ATV loans: What you need to know

How to finance an off-road vehicle.

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Driving an ATV through a shallow river

Anyone who’s ridden an all-terrain vehicle (ATV) knows that there’s nothing like tearing through trails on a quad. But if you don’t cash lying around to buy a new 4X4, you’re going to need financing.

Compare providers for ATV loans

Name Product Min. Loan Amount Interest Rate Fees Loan Term Min. Credit Score Link
LoanConnect Car Loans
$500
1.90% to 46.96%
Varies by lender, loan type and province
6-60 months
550
Go to site
More Info
Get access to 25+ lenders through Loan Connect's brokerage, and receive pre-approval in as fast as 5 minutes, and financing up to $50,000 in as little as 24 hours from the time of your application.
CarsFast Car Loans
$500
4.90% to 29.90%
Varies by lender, loan type and province
12 months - 8 years
N/A
Go to site
More Info
Browse thousands of vehicles from dealers across Canada and get matched with financing that meets your needs. Apply online to purchase a new or used vehicle and get the vehicle delivered to your door.
Car Loans Canada
$7,500
4.49% to 29.90%
Varies by lender, loan type and province
12-84 months
300
Go to site
More Info
Search thousands of vehicles online, including $0 down options, from dealers across the country and get matched with affordable financing options. Auto loans are also available to those with bad credit, consumer proposals and bankruptcies to help rebuild credit.
Auto Arriba Car Loans
$3,500
8.99% to 29.50%
Contract fee of $499.00
6-84 months
N/A
Go to site
More Info
Auto Arriba offers car loans starting at $3,500 up to $100,000, with as little as a 30 minute loan turnaround time. On a limited number of approved loans, Auto Arriba is currently offering a rebate of the amount of your first scheduled payment 30 days after it has been processed up to a maximum of $500.
Carloans411 Car Loans
$500
1.90% to 19.99%
Varies
Up to 84 months
300
Check eligibility
More Info
Get connected with suitable lenders through CarLoans411. Finance your next car, van or truck with loans available in amounts from $500 to $35,000. Check eligibility for this loan through LoanConnect.
Fairstone Secured Personal Loan
$5,000
19.99% to 23.99%
Varies by province
3-10 years
560
Go to site
More Info
Fairstone offers secured personal loans up to $35,000.
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Name Product Interest Rate Max. Loan Amount Loan Term Fees Min. Credit Score Link
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$20,000
6 months - 5 years
None
560
Go to site
More Info
Fairstone offers unsecured personal loans up to $20,000
Cash Money Installment Loan
46.93%
$10,000
6 months - 5 years
Vary across provinces/territories
560
Go to site
More Info
Cash Money offers installment loans up to $10,000 for AB, MB and NB residents.
LendDirect Personal Loan
19.99% - 46.93%
$15,000
No end dates
None
560
Go to site
More Info
Borrow up to $15,000, based on your income and credit history, with a personal line of credit from LendDirect.
LendingMate Personal Loan
43% (British Columbia and Ontario) and 34.90% (Quebec)
$10,000
1-5 years
None
700
Go to site
More Info
LendingMate offers loans to Canadians with poor credit with no credit checks. Guarantor required for application.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$35,000
3-10 years
Varies by province
560
Go to site
More Info
Fairstone offers secured personal loans up to $35,000.
Alpine Credits Home Equity Loan
10.00% - 22.99%
$500,000
Up to 60 months
Between 5% - 8% of your APR will cover closing and admin fees.
300
Check eligibility
More Info
Alpine Credits offer home equity loans in amounts from $10,000 to $500,000. Must be a homeowner to qualify. Check eligibility for this loan through LoanConnect.
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Representative example: Jayden buys a new ATV

Jayden, a resident of Ontario, wants to buy an ATV for summer vacation. After doing some research, he heads to a nearby dealership, where he finds a 2020 Kawasaki Brute Force 300 priced at $4,300.00. Jayden makes a 10% down payment of $430.00 and heads to his local bank to get an auto loan to cover the remaining $3,870.00 + $559.00 HST on the purchase price. Because Jayden has a solid credit history, he is approved for a $4,429.00 auto loan with competitive terms.

Cost of new car$4,300.00
Loan typeAuto loan (term loan)
Loan amount$4,429.00
Interest rate (APR)4.90%
Loan term3 years
Additional fees4.00% origination fee ($177.16)
Payment$132.54 monthly or $61.11 biweekly
Total loan cost$4,771.44 with monthly payments or $4,766.58 with biweekly payments

*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.

How much do ATV loans cost?

Since ATVs are often less expensive than other larger vehicles, you typically don’t have to make a down payment. The interest charged on your loan is therefore your primary cost.

