How to Finance a Harley with Bad Credit: Your Guide to Getting Approved

So you want to buy a Harley-Davidson motorcycle but have bad credit? Don’t worry; you’re not alone. A lot of people find themselves in this situation. The good news is that it’s still possible to get approved for a Harley loan, even with less-than-perfect credit.

In this blog post, we will walk you through the process of getting approved for a Harley loan, no matter your credit score.

How to Finance a Harley with Bad Credit Your Guide to Getting Approved

What to do if you have bad credit?

If you have bad credit, there are a few things you can do to improve your chances of getting approved for a loan:

Get a cosigner

A cosigner with good credit can help you get approved for a loan. If you don’t have anyone who can cosign for you, consider getting a co-applicant with good credit.

Apply for a loan with a credit union

Credit unions are known for being more lenient when approving loans for people with bad credit. If a bank has denied you, try applying for a loan with a credit union.

Choose a less expensive motorcycle

If you’re dead set on buying a Harley, you may have to lower your expectations and choose a less expensive model. A used Harley may be a better option for you, as they are typically more affordable than new models.

Apply for a secured loan

A secured loan is one where you put up collateral, such as a car or piece of property, to secure the loan. This can improve your chances of getting approved.

Related Article -   Harley Davidson Tour Packs - Which One is Right for You?

Find a lender that specializes in bad credit loans

There are many lenders out there who specialize in giving loans to people with bad credit. These lenders may be more likely to approve you for a loan than a traditional bank.

What NOT to do if you have bad credit

There are also a few things you should avoid doing if you want to get approved for a Harley loan with bad credit:

Don’t apply for too many loans

Every time you apply for a loan, your credit score is impacted. If you apply for too many loans in a short period of time, it will look like you’re desperate for money and are at a higher risk of defaulting on the loan.

Don’t lie on your loan application

It may be tempting to fudge the numbers on your loan application, but don’t do it! Lying on a loan application is considered fraud and can result in criminal charges.

Don’t give up

If you get denied a loan, don’t give up! There are many lenders out there, and you may just need to find one willing to work with you.

How to improve your credit score?

If you’re looking to improve your credit score, there are a few things you can do:

Check your credit report for errors. You can get a free copy of your credit report from each of the three major credit bureaus every year. Check it for any errors that could be dragging down your score.

Make all of your payments on time. This includes credit card payments, utility bills, student loans, etc.

Keep your credit card balances low. High credit card balances can hurt your score. Try to keep your balances below 30% of your credit limit.

Use a mix of different types of credit. A combination of different types of credit, such as revolving credit (credit cards) and installment credit (car loans), can help your score.

Keep old accounts open. Closing old accounts can hurt your score.

Related Article -   The Best Auto Tuner For Harley Davidson: Buying Guide

Following these tips can improve your chances of getting approved for a Harley loan, even with bad credit. So don’t give up on your dream of owning a Harley just because you have bad credit. There are still options available to you.

The best Harley-Davidson loans for people with bad credit

If you’re looking for a loan to finance your Harley, here are a few options to consider:

Capital One

Capital One offers loans specifically for people with bad credit. They have a quick and easy application process; you can check your rate without affecting your credit score.

OneMain Financial

OneMain Financial offers loans for people with harmful to fair credit. They have a quick and easy application process, and you can get your money as soon as the same day you apply.

Avant

Avant offers loans for people with harmful to fair credit. They have a quick and easy application process, and you can get your money as soon as the next day.

These are just a few lenders offering loans for people with bad credit. By doing your research, you can find the right lender for you and get approved for the loan you need to finance your Harley.

Other ways to finance a Harley-Davidson motorcycle

If you’re having trouble getting approved for a loan, there are a few other options to consider:

Harley-Davidson’s Rider-to-Rider financing program

This program allows you to finance your Harley through another rider. The terms and conditions vary depending on the person you’re financing, so read them carefully before you agree to anything.

Harley-Davidson’s Freedom Promise program

This program allows you to finance your Harley with no money down and no interest for 60 days. After that, you can either pay off the loan or trade your motorcycle for a new one.

Harley-Davidson’s Custom Chopper financing program

This program allows you to finance your custom chopper through Harley-Davidson. The terms and conditions vary depending on the dealer you’re financing, so read them carefully before you agree to anything.

Frequently Asked Questions

What credit score do you need for Harley Davidson?

You need no set credit score to get approved for a Harley Davidson loan. However, the higher your credit score is, the better your chances of getting approved.

Related Article -   Is Harley Davidson Maintenance Expensive?

What is the lowest credit score to buy a motorcycle? 

If you’re thinking about financing a Harley, you might wonder what the lowest credit score to buy a motorcycle is. The answer is that there is no one-size-fits-all answer to this question. Every lender has its criteria for approval, and your credit score is just one factor they’ll consider.

You’ll likely need a credit score of at least 650 to qualify for most motorcycle loans. If your credit score is below that, you may still be able to get approved for a loan, but you may have to pay a higher interest rate.

If you’re unsure what your credit score is, you can check it for free on sites like Credit Karma. Once you know your score, you can start shopping around for lenders who will be willing to finance a Harley with bad credit.

Does Harley Davidson have good financing?

Harley Davidson has good financing options, even for people with bad credit. They offer a number of different financing programs that can help you get approved for a loan.

One of the best things about financing through Harley Davidson is that they offer a pre-qualification process. This means you can see what kind of loan terms you qualify for before filling out a loan application.

Is it easy to get approved for a Harley?

Getting approved for a Harley can be easy if you have good credit. However, if your credit is less than perfect, you may still be able to get approved by using a cosigner or by applying for a subprime loan.

Final Words

If you have bad credit and you’re wondering how to finance a Harley, don’t worry – it is possible. Several different financing options are available, even for people with less than perfect credit. Talk to a lender about your options and see what kind of loan terms you qualify for. You may be surprised at how easy it is to get approved for a Harley with bad credit.

Happy riding!

By Jacob - The Rider

Hi, my name is Jacob. I'm the founder of Backyard Rider Mag - a blog about motorcycles. I've studied engineering in college but decided to make blogging my career because it really aligned with what I wanted to do creatively - talk about bikes! I've been riding for 16 years now- everything from sportbikes to cruisers, dirtbikes or even dual sports. And after all these years on the road, there are still new bikes that excite me just as much as when I first started riding.

Leave a comment

Your email address will not be published. Required fields are marked *