Compare motorcycle and dirt bike loans in Canada

Buying a new or used motorcycle? You’ll likely need a motorcycle loan to help cover the purchase price of your new bike.

But where can you get a motorcycle loan in Canada, what motorcycle and dirt bike financing options are available and how can you qualify for funding? Keep reading to find out.

Compare motorcycle loans in Canada

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Where can I get a motorcycle loan in Canada?

There are four main motorcycle and dirt bike financing options to choose from:

1. Get a motorcycle loan through a loan search platform
2. Get a motorcycle loan through a dealer
3. Get a motorcycle loan from a bank or credit union
4. Get a personal loan

1. Get a motorcycle loan through a loan search platform

How it works

Your first option is to compare motorcycle loans in Canada through a loan search platform like My Auto Approval. These platforms can connect you with loan offers from a network of lenders through a single online application.

There are loans to help you finance a dirt bike or road bike, including options for good and bad credit. Rates vary depending on the lender you choose, with loan amounts generally ranging from $5,000 to $50,000. Terms of up to seven years are commonly available.

2. Get a motorcycle loan through a dealer

How it works

Once you’ve found the bike you want to buy, you can apply for financing directly from the dealership. This is a simple and convenient way to finance a motorcycle, and the dealership can help you find the loan you need with in-house financing or through their network of lending partners.

Dealership financing also gives you the chance to take advantage of special promo offers, such as 0% financing for a limited period, and there are options available for good and bad credit. However, it’s worth getting pre-approved for other financing offers before visiting a dealership so you know if the dealer’s offer represents a good deal.

3. Get a motorcycle loan from a bank or credit union

How it works

Banks and credit unions offer some of the best motorcycle financing rates around, provided that you have strong credit. Also known as powersports financing, these motorcycle loans often come with fixed interest rates and terms of up to 10 years. You’ll also be able to choose a repayment schedule that suits your income, and some banks and credit unions can connect you with their partner dealerships.

But if your credit score isn’t good or better, you likely won’t qualify for funding. You’ll need to consider motorcycle or dirt bike financing from an alternative lender instead.

4. Get a personal loan from a financial institution or alternative lender

How it works

Another way to finance a dirt bike or motorcycle in Canada is to pay for it with a personal loan. You’ll find the best interest rates from traditional lenders like banks and credit unions, but you’ll generally need good to excellent credit (660 or higher) to qualify. Alternative lenders are willing to work with borrowers who have less-than-perfect credit, but you’ll need to settle for a higher rate.

Personal loans can be secured or unsecured and come with fixed or variable rates. Loan terms usually range from one to seven years.

What type of motorcycle can I finance?

Not sure what type of bike to buy? Here’s a simple guide to the main types of motorcycles on the market today.

• Adventure bikes. Equally adept on the highway and on the dirt, adventure bikes are designed for long-distance travel. They feature large fuel and luggage capacity, plenty of suspension travel and comfortable seating.
• Cruisers. Made famous by brands like Harley-Davidson and Indian, cruisers offer an easy ride with comfortable positioning and plenty of torque. Custom cruisers that have been modified with a longer wheelbase are known as choppers.
• Dirt bikes. These two-stroke and four-stroke motorcycles are lightweight, feature increased suspension travel and have knobby tires for increased grip. They’re designed for off-road use.
• Dual sport bikes. A cross between a dirt bike and a road bike, dual sport models offer comfort and all the essentials that make them legal to ride on public roads (like headlights and indicators), but they’re also durable and maneuverable enough to be ridden off-road.
• Naked bikes. Also known as standard bikes or roadsters, naked bikes are easy to ride and feature an upright riding position with minimal bodywork.
• Scooters. These compact and lightweight two-wheeled machines feature step-through seating, fewer ccs than most motorcycles and an automatic transmission.
• Sport bikes. Designed for performance, sport bikes feature powerful engines and lightweight frames. They deliver fast acceleration, high maximum speeds and agile on-road handling.
• Touring bikes. Touring bikes are designed to cover long distances on the road. These big, heavy bikes feature large fuel tanks, plenty of luggage carrying capacity and features like padded seating and large fairings to increase on-road comfort.

