Wisr launches secured motorbike loans via brokers
Australian fintech lender Wisr has added secured motorbike loans to its product range as it targets growth in vehicle finance ahead of the summer riding season.
The ASX-listed non-bank now accepts motorbikes as eligible security for loans. The move extends its secured lending suite beyond cars and other assets.
The product is available through the Wisr Partner Portal and directly to consumers. Customers can secure a loan against a qualifying motorbike and access rates that apply to secured products.
Wisr said the development follows feedback from brokers. The company reported increased demand from consumers for more flexible vehicle finance.
The lender is positioning the new loans within its broader vehicle lending strategy. It launched secured personal loans earlier in the year and is now adding more asset types under that framework.
Broker demand
Head of Broker Nicole Evans said engagement with intermediaries shaped the decision.
"Working closely with our broker partners, we've heard loud and clear that clients are looking for more options when it comes to secured lending. By adding motorbikes to our secured asset list, we're making it easier to access competitive rates on a broader range of vehicles. This is another step in supporting our brokers with products that help them grow their business and meet client needs," said Evans, Head of Broker, Wisr.
Wisr distributes loans through accredited brokers across Australia. The new secured motorbike loans will sit alongside its existing unsecured personal loans and other secured products in that channel.
The company said accredited Wisr brokers can now offer customers a secured loan product that is linked to the value of a motorbike. This structure can support lower pricing than unsecured loans in many cases.
The timing coincides with a traditional rise in motorbike purchases in the warmer months. Dealers and brokers see higher enquiry volumes during this period as consumers look at recreation and commuting options.
Product expansion
Wisr described the launch as another step in its strategy of expanding its secured lending range. The business added secured personal loans earlier in the year and now includes motorbikes as a distinct secured asset type.
The lender uses its Partner Portal to manage broker applications and settlements. Brokers can access product information, lodge applications and track deal progress through that digital channel.
The firm also markets directly to consumers through its own website and digital tools. Customers can apply online and receive loan offers that reflect their credit profile and chosen asset.
Wisr said the secured motorbike product is intended for Australian consumers who want vehicle finance that links directly to the asset they purchase. Securing the loan against the bike can increase the maximum loan amount in some scenarios compared with an unsecured loan.
The product sits within Wisr's broader personal finance offering. That offering includes tools that track debt, credit and budgeting behaviour.
Growth strategy
Wisr has stated that it is pursuing a strategy of sustainable growth in its loan book. The company focuses on prime and near-prime borrowers in the consumer market.
Management has pointed to secured lending as a way of managing risk and pricing. Loans backed by assets such as vehicles give the lender recourse to the security if a borrower defaults.
The expansion into secured motorbike loans signals an effort to deepen relationships with brokers. It gives intermediaries another choice when arranging vehicle finance for clients.
Wisr positions itself as a purpose-built fintech lender in the Australian market. Its proprietary platform combines digital loan origination with tools that give customers visibility over their financial position.
The lender said the secured motorbike loans align with its mission of supporting Australians with products that fit their financial goals. The company plans further additions to its product set as it develops its vehicle lending strategy.