Powersports loans: Finance your next ATV, boat, motorbike & more

From motorcycles and dirt bikes to ATVs, snowmobiles and jet skis, powersports vehicles let you explore all sorts of terrain. But these adventure machines often don’t come cheap, so you might need powersports financing to help you get behind the wheel (or handlebars) of your next vehicle.

But where can you get a powersports loan, what rates and terms can you expect, and is bad credit powersports financing available? Keep reading to find out.

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Product CAFCL	Ratings	APR Range	Loan Amount	Loan Term	Requirements	Broker Compliance
My Auto Approval Powersport/RV Loans	Not yet rated	0% - 35.00%	$50,000 - $5,000	3 - 60 months	Requirements: Min. income of $1,800 /month, 3+ months employed	My Auto Approval is a loan search platform. Get matched with a suitable dealer based on your credit history and borrowing requirements.	Go to siteMore Info Compare	loading Fetching your data...
LMG Finance Powersport Vehicle Loan	Not yet rated	Undisclosed	Varies	Undisclosed			Compare	loading Fetching your data...
Financeit Powersport Vehicle Loan	Not yet rated	8.99% - 14.99%	$500 - $100,000	Undisclosed			Compare	loading Fetching your data...
RBC Powersport Vehicle Loan	Not yet rated	Varies	$7,500 - No max.	1 – 8 years			Compare	loading Fetching your data...

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What are the interest rates of powersports loans?

Powersports financing interest rates in Canada can be as low as 0% and as high as 29.99%. You’ll typically need strong credit to qualify for a 0% financing offer, and you’ll need to check the fine print for details of any limits or fees that may apply.

The interest rate you get will depend on factors such as your credit score, income and employment situation, and debt-to-income ratio. If you have bad credit, you’ll only qualify for a high interest rate.

How to get powersports financing

There are three options to consider if you’re searching for a powersports loan in Canada.

1. Through a loan search platform

My Auto Approval and other loan search platforms let you compare and choose powersports loan offers from multiple lenders. Each platform works with its own network of lenders, allowing you to fill out a single application and get matched with loan offers from those lending partners.

Loans for good and bad credit are available, while terms and repayment schedules vary depending on the lender you choose. You can typically apply and get approved within 48 hours, and loan amounts of up to approximately $75,000 are available.

2. Through your dealership

Applying for a powersports loan at the dealership is a quick and convenient financing option. Dealerships are partnered with banks, credit unions and alternative lenders to provide a one-stop shop when you want to buy and finance a powersports vehicle.

Dealership financing offers loans for buyers with good or bad credit, and you can take advantage of special promo interest rates and discounts. Zero-interest financing may be available on specific models for a limited period of time, but you’ll need strong credit to qualify for this type of offer.

3. Directly from a bank, credit union or alternative lender

You can also apply for powersports financing from the financial institution of your choice.

Traditional lenders like banks and credit unions offer some of the lowest fixed interest rates around, but their strict eligibility requirements mean you’ll need good to excellent credit to qualify. Credit unions also focus on a specific region, so you may need to be a resident of a specific province and become a credit union member to qualify. Terms of up to 7 or 10 years are available, but longer loan repayment periods are available if you’re buying an RV.

Alternative lenders tend to have more lenient eligibility requirements. This means you may be able to qualify for bad credit powersports financing, but your loan will come with a higher interest rate. Online lenders also tend to offer quicker approval and funding than banks and credit unions.

Can you get powersports financing with no credit?

Yes, it’s possible to get powersports financing with no credit, but not from banks and credit unions. If you apply for dealership financing or from a specialist powersports lender, you may be able to qualify for a loan even if you have a limited credit history.

To increase your chances of approval, make sure you have:

• A steady income. Lenders will assess whether you have sufficient income to afford repayments. Being steadily employed for an extended period will also boost your chances of getting approved.
• No NSF transactions. If you can demonstrate that there have been no NSF transactions on your bank account for six months or more, this will reassure the lender that you can reliably make on-time payments.
• A larger down payment. The more money you have saved to put down upfront, the less you need to borrow and the better your chances of approval.

Can you get powersports financing without a credit check?

You may be able to get no credit check powersports financing from some lenders, but once again you may not be able to get funding from traditional lenders like banks and credit unions.