Promotional ATV rates by brand

The easiest way to compare the cost of an ATV loan is to look at the APR, which is the interest and fees expressed as a percentage. Here are some examples of special offers from popular ATV manufacturers as of June 7, 2020:

BrandPromotional APR
Yamaha1.99%-5.49% promotional rate depending on the length of the loan term, which can vary between 24 and 72 months. Loyalty program allows returning customers to get a 0.50% rate reduction on the purchase of new ATVs (conditions apply).
Polaris1.99%-3.99% promotional rate for 60 months or 4 months deferred financing followed by a 4.99% promotional rate for 60 months.
Honda3.9% for 72 months or $45 per week; 4.9% for 72 months or $43 per week.

ATV loan rates by credit score

The table below shows what type of APRs may be offered by lenders relative to different credit scores. Note that the actual APR you’re offered may differ – this is just a representative example.

Credit typeCredit scorePossible APR
Excellent760-9000%-3%
Very Good725-7593%-5%
Good660-7245%-8%
Fair560-6598%-12%
Poor300-55912%-15%+

Lower credit can also affect which loan terms you qualify for. Generally, you’ll need to have at least good credit to qualify for longer terms. Other factors like your debt-to-income ratio can also factor into your rate.

Fair and poor credit applicants can sometimes find long-term options, but with high interest rates that can make the loan incredibly expensive if you don’t pay it off early.

LoanConnect Car Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $50,000
  • Interest Rate: 1.90% to 46.96%
  • Loan Term: 6-60 months
  • Pre-approval in as quick as 60 seconds
  • Quick and simple financing
  • Safe and secure loans
  • All provinces

LoanConnect Car Loans

Get access to 25+ lenders through Loan Connect's brokerage, and receive pre-approval in as fast as 5 minutes, and financing up to $50,000 in as little as 24 hours from the time of your application.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $50,000
  • Interest Rate: 1.90% to 46.96%
  • Loan Term: 6-60 months
Promoted

ATV financing calculator

Got a vehicle in mind? Use this calculator to figure out how much your monthly repayment will cost with different loan terms and rates.

ATV loan monthly payment calculator

Calculate how much you could expect to pay each month
Your loan
Loan amount
$
Loan terms (in years)
Interest rate
$ %

Fill out the form and click on “Calculate” to see your estimated monthly payment.

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You can expect to pay back $ per month

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$ in principal and $ in interest charged Compare ATV loans now

Am I eligible for an ATV loan?

Eligibility can vary, depending on the lender and type of vehicle you’re interested in. However, you typically need to meet the following requirements to qualify:

  • Regular income. You generally need to earn enough to comfortably meet your monthly repayments.
  • Age of majority. The minimum age to take out a loan is either 18 or 19 depending on the province or territory in which you live.
  • Canadian resident. You’ll likely need to provide proof that you reside in Canada (such as a utility bill or bank statement with your name and address on it). You might have to find a personal loan with a cosigner if you can’t satisfy this requirement.

What’s the minimum credit score for an ATV loan?

You can generally find ATV financing options for all credit score ranges. However, you’ll generally get a better deal if your credit score is above 660 — what most lenders consider to be “good credit.” You’ll have even more options if your score is 725 or higher.

How to finance an ATV with a dealer or manufacturer

Getting financing directly from your ATV dealer or manufacturer is a popular way to pay for a new vehicle. Here, you’re required to use your vehicle as collateral.

1. Manufacturer financing

Some dealers offer financing directly from the manufacturer, which allows them to offer promotions like cash rebates or 1.99% interest for the first 6-12 months on credit cards — often strategies for moving less-popular models.

2. Third-party financing through a dealership

Many dealers offer financing through a third-party lender — like a bank or credit union. These can sometimes be less costly than manufacturer financing, but you might have a difficult time qualifying for a competitive loan if you don’t have excellent credit.

How to finance an ATV with an outside lender

Don’t want to risk losing your vehicle? Taking out an unsecured personal loan is another option. You can apply for these online or through your local bank or credit union. Online lenders tend to get you your funds faster and don’t have strict credit requirements like many banks.

1. Personal loans

Some lenders have restrictions on how you can use your funds, though many don’t have any policies about recreational vehicles. Like with dealership financing, you’ll need good or excellent credit and a steady income to get approved for the most competitive rates and higher amounts.

2. Bad credit financing through private lenders

Certain lenders work specifically with borrowers who have bad credit. However, these loans usually come with higher rates to offset some of the riskiness of the loan.

Used vs. new ATVs

Before you buy a new ATV, consider whether you want a new or used vehicle. Both come with benefits and drawbacks.

