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Financing a motorcycle and wondering how much you should be paying? The average monthly motorcycle payment may be lower than you think. According to our August 2025 survey of 979 motorcycle owners in the U.S., 49% of those paying off a loan had a monthly payment between $201 and $400. Just 12% paid $401 to $500 per month, and 17% paid more than $500 a month.
How much a motorcycle costs to finance depends on how much you borrow and what your interest rate is, but it’s generally lower than the average car payment. Let’s go over what it costs to finance a motorcycle and what affects your monthly payment.
New motorcycles cost between $6,000 to $15,000, on average, depending on make, model, and style. Although used bikes are often cheaper than new, prices still vary widely.
According to our survey respondents, an acceptable price for a motorcycle falls between $5,000 and $9,027, and 53% said they financed their purchase. Financing a motorcycle lets you borrow money for your purchase and pay it back in monthly installments.
Just like with a car, your monthly motorcycle payment will depend on your loan term, down payment, credit score, interest rate, and whether you buy new or used. For people who financed their new bike, the vast majority (83%) had an average monthly motorcycle payment below $500.
Many borrowers in our survey (37%) chose a three-year motorcycle loan, and 73% put down $5,000 or less. Shorter loan terms and smaller down payments can make your monthly payment go up, while longer loan terms and bigger down payments will make your monthly payment smaller.
According to our survey, most borrowers (45%) had an interest rate of between 6% and 11.99%. Only 27% of borrowers had an interest rate over 12%. Your credit score influences your interest rate, with good or excellent credit scores often securing the lowest rates. The higher your interest rate, the more interest you’ll pay, which can drive up your monthly payment and total loan costs. Lower rates will help you save money on interest and can bring your payment lower.
According to our survey, 61% of respondents bought their bike new, while 39% bought used. New motorcycles tend to be more expensive than used ones, but they may have lower interest rates, which can bring your costs down.
Let’s take a look at an example. Suppose a buyer has a 714 credit score, which is the national average. A 714 credit score is considered “Good” on the FICO credit scoring model, and “Good” was the most common score range reported by our survey of motorcycle owners.
Say our motorcycle enthusiast spends $8,000 on a new bike with a three-year term, an interest rate of 9%, and a down payment of $1,200. That puts their monthly motorcycle payment at $216.24.
If our hypothetical buyer had better or worse credit, it would influence what interest rate they qualify for and change their monthly motorcycle payment. Here’s a quick breakdown on the impact of credit score and interest rate on monthly payment.*
*Sample interest rates are for illustrative purposes only.
Of course, these are all examples. The monthly payment you receive will vary based on your credit history, motorcycle choice, loan term, and down payment selection. Plus, interest rates fluctuate frequently, and can go up or down depending on market conditions.
Ultimately, how much you pay for a motorcycle should depend on your budget. Consider what you can afford before you buy or borrow.
Many of our survey respondents (44%) cited an affordable monthly payment as the main reason for choosing the terms and loan amount for their motorcycle purchase, and most (57%) said they rarely or never stressed about their payment.
However, 42% said their payment occasionally or frequently caused them financial stress or worry. If you want to avoid stretching your wallet too far, make sure your motorcycle payment fits into your monthly budget. And don’t forget to budget for other bike expenses like gas, gear, insurance, and maintenance, too, which can add up.
According to our survey, the most common motorcycle payment amount falls between $200 and $300 per month. If you’re concerned that you’re paying more than the average monthly motorcycle payment or you feel like your payments are too high, you may be able to refinance. Motorcycle refinancing is just like auto refinancing, and it could help you reduce your interest rate or monthly cost. could help you reduce your interest rate or monthly cost.
When you refinance your motorcycle loan, you pay off the old loan with a new one, with new rates and terms. Your new loan may have a lower interest rate or longer loan terms, both of which can reduce your monthly payment. You can see how much you might be able to save with personalized refinance offers from RefiJet with no impact to your credit score.
According to our survey of motorcycle owners, 28% of respondents who financed their bike reported a monthly motorcycle payment between $200 and $300. The majority of payments were below $500 per month.
It depends on your other expenses. Make sure you have room in your budget for your monthly motorcycle payment as well as fuel, maintenance, and insurance. According to our survey of motorcycle owners, the appropriate amount to spend on a motorcycle is between $5,000 and $9,027.
Although the purchase price of a new motorcycle is typically much less than a new car, the cost to borrow (interest rate) on motorcycle loans is often higher. That’s because motorcycles are considered recreational vehicles by many lenders.
You have a few options if your situation has changed. You might be able to sell the motorcycle and use the proceeds to pay off your loan. Or you can keep the bike and refinance the motorcycle loan to get a lower monthly payment. RefiJet helps you quickly compare refinancing offers from multiple lenders.
Terms vary, but you’ll commonly see motorcycle loans with two- or three-year loan terms. Some loans are as short as 12 months and others as many as 72 months. If you’re unhappy with your current loan terms, refinancing could reduce or extend your loan term to something that suits your situation better.
Learn how to get the best auto loan rate with tips on credit, down payment, loan term, and rate shopping before you apply.
