The Cost of Freedom: 4 Best Motorcycle Loans

Motorcycles tend to cost significantly cheaper than cars. While a new car costs on average $50,000 in 2022, a motorcycle can cost on average $6,000 to $20,000.

If you're looking for a motorcycle with less than 20,000 miles, you should look forward to spending on average $4,000 to $6,000.

There's no denying that going by the market rates, bikes can be a huge purchase. So, if you've not saved enough to finance through cash, motorcycle loans are a classic option. Motorcycle loan lenders help you finance your bike, whether you're purchasing it new or used.

In this post, we evaluated some motorcycle loan lenders and personal loan financiers to identify the ones with the best financing options. Each lender was evaluated based on credit requirements, funding speed, interest rates, and credit score.

Four Best Motorcycle Loans for 2022

Let’s take a look at which motorcycle loans offer the best value for money in 2022

1. Lightstream

Lightstream is one of the leading motorcycle lenders in 2022. Promising uncomplicated lending with its ‘great service’ and ‘low rate’ mantra, Lightstream promises heaven on earth.

Some of the benefits of Lightstream as a motorcycle lending entity include:

• Low rates. Lightstream allows consumers to get the low rates they deserve. As a consumer, Lightstream understands that good credit means a great rate. Consumers can get fixed-rate, low-interest loans that range from $5,000 to $100,000. So, whether you're looking forward to financing your first bike or you're looking forward to upgrading to a brand new motorcycle, look no further.
• Cash buying. As a lender, Lightstream deposits the loan directly to your bank account, allowing you to negotiate and leverage cash purchases.
• Speed. Lightstream can fund your loan as soon as you apply. Lightstream gives you control of the loan process. You get to select the loan date and you can have the money deposited into your account as soon as the day you apply for the loan.
• Simplicity. Lightstream offers refreshingly simple loans. You can apply for your motorcycle loan from the convenience of your home, office, or even vacation using a tablet, smartphone, laptop, or work computer.

The smooth and speedy process with great customer service makes Lightstream a darling to most aspiring motorcycle owners.

2. Harley-Davidson

Welcome to the world of Harley for a thrilling riding experience. Harley-Davidson offers many financing solutions for both used and new motorcycles. You can now own a Harley-Davidson for less by simply visiting Harley-Davidson and looking at different financing options.

Harley-Davidson financing allows you to customize your finances and individualize your biking experience. The loans let you tailor your payment plans to meet your financing needs.

Harley-Davidson offers the following financing options:

• Fixed or linked interest rates
• Repayment periods of one to three years
• Account management and electronic management
• Loan financing from the comfort of your home

You can visit your dealer for a fair quotation on a motorcycle loan.

3. Wells Fargo

Wells Fargo personal loans are ultimately unbeatable financing options for new and upcoming motorcycle riders. Instead of managing your loan from almost everywhere, Wells Fargo loans allow borrowers to access statements from their phones, alongside interest rates and payment terms.

The benefits of working with Wells Fargo as your motorcycle lender include:

• Industry experience. Wells Fargo is a renowned motorcycle and auto lender with more than five-decade experience in financing; personal financing, auto financing, motorcycle financing, and asset financing in general.
• Nationwide network. Wells Fargo has over 11,000 dealerships worldwide, offering unlimited access to autos and motorcycles, regardless of where you're.
• Dedicated customer support. As the world's leading lender, Wells Fargo takes pride in its responsive, 24/7 customer support. You can rest assured that you'll feel served and supported knowing that an active team is there to help you and listen to your concerns.
• 24/7 account access. Wells Fargo offers 24/7 access to your bank account. By gaining 24/7 access to your account, you can check your loan activity, pay online and obtain online statements.

Wells Fargo takes pride in its strong brand and unparalleled history as a lender and financier of personal loans and assets.

4. myAutoloan

myAutoloan provides accessible and affordable loans and rates – whether you’re looking for a second-hand, used motorcycle or you want to acquire a brand new Harley-Davidson.

When you submit your application to myAutoloan, you'll receive more than four offers. You get to select your preferred deal after weighing the pros and cons of each financing option.

The benefits of myAutoloan are that it provides a highly customized platform for calculating your loan, identifying financing options, and determining your suitability for approval.

• Interest rate chart. myAutoloan interest rate chart allows potential bike owners to check and compare the interest rates of different loan types. Constant checking and comparisons may help clients determine the loan types best suited to their financial or asset acquisition needs.
• Interest rate estimator. You can find out about your rates long before you apply. The interest rate estimator helps you track your interest rates, thus making the best purchase decision that fits your financial position.
• Payment calculator. The payment calculator lets you know how much you'll spend on a new or a used bike by first determining your interest rates. So, the payment calculator evaluates the amount of money you're likely to pay back in case a loan is approved.

myAutoloan believes that the bike life is for you. But, if you don't have a bike yet and need a little more cash to acquire a new motorcycle, we can help you get there. Regardless of your financing needs, myAutoloan offers attractive loan options that befit your financial needs.