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4 ways to finance a motorcycle


NEW YORK – May 26, 2022 – (



iQuanti: Motorcycles are loved by many as some of the most exciting vehicles on the planet, and for many riders, these must-have vehicles come with a price tag that says finance is needed. Many bikers hit the road with some kind of motorcycle loan, which can take different forms depending on the lender.

The following common motorcycle financing options have general benefits and risks, but the best way to finance a motorcycle will ultimately depend on your particular situation.

Unsecured Loans

Some mainstream lenders offer motorcycle loans which are a form of unsecured personal loan that can be used to finance a motorcycle. In most cases, you can also use these loans for other purposes, such as motorcycle maintenance costs, upgrades, etc.

Since these loans are unsecured, you do not need to present any assets as collateral. And you don’t need to wait too long for the application process either. These types of loans make a lot of sense for anyone who wants a fixed-rate, fixed-term loan that won’t put their home or car at risk if they can’t pay it off on time.

Secured loans

Secured loans require collateral and are most often secured with the vehicle you purchase. If you don’t make the payments on a secured motorcycle loan, you could lose your vehicle.

Secured loans can be distributed either by a traditional lender, such as a bank or credit union, or by a non-traditional lender, such as a motorcycle dealership.

Equity loans

Equity loans are secured loans that allow you to borrow against the equity built up in your home. You generally need at least 20% equity in your home to qualify for a home equity loan or HELOC (Home Equity Line Of Credit), and if you do, keep in mind that taking out these loans are a long and expensive process, and failure to make your payments could result in the loss of your home.


Renting a motorcycle is technically not buying a motorcycle because you are essentially renting the motorcycle. The advantage of leasing is that it can be easier to get approved. Disadvantages include high fees and interest that accrue, which generally means that leases will cost more overall than loans.

Many leasing companies require large down payments and the motorcycle will be repossessed by the lender at some point. It will be resumed sooner if the tenant misses payments, which will also hurt their credit rating tremendously.

Find the right lender to fuel your passion

Generally speaking, a traditional lender such as a financial institution will give you the most options. For example, while many dealers and manufacturers offer one or two financing options that apply only to the vehicle purchased, a traditional lender can offer many types of loans, secured or unsecured, depending on your credit score and other eligibility factors.

In many cases, it doesn’t hurt your credit score to explore your options with a traditional lender who offers prequalification for personal loans and/or motorcycle loans. You can also consult a loan specialist and/or financial planner for additional information on which options might be best for you.

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4 ways to finance a motorcycle