Best Motorcycle Loans

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LightStream is our pick as the best overall motorcycle loan lender because it offers unsecured loans with low interest rates and allows you to borrow between $5,000 and $100,000. Depending on how much you borrow, you can have up to seven years to repay your loan, among the longest terms offered by any lender.

LightStream is a division of Truist. With LightStream, you can apply for loans entirely online and get your money deposited into your bank account the same day you’re approved. 

LightStream’s motorcycle loans are unsecured, so you don’t have to worry about collateral or adding the lender as a lienholder. LightStream doesn’t require any down payment, so you can apply for the full amount of the motorcycle’s cost. 

The lender’s interest rates are the lowest of all the unsecured lenders we evaluated, with rates ranging from 7.99% to 17.14% (including a 0.50% autopay discount). 

The minimum loan amount available from LightStream is $5,000. If you’re buying a used motorcycle, that might be more than you need, causing you to take out unnecessary debt. LightStream tends to be best for those who want to buy a more expensive motorcycle. 

To qualify for a loan, you will need to have good to excellent credit. According to Equifax, that means your score should be between 670 and 850. If your credit score is below that range, you’ll need to work with another lender. 

LightStream does not have a loan prequalification tool, so you’ll have to submit a loan application and undergo a hard credit inquiry to find out what interest rates you can get and if you’re approved for a loan. 

Despite its strict borrower requirements, LightStream has the edge over other lenders because of its low interest rates, multiple repayment options, and quick loan funding. When you take out a loan from LightStream, you can get your money that same day and close the deal with the bike’s seller.

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Harley-Davidson leads the pack when it comes to manufacturer financing. Offering loans on new and used models, you can qualify for low-interest loans with repayment terms as long as seven years. And, Harley-Davidson will also offer you financing if you’re buying a Harley from a private party.

Harley-Davidson is one of the best-known motorcycle manufacturers in the world. With its long-standing reputation, Harley-Davidson motorcycles tend to be more expensive than some of its competitors, but it also has its own financing options to help make the price more manageable, and we chose Harley-Davidson as best for manufacturer financing in our review.

With Harley-Davidson Financial Services, you can finance a new or used bike if you have fair to excellent credit. Harley-Davidson has several financing offers available, including $0 down payment options with low interest rates and repayment terms as long as seven years. They also offer rate specials depending on what product you're purchasing and if you meet certain conditions such as taking a rider eduction course. You can estimate your payment on their website, but financing details must be discussed at your dealer.

When you purchase your bike, you can also add gear and services, such as an extended Harley-Davidson service plan, to the amount you finance. 

If you want to buy a Harley from a private party, Harley-Davidson will help facilitate the transaction. You can secure financing from Harley-Davidson Financial Services, and then meet the seller at a local Harley dealership. The dealer will help you complete the sale and transfer ownership of the bike. 

When buying a bike with Harley-Davidson financing, keep in mind that the loan is secured. If you fall behind on your payments, the lender can take back the motorcycle as security. You can only use the loan to buy Harley-Davidson motorcycles, and the lowest advertised rates and terms are only available on select models. 

Harley-Davidson edges out its competitors as the best manufacturer financing option because it allows you to get a loan for both new and used motorcycles. And, you can wrap in extra costs, like accessories or service plans, into your loan, so you have just one easy monthly payment.

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For secured motorcycle loans, Digital Federal Credit Union (DCU) is our pick for the best motorcycle loan rates. It offers low interest rates and allows you to borrow up to 125% of the motorcycle’s purchase price, allowing you to take out extra money to cover the cost of registration or service protection plans.

DCU is a credit union, a non-profit financial cooperative owned by its members, and has over 900,000 members nationwide. 

DCU offers secured motorcycle loans you can use to purchase new or used bikes. While other companies charge higher rates for used motorcycles, DCU’s interest rates are the same for new and used models. 

For street motorcycles, rates start at 6.75%; its lowest advertised rates include 0.50% discount for automatic payments and making payments from a DCU checking account. Off-road motorcycles have higher interest rates, with rates ranging from 9.60% to 10.10%. Both types of bikes are eligible for loan terms of three to five years. 

With DCU, you can borrow up to 125% of the motorcycle’s purchase price. For example, if you’re buying a bike listed at $10,000, you can borrow up to $12,500 through DCU. You can use the extra money to cover registration costs, to purchase an extended warranty, or get a service protection plan for your new bike. 

To qualify for a loan, you’ll need to have good to excellent credit and you also have to be a DCU member. You are eligible for membership if you meet one of the following criteria: 

• You have a family member, such as a spouse, parent, grandparent, or sibling, who is a DCU member
• You work for an eligible employer or retired from an eligible employer
• You belong to a partner non-profit organization 
• You live, work, attend church, or go to school in one of DCU's service communities

While not everyone will be eligible for DCU membership or DCU’s motorcycle loans, DCU is our selection for the best motorcycle loan rates because of its affordably low terms and the ability to borrow up to 125% of the bike’s purchase price.

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For those who want an unsecured loan option, Wells Fargo is our pick for the best personal loan lender due to its available loan amounts, competitive rates, and rapid funding.

Wells Fargo allows you to borrow up to $100,000 without any form of collateral. Wells Fargo loans have no origination fees, and there is no prepayment penalty. 

If you are a Wells Fargo customer and have a checking or savings account with the bank, you can qualify for its lowest rates. Rates range from 7.49% to 23.74% with the relationship discount, and Wells Fargo has loan terms ranging from one to seven years. 

You need to have good to excellent credit and proof of income to qualify for a loan. With Wells Fargo, you can apply for a loan online or over the phone if you have an existing Wells Fargo bank account. If you aren’t currently a Wells Fargo customer, you can still apply for a loan, but you’ll have to apply in person at a Wells Fargo branch. If approved, your loan will be disbursed in as little as one business day. 

With its interest rates and quick loan disbursal, Wells Fargo beats out the competition for best personal loan. You can quickly get the money you need to buy your motorcycle without having to use your new bike to secure the loan.

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If you have poor credit, getting a loan can be difficult. That’s why Avant—which lends to customers with scores as low as 600—is our choice for the best loan for borrowers with bad credit.

If you have subprime credit, meaning a credit score between 580 and 669, finding a lender can be challenging.

Avant is a lender that specializes in unsecured loans for people with fair or even poor credit. Most borrowers who are approved for a loan through Avant have credit scores between 600 and 700, so you are more likely to qualify for a loan from Avant than from other lenders. 

Avant does have a prequalification tool, so you can check your loan eligibility without damaging your credit score. If you decide to proceed with the loan application, you can apply online and qualify for a loan between $2,000 and $35,000. If approved, your loan could be disbursed in as little as one day. 

Because Avant caters to people with less-than-perfect credit, it has higher interest rates than some other personal loan lenders, with rates ranging from 9.95% to 35.99%. It has fewer loan term options than other lenders, with a maximum loan length of just five years. 

A notable drawback is that Avant charges administration fees. The fee is 4.75% and is deducted from your loan amount before it is disbursed. For example, if you applied for a $5,000 loan and had a 4.75% administrative fee, $237.50 would be deducted from the loan total. The amount that Avant would issue to your bank account would be just $4,762.50, so make sure you account for that fee when selecting your desired loan amount. 

While Avant does charge added fees and has potentially high interest rates, it’s the best choice for people with poor credit because of its lower credit score requirements and rapid loan funding.