Best Motorcycle Loans

Digital Federal Credit Union (DCU) is our top pick for motorcycle loans because it offers some of the lowest APRs we could find on both new and used motorcycles. Plus you can borrow up to the lesser of 125% of the NADA retail book value or purchase price. DCU also offers financing for off-road motorcycles and refinancing options. Loan terms extend up to 60 months.

The one caveat is that you must become a DCU member. If you live in an eligible Massachusetts community or work for a qualifying employer, you automatically qualify for membership. Others can join by becoming a member of a qualifying organization for as little as $10. 

You can apply for a loan before joining the credit union, so you won’t have to join a qualifying organization unless you’re approved. APRs start as low as 6.75% for street motorcycles and 10.35% for off-road motorcycles as of January 2023.

Our runner-up for best motorcycle loan goes to LightStream, an online lender owned by Truist. We chose it because LightStream only charges you interest based on the APR you qualify for. There aren’t any prepayment penalties, administrative fees, or origination fees, but it's important to note that Lightstream only approves those with good-to-excellent credit profiles.

Rates start as low as 7.49% APR as of April 2023 but excellent credit and auto-pay is required to qualify. Otherwise, rate ranges are 0.50% higher than the APRs shown on its website. Loan terms range from 36 months to 84 months* for loans of $5,000 and up. The online application process is fast and funds can be disbursed within 24 hours as long as the next day is a business day.

If you live in Florida, you will have to pay documentary stamp taxes.

Avant made our top pick for the best bad credit motorcycle loans because they lend money to those with credit scores between 600 and 700. 

They offer personal loans from $2,000 to $35,000. You can use the funds for anything you wish, including a motorcycle purchase or refinance. Their APRs range from 9.95% to 35.99%, and loan lengths fall in the 12- to 60-month range. It's important to note that Avant charges up to a 4.75% administrative fee for issuing the loan.

The application process is straightforward. It requires employment, salary, and monthly expense information. You won’t need a sales agreement or title to get your funds disbursed. Checking if you qualify for a loan doesn’t impact your credit score, and borrowed funds can be received as soon as the next business day. 

We chose Harley-Davidson as the best motorcycle loan for manufacturer’s financing because it offers new and used motorcycle loans for purchases at its dealerships as well as private-party financing on used Harley-Davidson motorcycles. The motorcycle brand provides loans through Eaglemark Savings Bank, a subsidiary of Harley-Davidson Financial Services.

Depending on the loan you choose, terms can stretch as long as 84 months. APRs can be as low as 5.49% for rider training graduates that fall in the highest credit tier if the loan term is 60 months or less. Military members may also qualify for reduced rates, flexible term options, and a $0 down payment.

You don’t need to pick out a motorcycle before applying for financing. A loan decision can be made in minutes, and all financing is facilitated by the dealership, even if you apply online. This includes private-party financing. If you don’t have a dealership nearby, this could present issues, as both the buyer and seller must visit a Harley-Davidson location to finalize financing. 

They do not specify a minimum credit rating required, but higher credit scores qualify for better loan terms. You must have address, contact information, date of birth, Social Security number, income, and employer, along with any additional documents requested in your credit decision to finish the financing process. 

USAA made the cut as our choice for the best motorcycle loan for military and veterans because of its ability to handle unique situations military members face.

The caveat is that you must be a USAA member to apply for a USAA motorcycle loan. You can qualify if you’re a U.S. military member, veteran, or a pre-commissioned officer. Spouses and children of USAA members also qualify.

USAA motorcycle loans can finance new and used motorcycles, scooters, and new off-road dirt bikes. APRs begin as low as 8.49%, including a 0.25% auto-pay discount, and loan terms go up to 72 months. You must finance at least $5,000 to qualify for 12- to 48-month terms, $10,000 to $15,000 for 60-month terms, and $15,000 or more for 72-month terms.

They have no minimum credit score requirement and look at your entire financial picture before approving or denying your application.

You’ll need a signed contract with a dealership or title information from a private party. USAA requires you to sign loan documents and sends a check to you or the previous owner’s lender by FedEx, which takes one to three business days.