The Best Ways to Finance a Motorcycle

The Best Ways to Finance a Motorcycle

A motorcycle is a pricey purchase, but there are ways to make financing one much easier. If you’ve been saving for a while and have a high credit score, then your best option is to save enough money for a down payment on the bike you want and finance the rest of it through your bank. If that isn’t an option at this time, there are still other things you can do.


Using cash is the simplest and most straightforward way to finance a new motorcycle. However, this isn’t an option for everyone. If you don’t currently have enough cash on hand, you’ll have to consider other finance options.

Online car loan

Your first loan option is an online car loan. The process of getting one can be quick and simple. You might have to spend some time looking for the right lender, but finding the best rate isn’t difficult either. Online lenders are known for having lower rates than traditional banks, so you should expect to save quite a bit on interest by going this route.

Your main options are either getting a secured loan or an unsecured loan. A secured loan requires you to put up some type of collateral, like a house or car, whereas an unsecured loan doesn’t. An unsecured loan is better for people with bad credit because it isn’t tied to anything else. However, both loans are easy to get if your credit score is good enough.

Credit Cards

If you don’t have an online car loan option, then your next best choice might be a credit card. Credit cards typically offer the lowest interest rates and won’t require a down payment as bank loans do. You can even use qualified promotional offers to reduce your interest rates or get cash back rewards with some cards.


There are motorcycle leasing companies that will let you pick out the bike you want and lease it for a certain time period. You’ll usually have to put down a certain amount of money as a deposit, but not always.

Bank Loan

When you finance through the bank, you typically don’t pay anything up front and make monthly payments until the bike is paid off. This method is great for people with bad credit or no credit because it allows them to get loans. However, bank loans usually have higher interest rates than leasing or cash payments.

Dealer finance

Your local motorcycle dealership might be able to get you a loan with a lower interest rate than the bank. Some dealers even specialize in finance and will work with lenders that aren’t banks, so if your credit isn’t good, this could be your best option. Be wary with dealer finance, though, since some have very high-interest rates.

Having the money to get what you want upfront might seem ideal, but you can get a motorcycle even without cash. If finances are tight, then you just need to be smart about how you finance it. It’s important to understand all your options and know exactly how much each will cost before making a final decision.

If you’re after a specific bike, for example, a Ducati, it might be worth looking at your local dealership for specific Ducati finance options.