Writer: Brittney Mayer
Editor: Lillian Guevara-Castro
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 US 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 are options for bad credit motorcycle loans if you’re willing to pay the high rates that come with poor 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 automobiles — 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 that actually handles motorcycle loans.
Next, you’ll need to narrow down that list to just those lenders 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.
- Loans for new, used, and refinancing
- Queries a national network of lenders
- Bad credit OK
- Get up to 4 offers in minutes
- Receive online loan certificate or check within 24 hours
- See application, terms, and details.
| Interest Rate | In Business Since | Application Length | Reputation Score |
|---|---|---|---|
| Varies | 2003 | 2 minutes | 8.5/10 |
myAutoloan.com is an online lending network that primarily deals 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
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.
You’ll be asked for your credit score when you begin the loan application. When you choose the bad credit option, you’ll be redirected to ReliablePersonalLoans.com, a personal loan lender network that will match you with an online lender. We review the best personal loan options that can be used for motorcycle financing below.
3. LendingTree.com
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, sportbikes, 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 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 which 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
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 sportbikes 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 report and score.
5. RideNow Powersports
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 apply with a family member or friend who has stronger credit, which may improve your chances of qualifying if your credit is less than ideal.
6. Bright Power Sports
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 may 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.
7. CashUSA.com
- Loans from $500 to $10,000
- Receive a loan decision in minutes
- Get funds directly to your bank account
- Use the loan for any purpose
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
- Loans from $500 to $10,000
- Get connected with a lender
- Simple form & quick funding
- Get your money as soon as the next business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $500 to $10,000 | 5.99% - 35.99% | 3 to 60 Months | See representative example |
- Loans from $250 to $35,000
- Large lender network
- Fast loan decision
- Use the loan for any purpose
- Funding as soon as one business day, if approved
- See official site, terms, and details.
| Loan Amount | Interest Rate | Loan Term | Loan Example |
|---|---|---|---|
| $250 to $35,000 | 5.99% - 35.99% | 3 to 72 Months | See representative example |
As with any other financial product, you should compare personal loans to find the best offer. This can be especially important when comparing bad credit loan offers, 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 loan 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.
Another option for low-rate bad credit motorcycle financing is your local credit union. Credit unions are member-owned, which means their profits are returned to their customers (members) in the form of low interest rates on financial products, including low motorcycle loan rates.
You Can Also Consider a Home Equity Loan
A home equity loan taps into the equity you have in your home. Your equity is the current value of your home minus any remaining mortgage balance.
For example, if your home is worth $300,000 and you still owe $180,000, you have $120,000 in available equity. Most mortgage lenders, however, will lend only up to 80% of that amount. Because the loan is secured by your home, it differs from a mortgage in one key way: you can use the funds for nearly any purpose, including buying a new or used motorcycle.
10. eMortgage
- Get today's mortgage rates from the top mortgage lenders and banks
- Easily compare and choose mortgage lenders with no obligations or fees
- Review current mortgage rates side by side
- Pick mortgage lenders that meet your specific needs
- Compare rates from pre-qualified and approved mortgage lenders — 100% online, 100% free
- See application, terms, and details.
| Interest Rate | In Business Since | Application Length | Reputation Score |
|---|---|---|---|
| Varies | 1979 | 4 minutes | 8.5/10 |
eMortgage can help you compare quotes from lenders across the country to help you secure the best loan rates. A home equity loan may be one of the best motorcycle loans you can get with a bad credit history.
What Credit Score Is Needed to Buy a Motorcycle?
There’s no universal minimum credit score for motorcycle financing. Every lender uses its own approval standards. Still, as your credit score drops, it can become more difficult to qualify for a loan large enough to cover the cost of a motorcycle.
Your interest rate and monthly payment will also be determined by your credit score. So if your score is really poor, you may want to consider improving it before applying for a bad credit motorcycle loan. Here are some tips for quickly improving your credit score.
Ride Off Into the Sunset With the Right Lender
Like its earliest ancestors, the modern motorcycle is still an impressive piece of engineering, using the physics of motion to stay upright while giving you an enjoyable ride and solid 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, a bad credit history 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.
