This fools most people because it only increases the payment slightly since the extra hidden fees are amortized over a typical 60 month term. Many times banks add in hundreds of dollars in hidden fees. If you are planning to get financing from a bank, always verify the numbers before you sign the contract. Since backing out the fees from the rate is a complex calculation, it is much simpler to ask for the APR without administrative fees. In these situations you must either back out the fees from the rate or ask the finance lender what the APR is without the administrative fees included in the rate. One item to watch out for when financing a bike is the situations where the finance lender includes fees into the interest rate. Other Consideration Before Financing a Motorcycle Start Date: This is the date of your motorcycle purchase. Sales Tax Rate: This is the sales tax that will be applied to your motorcycle purchase. However, extending the term can lower your monthly payment. The average motorcycle is financed about 4 years or 48 months. Term (months): This is the number of month you will finance your bike. Interest Rate: This is the Annual Percentage Rate (APR) on your loan, quoted as a percentage. For instance, if your trade-in motorcycle has a remaining loan of $5,000, then you would enter $5,000 in this cell.

Owed on Trade: If your trade-in from above has a loan on it, you will enter the payoff amount of the loan in this cell. Trade In: If you are trading in your current motorcycle this is the amount of money the motorcycle dealer is giving you for trading in your current motorcycle. This should not include money received from your trade-in filled in below. Down Payment: If you have cash to put down with your purchase, it goes in this cell. It should include the cost of the bike including accessories, extended warranty and other add-ons. If you have any concerns or questions about your loan agreement, seek advice from your lawyer or accountant before signing.Motorcycle Price: This is the total amount of money you will finance with your bike purchase. We'll guide you through the loan contract, help you understand your rights and obligations, and then ask you to sign it.

Read more about mechanical breakdown insurance The cost of these options can be included in your repayments. We also offer mechanical breakdown and motor vehicle insurance packages to protect you from unexpected expenses. Read more about Payment Waiver Mechanical breakdown insurance Payment Waiver may provide protection if the unexpected happens. You can’t predict when you might be affected by redundancy, illness, injury or even death. Protect yourself from the unexpected Payment Waiver See motorcycles for sale on Trade Me Motors Look out for the ‘Apply with MTF Finance’ button on Trade Me private listings.

Whether you buy from one of our dealers, privately or online, we can help. Whether that’s rounding up the herd on a quad, or making your next delivery on a scooter. Our network of dealers can help you find a motorcycle that’s within your budget and right for the job.

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