9 Best Bad-Credit Motorcycle Loans for 2021

Bad Credit Motorcycle Loans
Brittney Mayer
By: Brittney Mayer
Updated: November 18, 2019
Advertiser Disclosure

Bad credit motorcycle loans may be more difficult to find than loans for those with a stellar credit past, but it’s not impossible. Read on for our selections for some of the best potential options for financing your next set of (2) wheels.

The modern motorcycle has come a long way from the two-cylinder steam-powered bicycle that was its earliest ancestor. Today, there are more than 8 million motorcycles registered in the U.S. alone.

While many people keep motorcycles as secondary vehicles ridden mostly for fun, there is a contingent of riders who use them as less-expensive alternatives to traditional cars and trucks, thanks both to lower purchase prices and better fuel economy.

Unfortunately, those with poor credit who are most likely to seek out a lower-cost alternative are those who will have the hardest time finding motorcycle financing. But, there may be options if you’re willing to pay the high rates that come with bad credit.

Third-Party Lenders | Dealers & Manufacturers | Personal Loans

Get a Motorcycle Loan from a Third-Party Lender

Although motorcycles certainly fall under the umbrella of automobile — they carry their own engine, and people, too — many auto lenders don’t actually offer motorcycle loans. So, the first step to getting a third-party loan is to find a lender who actually handles motorcycle loans.

Next, you’ll need to narrow down that list to just those lenders who are willing to deal with poor-credit borrowers (which may make the list quite short). No matter how short the list is, of course, you’ll want to compare your options to find the best rates.

MyAutoloan.com is an online lending network that deals solely with auto loans, but a number of its lending partners also offer motorcycle loans. Since it’s a lending network, you can receive multiple loan offers from a single application, making it easy to compare rates without having to apply with multiple lenders on your own.

2. MotorcycleLender.com

MotorcycleLender.com Logo

Another online lending network, MotorcycleLender.com specializes in motorcycle loans of all types. Qualified borrowers may be eligible for an unsecured fixed-rate loan of up to $40,000, with both three- and five-year loan terms available. There are no application fees or pre-payment fees, and loans can be dispersed in as few as 48 hours.

3. LendingTree.com

LendingTree.com Logo

A well-known online lending network, LendingTree.com offers a wide variety of loan products, including motorcycle loans. Borrowers can find loans for most two-wheeled vehicles, including cruisers, sport bikes, scooters, and mopeds. Additionally, qualified borrowers can even refinance their current motorcycle loan through LendingTree.com.

One important thing to note about online lending networks is that the network is not a bank or lender itself. Instead, once you choose an offer, you’ll be redirected to the individual lender’s website to see your loan agreement and to complete the loan process.

Finance the Purchase Through Your Motorcycle Dealer

If the idea of a third-party lender doesn’t appeal to you, you may have the option of financing your new motorcycle directly through the dealer or manufacturer from whom you purchase it.

When trying to get a dealer loan with poor credit, you’ll typically have the best luck if you can make a decent down payment. This not only will reduce the amount you have to borrow, but it can also help show the lender that you have the means to repay your loan.

4. Harley Davidson

Harley Davidson Logo

One of the most recognizable motorcycle manufacturers in the US, Harley Davidson is the standard for comfortable cruisers, but the company also offers a range of sport bikes to satisfy nearly any rider. When considering applicants for a loan, Harley Davidson takes many factors into account, including — but not limited to — your credit history.

5. RideNow Powersports

RideNow Powersports Logo

With locations in nearly a dozen states, RideNow Powersports is a popular dealer for motorcycles of all kinds, as well as ATVs and other recreational vehicles. RideNow offers financing on all of its products, and you can easily apply online. You can also submit a joint application with a family member or friend who has better credit, which can help those with poor credit qualify.

6. Bright Power Sports

Bright Power Sports Logo

While the retail location for Bright Power Sports is located in Lincoln Park, MI, potential buyers can shop the company’s full stable of bikes easily online through the Bright Power Sports website. Borrowers can also apply for financing online, and financing is available for a wide range of credit types, including those with poor credit.

If you intend to use an out-of-state dealer to finance and purchase your motorcycle, be sure to account for any potential extra fees when crunching the numbers. For example, while many dealers will happily deliver, that service is rarely free, so know what you’ll be charged before you sign.

Use a Personal Loan for Inexpensive Bike Purchases

If you’re having trouble finding specific motorcycle financing from dealers or third-party lenders, then a personal loan could be an option, as they can be used to finance just about anything.

That said, personal loans will generally have much higher APRs than auto or motorcycle loans, so this should only be used as a last resort. Additionally, those with poor credit may not qualify for a large amount, making personal loans best for inexpensive or used motorcycles.

As with any other financial product, you should comparison shop personal loans to find the best offer. This can be especially important when you have bad credit, both because of the higher APRs and smaller loan amounts that come with a low credit score.

Online lending networks, like those above, can be the easiest way to get multiple quotes at once from a single application. With dozens of potential lenders seeing your application, you’ll likely have a better chance of scoring the loan amount you need to purchase the bike of your dreams.

Ride Off Into the Sunset with the Right Lender

Much like its ancestors, the modern motorcycle is a marvel of technology, capitalizing on the physics of motion to keep itself — and its rider — upright, while also offering a fun ride and a great fuel economy.

But while motorcycles can often be found for less than the cost of a car of equivalent age, they’re still not inexpensive purchases, with luxury cruisers easily sporting five-digit price tags. Even used bikes are rarely cheap, with even some 10-year-old bikes costing $1,000 or more.

For the typical motorcycle enthusiast, financing makes buying a new bike possible. Of course, bad credit can easily put a wrench in your wheels. But, with a little research — and a good down payment — there are options for bad-credit bikers to find the financing they need to ride off into the proverbial sunset.

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