Best Motorcycle Loans

Motorcycles are exciting vehicles but can set you back thousands of dollars. Browsing motorcycles should be a fun process, but it can be stressful trying to figure out how you’re going to afford it.

You can either pay in full upfront or take out a motorcycle loan - and for many of us, a loan is the best option. Motorcycle loans aren’t under the same category as auto loans as they’re classed as a recreational vehicle.

You’ll find that motorcycle loans are similar to boats and RVs - which are unfortunately higher than most auto loans.

If you’re on the market for a new motorcycle and need to find an auto loan to finance it, then keep reading for more information on the best motorcycle loans of 2020.

Wells Fargo


  • They provide loans for other recreational vehicles
  • Quick access to your funds
  • Speedy and simple process
  • Chance to qualify for lower interest rate


  • Have to apply over the phone

The Wells Fargo application process is slightly different from most other lenders’ - you have to apply over the phone instead of online. Thankfully, their call line is open most of the time - from Monday to Friday, it’s open 7 am to 11 pm, and on the weekends it’s open from 7 am until 9 pm (central time).

If you’re an existing Wells Fargo customer, then you could qualify for better deals that other customers can’t - such as a reduced interest rate if you sign up for automatic payments from your bank account.

There are no prepayment penalties with Wells Fargo - because after all, why should you pay extra to pay off your debt earlier than expected?



  • Wide variety of different lenders to choose from
  • No credit rating limits
  • A quick and easy prequalification process
  • Loans of up to $35,000
  • Can find a loan for other recreational vehicles


  • Some lenders will charge an origination fee

With one simple application form, you can get connected with multiple lenders. You can easily compare different terms and rates, instead of having 50 different tabs open on your computer, making your experience a lot more streamlined.

LendingTree can help you find a motorcycle loan even if your credit history is less than perfect - but of course, the interest rates will get steeper the lower your credit score falls.

You just need to provide them with information about your motorcycle of choice, such as the make, year, and cost, along with personal information. Depending on your lender, you may get charged a small origination fee.

The loan amounts vary between a low $1,000 to a higher $35,000 - which is sure to cover even the more expensive and modern motorcycle models.

A motorcycle parking on the road right side and sunset




  • Competitive interest rates beginning at 3.29%
  • Better rates if you’re an existing Altra customer
  • Loan terms as long as 84 months (7 years)
  • Can apply online, in a branch, and over the phone
  • Convenient loan calculator


  • Not BBB accredited

If you’re already an existing customer with Altra Federal Credit Union, then you can take advantage of a number of perks, including competitive interest rates starting at 3.29% APR.

If you have a credit card with Altra, or an Altra checking account with direct deposits and e-statements, then you’ll be eligible for a discount. You’ll also be eligible if you refinance your loan from another lender.

The terms of Altra loans be as long as 84 months - yes, that’s seven years. You’ll get offered different loans depending on your credit history, your previous history with Altra, your method of payment, and mileage and age of the vehicle, and vehicle info.

Best Egg


  • Option to apply for a second loan after six months
  • Online loan calculator
  • Loans starting at $2,000
  • Competitive interest rates


  • Loans are more suited to customers with good credit

Applying for a Best Egg loan is simple - and if you need any assistance, you can use their convenient loan calculator to give you an insight as to what your monthly payments will be.

The loans start at a low $2,000 - which is ideal if you’re after a cheaper vehicle. Many loan providers start their loans at much higher amounts, so Best Egg is a good choice if you’re on a budget.

After six months, you can apply for a second loan with Best Egg. This is perfect for covering future finances - whether it be weddings, repairs, or hospital bills. All you need to do to qualify is to keep your current debt below $50,000.