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10 Cheap Motorcycle Loan In Singapore
Looking for cheap motorcycle loan? We can help! Get hassle free quotes from trusted companies. Riding a motorcycle is one of the most popular and convenient ways to move around Singapore since cars are notoriously expensive. Owning a bike still costs a sum of money and getting a cheap motorcycle loan helps you to pay the least in fixed installments over a period of time. Let us help you find cheap motorcycle loan by recommending trusted companies.
1. SGCARLOAN – Car and Motorcycle Loan & Insurance 
SGCARLOAN is an automotive service provider for vehicle loans and insurance, helping potential owners looking to buy a vehicle from another owner. They will help you to source the best deals for vehicle loans and insurance, stretching your dollar in the long run.
Their team is experienced and will ensure that you understand the nitty gritty details before inking the deal. Whether its a car, motorcycle, or commercial vehicles, they will help you to get your desired loan package at the best rates!
They will also provide you with the best customer service support, from presales, to aftersales services.
| Website: | https://sgcarloan.sg/ |
| Address: | 73 Upper Paya Lebar Rd , #07-01-H (S) 534818 |
| Phone: | 8827 9001 |
2. Tan Wei Motorcycles
Tan Wei, a seasoned player in the automotive world since 1995, made a bold move into the motorcycle dealership scene in 2022 and has been riding the wave of success and growth ever since.
Armed with a wide variety of motorcycles, you’ll definitely be spoiled for choice, whether it’s at their Tan Wei @ Carros Showroom, or Tan Wei @ Tagore Showroom.
Further boosting their credibility is the stellar 5 Stars Carousell, Google & Facebook reviews written by their customers, most of them detailing exceptional service offered by Tan Wei’s professional sales team.
Additionally, they also provide competitive in-house financing interest rates, with no hidden fees, & loans for all classes of vehicles.
Get the cheapest motorcycle loan and get instant approval in minutes. The application process is easy, fast and hassle free. With Tan Wei Motorcycles, getting a new ride is easier than ever.
In the market looking for the Motorcycle of your dreams? Contact Tan Wei Now!
| Website: | TAN WEI MOTORCYCLES @ CARROS |
| Address: | 60 Jalan Lam Huat, #05-02/03/04/14/15 Carros Centre, S737869 |
| Phone: | 8123 5535 |
| Website: | TAN WEI MOTORCYCLES @ TAGORE |
| Address: | 9 Tagore Lane, 9@Tagore, #01-03, S787472 |
| Phone: | 9183 7566 |
3. Extol Global
Extol Global stands out as the ultimate choice for your motorcycle loan needs. With a friendly customer service, they guide you through every step, ensuring a seamless borrowing experience.
Extol Global offers the most affordable installment plans tailored to your financial capabilities. Their friendly staff assists you in finding the perfect financing solution, prioritizing your satisfaction above all while being transparent.
By choosing Extol Global, you gain access to a trusted partner committed to making motorcycle ownership a reality.
Furthermore, Extol Global’s dedication to affordability sets them apart in the market. They understand the financial needs of riders and work tirelessly to provide flexible repayment options with competitive interest rates.
With Extol Global, you not only secure the motorcycle of your dreams but also enjoy peace of mind knowing you’re getting the best financing deal available. Don’t let financial constraints hinder your passion for riding; trust Extol Global to support your journey with unmatched customer service and affordable installment plans.
| Website | https://extolglobal.com/ |
| Contact | Aisyah 8218 8643 Admin 8028 1851 |
| Address | 22 Pandan Road, Singapore 609274 |
4. Bugis Credit – Used Motorcycle Loan
Bugis Credit offers an easy solution for motorcycle loan. With flexible terms and competitive rates, you gain access to seamless loan processing, ensuring quick approval and disbursal. Furthermore, Bugis Credit provides personalized assistance throughout the loan tenure, guiding you towards financial stability.
Moreover, Bugis Credit offers convenient repayment options, easing your financial burden. Ultimately, choosing Bugis Credit for your motorcycle loan empowers you to hit the road with confidence and peace of mind.
In addition, Bugis Credit prioritizes customer satisfaction, ensuring a hassle-free experience. With transparent policies and no hidden charges, you can trust Bugis Credit for your motorcycle loan.