How much do motorcycles cost?

The first step to comparing your motorcycle financing options is to figure out how much you need to spend. A motorcycle’s cost can vary a lot depending on whether it is new, used, high-performing or beginner-friendly. Used bikes start at a few thousand dollars, while a brand new bike could cost you anywhere between $3,000 to more than $40,000.

The models in the table below are some of the popular options on the market today for motorcycle and dirt bike buyers. It’s worth keeping in mind that the table below lists MSRPs for selected models. The total purchase price will end up being higher once freight, pre-delivery inspection costs and taxes are added.

Model	Type of bike	Price
Aprilia RS 660	Sport bike	$13,995
Aprilia SR 50 MT	Scooter	$2,895
Aprilia Tuono 660	Naked bike	$12,995
BMW R 1300 GS	Touring bike	$23,345
BMW R 18	Cruiser	$16,995
BMW S 1000 RR	Sport bike	$17,195
CFMOTO 450SS	Sport bike	$7,499
CFMOTO 800NK	Naked bike	$9,499
Ducati DesertX	Adventure bike	$20,595
Ducati Diavel V4	Cruiser	$31,295
Ducati Multistrada V4 RS	Touring bike	$42,995
Ducati Panigale V4	Sport bike	$29,995
Harley-Davidson Road Glide	Touring bike	$34,649
Harley-Davidson Sportster S	Cruiser	$18,699
Harley-Davison Street Bob 114	Cruiser	$20,299
Honda Africa Twin	Touring bike	$17,499
Honda CRF300L Rally	Dual sport	$7,999
Honda CRF450R	Dirt bike	$11,799
Honda Gold Wing	Touring bike	$28,999
Husqvarna FC 250	Dirt bike	$12,099
Indian Scout	Cruiser	$14,299
Kawasaki Ninja 400	Sport bike	$7,099
Kawasaki Vulcan S	Cruiser	$8,699
KTM 250 SX-F	Dirt bike	$11,999
KTM 890 Adventure R	Adventure bike	$16,499
KTM 990 Duke	Naked bike	$16,299 (selling price)
Moto Guzzi V85 Strada	Touring bike	$14,390
Moto Guzzi V7 Special	Naked bike	$11,990
Piaggio MP3 530	Scooter	$13,595
Royal Enfield Himalayan	Adventure bike	$7,699
Suzuki Boulevard C50	Cruiser	$11,549
Suzuki RM-Z450	Dirt bike	$12,249
Suzuki V-Strom 800DE	Adventure bike	$13,999
Triumph Bonneville T100	Cruiser	$12,195
Triumph Street Triple	Naked bike	$11,945
Vespa GTS 300	Scooter	$8,295
Yamaha MT-09	Naked bike	$13,499
Yamaha Tenere 700	Adventure bike	$13,999
Yamaha Tracer 9	Touring bike	$15,799
Yamaha YZ250F	Dirt bike	$10,799
Yamaha YZF-R1	Sport bike	$24,499

Representative example: Logan finances a motorcycle

Now that he has an M Class license, Logan, a resident of Ontario, can ride a motorcycle. First, though, he needs to buy a bike. After doing some research, Logan heads to a nearby dealership, where he finds a 2025 Honda CB500F priced at $9,166. Logan makes a down payment of $1,000 and heads to his local bank to get motorcycle financing to cover the remaining $8,166.

Loan type	Auto loan (term loan)
Loan amount	$8,166.00
Interest rate (APR)	4.99%
Loan term	3 years
Additional fees	None
Monthly payment	$244.71
Total loan cost	$8,809.40

How to choose a motorcycle loan

Ready to finance a dirt bike or motorcycle? Keep the following factors in mind when comparing your motorcycle financing options.

Loan amount

Check the minimum and maximum loan amounts set by lenders when comparing your motorcycle financing options, and only borrow as much as you need. A 10%–20% down payment is a common requirement with many lenders. Saving a bigger down payment will reduce the amount of interest you pay over the life of the loan and also increase your chance of getting approved.

