A lot of banks don't finance motorcycles. Good thing we're not a bank.
Affinity is a credit union—a not-for-profit financial cooperative owned by our members that operates for their benefit. So we do things a lot of traditional banks won't, like finance motorcycles. Did you take out a high-interest personal loan to buy your bike? Affinity offers secured motorcycle refinance loans with rates that are typically lower. Looking at used bikes from private sellers? Apply for a quick preapproval, and you'll be ready to close the deal as soon as you see your ride. Buying from a dealer? Before you take their finance offer, submit a quick, no-cost loan application to see if you can get better loan terms from Affinity.
THREE REASONS TO CHOOSE AFFINITY FOR YOUR MOTORCYCLE LOAN
Free 45-day preapprovals let you shop with confidence
Finding the exact motorcycle you want can take time. Preapproval lets you lock in your rate and loan amount, so you're ready to make an offer when you find the right bike.
Competitive rates and terms of up to 72 months1
Today's motorcycles are more advanced—and more expensive. Our low, member-only rates and longer payment terms help make motorcycle ownership more affordable.
No application fees or prepayment penalties
There's no cost to apply for a new, used, or refinance loan – and no penalty if you decide you want to change your ride and pay your loan off early. Plus, we'll give you a 0.25% APR1 rate discount for setting up automatic payments.
HOW TO GET A MOTORCYCLE LOAN FROM AFFINITY
AFFINITY IS MORE THAN JUST AUTO LOANS
Guaranteed Asset Protection (GAP)
Stay financially protected if your vehicle is ever stolen or totaled.
Mechanical Breakdown Protection
Added protection for covered mechanical or electrical failures.
Debt Protection Coverage
Ensure loan payments are made for an unexpected job loss, death or disability.
Auto Insurance Coverage
Get the auto insurance coverage you need at an affordable price.
Frequently asked questions about motorcycle loans
Generally speaking, the answer is the same for any type of vehicle loan. If you can comfortably afford to do so without depleting your savings, you'll save by paying cash instead of financing and paying interest. If that's not the case, a loan can help you afford the new or used motorcycle you want.
It can be more challenging because online lenders and traditional banks may not offer motorcycle loans. Dealers will usually provide financing but don't always offer the lowest rates. But Affinity is a credit union owned by our members, so we offer affordable motorcycle loans as a service to our members who ride.
When comparing the best motorcycle loans, there are three main factors to consider:
- What is the interest rate or APR (Annual Percentage Rate)? The lower the rate, the less you'll pay for interest (and interest-related fees) over the life of the loan.
- What are repayment terms? Basically, how many months will it take to pay back the loan? A longer repayment period will make each monthly payment lower, but you'll spend more over the life of the loan compared to a shorter repayment period.
- How much do you have to put down? Some lenders may require a 20% (or higher) down payment, while others may even offer 110% financing (i.e., giving you $11,000 to buy a $10,000 bike). A lower down payment may be more convenient initially but will result in higher payments each month.
Affinity Federal Credit Union can provide motorcycle financing for:
- Dealer purchases – getting a new or used vehicle from a motorcycle dealership
- Refinancing – to lower your rate or get better terms than your current loan
- Private party – buying a bike from an individual seller
You must be an Affinity Federal Credit Union member and be 18 years of age or older.