Calculate your motorcycle loan monthly payment. Compare new vs used bikes, understand financing rates and terms, popular brands, and real ownership costs before you ride off.
Averages — rates and prices vary by credit, brand, and model year
Enter the bike price, your down payment, interest rate, and loan term to see your exact monthly payment.
Open Loan Calculator →Motorcycle loans function similarly to auto loans — you borrow the purchase price (minus any down payment), repay with interest over a fixed term, and the lender holds a lien on the title until paid off. However, motorcycle loans have some important differences: they typically carry slightly higher interest rates than auto loans (lenders view motorcycles as higher-risk due to accident statistics and the fact that they're discretionary purchases), and maximum loan terms are sometimes shorter.
Loan terms range from 24 to 72 months for most motorcycle purchases. Longer terms reduce monthly payments but increase total interest paid. Use our loan calculator to compare different term scenarios side by side.
New Motorcycle Advantages: Manufacturer warranty (typically 1–2 years, some brands offer 3 years), promotional financing (0–3.9% APR programs from Harley-Davidson, Honda, Yamaha), latest safety features, no hidden history, predictable maintenance for first several years.
Used Motorcycle Advantages: 20–50% lower purchase price, slower depreciation curve (takes the first-year hit from someone else), lower insurance cost (lower replacement value), credit union financing often beats manufacturer promotions on used bikes when rates are high. On a $8,000 used bike vs $15,000 new at the same 7% / 60 months: $158/month vs $297/month — a $139/month difference.
For first-time riders, a reliable used bike in the $4,000–$8,000 range is the near-universal recommendation from experienced riders. New riders drop bikes frequently — this is normal, expected, and part of learning. The financial and psychological cost of damaging a $15,000 new bike is far greater than a $5,000 used one.
Harley-Davidson: Flagship American cruiser brand. New cruisers range $12,000–$35,000+. Harley-Davidson Financial Services offers promotional rates and dealer financing. Strong resale value compared to many imports.
Honda: Japan's largest manufacturer with bikes from $3,500 (CB300R) to $27,000 (Gold Wing). Honda Financial Services provides competitive financing. Excellent reliability reputation.
Yamaha: Wide range from the entry-level MT-03 ($5,500) to sport bikes and adventure touring above $20,000. Yamaha Motor Finance offers competitive programs.
Kawasaki & Suzuki: Strong mid-range offerings with competitive sport and naked bikes. Often priced 10–15% below equivalent Honda/Yamaha models.
BMW Motorrad: Premium European manufacturer with adventure touring (GS series), sport, and urban bikes. New BMWs start around $12,000 and exceed $25,000 for flagship models. BMW Financial Services available.
Monthly payment is only part of the ownership cost equation. Budget for these additional costs:
• Insurance: $200–$500/year for experienced riders with basic coverage; $800–$2,000+ for new riders or sport bikes with full coverage
• Gear (ATGATT — All The Gear All The Time): Helmet ($100–$800), jacket ($200–$800), gloves ($50–$200), boots ($100–$400), pants ($100–$500) — quality gear saves lives
• Registration and licensing: $50–$200/year plus motorcycle endorsement course (~$300) if new
• Maintenance: Annual oil changes, chain maintenance, tires (replace every 5,000–12,000 miles depending on type, ~$200–$500/set), brake pads
• Storage: If no garage, covered outdoor storage or seasonal indoor storage can add $200–$500/year
Most lenders approve motorcycle loans with credit scores of 600+, though scores below 640 will face significantly higher interest rates (12–20%). Scores of 700+ qualify for the best rates (6–8%). Some dealer financing programs are available for subprime borrowers, but terms can be unfavorable. Check your credit before shopping and consider improving it before applying for better rates.
Compare rates from: (1) your bank or credit union — often lowest rates for members, (2) manufacturer financing programs — sometimes offer 0% promotions on new models, (3) online lenders — LightStream, LendingClub often competitive for well-qualified borrowers, (4) dealer financing — convenient but shop around first. Credit unions typically offer 1–3% lower rates than banks for the same credit profile.
Yes — most banks and credit unions finance used motorcycles, typically for bikes up to 10–15 years old. Rates on used bikes are usually 1–2% higher than new. Very old or high-mileage bikes may not qualify for financing. Some lenders have minimum loan amounts ($1,000–$3,000), so very inexpensive used bikes may need to be purchased with cash.
A 10–20% down payment is recommended to avoid being "underwater" on your loan (owing more than the bike is worth). Motorcycles depreciate approximately 15–25% in the first year — without a down payment, you may owe more than market value if you need to sell or if the bike is stolen or totaled. A 20% down payment on a $15,000 bike is $3,000, leaving a $12,000 loan.