How Buy A Motorcycle With Bad Credit

A large down-payment can be beneficial in purchasing a motorcycle if you have bad credit.

Buying a motorcycle with bad credit is possible if you take advantage of the right resources. A motorcycle is challenging to finance with bad credit–even more so than a car–because they are considered recreational vehicles by lenders. It is not uncommon to have a difficult time financing a motorcycle even with a poor or fair score. Improving your credit enough to find a lender can be time consuming, but there are certain tactics you can take advantage of to make the process go more quickly.


1. Order your credit report to ensure that there are no errors that are negatively affecting your credit score. Pay off any outstanding debts listed on your credit report. Clearing up old debts can positively impact your credit score quickly.

2. Talk openly with the motorcycle dealership about your credit score and situation. The dealer is just as eager to make a sale as you are to buy a new motorcycle and they will often go to great lengths to find a lender that is willing to finance your motorcycle. The downside to using the dealer’s lenders is that they will often have higher rates than a lender you procure yourself.

3. Call local credit unions and small banks. If you have a bank account that has been in good standing call your bank to see if they offer motorcycle financing and would be willing to work with you.

4. Save money so that you can make a larger down-payment. Offering more money up front makes lenders feel more secure loaning you money. It is also helpful in the future because it will lower your monthly payment amount.

5. Ask a close friend or relative with good credit to co-sign the loan for you.

6. Save enough money to buy a motorcycle outright so that you do not need financing. Buying a used motorcycle from an owner is almost always cheaper than buying a new motorcycle from a dealership. You will avoid the hassle of finding a lender and you will own your motorcycle immediately instead of making monthly payments.