Motorist app now provides loans for new and second-hand motorcycles

The new loan service provides added convenience and purchase options for its users.

by Justin Choo

Motorist has just introduced a whole slew of flexible financing options targeted at motorcycle riders.

Typically, hire purchase is only available through motorcycle dealerships and distributors but Motorist users can now take loans through the app for the purchase of brand new and second-hand motorcycles. You can even purchase second-hand motorcycles directly from existing owners through the hire purchase program that Motorist offers.

Furthermore, Motorist will provide loans for all motorcycle purchases within the app, regardless of the year of manufacture or model of the motorcycle. Motorist has set the Loan to Value (LTV) ratio at seventy per cent of the purchasing price, which gives loanees the option and flexibility to easily purchase their vehicle.

Motorist’s latest move aims to cater to the increasingly diversified needs of its users, and Damian Sia, Founder and CEO of Motorist, explains that this new feature is a way for the company to broaden their offerings and services as they continue to improve the convenience and flexibility of the app.