Our top 4 picks for the best motorcycle loans
For our list of the best motorcycle loans, we considered lenders’ annual percentage rates (APRs), loan amounts, repayment timelines, fees and minimum credit scores to help us make our selections.
Our picks may be Authorized Partners who compensate us. This doesn’t affect our recommendations or evaluations, but it may affect the order in which the companies appear.
Here are our picks for the best motorcycle loans:
- Loan amounts
- $1,000 to $75,000
- Starting APR
- 6.20% to 35.99%
- Term lengths
- 3 or 5 years
- Minimum credit score
- 300
Partner Disclosures
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Achieve Personal Loans disclosures
Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, or Pathward®, N.A., Equal Housing Lenders. Loan applications are subject to credit review, underwriting criteria and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans loan consultants' hours are Monday-Friday 6am-8pm AZ time, and Saturday-Sunday 7am-4pm AZ time.
Upstart disclosures
The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 21.58% and a 9.84% origination fee of $984, for an APR of 26.82%. In this example, the borrower will receive $9016 and will make 60 monthly payments of $275. APR is calculated based on 5-year rates offered in December 2023. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. While most loans through Upstart are unsecured, certain lenders may place a lien on other accounts you hold with the same institution. There may be an option to secure your personal loan through Upstart with your vehicle, which will require a lien to be placed on the vehicle. It is important to review your promissory note for these details before accepting your loan.
- Loan amounts
- $5,000 to $100,000
- Starting APR
- 6.49% to 25.39%
- Term lengths
- 2 to 20 years
- Minimum credit score
- 670 to 700
Partner Disclosures
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Achieve Personal Loans disclosures
Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, or Pathward®, N.A., Equal Housing Lenders. Loan applications are subject to credit review, underwriting criteria and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans loan consultants' hours are Monday-Friday 6am-8pm AZ time, and Saturday-Sunday 7am-4pm AZ time.
Upstart disclosures
The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 21.58% and a 9.84% origination fee of $984, for an APR of 26.82%. In this example, the borrower will receive $9016 and will make 60 monthly payments of $275. APR is calculated based on 5-year rates offered in December 2023. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. While most loans through Upstart are unsecured, certain lenders may place a lien on other accounts you hold with the same institution. There may be an option to secure your personal loan through Upstart with your vehicle, which will require a lien to be placed on the vehicle. It is important to review your promissory note for these details before accepting your loan.
- Loan amounts
- $5,000 to $50,000
- Starting APR
- 6.25% to 35.99%
- Term lengths
- 2 to 5 years
- Minimum credit score
- 600
Partner Disclosures
LightStream disclosures
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 8.99% APR with a term of 5 years would result in 60 monthly payments of $207.54. Truist Bank is an Equal Housing Lender. © 2023 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
Achieve Personal Loans disclosures
Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, or Pathward®, N.A., Equal Housing Lenders. Loan applications are subject to credit review, underwriting criteria and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans loan consultants' hours are Monday-Friday 6am-8pm AZ time, and Saturday-Sunday 7am-4pm AZ time.
Upstart disclosures
The full range of available rates varies by state. A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 21.58% and a 9.84% origination fee of $984, for an APR of 26.82%. In this example, the borrower will receive $9016 and will make 60 monthly payments of $275. APR is calculated based on 5-year rates offered in December 2023. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. While most loans through Upstart are unsecured, certain lenders may place a lien on other accounts you hold with the same institution. There may be an option to secure your personal loan through Upstart with your vehicle, which will require a lien to be placed on the vehicle. It is important to review your promissory note for these details before accepting your loan.
- Loan amounts
- $2,000 to $35,000
- Starting APR
- 9.95% to 35.99%
- Term lengths
- 2 to 5 years
- Minimum credit score
- Typically 600 to 700
What is a motorcycle loan?
A motorcycle loan is a financing option available to people purchasing a new or used motorcycle. You can get a motorcycle loan from banks, credit unions and online lenders. Loan terms typically range between one to seven years. The longer the term, the lower the monthly payments, but the more you'll end up paying in total interest over the life of the loan.
Motorcycle loans can be secured or unsecured.
Secured motorcycle loans
With a secured loan, the motorcycle acts as collateral for the loan. If the borrower defaults on the loan payments, the lender can repossess the motorcycle. Because these loans are secured, they may have lower interest rates than unsecured motorcycle loans.
Unsecured motorcycle loans
Unsecured loans don’t require collateral. Instead, the lender assesses the borrower’s creditworthiness to approve the loan. This means the lender will check factors like the borrower’s credit score, income and debt-to-income (DTI) ratio.
Pros and cons of a motorcycle loan
Here are some pros and cons to consider before applying for a motorcycle loan:
Pros
- Wide range of loan amounts available
- Typically fast funding
- Full ownership with an unsecured loan
Cons
- Potentially high APRs
- Potential fees
- Risk of repossession for secured loans
How to choose a motorcycle loan
When shopping for a motorcycle loan, compare the following:
- APRs: You’ll likely qualify for a lower APR if you have a better credit score. However, you may also get a lower rate if you use the motorcycle as collateral.
- Loan amounts: Lenders offer different minimum and maximum loan amounts, so make sure you choose a lender that offers the amount you’re interested in.
- Term lengths: Motorcycle loan term lengths typically range from one to seven years.
- Fees: Motorcycle loans might have fees, such as origination fees, prepayment fees or administration fees.
How to get a motorcycle loan
You can get a loan for a motorcycle with an unsecured or secured personal loan, though either of these options may be referred to as a motorcycle loan.
1. Know what you want to buy
Before you apply for a loan, you should know which motorcycle model you want to purchase so you know how much you need to borrow. Ask the seller to provide a full quote, including taxes and fees.
2. Compare lenders’ offers
Look at personal loan lenders that let you use funds for a motorcycle purchase. Compare their offers, rates and terms. Some let you check rates and terms without a hard credit inquiry, which makes it easier to compare your options.
3. Apply for a loan
When you find the right loan for you, submit an application. You can typically do this online, and it usually involves submitting personal and financial information. The lender will then run a hard credit check to complete the application process.
If you’re approved, read over the terms of your loan agreement carefully before signing. You can typically expect funding within one to three days, though it may take up to a week.
» COMPARE: Best personal loan companies
Is a motorcycle loan right for you?
If you have a good to excellent credit score and stable income, a motorcycle loan might be a good fit for you. However, motorcycle loans might not be the right choice for everyone.
Despite their benefits, motorcycle loans aren’t right for everyone.”
“Despite their benefits, motorcycle loans aren’t right for everyone,” said Trevor Williams, chief lending officer at Ascend Federal Credit Union. “[B]orrowers should carefully assess factors such as interest rates, repayment terms, their ability to pay back the loan and potential impact on credit scores before proceeding.”
If you aren’t able to get approved for a loan, you may need to work on improving your credit score first. It can also be helpful to build up your savings so you can put a down payment on a loan.
FAQ
How difficult is it to get a motorcycle loan?
Motorcycle loans can be relatively easy to get, with some offering same-day or next-day funding. However, the ease and speed of approval usually depend on factors like your credit score and income. Lenders might also be more willing to lend to you if the loan is secured.
What is the typical motorcycle loan rate?
Typical motorcycle loan rates vary depending on the lender, economic conditions and your credit history. Still, motorcycle loan rates typically range from around 6% to 36% APR.
Can I get a motorcycle loan with bad credit?
Getting a motorcycle loan with bad credit may be possible, but you may be forced to pay higher interest and fees. Adding a co-signer or making a down payment on the loan may improve your approval chances.
What’s the difference between a motorcycle loan and motorcycle financing?
Depending on where you are purchasing your motorcycle, you might be offered financing from the dealer. This may be convenient, but it could cost more than getting a loan elsewhere. It’s a good idea to explore motorcycle loan options from different sources, such as banks, credit unions and online lenders, to find the best possible offer.
Can you refinance a motorcycle loan?
Yes, you can refinance a motorcycle loan. To do so, you’ll typically shop around to find a new loan to replace your existing loan.
“Refinancing a motorcycle loan can be beneficial when interest rates drop significantly, to improve creditworthiness, or extend the loan term for lower monthly payments,” said Trevor Williams.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Consumer Financial Protection Bureau, “Do Personal Installment Loans Have Fees?” Accessed Feb. 13, 2026.
