leasing for motorcycles

Leasing for motorcycles: Is it worth it?

Similar to auto leases, motorcycle leases allow you to get a bike without any loans. However, leases do not give you ownership of the vehicle at the end of your lease.

What is a motorcycle lease?

Motorcycle leases are similar to car leaves, but are not as common. In fact, many motorcycle dealerships do not even have leasing programs. So, if you are looking to lease a motorcycle, inquire at each dealership to see if they offer leasing. For example, in the Harley-Davidson dealer world, some shops will offer leasing and others will not.

Like other types of leases, motorcycle leasing requires you to make monthly payments over a set period. This is different from buying a motorcycle, because, at the end of your lease, you will not have ownership of the bike.

Leasing is not for everyone though. Even if you do not have good credit, you may be able to qualify for motorcycle leasing, but the trade-offs are not always worth it. Often, with less-than-perfect lease terms, such as high interest rates and large down-payments if your credit score is not great. 

Find out if motorcycle leasing is right for you:

leasing for motorcycles

Motorcycle lease deep-dive

Leasing lets you drive the bike, without ever buying it. It is important to note that at the end of your lease, you have a few options, including renewing the lease, buying the bike, returning it or trading it in for a new one. 

Typical motorcycle leases last anywhere between 18 to 60 months. Leases will cover new and used motorcycles. Below are some other important details you need to know before deciding to lease a motorcycle:

  • Cost: Leasing a motorcycle can be expensive. Often, a 10% to 20% down payment is needed and interest rates vary depending on your credit. In most cases, the better your credit, the better terms you will get.
  • Availability: Motorcycle leases are very uncommon in the U.S., so it may be hard to find a dealership that offers them.
  • Mileage: Where motorcycle leases differ from auto leases is in mileage requirements. Auto leases often have mileage restrictions, whereas typical motorcycle leases do not.

Is a motorcycle lease right for you?

Motorcycle leasing is not for everyone. If you have the money to buy a bike outright or have a great credit score, buying may actually save you money. 

However, if you have credit challenges or are rebuilding your credit, leasing can be a great option. But, be aware, that you may be facing high interest rates and large down payments. 

Leasing is also great if you prefer to switch up the bike you ride often, or plan on putting a lot of miles on the bike – especially since most lease programs have no mileage restrictions. 

Before deciding to lease, think about your lifestyle and personal finances to see if leasing a motorcycle works for you lifestyle.

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