Motorbike Finance in the UK made easy!
Are you low on a budget but wish to own a motorbike? If this is so, then motorbike finance is what you require. A lot of UK companies offer motorbike finance, and there are various types of contracts to choose from. Even renowned companies like Yamaha and Honda offer car finance. You can get new as well as used motorbikes within the budget you have, without any hassle.
You can choose between HP, PCP or Personal loan contracts. HP is Hire Purchase. This allows you to pay the whole price of the bike over monthly instalments. The payment terms are fixed without any mileage restrictions. After full payment and end of the contract, you will have 100% ownership of the motorbike.
PCP lets you pay over monthly instalments too. You have to deposit some money in the beginning. Some dealers also offer no deposit policies, so you have an option if you are low on budget. You can borrow an amount of money and then pay back gradually for up to 5 years’ time. You have the option to own the bike or return it in PCP contracts.
Personal Loan is the option you should opt for if you wish to own the vehicle from day one. The payments you have to give every month are fixed so you have no surprises or extra charges.
However, you will have to pay the value that is estimated of the vehicle at the beginning of the contract. If the value depreciates, there is no money back. Similarly, you cannot change your mind to give back the vehicle; you will be the owner from the very start.
There are websites as well as dealers in the market that let you choose according to your payment time, budget and bike specifications. This makes the whole process very flexible.