OPTION 3 – PERSONAL LOAN
Short of saving up your pennies until they become a tide of pounds, benefitting from a windfall, or being in the simplistically enviable position of being loaded – you could fall back on option three: the personal loan.
The beauty of the personal loan is that it’s just a lump sum of cash, which you can use to fund whatever takes your fancy – the loan is not tied to the bike. The only proviso is that you pay it back at the rate and times agreed. Buy a bike, add some riding kit or accessories, something nice for your partner – the choice is yours
There are various routes to a personal loan, but your own bank is a good place to start... O Get your budget worked out based on what you can afford to repay across the period of the loan – you can borrow anything from £400 to £25,000 over one to five years O Find your perfect bike (the fun bit) O Set a repayment term of one to five years, based on your monthly budget This option’s great if... O You want to own your motorcycle outright from the start of your loan O You want fixed, regular payments O You want the flexibility to buy kit or accessories at the same time
Be aware that... O You can’t just terminate the agreement and hand the motorcycle back to end the loan agreement O You have no protection against the bike’s depreciation in value
power. Built to be an engaging entry level bike that’s also ideal for riders moving to their first big bike, it has the zest and handling to keep experienced riders happy too.