Loan term

Motorcycle loans typically have terms of up to seven years, but longer terms may be available depending on the model you’re buying. A shorter loan term means a larger monthly payment, but it also means you’ll pay less interest over the life of the loan. You can use our monthly payment calculator to see how the length of your loan term affects your monthly payment.

Secured or unsecured

Secured loans use your motorcycle as collateral to protect the lender in case of default, and you may be able to qualify for a better rate with a secured loan. Unsecured loans do not require any collateral.

Interest rate

Your interest rate is determined by your credit score, financial situation and whether you choose a fixed or variable loan. Variable rates fluctuate with the prime lending rate (which may go up or down at any given time), while fixed rates are set for the life of the loan.

Fees

Lenders may charge origination and admin fees, while NSF and late payment fees may also apply. Read the fine print and terms of your loan before you sign on the dotted line, and use the APR (annual percentage rate) when comparing financing options to get a better idea of how fees will affect the total loan cost.

Repayment flexibility

Can you make extra payments and pay back the loan early? One way to bring down interest on your loan is to make extra payments when you can afford it. If you feel like you’ll be able to pay back the debt early, make sure your lender allows this and won’t charge any prepayment fees.

Can you get motorcycle loans with bad credit?

Bad credit doesn’t have to stop you from getting a motorcycle loan—at least, not with every lender. Traditional lenders like banks and credit unions typically require a good to excellent credit score (660 or higher), so you’ll need to look elsewhere for motorcycle or dirt bike financing for bad credit.

But you may be able to qualify if you apply for dealership financing or with an alternative lender. Lenders who offer bad credit motorcycle loans will consider your income and employment situation when assessing your loan application. Bad credit loans come with higher interest rates, and the lender may also require a larger down payment.

Is used motorcycle financing available?

Yes, it is. Many lenders offer financing for used bikes, but there will typically be age limits—for example, the bike you’re buying cannot be more than 10 years old.

Used bikes tend to be cheaper than new ones, so you may only need to apply for a smaller loan amount. You can also expect shorter maximum loan terms, and used motorcycle loans often come with slightly higher interest rates.

How much will your motorcycle loan cost?

Your payments should not only fit within your short-term monthly budget but also within your long-term financial plans. Before you apply for motorcycle financing, think about what you can realistically afford. Smaller payments will stretch out the length of the loan, while a shorter loan term will make your monthly payments larger.

Use the motorcycle loan calculator below to work out the total cost of financing.

Am I eligible for a motorcycle loan in Canada?

Eligibility criteria vary between lenders, but to qualify for motorcycle financing, you will generally need to:

• Be at least the age of majority in the province or territory in which you live (either 18 or 19 years old)
• Be a Canadian citizen or permanent resident
• Have a good to excellent credit score, ideally at least 660
• Provide proof of income

Although it’s really helpful to have a good credit score, you still have loan options even if your score is low.

How do I apply for motorcycle financing?

Most lenders in Canada will require the same basic information no matter what type of loan you’re applying for. Check with your lender for an exact list of the information you need to apply for a loan, but you will generally need to provide the following:

• Social Insurance Number (SIN card) and valid government-issued photo ID
  Example: driver’s licence, passport or permanent resident card
• Personal information
  Example: phone number, home address, proof of residency (utility bill, phone bill, bank statement etc.)
• Employment details and income information
  Example: your most recent pay stub or employment tax forms along with your Notice of Assessments from the last two years
• Assets, debts & liabilities and any other financial details
  Example: investments, real estate ownership, other loans including student loans, credit card debt
• Registration details of the bike you intend to buy (this can be obtained from your dealership unless it’s a private sale)
  Example: make, model, VIN, dealership information and your driver’s licence, among other pieces of information.

What other costs will I need to consider when buying a motorcycle?

The cost of a motorcycle isn’t limited to the purchase price. You’ll have to consider how much it costs to use your bike on top of the upfront costs.

Insurance

Every Canadian province requires motorcyclists to purchase insurance that covers third-party liability, accident benefits and uninsured automobile coverage. If you’re riding a dirt bike anywhere other than your own private property, there’s a good chance it will need to be insured too. You also have the option of purchasing additional coverage for events like theft, fire and other natural disasters.

Motorcycle insurance is not the same as car insurance and must be purchased separately. Compare insurance options from multiple companies and remember to factor this cost into the purchase of your bike. The cost of your policy can vary greatly based on which province you live in, with some policies differing by as much as $1,000 or more!

You’ll be charged a higher rate if you’re young and/or riding a more powerful bike. Besides your location, other factors affecting the cost of your insurance policy include:

• Age
• Gender
• Marital status
• Driving record
• The length of your commute
• Any additional coverage you choose to purchase beyond mandatory insurance in your province

Licensing and registration

Motorcycle licence costs vary by province, ranging from under $100 to several hundred dollars in total (Saskatchewan charges $1,500 for a full motorcycle license, but the fee is waived if motorcyclists show proof that they completed a government-approved training course). You’ll need to register your motorcycle with your provincial ministry of transportation. In most provinces, registration usually costs around $50 to $100. There may be other fees for renewing your licence, getting a new plate and other incidentals.

Provinces have different laws on how much time you have to register ownership of your vehicle after purchasing it, so make sure you know how much time your province allows and be sure to register before then.

Riding gear

You can’t go out on a motorcycle in just flip flops and shorts. To remain safe while out on the road, you’ll need to pay for gear. Helmets, leather jackets and sturdy boots are all part of the cost involved with getting a motorcycle.

The total cost of these items may surprise you, but it’s not unusual for bikers to spend between $800 and $2,000 on a helmet, jacket, pants, boots and gloves, even when they’re just getting started.

Related: How to buy a motorcycle

Should I lease or buy my next motorcycle?

It depends. It comes down to your financial situation and your ability to manage a loan. Leasing is essentially a long-term rental agreement in which you only pay for the amount of value the vehicle is expected to lose by the time the lease is up. Warranties usually cover a lot of the maintenance, and you can swap the motorcycle for another good vehicle when the lease is up.

If you buy a motorcycle, you are responsible for the full purchase price of the bike plus all maintenance costs, so your monthly payments are higher. The trade-off is that you will eventually pay off the bike and not have to make any more payments (unless you get a new bike worth more than the value of your old one).

Are you willing to make never-ending payments on a motorcycle to be spared the costs and trouble of being a bike owner? Or, do you think the promise of a future without loan payments is worth making higher monthly payments for a few years and risking higher maintenance costs?

Bottom line

Motorcycles are a great way to get out on the open road or off the beaten track, but many models cost more than a lot of riders can reasonably afford out-of-pocket. If this is the case for you, there are several motorcycle and dirt bike financing options to consider, including options for bad credit. Compare your loan options to see what kind of terms are available.

Frequently asked questions

• How long can motorcycles be financed?

  Motorcycles can typically be financed for up to seven years. The loan term you're offered will depend on the loan amount and your personal financial situation.

• I was offered 0% motorcycle financing. Is this legit?

  It could be. Zero-percent financing offers are sometimes available from motorcycle dealerships and manufacturers. While 0% interest sounds tempting, always read the fine print and compare your options. Learn more about 0% financing.

• Can I get a loan to buy a scooter?

  Yes, lenders offer scooter financing. These loans are typically unsecured, meaning the scooter won't be used as collateral.

• What is a good monthly payment for a motorcycle?

  The definition of a "good" monthly payment will depend on factors like your income, existing debts and how much you borrow. Lenders will determine your motorcycle loan interest rate based on factors like your credit score, income and employment—the higher the rate, the larger your monthly payment will be.

  Your loan term will also affect monthly amounts on motorcycle payment plans. Choosing a longer loan term will reduce your monthly payment, making it easier to budget for, but it also means you'll pay more interest in the long run. Use the motorcycle loan calculator in this guide to work out how much you can afford to pay each month.

• Where can I get motorcycle financing in Alberta?

  You can apply for a motorcycle loan across Alberta, including Calgary and Edmonton, from several sources. To pay for your new bike, compare and choose lenders through a loan search platform, apply for dealership financing, get a motorcycle loan from a bank or credit union or use a personal loan.