Motorbike Loans: Dream of today's generation

Feb. 22, 2010 - PRLog -- The speed and looks of the motorbikes are the two most important factors that attract everyone towards itself. Moreover, now-a-days there are so many stylish bikes in the market which are just awesome. Every youngster want to ride a bike of his own these days. Great mileage is another factor due to which people opt for buying a bike. Also, many people prefer motorcycle as their mode of transport because of the convenience and low maintenance associated with it. A better style and look makes a bike more expensive. But, since there are so many other expenses which makes it almost impossible to even think of buying a bike. Therefore, motorbike loans have been introduced in the market to fulfill the dreams of people and let them ride a bike of their own.

Motorcycle loans are of two types, namely secured and unsecured. In the secured case, the borrower is required to pledge a collateral against the loan. The lender in this case is risk free if the borrower fails to repay the complete loan amount as he can recover his amount on the basis of collateral. This benefits the borrower with lower rate of interest and a larger loan amount. But in the unsecured case, the borrower is not required to pledge any of his valuable assets as security against the loan. As the lender in this case is at great risk, therefore he imposes higher rate of interest on the loan. This option is benefial for those who either cannot afford a collateral or are not willing to pledge it against loan like tenants and non-homeowners. With the help of these loans, the borrowers can even buy the older bikes. But, the only condition being that those bikes should not be more than 5 years old. The repayment period of these loans ranges about 18-84 months. And, these loans can finance upto 90 - 100 percent of the cost for your motorbike. Even the borrowers with bad credit like CCJ's, bankruptcy, arrears, defaults etc. can also avail these loans. Before applying for such loans, one should satisfy some conditions like the borrower must be above eighteen years of age, should have a job and should be a citizen of uk. The loan amount, interest rate and repayment term varies with a number of factors like type of loan, model of bike, regular or modified, new or used bike, monthly income, repayment capability and amount of down payment made.

Since online searching is one of the best ways to search for a best deal over the internet. Therefore, a proper online financial market need to be searched out for an affordable deal. Comparing various loan quotes form different lender will let you grab a deal with reasonable rates. To get the application of loan, you are just required to fill a single online loan form. The lender will verify the details and submit the borrowed amount in your checking account within hours.

Thomas Mark is advisor of title car loan, online title loan, online title loan and motorcycle title loans. For more information visit http://www.motorcycleautocartitleloans.com