Through Bugis Credit, you unlock a pathway to your dream motorcycle, without compromising your financial security. By selecting Bugis Credit, you start on a journey of reliability and trustworthiness. Choose Bugis Credit today and experience the freedom of motorcycle ownership, backed by a trusted financial partner.
| Website | https://www.bugiscredit.sg/contact-us/ |
| Phone | 6345 9123 |
5. Revology Bikes
If you are looking to buy a motorcycle, Revology can help you get a cheap motorcycle loan with flexible financing options. They offer low interest rates with transparent breakdown and no hidden charges. Have a bike which you want to purchase from direct owner and looking for the cheapest motorcycle loan? Contact them today and provide the bike model, COE and the selling price for a quotation.
Revology, your one-stop shop for all of your motorcycle finance needs. Get cheap motorcycle loan options with no hassle. Furthermore, they provide workshop services which includes Basic Servicing (Engine Oil / Oil Filter / Spark Plugs / Brake Pad), Drivetrain Servicing (Chain & Sprockets / Belting Replacement), Tyre Change, Battery Replacement, Fork & Suspension Servicing, Major Servicing (Valve Clearance, Top / Full Overhaul, etc) and also Motorcycle Towing Service.
| Website: | https://revologybikes.com/services/#LOANS |
| Address: | 25 Kaki Bukit Road 4, Synergy@KB Singapore 417800 |
| Phone: | 9146 9264 |
6. Skylink Motor
Skylink Motor offers up to 7 years of loan for your bike. Additionally, they offer a wide range of bike models and services for all your motorbike needs. From sales of new and used motorcycle, motorcyle leasing, credit financing, insurance, service and repairs. They are your one stop motorcycle shop. A highly recommended shop known for their friendly staff with fast and reliable service.
| Website: | https://www.skylink.com.sg/finance/ |
| Address: | 1 Bukit Batok Crescent, #08-02/03, Wcega Plaza, Singapore 658064 |
| Phone: | 9177 5858 |
7. Heng Motor
Incorporated since 1987, Heng Motor Enterprise is an established quality brand name in the motorcycle trade. With 2 motorbike shops located in the East and West of Singapore, they conveniently provide motorcycle services and repairs. Whether you need a cheap motorcycle loan or you are looking for a new bike, this team of bike specialist are here to help you. A
For a loan amount of $20,000 with down payment of $5,000. You are looking at a monthly installment of $312.50 over 60 months. And if you could cough up a downpayment of $10,000, your monthly installment will be $208.33.
| Website: | https://www.hengmotor.com/contact-us |
| Phone: | 6747 8788 |
| Address: | 471 Changi Road 5 1/2 M.S (S)419889 |
8. Speed Credit
Since 2000, Speed Credit has been offering the lowest possible interest rate for COE Renewal Loan for private cars and commercial vehicles in Singapore. In the recent years, they have extended to offer COE Renewal Loan Service for motorcycles. From 4.98% interest rate with a loan tenure of up to 7 years, Speed Credit does loan approval within 2 days.
On top of the low interest rate for Motorcycle COE Renewal Loan, Speed Credit has made sure that all their processes are seamless and hassle-free so you can save both time and money. Enjoy the convenience of not having to queue at LTA, or jump through hoops in OneMotoring. Reach out to them to answer all your COE loan-related questions for your motorcycle, they are more than happy to do all the work for you.
| Website | https://www.speedcredit.com.sg/motorcycle-coe-renewal-loan/ |
| loan@speedcredit.com.sg |
9. 118 Credit – Used Motorcycle Loan
118 Credit stands out as the premier choice for your motorcycle loan needs in Singapore. With a user-friendly online platform, accessing funds for your dream bike has never been easier. Benefit from low interest rates and flexible repayment plans tailored to suit your financial situation.
Moreover, 118 Credit offers swift approval and disbursal, ensuring you hit the road in no time. By choosing 118 Credit, you gain access to expert financial guidance every step of the way. Additionally, their commitment to customer satisfaction ensures a seamless and transparent borrowing experience. Don’t let financial constraints hold you back from owning the motorcycle you desire; trust 118 Credit to make your dreams a reality.
Unlock the thrill of motorcycle ownership with 118 Credit as your trusted financial partner today.
10. Motorcycle Exchange
Motorcycle Exchange offer one of the lowest-interest rates when you purchase a motorcycle from them. In fact, for a limited time period, customer who purchases at their showroom will receive a flat interest rate of 3.28%* on any bike model or class type. *The 3.28% interest rate does not apply to financing loans.