Some alternative lenders and specialist powersports financing companies may offer no credit check financing. They will instead look at your income and employment situation to decide whether you qualify for a loan.

The downside is that you’ll need to accept a higher interest rate, which could significantly increase your total repayments over the life of the loan. “No credit checks” is also sometimes used as a marketing tactic by scammers and predatory lenders to lure in unsuspecting borrowers, so do your research to make sure you’re dealing with a legit lender.

Can you get powersports financing with bad credit?

Yes, bad credit powersports financing is available—but not from all lenders.

Unless you have a good to excellent credit score (around 660 or higher), you likely won’t qualify for financing from a bank or credit union. But there are several powersports financing companies and alternative lenders that are willing to offer powersports loans for bad credit.

These lenders will check your employment situation, income and debt-to-income ratio to determine whether you will be able to afford loan repayments. Bad credit powersports financing generally comes with higher interest rates, while the lender may also require a larger down payment before approving your loan.

Types of powersports vehicles you can finance

From on and off-road motorcycles to ATVs, side-by-sides, snowmobiles, jet skis and boats, powersports loans can be used to purchase a wide range of land and marine vehicles. Many lenders also class RV loans as powersports loans. For a detailed look at how RV loans work, check out our full RV financing guide.

To give you an idea of how much you may need to borrow, the table below shows approximate price ranges for popular powersports vehicles.

Financing a new vs used vehicle

Buying a pre-loved motorcycle, ATV, boat or jet ski? The good news is that powersports dealerships and lenders offer used powersports loans. However, there may be a limit on the age of vehicles eligible for financing—for example, the lender may only provide financing for vehicles less than 10 years old.

Used vehicles are generally less expensive than new ones, so used powersports loans have shorter terms. They also come with higher interest rates than if you’re buying a new vehicle, and lenders will often require a larger percentage of the total purchase price as a down payment.

How to compare powersports financing

Keep the following factors in mind when searching for a powersports loan.

Secured or unsecured

Check whether the loan will be secured or unsecured. A secured loan requires you to provide an asset as collateral, such as the powersports vehicle you’re buying. Providing collateral reduces the risk for the lender, so you’ll qualify for a better rate. The downside is that the lender could repossess your vehicle (or whatever assets you provide as security) if you default on the loan.

Loan amounts

Check to see if the lender’s minimum and maximum loan limits suit your borrowing needs. Depending on your financial situation and the lender you choose, you may be required to provide a down payment of 10% to 20% of the purchase price.

Interest rates

Powersports financing interest rates in Canada range from 0% to 29.99%. The rate you qualify for will depend on your credit score, income, employment and financial situation.

Fees

Check the loan agreement for details of any administrative or origination fees that apply. Remember to check the APR (annual percentage rate) when comparing loans—this takes into account the interest rate as well as fees to show you the true cost of a loan.

Loan terms

Maximum loan terms vary between lenders, but terms of up to 20 years may be available for expensive purchases such as RVs. Smaller loans more commonly come with terms ranging from two to seven years. While a longer loan term means a smaller monthly repayment, it also means you’ll pay more interest over the life of the loan.

Repayment flexibility

Check whether you can choose a repayment plan that suits your income frequency. Can you also make extra repayments at any time and pay your loan off early without penalty?

Bottom line

There are multiple powersports financing options in Canada, including options for bad credit. Compare powersports loans to find financing that suits you, and start your next exciting adventure on land or water sooner.

Frequently asked questions

• Is National Powersports Financing legit?

  National Powersports Financing is a powersports lender based in Kitchener, Ontario. Its website lists phone and email contact information along with a physical address, privacy policy and terms and conditions. As of February 2025, National Powersports Financing has an average rating of 4.5/5 from over 570 Google reviews, but it is not Better Business Bureau accredited.

• What National Powersports Financing interest rates are available?

  National Powersports Financing does not list current interest rates on its website. The rate you get for your powersports loan will depend on factors such as your credit score, income, employment stability and debt-to-income ratio. You can prequalify for a National Powersports Financing loan online without affecting your credit score, allowing you to get an idea of the sort of rate you might be able to get.

• What Canada Powersports Financing interest rates are available?

  Canada Powersports Financing does not list current interest rates on its website. The rate you get will be determined based on your credit history, income and employment, and financial situation. Canada Powersports Financing also offers online pre-approvals to give you a better idea of the rate you might qualify for.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio