Guide on Getting a Motorcycle Loan in Singapore

Motorcycle Loan

There’s no greater joy than having a motorcycle to start your delivery service business and earn extra income to support your family. But it can be challenging to get one if you don’t have the right financing options. It’s even more worrisome when you think of how long it’ll take to save up for one, especially if you’re not earning much at the moment. Thankfully, there’s a better option than having to wait that long – a motorcycle loan. 

Several financial establishments in Singapore are willing to help you achieve your goal in a shorter time by giving out motorcycle loans. 

This offer helps you get your bike faster and allows you to enjoy the vehicle even without payment. Read on to get an overview of getting motorcycle loans in Singapore and the best option for you.

Where Do I get a Motorcycle Loan in Singapore?

Generally, two options are available: Bank loans and Motorcycle dealership Loans. 

Bank loans

This is one of the most common ways of getting a motorcycle loan in Singapore. You could apply for this offer in a bank, but the situation is somewhat tricky. Remember that there’s a high risk involved with motorcycles, so banks might not be inclined to lend “motorcycle loans.”

However, you could opt for a personal loan from the bank. In this case, you’re not specifying that you need the loan for purchasing a motorcycle. This is easy; complete the documentation process and wait for a few days.

Motorcycle Dealership Loans

Motorcycle dealers also offer in-house financing options for people looking to get a bike without making complete payments. 

Usually, these deals are enticing because they have competitive rates, but it’s more expensive than using a bank. On the other hand, they have better incentives than financial institutions. 

Other Loan Alternatives – Unsecured Personal Loan

Getting a motorcycle loan from banks and dealerships is challenging if you have a low credit rating. If you don’t meet these standards, don’t worry, you can still get a loan for your bike. You only have to apply for unsecured personal loans from licensed moneylenders.

Consider a personal loan from i-Credit Ltd if you seek a shorter loan term and lower interest rates. Simply fill out the form online and visit our office to finalize, and you receive your cash instantly! 

To accommodate the needs of each person, we provide a variety of flexible payment alternatives. Please get in touch with us using the E-application form button below for more information on our loan instalments and motorcycle finance alternatives.

How Do I Get A Motorcycle Loan?

Getting a loan for a bike is very easy. You only have to compare your options and choose the perfect loan option for you. Here’s what you should note:

A bank motorcycle loan offers low-interest rates and long-term repayment duration. You must have a good credit rating and be ready to go through the extended application process.

A motorcycle dealership loan is straightforward and doesn’t require the lengthy processes that banks impose. On the other hand, get ready for higher rates and shorter times to pay up.

Unsecured personal loans by i-Credit Licensed Moneylender are fixed at a 4% interest rate. We provide fast approval loan terms with flexible repayment plans to cater to each individual. Fill out the e-application form below, and we will reach out to you.

Is it Worth Getting a Motorcycle Loan with I-Credit Licensed Moneylender?

Of course! Getting a loan is the best option when you can’t wait a long time to save up for a motorcycle. Plus, repaying these loans helps build your credibility if you want to take out another loan in the future.

But we know how difficult it is to find a suitable lender to help you out. That’s why we’ve made it easier for you to get a motorcycle loan and start fulfilling your money dreams. Our team of experts at i-Credit Licensed Moneylender will guide you step by step, helping you make an informed decision so that you can get on the road as soon as possible.

Get started now! Click the button below to apply for your motorcycle loan today.