Motorcycle loans 

Need a little help to buy the motorcycle of your dreams? Mozo compares some of the top bike loans in Australia.

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Bike loan comparisons on Mozo

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 233 personal loans.
Last updated 22 March 2025 Important disclosures and comparison rate warning*
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.75% p.a.to 26.95% p.a.
    6.75% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.

    Compare
    Details
  • Low Rate Personal Loan

    Excellent Credit, $5,000 - $75,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.39% p.a.
    7.19% p.a.to 8.75% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with excellent credit on 1-7 year loans from $5,000 up to $75,000, plus free extra repayments. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

    Compare
    Details
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.74% p.a.to 24.54% p.a.
    7.57% p.a.to 25.32% p.a.based on $30,000
    over 5 years

    Borrow $5,000 to $62,000. Transparent terms and online tools. Fast Online Application. 3, 5 and 7 year loan terms. Zero early repayment and exit fees. Fast online application process.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.74% would cost $36,016.77 including fees.

    Compare
    Details
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.55% p.a.to 24.98% p.a.based on $30,000
    over 5 years

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.

    Compare
    Details
  • Debt Consolidation Loan

    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.57% p.a.to 24.99% p.a.based on $30,000
    over 5 years

    Roll multiple debts into one loan to streamline your finances with one set of repayments and one interest rate. Competitive fixed interest rates with no monthly or early repayment fees and flexible repayment options. Easy online application and funding in as little as 24 hours (subject to approval).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.

    Compare
    Details
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Whether you plan to use your bike for the work commute or to cruise down the coast on the weekend, a low interest motorcycle loan can help make the task of purchasing one easier.

Let’s take a closer look at motorcycle financing through a personal loan.

How is a motorcycle loan different from a car loan?

While motorcycle loans and car loans share a lot of commonalities - and you can actually use a car loan to finance a bike - there are some important differences. 

For example, price can be a differentiator. Prices for beginner bikes tend to be between $5,000-$10,000, while higher-end bikes can go up to $40,000. Because these price points are generally lower than cars, bike loans tend to have lower amounts and shorter terms than car loans. 

Keep in mind that some car loan lenders have competitive options for bikes that differ from their car loan offerings.

What other costs do I need to keep in mind when buying a bike?

Motorcycles are usually cheaper than cars to run, but do incur their own set of specific costs to consider, including:

  • Safety gear

  • Bike maintenance

  • Registration

  • Fuel

  • Insurance

  • Roadside assistance.

So even though you might benefit from using a motorbike loan, remember to weigh up any additional costs.

What kind of motorcycle loan can I get in Australia?

You can opt for a secured motorcycle loan or an unsecured motorcycle loan. Let’s look at these more closely. 

Secured bike loan - This is the most common type of loan you’ll come across once you start to compare motorcycle loans. Similar to a secured car loan, it will require an asset such as your new bike to be put up as collateral. This means that your lender can repossess your bike if you ever default on repayments. In return, secured loans generally come with lower interest rates than unsecured loans.

Unsecured bike loan - On the other hand, if you opt for an unsecured bike loan, you won’t need any big asset for security, but it does mean that you might have to pay a higher interest rate.

How do I compare motorcycle loans?

When it comes to finding the best motorcycle loan for you, be sure to look at four key things outside of whether it’s secured or unsecured. 

These are: 

  • the interest rate 

  • fees

  • loan term 

  • and, repayment features.

Let’s look at these closer.

Interest rate

A bike loan can come with either a fixed or variable interest rate. A fixed interest rate means your rate will not change for the term of the loan and you’ll know exactly what your repayments are. Meanwhile, a variable interest rate can rise or fall along with the market and given this possibility, will often come with more flexible features.

(Keep in mind that the comparison rate is a more true representation of the cost of your loan than the initial advertised interest rate as it factors in fees and other charges you may have with the loan).

Loan fees

Two of the most common fees you’ll find with a bike loan are an upfront application fee and ongoing fees. An application fee is a one-off payment when you first apply. Ongoing service fees are the cost to keep your loan going and are either charged as a monthly service or annual fee. Some other fees you may encounter during your loan include break fees or late payment fees.

Loan term

Bike loan terms are usually between 2-5 years, however it is not uncommon for borrowers to extend the loan over 5 years. Keep in mind that a longer loan term means you’ll pay more in interest over the long run.

