Types of Motorbike Finance

Outlining Your Finance Options

There are several motorbike finance options available, each tailored to different needs and preferences.

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Types of motorbike finance
HP (Hire Purchase Finance)

Hire Purchase (HP) Finance is a popular option for motorbike financing. Typically, an HP agreement lasts between 1-5 years, with fixed payments throughout the term. You don’t own the bike until the final payment is made, which often includes an "Option to Purchase" fee charged by the lender. Once this payment is completed, ownership of the bike transfers to you. HP Finance is ideal if you plan to own the bike at the end of the agreement and want to avoid a large final payment (also known as a Balloon Payment). MotoFinance works with specialist lenders who may not require a deposit for HP agreements.

PCP (Personal Contract Finance)

Personal Contract Purchase (PCP) is another financing option for motorbikes. PCP agreements typically range from 2-4 years, depending on the bike's age. The key difference between PCP and HP is that at the end of a PCP agreement, you have three options: return the bike to the lender, pay a pre-agreed final Balloon Payment to own the bike outright, or part-exchange the bike to start a new agreement on a different bike. A MotoFinance agent will guide you through these options to determine if PCP is the best choice for your needs.

Personal Loan

Unsecured personal loans can also be used to purchase a motorbike. These loans usually come with fixed interest rates and repayment terms. Personal loans are ideal for customers who want to buy a bike without a license or if the motorbike is a classic model that traditional lenders may not finance. Unlike HP and PCP, personal loans are not secured against the bike.

At A Glance
Finance FeaturesHire Purchase (HP)Personal Contract Purchase (PCP)Personal Loan
Fixed monthly paymentsTickTickTick
Secured against an asset (e.g Vehicle)TickTickCross
Support with vehicle issuesTickTickCross
Avoid (final) balloon paymentTickCrossTick
Avoid excess mileage chargesTickCrossTick
Vehicle is yours at end of agreementTickOptionalTick
Requires initial depositOptionalOptionalCross
The Bike Finance Experts

The MotoFinance team specialise in motor finance, and specifically motorbike finance. We know the industry inside out and are best placed to help you on your journey from a no obligation quote through to getting the keys and the bike on the road.

Get my finance quote now The Bike Finance Experts

Representative Example: Borrowing £4,500 over 48 months with a representative APR of 22.9%, the annual interest rate of 22.9% (Fixed), and a deposit of £0.00, the monthly payment would be £138.94. The total cost of credit would be £2,169.12, and the total amount payable would be £6,669.12.

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MotoFinance
Motofinance is a trading style of Scott Hardy Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN: 928906). Registered in England and Wales with Company Registration Number 12678451. The registered address is 4A Mottram Way, Macclesfield, Cheshire, SK10 2DH. Scott Hardy Ltd is also registered with the Information Commissioner's Office (Registration Number ZA773591). All finance is subject to status and income. We act as a credit broker not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are not an independent financial advisor and we act as their agent for this introduction. We do not charge you a fee for our services. Whichever lender we introduce you to, we will receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). For your reassurance, all of the lenders we work with could pay commission at different rates, but the commission we receive does not influence the interest rate you will pay. Our aim is to secure finance for you at the lowest interest rate you are eligible for from our panel of lenders. We will inform you what the commission amount is in good time before the Finance agreement is executed. By continuing to use the site, you consent to the use of cookies. Further information on cookies and how to disable them can be found in our cookie policy.