as well as paying off the balance of PCP deal that will give you ownership of the vehicle.
If you would like any more information please get in touch:
