Motorcycle Finance

Another Necessary Evil? Motorcycle Finance - perhaps not the most fun bike-related topic, but with the current state of our economy, it may be difficult to envision purchasing a motorcycle without exploring some financing options. After all, some of the sport touring motorcycles have a MRP greater than the last 4-wheeled vehicle I purchased. Yikes!

Shiny, new Black Ducati

For those who have good, verging on perfect credit, who are intent on purchasing a new motorcycle, the first option to consider may well be credit programs sponsored by the various motorcycle manufacturers. Examples are:

Honda Financial Services

Suzuki Financing

Yamaha Motorcycle Finance Tools

BMW Motorcycle Financing Programs

Kawasaki Credit

Harley Davidson Finance

You may also be able to investigate financing a new motorcycle through the dealership, but be wary of higher interest rates - also remember that a motorcycle is often a purchase that bears heavily on the pleasure receptors in your brain - reducing your ability to think rationally and sensibly...

Motorcycle Loans: Other options

Two BMW motorcycles, parked for the evening

Bearing in mind the fact that buying a motorcycle is often an emotional process (i.e. - "I can't possibly live another day without this bike"AND "If I don't snap this motorcycle up now, someone else is going to get it.....")- you really need to keep your bearings if you need to obtain financing.

One option that I do NOT recommend: Unsecured loans for the purchase of a motorcycle. WHY? You are asking for money, intended for the purchase of a motorcycle, unsecured by anything that you currently own. Chances are you're looking at some pretty steep interest rates. Do you really want to pay for the motorcycle twice?

A better option might be a home equity loan, or a personal loan. Or, perhaps you could save some money over the winter, put down a down payment, and finance through the dealership.

Don't make the motorcycle the first thing to be sacrificed should there be a change in your circumstances. A heavily-leveraged bike might just be the first thing to go - just when you really need the "road therapy".

You can find finance companies on the internet, but beware again of the emotions versus the practicalities...You want to love your motorcycle - not hate it because of the amount of money you are paying for it. Shop for the best interest rate, get your payment at the right amount for your budget, monthly, and enjoy your new motorcycle!

Loan and Credit Guide Know what it takes to get your loan funded and how to build your credit.