| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | Credit score required |
|---|---|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Motorcycle loans with rate matching | 7.49% to 25.49% | 24 to 144 months | $5,000 to $100,000 | Not specified |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Small motorcycle loans | 7.99% to 17.99% | 12 to 60 months | $600 to $50,000 | 760 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Motorcycle loans for excellent credit | 8.99% to 35.99% | 24 to 60 months months | $2,000 to $50,000 | 560 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Quick motorcycle loans | 8.99% to 29.99% (with discounts)* | 24 to 84 months | $5,000 to $100,000 | 680 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Motorcycle loans for fair credit | 11.69% to 35.99% (with discounts) | 36 or 60 months | $1,000 to $50,000 | 560 |
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Motorcycle loans for bad credit | 7.80% to 35.99% | 36 and 60 months | $1,000 to $50,000 | 300 |
| APR range | 7.49% to 25.49% (with autopay) |
| Loan terms | 24 to 144 months |
| Loan amounts | $5,000 to $100,000 |
| Origination fee | None |
| Minimum credit score | Not specified |
| Pros | Cons |
|---|---|
May beat competitors' APRs through Rate Beat program No late fees Same-day funding possible | Requires good to excellent credit High minimum loan amount Can't prequalify |
LightStream doesn’t disclose its exact credit score requirements, and it doesn’t offer prequalification. That means you’ll need to agree to a hard credit pull to check your eligibility.
Read our full LightStream personal loan review.
| APR range | 7.99% to 17.99% |
| Loan terms | 12 to 60 months |
| Loan amounts | $600 to $50,000 |
| Origination fee | None |
| Minimum credit score | 760 |
| Pros | Cons |
|---|---|
Small loans could be ideal for used motorcycle purchases Financial assistance available in case of hardship Credit union membership benefits | Must join credit union Must have good credit Shorter maximum loan term |
PenFed Credit Union might not approve you if you don’t have solid credit, but the lender allows joint loans. You could boost your personal loan approval odds by adding a creditworthy co-borrower.
Read our full PenFed personal loan review.
PenFed doesn’t provide much information regarding its borrower requirements, but it will review your credit report. It may also ask for pay stubs, bank statements and your government-issued ID.
| APR range | 8.99% to 35.99% |
| Loan terms | 24 to 60 months |
| Loan amounts | $2,000 to $50,000 |
| Origination fee | 1.00% - 7.99% |
| Minimum credit score | 560 |
| Pros | Cons |
|---|---|
| Low minimum APR for excellent-credit applicants Accepts poor credit Offers joint loans | Approval can take up to five days Customer service unavailable on weekends Charges 5% of the unpaid amount, or $15, whichever is greater. |
If you’re in a rush to buy your new ride, Prosper might not be a good fit. It can take nearly a week to get an approval decision.
Read our full Prosper personal loan review.
To get a Prosper loan, you must:
Co-borrowers must also have:
| APR range | 8.99% to 29.99% (with discounts)* |
| Loan terms | 24 to 84 months |
| Loan amounts | $5,000 to $100,000 |
| Origination fee | 0.00% - 7.00% (optional) |
| Minimum credit score | 680 |
| Pros | Cons |
|---|---|
Same-day motorcycle loans APR discounts for direct deposit and autopay Optional origination fee | Good credit required High minimum loan amount Origination fee required for lowest APRs |
Because its loans start at $5,000, SoFi might not make sense if you’re buying a cheap, used motorcycle. You may need to pay an optional origination fee to get the best APRs.
Read our full SoFi personal loan review.
| APR range | 11.69% to 35.99% (with discounts) |
| Loan terms | 36 or 60 months |
| Loan amounts | $1,000 to $50,000 |
| Origination fee | 5.25% - 9.99% |
| Minimum credit score | 560 |
| Pros | Cons |
|---|---|
| Poor to fair credit okay Free credit monitoring comes standard Offers autopay discount | Debt consolidation required for lowest APRs Mandatory origination fee Limited available loan terms |
If you qualify for a fair-credit loan, you should be prepared to pay. Universal Credit’s APRs can reach 35.99%. It also charges a mandatory origination fee.
Read our full Universal Credit personal loan review.
| APR range | 7.80% to 35.99% |
| Loan terms | 36 and 60 months |
| Loan amounts | $1,000 to $50,000 |
| Origination fee | 0.00% - 12.00% |
| Minimum credit score | 300 |
| Pros | Cons |
|---|---|
Only requires a 300 credit score Competitive minimum APR Customer service available on weekends | Only two terms to choose from Potential for expensive origination fee High maximum APR |
Even though Upstart offers bad-credit loans, they don’t come cheap. You could pay an APR as high as 35.99%. That’s not including an origination fee of up to 12.00%.
Read our full Upstart personal loan review.
Additionally, Upstart has a minimum annual income requirement of $12,000. It also doesn’t offer loans in Iowa or West Virginia.
Motorcycle financing works like other types of financing. Instead of paying for your motorcycle up front, you take out a loan from a bank, a credit union or an online lender. Then, you pay back what you borrowed (plus interest) in monthly installments. You’ll generally have between 12 and 84 months to pay off your purchase.
For most, a motorcycle is a good-to-have, not an essential, purchase.
Before you get your heart set on a new bike, be sure that you aren’t forgoing other priorities. For instance, you may want to double-check your emergency fund. Instant gratification can be hard to deny, but you’ll be grateful for the foresight if the unexpected occurs.
The steps you’ll take to get a motorcycle loan depend on the type of loan you’re applying for. If you’d like to finance with a personal loan, the steps below will give you an idea of what to expect.
First, crunch the numbers to make sure you can afford a motorcycle. Don’t just consider the bike but also protective gear, insurance or motorcycle classes. You could roll these expenses into your loan to reduce your upfront costs.
At this point, you don’t need to know exactly what bike you’re going to buy, but you do need to have an idea of how much it will cost. This will dictate how much money you should apply for.
Then, use our motorcycle loan calculator to get a feel for your monthly loan payment.
Once you’ve determined you can fit a bike into your budget, check your credit score. This will help you know which lenders you could qualify for and whether their APRs are competitive.
Prequalifying on a personal loan is a low-stakes way of checking your eligibility without taking a credit ding. Here, the lender will ask for some basic information like your name, employment status and annual income.
Get offers from a handful of lenders and compare, paying attention to APRs and loan amounts
When you’ve found the best loan for your situation, it’s time to apply. Filling out a loan application is a lot like prequalifying but requires more details. The lender may also ask for documents like pay stubs or bank statements.
Every lender has its own approval timeline, but many provide same-day decisions. After, you could expect your loan in a few hours or a few days — this also depends on the lender.
It can be, but it depends on the type of loan you’re targeting. It can be hard to get an affordable unsecured motorcycle loan (or personal loan) if your credit score is below 640. Some lenders specialize in bad credit, but you’ll pay higher APRs.
Generally, secured motorcycle loans are easier to get since they use your bike as collateral (and sometimes require a down payment). Still, collateral doesn’t guarantee approval.
When you apply, the lender will run a hard credit pull to review your borrower history. This may cause a slight, temporary drop to your credit score.
However, making on-time loan payments will probably give you a boost. Conversely, missing payments is a surefire way to tank your score.
The best loan for a motorcycle is one that most aligns with your needs. If you don’t want to make a down payment, then a personal loan could be a good fit. For the lowest rates, you might want to check out a manufacturer loan.