Compare ATV loans

How to find a competitive deal on an ATV loan

You can find a competitive deal by comparing these four main factors:

  • Eligibility. Write off any options you don’t meet the basic requirements for.
  • APR. A lower APR means you’ll pay a smaller percentage of the balance in interest and fees.
  • Term length. Find the shortest loan term you can afford to lower the overall cost without struggling with monthly repayments.
  • Loan amounts. Most in-house financing options cover up to 100% of the value of your vehicle, while outside lenders might have minimum and maximum loan amounts.

How to choose the most favorable loan term

Most in-house ATV loans come with 24- to 72-month terms. Unsecured personal loans often come with a wider range of terms from 6 to 60 months.

A longer term can give you lower monthly repayments, but you’ll end up paying more in interest. A shorter term might save you on your total loan cost, but it’ll up your monthly repayments. To get the best of both worlds, use our calculator to find the shortest term length you can afford.

4 tips for comparing ATV loans

  1. Make sure you’re eligible first. While many dealers have options for all credit types, there’s a chance your credit score or income type just doesn’t fit the bill. Ask about eligibility requirements before anything else so you don’t waste your time.
  2. Request quotes. Many manufacturers only advertise the lowest possible rate on their websites, which only the most creditworthy borrowers can actually qualify for. But many manufacturers and online lenders allow you to apply to pre-qualify to get an estimate of the rates and loan amounts you can expect with no effect on your credit score.
  3. Compare APRs with the same term lengths. The longer your loan term, the more you pay in interest. That 1.9% APR might not be as much of a savings as you thought if it comes with a longer term than higher-APR shorter-term offers.
  4. Ask questions. Personal loans aren’t as regulated as, say credit cards, so you might not be able to find all of the information online. Go directly to the source if you have any questions by calling the customer service line, shooting an email or using your lender’s live chat feature to get answers to any area that’s unclear.

Find an ATV loan

How can I finance an ATV?

You can finance your ATV through a lender or manufacturer. Dealerships often offer a combination of lender and manufacturer financing with options that include:

  • Secured loans. A term loan that uses your vehicle as collateral, which you pay off over 1-5 years.
  • Unsecured loans. A term loan with 1- 5-year terms that doesn’t require collateral. You’ll need stronger credit to qualify than a secured loan, but you don’t risk losing your car.
  • Manufacturer credit cards. Some manufacturers offer credit cards, often with low promotional APRs for the first 6 months or more.

Warning signs to watch out for

Want to make sure your lender is legit? Watch out for these red flags when looking for ATV financing:

  • Guarantees. No lender can guarantee that you’ll get approved for a loan. If you come across one that does, there’s a chance it’s a scam.
  • No credit check loans. Often these loans come with even higher rates than you would get if you’d had a credit check.
  • Upfront payments. Most ATV loans generally don’t come with a down payment. Any lender asking for money before you get your funds could be running a scam, especially if they’re in the form of gift cards or money orders.

Top ATV brands to consider

Check out how these top ATV brands compare.

BrandCost for 2019-2020 modelsSeriesTypes of financing available
Yamaha$2,699–$13,799Raptor, YFZ, Grizzly, KodiakTerm loan through Yamaha Financial Services (balloon payment option available)
Arctic Cat$6,099–$7,829AlterraFinancing available from authorized Arctic Cat dealers (options vary)
Polaris$12,199–$31,199General, Ranger, RZR, Sportsman ATVInstallment loans through Sheffield Financial, Synchrony Financial, TD Auto Finance and Performance Finance.

Polaris Visa Card also available.

Honda$7,899–$11,799Rubicon, Foreman, TRXTerm loans through Honda Financial Services
Arctic Cat$6,099–$7,829AlterraTerm loans through TD Auto Finance

3 common types of ATVs

  • Sports ATV. These quads are designed for fun. They’re faster, lighter and can absorb shock better than their counterparts. They’re also typically less expensive.
  • Utility ATV. When you’re hauling cargo through rough terrain, a utility ATV is what you’re looking for. It can handle a heavier load and is typically more stable than a sports ATV.
  • Side-by-side. Also known as SxS or UTV, these vehicles let you bring another person or carry a heavier load than a utility ATV.

Compare ATV financing

Can I get an ATV loan with bad credit?

Yes, but it won’t be cheap. That’s because lenders typically consider customers with bad credit to be high-risk borrowers. Some have credit cut-offs, meaning that you won’t be able to qualify. If you do qualify, expect a rate of around 20% or higher.

No credit check car loans

Bottom line

Between in-house financing and personal loans, you’ve got lots of options to choose from when it comes to paying for a new or used ATV. Dealership financing might be easier, but you have less options to explore — and you could find more competitive rates elsewhere.

Get started on your search by checking out our personal loans guide to learn more about how they work and compare lenders.

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