How Do I Get ATV Financing?

Jeremy Laukkonen

The process of financing an all terrain vehicle (ATV) purchase is similar to that of obtaining any other personal loan. Many of the same factors that you deal with when applying for a car loan can also affect ATV financing, such as your personal credit history, the amount you have for a down payment and your monthly income. Most lending institutions that offer small personal loans can be used for financing an ATV, though dealerships and original equipment manufacturers (OEMs) typically offer credit as well. If you have no financial issues, it is usually not difficult to obtain ATV financing, though you may need to be a little more creative if you have poor credit or other problems. One way to successfully obtain ATV financing with bad credit is to save up a larger down payment or look at less expensive used models, though you can sometimes find specialized powersport lenders that deal in higher risk loans.

A wide variety of institutions offer ATV financing.
A wide variety of institutions offer ATV financing.

A wide variety of institutions offer ATV financing, and if you have a good credit history, most of them should be open to you. In order to get the best interest rate and lowest monthly payments, you might want to shop around before you buy your new ATV. Independent lenders and banks both offer various loans that are structured for monthly repayment, just like a smaller version of a car loan. One factor to investigate is whether a loan is secured or unsecured, since secured loans require you to put up some type of collateral. This can result in a lien being placed on whatever you use to secure the loan.

A good credit history will be helpful in obtaining ATV financing with a low interest rate.
A good credit history will be helpful in obtaining ATV financing with a low interest rate.

All terrain vehicle dealerships and manufacturers also offer financing, so that is another option to explore. Dealership financing can be very convenient, since in many cases it is possible to fill out the necessary paperwork at the same time you take possession of your ATV. If you have a bad credit rating, or lack a sufficient down payment, some dealerships will also be willing to work with you. Even if your personal credit history represents too large a risk for their lending program, they may be able to point you toward another powersport lender that can provide you with financing.

Some original equipment manufacturers also offer special credit cards that can be used for purchases from only that particular OEM. If you have a particular make of all terrain vehicle in mind, then this may be a good type of ATV financing to look into. These cards are typically structured similarly to other credit cards, in that you can make additional purchases after you buy your ATV. The other difference between private label credit cards and traditional installment loans is the way they appear on your credit history. Unlike traditional installment loans, these cards will look like a credit card that has been maxed out.

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Discussion Comments


Or consider this -- a great SUV can be had for $8,000 or less. Why not save up for one rather than financing one and paying interest on a loan that, in the scheme of things, isn't all that large.

Americans have gotten far to willing to jump into debt. That's a terrible trend.

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