Motorcycle Buying Guide: How to Buy a Motorcycle

Chasing freedom – What you need to know before you buy your motorcycle

A motorcycle is a dream purchase for many Australians – the open road, the wind in your hair, or even just the ability to park for free in the CBD. Whatever you want from your bike, you'll need to know the best way to actually get a motorcycle. Below you'll find some tips and tricks to help you make your motorbike purchase, and also some financing options if you don't have the full amount at your disposal. So what to do now? Read our guide and then take the plunge into motorcycle ownership.

Quick tips on purchasing a motorcycle

Buying any sort of vehicle can be a big financial commitment for most people and this includes buying a motorcycle. Having a motorcycle can be a wonderful experience for those with the confidence and experience to ride one but when it comes to buying your own motorcycle there are a few things that you need to take into consideration.

  • Price. Buying a motorcycle needs to be given the same thought and consideration as you would exercise if you were making any other considerable investment. As is the case with cars and trucks, buying a motorcycle can be a costly affair, as the price can be quite high depending on the type of motorcycle you are looking for and whether you buy new or used.
  • Safety. In addition to the financial side of things you also need to look at other important issues, such as the suitability of the machine that you are looking to purchase and also the safety aspects. For example, if you buy a second-hand motorcycle from a private seller you will be generally be taking greater risks in terms of safety than if you bought a brand new and fully checked motorcycle from a dealer.
  • Your experience level and type of riding. Your experience level should give you an indication of the type of bike you should be looking at, and so will the type of riding you think you'll be doing. On-road or off-road, sport bikes or more lifestyle-suited models, make sure you get a bike that's going to compliment your skills and needs.
  • Accessories. There are various other things you'll need to purchase along with your bike, so make sure you factor the cost of all them into your budget. Remember things like a helmet, jacket, gloves, rain and weather gear, boots, and dedicated eye gear if you need it. All of this doesn't come cheap, so make sure you shop around.

It is important not to get carried away and rush into any decisions when you are buying a motorcycle, as this could otherwise end up being a costly or even a dangerous mistake. You have to respect that these are powerful machines and therefore safety should be paramount. This, coupled with the variety of other considerations that have you need to think about, means that you should do your research before you purchase a motorcycle.

Arthur's Wild Ride

Arthur had always wanted a motorcycle, and when he turned 25 he decided he would get it for himself. Not wanting to spend too much, and hearing that it was common to replace the bike every two to three years, he decided to buy a second-hand bike. He looked into a few second-hand bikes and was a bit taken back by the price – not to mention all the other add-ons he'd need to purchase like a helmet and riding gear. He didn't think he'd be able to save up the money on his own, so decided to compare his financing options.

He didn't think he'd be able to save up the money on his own, so decided to compare his financing options. He saw that he could secure his motorbike purchase against the loan and get a lower rate in return. He found a loan that he was eligible for and that was offering a competitive rate. Working out his repayments, he sees that he can borrow the amount he needs and repay the loan in two years.

5 key considerations before making the purchase

You need to remember that buying any sort of vehicle, including a motorcycle, is a big step and there are a number of things that need to be considered before you take the plunge. Some of the things that you need to think about before you purchase a motorcycle include:

  • Whether to buy new – Most people would, of course, like to be able to buy a gleaming brand new motorcycle but this is dependent on your budget amongst other things. You need to look at your finances and work out whether you can afford to buy new or whether you need to be looking at your second-hand options.
  • Decide which motorcycle you want – Some people will already know exactly which make and model of motorcycle they want whereas others will be more flexible. If you are open to different makes and models at the right price, make a list of features you want from your new motorcycle, such as the engine size, as you can then target your search accordingly.
  • Comparing models and prices – Whether or not you have a particular make or model in mind, it is important to compare prices on motorcycles before you commit, as there could be a big difference in price based on where you buy from. This is something that you can do online, which means that you don't have to go out of your way to try and find a good deal.
  • Safety aspects – Motorcycles are big, powerful machines and in order to reduce the risk of accidents and issues, you need to take action to ensure that the motorcycle you buy is safe. This is particularly important if you are buying a used machine from a private buyer, as you do not have the same safety checks and reassurances as you would with a new motorcycle. You can consider employing the services of experts in the motor industry to carry out checks before you commit – even if you have to pay a little cash for this service, it could save you a fortune in the long run and more importantly could save you from serious accidents resulting from riding a faulty motorcycle.
  • The funding for your motorcycle – Whether you buy a new or used motorcycle, the cost is likely to be quite high, so one of the first things you will need to look at is the funding for your purchase. There are a number of different options that you can look at when it comes to funding. You may be lucky enough to have the money in savings to make your purchase outright, otherwise you will need to look at options such as financing from the dealership or a bank loan to make your purchase.

Motorcycle Loan Offer

NRMA Motorcycle Loan


6.99 % p.a.

fixed rate


7.54 % p.a.

comparison rate

  • No monthly fees
  • Terms up to 7 years
  • 5 hour pre-approval
Security Logo

100% confidential application

Motorcycle Loan Offer

Apply for an NRMA Motorcycle Loan to purchase a new or used motorcycle and enjoy a great fixed interest rate.

  • Interest rate from: 6.99% p.a.
  • Comparison rate: 7.54% p.a.
  • Interest rate type: Fixed
  • Application fee: $380
  • Minimum loan amount: $5,000
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Motorcycle loans comparison

Rates last updated March 23rd, 2018
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
NRMA Motorcycle Loan
From 6.99% (fixed)
1 to 7 years
Finance your brand new motorcycle with a competitive 6.99% p.a.
Latitude Personal Loan (Secured)
From 12.99% (fixed)
2 to 7 years
$250 (Loans under $4000 - $140)
Benefit from a tailored fixed rate from 12.99% p.a. to 28.99% p.a. with a loan that can be used for any purpose.
St.George Secured Personal Loan - Fixed Rate
8.49% (fixed)
1 to 5 years
Use your car as security and benefit from a competitive interest rate.

Compare up to 4 providers

Putting in some time and effort into doing your research before you make your decision means that you can enjoy greater peace of mind when you are buying your motorcycle as well as cutting the risk of problems and issues that could arise from buying a defective or unsuitable motorcycle. Remember to compare your loan options if you're considering finance to ensure you get the best deal.

Picture: Shutterstock

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