How motorcycle finance works
Motorbikes are often bought with a personal loan or hire purchase, repaid in equal monthly payments that include interest. Some dealers also offer PCP deals with a final balloon payment, which this calculator doesn't cover.
Interest is worked out monthly at one twelfth of the annual rate. Lenders may calculate interest differently (some charge it daily), so your actual payments can differ slightly.
Worked example
A £10,000 motorcycle with a £1,000 deposit means borrowing £9,000. At 9% over 48 months, the monthly payment is £223.97, £10,750.34 in total.
Other costs
Budget for insurance, protective gear, servicing, road tax and an MOT once the bike is old enough.
Inputs for the motorcycle loan calculator
Motorcycle price
The price of the bike, including any extras you're financing.
Deposit
What you're paying upfront, including any part-exchange.
Interest rate (per year)
The annual interest rate on your finance. The rate shown is only an example, so enter the rate from your quote.
Term
The length of the agreement in months.
CALCULATOR QUESTIONS
Motorcycle loan calculator questions
How much will motorbike finance cost per month?
Enter the price, deposit, rate and term above. For example, borrowing £9,000 at 9% over 48 months costs £223.97 a month.
When do I own the bike?
With a personal loan, straight away. With hire purchase, after the final payment.
Does a bigger deposit lower payments?
Yes. Borrowing less reduces both the monthly payment and the total interest.
Does this cover PCP?
No. PCP has an optional final balloon payment, so its monthly payments are calculated differently.