Every car loan lender charges fees - the important part is making sure you account for them when deciding which lender to go with. These fees will vary between lenders - for example, some lenders might charge early repayment fees or redraw fees.

All lender fees and charges are automatically built into Driva’s personalised quotes and into our car finance calculator, so the monthly repayment figure you see is exactly what you’ll have to pay each month (no hidden fees!).

Driva works with a wide panel of lenders to give you the confidence that the options you’re seeing are a good fit for your personal circumstances as well as the vehicle you’re thinking about.

In most cases, yes. For many lenders, your credit score is one of the main factors that will be assessed when deciding whether you’re eligible for a loan. In fact, in some cases, your credit score will impact how your interest rate is set - the higher your credit score, the lower interest rates you’ll be able to access. 

However, for some lenders, your credit score is less important, and other factors like your income, living situation and employment status will be more heavily considered.

No. Getting your personalised quotes with Driva won’t have any impact on your credit score.

When you get your quotes, Driva runs a ‘soft credit check’. This means we’re able to access the credit score that lenders will use to price your car loan, without recording an inquiry on your file or impacting your score in any way.

Once you’ve decided on your preferred lender, submitted your final application to Driva, and we’ve checked to make sure you’re likely to be approved, only then will we share your application with your chosen lender.

A comparison rate is used to help you understand the true cost of a loan. Unlike the Annual Percentage Rate (APR) rate, it includes almost all of the fees that lenders will charge you (but doesn’t include stamp duty fees). You should consider comparison rates as the key metric when comparing car loan quotes from Driva. We’ll clearly specify the comparison rates of each quote so you can clearly see which is going to cost you the least. We recommend relying on the comparison rate or monthly repayment figure when comparing rates, as the quoted APR can be misleading.

Each lender has different eligibility criteria, so it’s tricky to say. For many lenders, your credit score will have a big impact on both your eligibility for a loan as well as the rate you’re charged. In many cases, the higher your credit score, the lower the interest rate you’ll be eligible for. For other lenders, your credit score isn’t the most important factor, and they’ll consider things like your income, age of the vehicle and employment status when assessing your application.

Driva runs a ‘soft credit check’ when you apply for your personalised quotes. This means we can access the score that lenders will use to price your loan, without recording an enquiry on your file or impacting your credit score. After you’ve decided on your preferred lender, and we’ve made sure you’re likely to be approved, we’ll then submit your application to the lender who will run a full credit check.

Absolutely. If you’d prefer to start shopping for a motorcycle with a set limit of what you can spend, a pre-approved motorcycle loan could be a great option for you. If successful, you’ll be pre-approved for a certain loan amount at a fixed interest rate, so you can start looking for your dream bike with the confidence that you’ll be able to afford it. Your pre-approval period cannot be longer than 90 days. After this time has lapsed, you’ll need to start the pre-approval process again.

If you’re looking for motorcycle finance, Driva has a number of finance options available. These include:

• Secured motorcycle loan. Secured loans are our most popular finance product. They will require you to make regular repayments plus interest to your lender. Because your loan will be secured against your bike, you’ll be able to access lower interest rates. They are most suitable for newer bikes.
• Unsecured motorcycle loan. If you’re considering buying an older or used bike, you’ll likely be looking at an unsecured loan. As your bike won’t be used as collateral, your interest rate will be a bit higher than a secured loan.

In order for your loan to settle with any of the lenders on our panel, you’ll need to secure comprehensive insurance. Comprehensive insurance covers all loss or damage to your vehicle, as well as to another person’s property, in the event of a road accident. You’ll need to get comprehensive insurance in addition to the legally required compulsory third party insurance, which provides compensation for any injuries in the event of an accident.

A comparison rate is a percentage that includes both the interest rate and any fees and charges associated with a loan. It provides a more accurate representation of the true cost of a loan and helps borrowers compare different loan options.

Driva's smart financing platform will present you with your best rates based on your profile, but you’ll ultimately decide which lender you want to go with. There are a number of factors that might influence your decision on which lender to choose.

• How long does your loan term need to be? Keep in mind that although a longer loan term will mean that your monthly repayments are smaller, it also means that you’ll end up paying more over the life of the loan.
• Do you want a secured or unsecured loan? Depending on the age of the bike, this decision might be made for you. Often newer bikes (2013 or later) are best suited to secured loans, and older bikes (2012 or earlier) are used for unsecured loans.
• What are my fees? Make sure you’re comparing comparison rates (rather than APRs) to get a more accurate idea of how much your loan will cost you.
• What is your interest rate?  Interest rates will vary significantly depending on factors like the age of the bike and your credit history. All of the motorbike finance options that Driva facilitates are fixed rate, so your monthly or weekly repayments won’t change over the life of the loan.
• Can I afford it? This is the most important question you need to ask yourself. If you can’t afford to meet your loan repayments, you’ll either have your bike repossessed or you’ll face legal action.
• What loan amount do you need? With our bike loan calculator, you can find out the minimum and maximum loan amount available for different lenders, so you can make sure you’re able to borrow the amount you need to.

When it comes to finding the perfect motorcycle, there are a few things you should keep in mind.

• What do you need it for?
• Are you an experienced rider?
• How much do you want to spend?
• Do you want to buy new or second hand?

It’s also always a good idea to take the bike for a test drive before making your final decision.

The length of your loan term will depend on which lender you go with, but normally you’ll be able to get finance for a period of between 1 and 7 years.

Driva takes the hard work out of motorbike finance to make the entire process as transparent and seamless as possible. Getting your personalised rates takes less than two minutes, and once you’ve chosen your preferred lender, getting approved normally takes between two hours and two days.