How quickly can I get a motorcycle loan settled?

If you’re looking at purchasing a motorcycle, you might be wondering how long it will take to have a motorcycle loan settled. Usually, the time it will take a loan to be settled and approved will depend on your lender. Some traditional lenders may take days or even weeks to approve your loan, which would mean waiting even longer for your dream motorcycle. However, you might have more success with a private lender, who will usually be able to have your motorcycle loan settled quickly.

Read on below to find out more.

How quickly can I get a motorcycle loan settled?

When you’re applying for a motorcycle loan, the last thing you want to do is have to wait days or weeks for an answer. Some lenders will take their time in reviewing your application, which means a longer waiting period for you before you can purchase your motorcycle. However, you might find that using a private lender can speed up the process.

Depending on your lender, approval for a private loan can take anywhere from a day or two to a couple of weeks. In most cases though, private lenders can have you approved in a matter of days, unlike traditional lenders who may take much longer to get a motorcycle loan settled.

When you’re applying for a private motorcycle loan, your lender may ask to see:

Personal information – Most lenders will need you to provide documentation that proves your identity, such as a passport, driver’s licence or birth certificate. You may also need to provide proof of your address.

Employment information – Generally, this needs to be evidence of your current salary or wage, plus any extra income you may be receiving. Your lender may also need to see other proof of income such as your most recent payslips or tax returns.

Financial information – Your lender may ask for proof of your financial situation. This may include whether you own your home or rent, and proof of your assets and expenses. Your lender may also ask you to provide proof of any savings with other banks if you have any.

Any other debts in your name – Your lender may also want to know about any other debts you have. This may mean providing any other credit card details, or details of any loans that you have, such as a mortgage or a personal loan.

Credit history – Most lenders will check both your credit record and credit score to better understand your financial history. A lender may check for any previous loans you have defaulted on, or any missed payments you have listed. Depending on your lender, having a default in your credit history may impact your loan application. However, some private lenders may offer specialty loans to those with less than perfect credit scores.

Before you begin your application, it is always a good idea to double-check with your lender to find out exactly what you need to apply. Every lender is different, and the application process may vary depending on your lender.

Where does Tiger Finance come in?

If you’re looking for a motorcycle loan, Tiger Finance can help you regardless of your credit score. We have helped countless Australians with both good and bad credit ratings to be funded for their dream motorcycle.

We can help to get you a loan in four easy steps. You will have a free consultation with one of our specialists, and we will tailor-make you a loan. We will negotiate with lenders on your behalf before you are approved. It’s never been easier for you to get your motorcycle loan approved.

How we can help

Tiger Finance is here to help you to get your dream motorcycle regardless of your credit score. Our application process is simple and easy, and we can have you approved on the same day that you apply if you’re able to meet our criteria. Our loan specialists are here to support you every step of the way.

If you’re ready to drive away in your new motorcycle, call us today for your free initial consultation.