Just provide your credit bureau report, driver license, identity card and CPF statement and they will handle the rest. Get your dream motorcycle in just 1-2 days.
| Address: | 148 Jalan Besar, Singapore 208866 |
| Phone: | 6291 1680 |
What is a Motorcycle Loan?
In Singapore, a motorcycle loan is a type of financial assistance provided by banks, financial institutions, or licensed moneylenders to individuals who wish to purchase a motorcycle but lack the immediate funds to do so.
This loan allows borrowers to acquire the motorcycle they desire while spreading the cost over a period of time through regular repayments, typically with interest. Motorcycle loans in Singapore often come with varying terms and conditions, including interest rates, loan tenure, and eligibility criteria based on factors such as credit history and income.
Where Can You Get the Cheapest Motorcycle Loan?
In Singapore, you can obtain cheap motorcycle loan from these 5 sources, including:
- Banks: Many major banks in Singapore offer motorcycle loans with competitive interest rates and flexible repayment options. Customers can apply for loans directly through the bank’s branches, website, or mobile app.
- Financial Institutions: Non-bank financial institutions such as finance companies and credit cooperatives also provide motorcycle loans. These institutions may offer specialized loan products tailored to different customer needs.
- Licensed Moneylenders: Licensed moneylenders in Singapore may offer motorcycle loans to individuals who may not qualify for loans from traditional banks or financial institutions. However, it’s important to exercise caution and ensure that you borrow from reputable and licensed moneylenders to avoid potential scams or predatory lending practices.
- Dealerships: Some motorcycle dealerships in Singapore may offer in-house financing options or partnerships with financial institutions to help customers secure loans for their purchases. These arrangements can streamline the buying process and may offer competitive financing terms.
- Online Lenders: With the rise of online lending platforms, borrowers can also explore digital avenues to secure motorcycle loans. These platforms often provide convenient application processes and quick approval times, making them a viable option for some borrowers. One such example is GSX Digital Bank.
Regardless of where you choose to obtain a cheap motorcycle loan, it’s essential to compare interest rates, loan terms, and fees across different lenders to find the best deal that suits your financial situation and preferences. Additionally, always ensure that you understand the terms and conditions of the loan agreement before committing to any borrowing arrangement.
8 Tips for Getting the Cheapest Motorcycle Loan
Getting the cheapest motorcycle loan involves careful planning and consideration. Here are 8 tips to help you find the most affordable financing option:
- Compare Interest Rates: Research and compare interest rates offered by different lenders, including banks, financial institutions, and online lenders. Even a small difference in interest rates can significantly impact the overall cost of your loan.
- Improve Your Credit Score: A higher credit score typically qualifies you for lower interest rates. Before applying for a motorcycle loan, work on improving your credit score by paying bills on time, reducing outstanding debt, and correcting any errors on your credit report.
- Negotiate Loan Terms: When discussing loan terms with lenders, negotiate for lower interest rates, longer loan tenures, or any other favorable terms that can reduce the overall cost of borrowing. Lenders may be willing to offer discounts or incentives to attract customers.
- Increase Down Payment: Making a larger down payment reduces the amount you need to borrow and can result in lower monthly payments and interest charges. Aim to save up for a substantial down payment before applying for a motorcycle loan.
- Consider Secured Loans: Secured loans, where the motorcycle serves as collateral, often come with lower interest rates compared to unsecured loans. However, keep in mind that defaulting on payments could result in the repossession of your motorcycle.
- Shop Around: Don’t settle for the first loan offer you receive. Shop around and explore multiple lenders to find the best deal. Online comparison tools and loan marketplaces can help you quickly compare loan offers from different lenders.
- Avoid Add-Ons: Be cautious of optional add-ons or insurance products offered by lenders, as they can increase the total cost of your loan. Evaluate whether these extras are necessary and if they provide value for money before agreeing to include them in your loan package.
- Read the Fine Print: Carefully review the terms and conditions of the loan agreement, including any hidden fees, prepayment penalties, or other charges. Understanding the full cost of the loan upfront can help you avoid surprises later on.
By following these 8 tips and being proactive in your search for a cheap motorcycle loan, you can increase your chances of securing the cheapest motorcycle loan available to you.
Alternatively, you can look here for cheap car loans in Singapore.
