Best Motorcycle Loans in 2025

Looking to finance your dream ride? Motorcycle loans can help you hit the open road sooner rather than later.

Whether you're a first-time buyer or upgrading to a new model, we'll cover everything you need to know to secure the right motorcycle loan and start your next adventure.

Upstart: Best motorcycle loans for bad credit

What to Know:

• Upstart is an online platform that utilizes artificial intelligence for loan approvals, considering factors beyond just the credit score.

• The platform looks at aspects like employment history, income, and education level.

• While it caters to borrowers with low credit scores, loans for such profiles might have higher APRs.

• Upstart charges origination fees and has high maximum APRs.

• The platform offers quick funding, usually within one business day after approval.

Pros:

• Considers more than credit score

• Loans up to $50,000

• Fast funding

• Rate check without affecting credit

• Low minimum credit score requirement

Cons:

• High maximum APR

• Origination fees

• No physical locations

• Limited availability (not in Iowa or West Virginia)

• Limited repayment terms

How to Qualify:

• Minimum annual income of $12,000

• College degree or actively attending if you have no credit history

• Provide necessary documentation like proof of income, employment history, bank statements, and identification documents.

Upgrade: Best motorcycle loans with co-signer

What to Know:

• Upgrade is well-suited for motorcycle buyers, especially those with fair credit scores.

• They offer personal loans that can be used for major purchases, including motorcycles.

• The application process with Upgrade is straightforward, allowing you to understand the types of loans and rates you qualify for without impacting your credit score.

• Credit scores starting from approximately 580 are accepted, making it a good option for a broader range of borrowers.

• Upgrade stands out by allowing co-applicants and joint applications, while not permitting co-signers.

• However, the company charges origination fees and generally has higher APR rates, reflecting the higher risk associated with lending to borrowers with lower credit scores.

• It's important to check if Upgrade's services are available in your state, as they are not offered nationwide.

Pros:

• Accessible to borrowers with credit scores starting around 580

• User-friendly process for loan rate inquiries

• Co-applicants and joint applications allowed

• Suitable for financing motorcycle purchases

• Quick insights into eligible loans and rates without impacting credit score

Cons:

• Origination fees apply

• Higher APR rates due to increased lender risk

• Loans not available in all states

• Minimum loan amount might be high for some borrowers

How to Qualify:

• Ideal for those with fair credit scores (around 580 or higher).

• The application process involves a few questions to identify suitable loan options.

• Being aware of the financial commitment is crucial due to the higher APRs.

• Applicants should verify the availability of Upgrade's loans in their respective states.

Universal Credit: Best small motorcycle loans for fair credit

What to Know:

• Universal Credit is operated by the online lender Upgrade, and it caters specifically to borrowers with lower credit scores (629 or below).

• The loans include features like credit building tools and a mobile app.

• They offer discounts for autopay setup and for directly paying off creditors on debt consolidation loans.

• The loans are fast to fund, usually within a day or two after approval.

• They do charge origination fees ranging from 5.25% to 9.99%, and late fees also apply.

Pros:

• Tailored to borrowers with low credit scores

• Offers credit-building tools

• Fast funding after approval

• Discounts for autopay and debt consolidation

Cons:

• High APR rates

• Charges origination and late fees

• No options for joint, co-signed, or secured loans

How to Qualify:

• A minimum credit score of 560 is required.

• Applicants must be U.S. citizens or permanent residents, or living in the U.S. on a valid visa, and at least 18 years old in most states.

• A verifiable bank account and a valid email address are necessary.

• There's no specified minimum income requirement, but a debt-to-income ratio up to 75% is acceptable.

Types of Motorcycle Loans

When you're in the market for a motorcycle, understanding the various loan options can help you make an informed decision. Here are the main types of motorcycle loans available:

Secured Motorcycle Loans

This is the most common type of motorcycle loan. In a secured loan, the motorcycle itself acts as collateral. This means if you fail to make payments, the lender can seize the motorcycle to recover the loan amount. The interest rates for secured loans are generally lower because the lender has less risk.

Unsecured Motorcycle Loans

Unlike secured loans, unsecured loans do not require any collateral. This means the lender cannot automatically seize your motorcycle if you default on the loan. However, because these loans are riskier for lenders, they often come with higher interest rates and may require a higher credit score for approval.

Personal Loans for Motorcycle Purchase

Some buyers opt for personal loans to finance their motorcycle purchase. Personal loans are typically unsecured and can be used for a variety of purposes, including buying a motorcycle. The terms and interest rates for personal loans can vary widely based on your credit history and the lender's policies.

Manufacturer Financing

Many motorcycle manufacturers like Honda, and Harley-Davidson offer financing options for their models. These loans can be either secured or unsecured and sometimes come with promotional offers like lower interest rates for a specific period.

Manufacturer financing can be a convenient option, but it's important to compare these offers with other loan types to ensure you're getting the best deal.

Credit Union Motorcycle Loans

Credit unions often offer motorcycle loans with competitive interest rates and terms. These institutions are member-owned and may offer more personalized service. To access these loans, you typically need to be a member of the credit union.

Online Lenders

The rise of online lending platforms has made it easier to obtain motorcycle loans. These lenders often provide quick application processes and competitive rates. However, it's crucial to research and ensure the lender is reputable and offers terms that align with your financial situation.

Comparing Motorcycle Loans

When choosing a motorcycle loan, consider these key factors for a smart decision:

• Interest Rates: Essential for cost-saving. Compare rates from various lenders to find the most favorable one.

• Loan Term: Balance between term length and monthly payments. Shorter terms mean higher payments but less interest overall, and vice versa.

• Fees and Penalties: Check for any extra costs like origination or prepayment fees.

• Down Payment: A higher down payment can reduce your loan amount and interest rate, but requires more upfront cash.

• Credit Score: A higher credit score often leads to better loan terms. Check and improve your score if needed.

• Loan Restrictions: Be aware of any limitations on motorcycle types or purchase locations.

• Insurance Requirements: Secured loans might need full insurance coverage, adding to overall costs.

• Pre-Approval: Consider getting pre-approved for a clearer budget and stronger negotiation position.

Choose a loan that aligns with your financial situation and motorcycle preferences. Click the button below to use our motorcycle loan calculator and estimate your monthly payment.

Steps to Apply for a Motorcycle Loan