As you start getting ready to buy a new motorcycle, it’s important to consider the different types of financing options available to you. Getting a motorcycle loan is similar to the process of getting a car loan. In some cases, a motorcycle can be even more expensive than some cars. To get approved for a new motorcycle loan, most lenders will rely on your credit score. If for some reason you don’t have a good credit score, purchasing the motorcycle you want may seem out of reach. However, there are still options available for those who don’t have a perfect score.

These are the most common types of motorcycle loans you will encounter:

  • Dealership motorcycle financing: Dealership financing usually sounds like the easiest route to take, but it won’t necessarily guarantee you get the best deal. Knowing what annual percentage rates (APR) you are able to qualify for, can save you a lot of money in the long run. Before you head out to the dealership, shop around for motorcycle financing through other lenders. Bringing in another financing offer to the dealership can prevent you from signing up at higher rates than you have to.


  • Motorcycle manufacturer financing: Manufacturers often provide great incentives for those purchasing their first motorcycle. However, they rely heavily on your credit score. The incentives they offer will vary depending on the year, make, and model of the motorcycle you purchase. In most cases, it is recommended to get quotes from other lenders instead of relying on the OEM or manufacturer financing options.


  • Motorcycle financing through your bank: Working with a financial institution you are already familiar with can be very convenient. You can head to your preferred bank and discuss with a representative the different options they can offer. In some cases, you may get good discounts. However, it is important to know that not all banks offer motorcycle financing.


  • Motorcycle financing through a credit union and other private corporations: A lot of corporations and credit unions can work directly with dealerships and even manufacturers to provide attractive rates for new borrowers. The great advantage of working with a credit union or a private corporation is the customized solutions they will be able to provide to each borrower. For new or experienced motorcycle buyers with less than ideal credit scores, this may be the best route to get a great competitive rate.

Regardless of the type of financing you end up with, the best thing you can do is shop around. Talk to different financial experts who understand the motorcycle loan financing process. Learning how to get a motorcycle loan and the different options available will help you get the best possible deal.

Explore your options today! American Acceptance Corporation is fast, affordable and reliable. Our unmatched customer service and our cutting-edge online services will exceed your expectations. Contact our team to discuss the different financing options we offer for credit challenged Motorcycle buyers.