Bad credit motorbike finance

Are you looking for motorbike finance but worried about bad credit? Have you been turned down by other lenders for motorbike finance? We consider motorbike finance applications even if you’ve been declined elsewhere.

Bad credit motorcycle finance

You might have ‘bad credit’ because you’ve missed a few payments on household bills, or because of a weak credit profile where you haven’t used finance or credit previously. At the other end of the spectrum, you might have been made bankrupt and you could be trying to work to rebuild your credit score.

No matter what your circumstances are, we believe that just because a person has bad credit, it doesn’t mean they should be denied access to finance so they can get the motorbike they need, as long as they can afford it.

Who can access motorbike finance?

Many people may need a reliable motorbike to get to work or use socially. Moneybarn recognises this and we specialise in lending to customers with bad credit. Our focus is always on making responsible lending decisions, so we’ll  consider carefully whether you can comfortably afford a finance agreement with us, and importantly whether you are likely to be able to afford it for the whole duration of the agreement. We consider a range of factors that allow us to help customers who might have been declined elsewhere.

If you have bad credit, have a CCJ or are currently in an IVA, we can still help to provide finance so you can get the ideal bike for you.

What kind of motorbike finance do we offer?

Moneybarn’s motorbike finance works as follows:

  • Minimum lend: £3,600
  • Maximum lend: £15,000
  • Minimum initial deposit: £400
  • We’ll need an invoice and sales advert from the dealer for the motorbike you want

Motorbike finance affordability and proof of income

On our bad credit motorbike finance deals, we set a rule that the monthly repayment cannot be more than 25% of a customer’s net monthly income. The customer must also have a net monthly income of £1,000 for single applications, and £1,300 per month for joint applications.

We always ask for proof of income in the form of two consecutive month’s payslips or bank statements, which must be dated within the last three months. All indicated income must be from the customer’s current employer. Our affordability checks help protect our customers by ensuring that monthly payments will be reasonable and affordable.

What motorbikes can you get on finance?

Moneybarn can finance a variety of motorbikes, choosing from a range of quality and trusted manufacturers. Moneybarn do have restrictions on the motorbikes we provide finance on. The motorbike must:

  • be no more than 5 years old at the start of the contract
  • not have a total mileage of more than 30,000 at the start of the contract
  • have a minimum engine size of 126cc

For more information, our motorbike finance explained guide can help.