For example, say you planned to borrow $15,000 to repay over 3 years at an interest rate of 7.99%. According to the Mozo car loan repayment calculator, you will have paid $1,919 in interest by the loan’s end. If you chose to repay the same loan over 6 years, you’d pay $3,244 in interest - an extra $1,325!

Repayment features

Some bike loans come with features that give you a little more flexibility in how you pay off your loan. Depending on the lender and type of loan you choose, you may be able to make your repayments on either a weekly, fortnightly or monthly basis. This can be handy to line up with your own pay schedule or budget. Plus, the ability to make additional repayments can help you save on interest and help pay off your loan sooner. Just remember that if you’re on a fixed rate offer, there may be extra fees should you pay the loan off early.

Another worthwhile feature is a redraw facility, which allows you to redraw any extra repayments to pay for unexpected bills or costs during your loan term.  

What do I need to apply for a motorcycle loan online?

Once you’ve found the loan that’s right for you, all that’s left to do is apply! Before you head online to submit your application, you’ll need to have a few documents prepared beforehand, including:

  • Your current source of income - payslips and bank statements.
  • Proof of genuine savings - lenders will want to see that you can be responsible with your money.
  • A list of any liabilities you currently have - including a mortgage or credit cards.

If you’re ready to finally get your motorcycle, start comparing bike loans right here with Mozo.

Personal Loan Reviews

Bendigo Bank Secured Personal Loan
Overall 5/10
Homeless and trying so hard to get some help

Homeless and trying to get some help with some money to pay for something two live in

Read full review

Homeless and trying to get some help with some money to pay for something two live in

Price
5/10
Features
4/10
Customer service
5/10
Convenience
5/10
Trust
3/10
Less
Tracey, New South Wales, reviewed 10 days ago
ANZ Unsecured Personal Loan
Overall 10/10
It is flexible, competitive, easy.

ANZ’s personal loan product stands out for its flexibility, competitive rates, and ease of application. One of the key advantages is the choice between a fixed or variable interest rate, allowing borrowers to select an option that best suits their financial situation. The fixed-rate loan provides certainty in repayments, making budgeting easier, while the variable rate offers the potential for savings if interest rates decrease. The application process is straightforward, with online tools that allow for quick pre-approval and loan calculations. ANZ also provides the option for extra repayments on variable loans, helping reduce interest costs over time. The ability to redraw extra repayments (for variable loans) is another plus, offering financial flexibility if needed. Additionally, the loan terms range from 1 to 7 years, giving borrowers control over their repayment period. Customer service is also reliable, with support available through online banking, branches, and phone assistance. Overall, ANZ’s personal loan product is a great choice for those looking for competitive rates, repayment flexibility, and a seamless application experience.

Read full review

ANZ’s personal loan product stands out for its flexibility, competitive rates, and ease of application. One of the key advantages is the choice between a fixed or variable interest rate, allowing borrowers to select an option that best suits their financial situation. The fixed-rate loan provides certainty in repayments, making budgeting easier, while the variable rate offers the potential for savings if interest rates decrease. The application process is straightforward, with online tools that allow for quick pre-approval and loan calculations. ANZ also provides the option for extra repayments on variable loans, helping reduce interest costs over time. The ability to redraw extra repayments (for variable loans) is another plus, offering financial flexibility if needed. Additionally, the loan terms range from 1 to 7 years, giving borrowers control over their repayment period. Customer service is also reliable, with support available through online banking, branches, and phone assistance. Overall, ANZ’s personal loan product is a great choice for those looking for competitive rates, repayment flexibility, and a seamless application experience.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Anjovanni, Victoria, reviewed 18 days ago
Commonwealth Bank Personal Loan
Overall 8/10
Reliable and user friendly, but fees can sneak up

Likes: User-friendly app with great features like spending insights and instant transfers. Convenient branches and ATMs across Australia. Strong security measures for peace of mind. Dislikes: Fees can be high, especially for international transactions. Long wait times for customer service. Interest rates on savings accounts aren’t the most competitive.

Read full review

Likes: User-friendly app with great features like spending insights and instant transfers. Convenient branches and ATMs across Australia. Strong security measures for peace of mind. Dislikes: Fees can be high, especially for international transactions. Long wait times for customer service. Interest rates on savings accounts aren’t the most competitive.

Price
6/10
Features
8/10
Customer service
9/10
Convenience
7/10
Trust
10/10
Less
Anita, New South Wales, reviewed 18 days ago

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