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Finance FAQ


The Honda Shop is unique in the Motorcycle industry, where other dealerships are tied to a single lender, The Honda Shop directors are also the directors of our licensed finance brokerage called WA Loan Co.

So What Does WA Loan Co Have To Offer?

At WA Loan Co we offer competitive insurance and motorcycle finance. In addition to personal secured and non-secure bike loans we offer commercial bike finance products including hire purchase and leasing for motorcycles, bikes, scooters and a range of other speciality vehicles.

Before you sign anywhere give WA Loan Co the chance to give you a payment figure, it could easily save you money. If it’s not a Honda you are chasing, if it’s a private seller and not a dealer that’s fine we can help. We can source any Brand and Any model motorcycle at competitive prices and with affordable payments. Contact us for a free No Obligation quote!

Secured personal bike loan?

Minimum loan amount for a new secured personal motorcycle loan is $1500 and $4000 for used bikes preferably no more than 8 years old. The finance will be secured on your purchase at a fixed interest rate that will not go up over a 2 to 5 year term. WA Loan Co also provides a wide range of insurance products for motorcycles, and a unique 2nd chance finance service for people with bad credit or just having difficulty getting a loan.

To get things started with your bike loan you can contact us or even apply online

Unsecured personal loan?

Minimum for an unsecured personal loan is $4,000.00. Suitable for holiday loans, debt consolidation, furniture, and all general purpose use, even old cars & bikes unsuitable for secured finance, with terms of up to 5 years offered. The interest rates offered are fixed meaning your repayment won’t go up if the Interest rates increase.

Contact us to apply for an unsecured personal

Personal or business finance?

Anyone can apply for a personal motorbike loan. What most people don’t realise is that business finance (hire purchase, chattel mortgage or lease) is available to both companies & individuals, so long as the motorcycle is to be used predominantly for business use, i.e. more than 50% business usage. For example; mobile sales reps, couriers, etc. could qualify for lease or hire purchase. A school teacher driving to & from work would not qualify.

To find out if you qualify for a business motorbike loan call or speak to your tax adviser. Business finance is usually lower in interest rates, and there are many structures available to maximise your budget or tax benefits.

How long does it take to get approved?

A bike loan usually only takes a few hours to be approved, however complex or difficult applications can take a few days. Once approved original finance documents must be signed and the supplier will be paid directly, usually within 1-2 days.

Contact WA Loan Co to discuss the loan you need, or you can apply online to get started now.

Can I get my finance pre-approved before purchasing?

Yes, providing you can give us an idea of what you’re intending to purchase and an approximate price we can put a pre-approval in place subject to normal terms and conditions. This gives you more bargaining power should you wish to purchase a motorcycle privately.

What are my chances of approval?

All lenders consider things such as if you’ve ever filed for bankruptcy, do you own a home, how much is your current income, how long have you been employed at your current job, how long have you lived at your current address, do you have a credit rating, what is your net worth, and so on.

We will complete an application and make a preliminary assessment to ascertain your repayment ability and credit worthiness. This process is part of our responsible lending obligations and will take into account the security over the loan, your current debt level, your income, and your ability to repay the debt. From this we may suggest a proposal to be applied to one or more lenders from our panel that will be suitable to your needs and objectives.

You can do some calculations yourself to determine your monthly budget. Simply deduct your expenses from your after-tax earnings. But it is quicker and easier to use us that’s what we do every day.
You can contact us or even apply for bike finance online.

Are your interest rates competitive?

The Honda Shop has long term associations with a broad range of competitive and trusted lenders who consistently monitor current interest rates to maintain and offer the most competitive deals in Australia.

We challenge you to try and find better service and a better result. By talking to us about your motorbike finance, we can help you save time and money. Contact the Honda Shop or apply online.

I’ve got a bad credit rating?

WA Loan Co will always provide you with the most competitive offers it has available, however those with high risk, bad credit ratings or ex-bankrupts may try the 2nd chance product available. The 2nd chance option takes different criteria into account in relation to approval, but is generally at a higher interest rate due to the higher risk.

If you’ve had some trouble with credit in the past contact us at The Honda Shop to see how we can help you.

Can I buy a motorbike privately? Can I buy from a dealer?

Dealer, auction, private sale and re-finance are all welcome. Some used and second hand bikes may require a vehicle inspection prior to payment, which you will need to discuss with our staff prior to purchase.



Do I need to provide anything with my application?

Each application will have its own requirements depending on your overall profile and the credit guidelines of the proposed lender.

After a completed application is approved the lender may ask for 100 points of ID (such as Driver’s Licence, Medicare Card etc), proof of income (payslips etc), proof of residence (electricity bill etc) – All quite simple.

The general guide is as follows:

  1. Your driver’s License & Medicare card.
  2. Your 2 most recent pay slips.
  3. A copy of your bank statement not more than 60 days old.

If you’re a home buyer.

  1. You will require a copy of a council rates notice.

If you rent.


  • You will require a copy of your most recent rent receipt or a copy of your current lease agreement.


If you are self Employed


  • Most recent tax return.


So as you can see all pretty straight forward.

457 Visa Motorbike Loans

If you are living and working in Australia long-term on a Temporary Business (Long Stay) 457 Visa, you can apply for finance for a new motorbike. Something to keep in mind is that the term of your loan does need to end before the expiry of your visa. Also, your purchase must be from a dealer – no private sales allowed for 457 Visa loans.

Please note: We cannot provide finance to people in Australia on a Student, Bridging or Refugee Visa.


Harley Davidson Loans

Do you have a full time job? Finances in good shape (not currently bankrupt or credit impaired)? Want a Harley but don’t want to use up your savings?

It only takes 5 minutes on the phone with our specialist business manager for him to collect all the information required to find the best Harley loan for YOUR circumstances.