Motorcycle Loans for 2022

If you’re in the market for a motorcycle but don’t have the necessary cash on hand to make the purchase, then you’re likely looking at getting a motorcycle loan. LendingTree helps you compare motorcycle loans from multiple lenders. It’s fast, easy and, best of all, free.

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Best motorcycle loans for 2022

Starting rates*TermsBest for
Digital Federal Credit Union motorcycle loan3.50% APRUp to 60 monthsThose with strong credit
LightStream motorcycle loan4.49% APRUp to 72 monthsThose who want unsecured financing
USAA motorcycle loan5.49% APRUp to 72 monthsThose with military connections
Navy Federal Credit Union motorcycle loan6.95% APRUp to 84 monthsThose with fair credit
*May include autopay or membership discount

How to choose the best motorcycle loan

We looked at more than a dozen of the most popular motorcycle lenders, including banks, credit unions and online lenders, and chose the top four with the best motorcycle loans and most flexible terms available to the widest range of borrowers. Credit unions typically have some of the lowest motorcycle loan rates, but you’ll need to meet membership requirements. It’s also possible to get motorcycle financing through the manufacturer, which offer special rates, especially if you’re willing to jump through a few hoops, such as:

  • • Taking a driver safety course
  • • Using a credit card
  • • Meeting requirements for excellent credit

Which motorcycle loan is right for you?

The best way to get the best motorcycle loan for you is to compare rates and terms from multiple lenders before a motorcycle purchase or motorcycle refinance on your cruiser, sport bike, touring bike, scooter or moped.

How do motorcycle loans work?

Motorcycle loans may be secured or unsecured. A secured loan might have a lower rate, but the lender can also repossess your bike if you fail to make payments. The advantage of an unsecured personal loan is no vehicle-related paperwork.

Ready to finance your motorcycle?

Get your best rate and terms

LendingTree will help match you to lenders that will meet your needs exactly. Benefits of using LendingTree to find your loan include:

  • • Loan amounts from $1,000
  • • Comparison shopping to get your best rate on your loan
  • • Flexible terms to fit your lifestyle
  • Bad credit motorcycle loans for those with less-than-perfect credit

How to apply for a motorcycle loan

Motorcycle loans work a little differently than auto loans, but applying for a new or used motorcycle loan is quite similar:

  1. Check your credit. If your score is lower than you expected, check your credit report for errors that could be dragging it down. The higher your score, the better motorcycle loan rate you’ll receive.
  2. Gather your paperwork. You may need to show proof of income and other documents to potential lenders. Lenders will also want to know:
    • The motorcycle make and year (it’s OK if this isn’t set in stone)
    • The estimated loan amount, including the price of the motorcycle, helmet, gloves and other protective gear, as well as sales tax and registration fees.
  3. Get preapproved for a motorcycle loan. Apply to multiple lenders so you can compare rates and terms.

Estimate your monthly payment using our motorcycle loan calculator

FAQs about motorcycle loans

Should I get a loan for a motorcycle?

If a motorcycle is your primary mode of transportation and you don’t have the cash on hand to buy a bike outright, a motorcycle loan makes sense. Balancing a motorcycle loan and a car payment at the same time might be trickier — paying for a bike with cash instead will save on interest fees. Motorcycles are typically less expensive than cars, but some Harley-Davidsons start around $50,000. Shop for the lowest rate at the shortest term you can afford.

Is it hard to get a loan for a motorcycle?

No, you can find motorcycle loans at many of the places you find auto loans: banks, credit unions, online lenders and manufacturers. It is true that some auto loan providers don’t always finance motorcycles, but even so, there are lots of options for borrowers of all credit profiles.

Where is the best place to get a motorcycle loan?

The best place to get a motorcycle loan is where you can get your lowest rate at the terms you prefer. A local credit union is a good place to start — rates are generally lower and membership requirements might be easier to meet than you think.

What is a good rate for a motorcycle loan?

We’ve seen credit union motorcycle loan rates as low as 1.69% APR, though in general, motorcycle loan rates are higher than auto loan rates. That’s because the likelihood of default may be greater for a motorcycle than a car.

What credit score is needed for a motorcycle loan?

In general, those with credit scores of 660 or higher will receive the best motorcycle loan rates and most favorable terms. Some lenders accept credit scores under 600, but rates may be high. If possible, postpone your purchase until you’ve had time to improve your credit before applying for a motorcycle loan.

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