Bad Credit Motorbike Finance2023-01-10T15:27:59+00:00

Bad credit motorbike finance

Bad credit motorbike finance

Any vehicle | Any dealership | No deposit | All credit scores considered

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No obligation, no impact on your credit score

Rates from 7.9% APR. Representative APR 26.9%

Representative Example: Borrowing £5,700 over 60 months with a representative APR of 26.9%, the amount payable would be £164.18 a month, with a total cost of credit of £4,150.80 and a total amount payable of £9,850.80.

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Can I still get finance with bad credit?

Yes, of course. If you did search for ‘guaranteed finance’, it’s likely that you already know that you have a poor credit score. Maybe that’s why you think you may not be eligible for finance through the normal routes. But, that’s not strictly true. At the Vehicle Financer, we have a large and varied panel of lenders, who we’ve chosen specifically so we can help to find finance for people with all kinds of credit histories – good or bad. But, we never guarantee it. And, if we do find finance for you, it is not likely to be at the lowest rates available.

Find out how much your monthly payments could be with our motorbike finance calculator is for.

I’ve been refused for motorbike finance, can you help?

The honest answer is, it depends. Before we can answer that question, we’d have to find out a little about why you’ve been refused credit in the past. There are a number of reasons that will make it very hard, or impossible, for you to get finance, like:

– Being made bankrupt.

– Having County Court Judgements against you (CCJ).

– Already being in an Individual Voluntary Agreement (an IVA).

– Being in a debt solution.

However, if you’ve been refused because your credit score is low, we might be able to help. There are finance companies who are happy to lend to people with a less-than-perfect score and we’ve teamed up with a few of them to make sure we can try to help as many people as possible get finance that’s right for them.

Is guaranteed motorbike finance really possible?

Short answer – no. Surprising, seeing as we’re sure you’ve seen lots of adverts claiming ‘Guaranteed Motorbike Finance’ or ‘Finance for bad credit, no checks required’. Well, we’re sorry to say that those companies are not telling the truth. Not only that, they are actually breaking the law. The 2010 Consumer Credit (advertisements) Regulations made sure that no company could claim they were offering guaranteed finance unless they offered it to every person who applied. Of course they don’t do that, as the Financial Conduct Authority has rules in place to make sure finance companies act responsibly. This means they must check that you can afford the monthly payments and meet their criteria, before they offer you anything. So, no, guaranteed motorbike finance is not possible.

Why can I not have guaranteed motorbike finance?

This is easy to answer – because it might not be the best way forward for you. When you apply for motorbike finance, the lenders have to make sure that you’ll be able to afford the monthly payments. This is called an affordability check. It’s done by asking you questions about your circumstances, job, outgoings and so on, and by checking your credit history. This is why we ask for three years of address history when we’re getting a quote for you. When your credit report is checked, lenders can see what money you owe, who you owe it to and whether you’ve been able to keep to the repayments you agreed to.

Should I take an offer of guaranteed motorbike finance?

We think not. We know, from experience, that offers of guaranteed motorbike finance are not all they seem. If you have an offer, we’re pretty sure it’ll come with some extras that you’re not going to like, such as:

– You can only spend a certain amount, with a certain dealer on a certain make.

– There’ll be a large fee to pay upfront.

– Your details will be sold on to other dodgy companies, like high interest loan companies.

– There will be multiple searches done on your credit history, which will likely damage it.

In our opinion, that’s just not right. So, please give us a call before you take any offer of guaranteed motorbike finance, and we’ll see if we can help.

Let’s get started

Answer the questions, it’s the usual stuff – name, time at current address that kind of thing – and we’ll do the rest.

Get a quote

No obligation, no impact on your credit score

Why The Vehicle Financer

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We’re finance experts

We work with a wide range of lenders, who we know and trust. This helps us get the very best vehicle finance deal for you.

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We’re vehicle experts

We’ve been in the vehicle finance business for over 20 years – we know our stuff. Find your own motorbike, or tap our knowledge, it’s up to you.

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We’re customer service experts

We want you to be happy and we’ll do everything we can to make that happen. If you need some help, just ask.

Our experts know the answer

Do you finance 125cc motorbikes and scooters?2020-06-22T15:16:46+01:00

Yes, we do. If you’ve just decided to get yourself a motorbike or a little scooter to run around on, great choice, well done! We love motorbikes here, so we’d be really happy to help you find finance to get you on the road quickly and simply. But, that’s not all, if you’ve not yet found the right bike, we can help you with that too. We have loads of experience with motorbikes at The Vehicle Financer, you could say it’s our specialist area. So, if you want us to help you find the right bike, get in touch, let us know what you’re after and we’ll get right on it.

Will I need a deposit to get motorbike finance?2021-10-04T21:12:13+01:00

No, you can apply for motorbike finance with nothing to put down as a deposit. This means that if you’ve just seen a motorbike or scooter that’s ideal, you don’t have to worry about months of saving and possibly missing out. Give us a call and we can get your finance application started straight away. If you do have a deposit, that’s great too. Let us know how much and we’ll keep it in mind when we search our panel of lenders for you. And, don’t forget, if you already have a bike, you can use that as part-exchange too.

I have bad credit, can I still apply for motorbike or scooter finance?2020-06-22T15:21:47+01:00

Yes, absolutely. Often bad credit is the result of a blip with your finances, and we all have those now and again. But the effects on your credit history can last a long time and can often mean you get declined for credit. We want to try and help when this happens and will do our best to find the finance you need to get your new scooter or motorbike on the road. Because of this, we’ve made sure to include lenders on our panel who offer finance to those with a less-than-perfect credit history. We’re here to help, so don’t let having a poor credit score put you off applying with us.

I need finance for a new motorbike, what information do you need?2021-10-04T21:11:31+01:00

Applying for motorbike or scooter finance is like applying for any other finance, we have to know some personal things about you. Not too personal though, so no need to worry. We’ll do some ID checks, including who you are and where you live, and we’ll also need to know your income and have an idea of what your credit history is like. To do this, we’ll be asking:

– where you’ve lived for the last three years
– how much you earn each month
– who you work for
– your credit score

As it’s the law, we’ll also need to see proof that you have your compulsory basic training (CBT) certificate too. This information will be used to find a lender offering the best motorbike finance for you and that’s all. It’s your personal information, we understand how important it is, we’ll keep it safe.

What kind of motorbike finance do you offer?2021-10-04T21:10:05+01:00

If you decide to finance your new motorbike or scooter through us, we’ll be looking to offer you one of three types, these are:

– Hire Purchase (HP) – this is the most common finance. The lender owns the bike and you hire it from them until you’ve made all the monthly payments and your option to purchase fee, then it’s yours.

– Conditional Sale (CS) – this is pretty similar to HP, except there is no option to purchase fee.

– Personal Contract Purchase (PCP) – not so different from HP in that the lender owns the bike until you’ve paid the agreed monthly payments, but you still don’t own it. Then you can hand it back, use any value in the bike as a deposit to get another one, or pay what’s called a balloon payment, you’ll know how much this is when you take the finance, and then the bike is yours.

– Personal loans – the bike is yours as soon as the money reaches the dealer, you then pay the agreed monthly amounts to the finance company until it’s paid off in full. Job done.

As with signing any contract, you need to be sure you understand what you are agreeing to. So, if you have a question, no matter how insignificant you think it might be, ask us. We’re happy to help.

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