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Compare loans for Harley-Davidson motorcycles

Find a loan to finance your next Harley.

Heart set on buying a Harley? Buying one of these iconic bikes can be a considerable investment with models costing anywhere from $7,000 to over $50,000. Luckily, there are several loans specifically designed for purchasing a Harley-Davidson and it’s worth exploring finance brokers that offer these specific loan packages.

How can I finance a Harley-Davidson?

Although standard car loans work similar to motorcycle loans, some lenders consider motorcycles riskier investments and will be unwilling to issue loans for your Harley-Davidson. You have a few different options when looking to purchase your new Harley.

  • Harley-Davidson financial services. Harley-Davidson offers financing to buy a bike along with parts and accessories. You can apply online or at an official Harley-Davidson dealer.
  • Personal loans. Many personal loan providers offer loans of up to $50,000 and allow you to use your funds for any legitimate purpose, including buying a new motorcycle.
  • Recreational vehicle loans. Some online lenders, banks and credit unions also offer financing for recreational vehicles, including motorcycles.
  • Your bank. Your bank may offer motorcycle loans, but the eligibility criteria tend to be much higher than if you chose to go through an online lender or a finance broker.

Compare loans to buy a Harley-Davidson

Name Product Min. Loan Amount Max. Loan Amount APR Fees Loan Term Min. Credit Score
$2,000
$10,000
43% (British Columbia and Ontario) and 34.9% (Quebec)
None
1-5 years
N/A
LendingMate offers loans to Canadians with poor credit with no credit checks.

Compare up to 4 providers

Name Product Min. Loan Amount Max. Loan Amount APR Fees Loan Term Min. Credit Score
$500
$20,000
26.99% - 39.99%. Varies by loan type and province
Varies by province
6 months - 5 years
550
Fairstone offers small to medium personal loans up to $20,000.
$5000
$30,000
19.99% - 23.99%. Varies by loan type and province
Varies by province
3 - 10 years
550
Fairstone offers secured personal loans up to $30,000.
$2000
$35,000
5.9% - 45.9%
NSF fee - $20 to $48
2-5 years
540
Mogo offers loans up to $35,000 on flexible terms.
$2000
$10,000
18.9% - 54.9%
None
1-5 years
550
An established online lender with loans up to $10,000. Now accepting applicants on El and Social Assistance.
$5,000
$35,000
From 5.15%
None
1-5 years
N/A
Motusbank offers personal loans up to $35,000 for all Canadian residents excluding Quebec.
$5,000
$35,000
From 5.65%
None
N/A
N/A
Motusbank offers line of credit loans up to your approved limit for Canadian residents excluding Quebec.
$1,000
$15,000
46.93%
None
Term of loan will vary by product
N/A
Borrow up to $15,000, based on your income and credit history, with a personal line of credit from LendDirect.
$2000
$10,000
43% (British Columbia and Ontario) and 34.9% (Quebec)
None
1-5 years
N/A
LendingMate offers loans to Canadians with poor credit with no credit checks.
$1,600
$25,000
9.47% - 20.07%. Varies by loan size (excluding Quebec)
Origination fee: $250 - $1,000 depending on loan size
3-5 years
N/A
A loan that you repay before gettּing access to the funds. Enjoy no upfront fees and a low interest rate.
$100 (in store), $500 (online)
$10,000
46.93%
Vary across provinces/territories
6 months - 5 years
N/A
Cash Money offers installment loans up to $10,000 for BC, AB, SK, ON and NS residents.
$100 (in store), $500 (online)
$10,000
46.93%
Vary across provinces/territories
6 months - 5 years
N/A
Cash Money offers line of credit loans up to $10,000 for BC, AB, SK, ON and NS residents.

Compare up to 4 providers

How should I compare my Harley-Davidson loan options?

You’ll need to consider multiple factors when finding a loan to finance your Harley. Knowing how much you can afford, how you want to make your monthly payments and the fees attached to borrowing will help you narrow down your search.

Whether you’re borrowing directly from Harley-Davidson or choosing a loan from a bank, review the interest rates and terms. How much will the loan cost? Will you be able to tackle the payment plan? Will you be able to afford the maintenance that a motorcycle requires? These questions should factor into your decision.

Like all loans, make sure you find a deal that doesn’t hurt your finances. The best way to do this is to do a side-by-side comparison of interest and fees. Once you’ve found the right loan, contact the lender and see if you qualify.

Looking at a used Harley?

You can use a personal loan if you want to purchase a used motorcycle. Here are some specific tips to keep in mind if you want to buy a preowned bike:

    • Go to motorcycle rallies where you can test ride different models to see which one suits you. Some of the more popular events include:
      The Wharf Rat Rally in Digby, Nova Scotia
      The Motorcycle Shows (aptly named) that tour across Canada
      The Toronto Motorcycle Show (not part of The Motorcycle Shows mentioned above), which is a great place to check out newest releases and yearly model lineups from top motorcycle manufacturers. It’s also a great place to ask technical questions and look over gear and accessories.
      You can contact a Harley-Davidson dealership to arrange a test ride or even rent a bike for a little while to try out its features. Harley-Davidson also hosts special events across Canada throughout the year for members of the H.O.G. (Harley Owners Group), a brand-managed club which you have to pay to be a member of.
    • Read other bikers’ reviews to get an idea of which features to look for and which features you should avoid
    • If you’re an inexperienced rider, you might want to look for a bike with a smaller frame because they handle quick turns and short stops more easily. A bigger bike will take more skills to handle in unexpected driving conditions.
    • Run a VIN check on any motorcycles you’re thinking of buying. It’s crucial to understand the bike’s history in terms of maintenance, accidents and ownership so that you won’t get stuck with a bike that has hidden defects or multiple claims of ownership.VIN checks are offered by a number of companies, including CARFAX. Also, the Insurance Bureau of Canada (IBC) offers a free VIN check service specifically to verify whether a vehicle has been reported as flood-damaged and non-repairable by IBC member insurance companies.

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    How much do Harley-Davidson motorcycles cost?

    A new Harley can cost anywhere from $7,000 to $50,000+, depending on the type. It can cost even more if you want to customize it.

    Used Harleys tend to be cheaper, but you’ll want to do your quality checks to make sure it’s in good condition and well-maintained.

    What should I consider before I buy a Harley?

    Here are some of the things to consider when shopping for your Harley.

    • Secured or unsecured. If you’re considering a used Harley, some secured loans won’t accept a bike older than a certain number of years.
    • The condition of the bike. If you’re buying from an individual, make sure you’re getting what was advertised. Make an appointment to inspect the bike for sale, and if you’re a novice, take along someone with some knowledge about Harley-Davidsons. Ask to see service records and guarantees for parts that need to be replaced before the bike is sold.
    • Insurance. Whether new or used, a Harley-Davidson is an investment that should be covered with insurance. If your lender doesn’t offer insurance, ask about your options at a Harley-Davidson dealership. You can also look into independent motorcycle insurance policies.
    • Riding experience. If you’ve never ridden a motorcycle, it might be a good idea to start with something smaller. Take lessons and get some experience riding a bike before making a serious investment.
    • License restrictions. Your drivers license doesn’t qualify you to drive a motorcycle. You’ll need to apply for a motorcycle license before you take your Harley out for a ride. Make sure you never ride without a valid motorcycle license.
    • Maintenance. Your Harley-Davidson will need to be serviced regularly. This is especially true of used models. Keep in mind the cost of maintenance when determining your budget.

    Frequently asked questions

    Pictures: Shutterstock

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