Motorcycle Loan Calculator – This Motorcycle Payment Calculator Will Make It Easy To Calculate Your Monthly Payment

The below motorcycle loan calculator will estimate your monthly payment under different assumptions. It will also provide you a complete amortization schedule.

If you are familiar with how to use a payment calculator then scroll down and start calculating. If you are not familiar, below the calculator you can find the definitions of each input to help you get the best results out of the calculator.

ATV and Motorcycle Loan Calculator

How to Use The Calculator

Motorcycle Price: This is the total amount of money you will finance with your bike purchase. It should include the cost of the bike including accessories, extended warranty and other add-ons. It should not include taxes.
Down Payment: If you have cash to put down with your purchase, it goes in this cell. This should not include money received from your trade-in filled in below.

Trade In: If you are trading in your current motorcycle this is the amount of money the motorcycle dealer is giving you for trading in your current motorcycle.

Owed on Trade:    If your trade-in from above has a loan on it, you will enter the payoff amount of the loan in this cell.  For instance, if your trade-in motorcycle has a remaining loan of $5,000, then you would enter $5,000 in this cell.

Interest Rate: This is the Annual Percentage Rate (APR) on your loan, quoted as a percentage. (i.e. 3.99%)

Term (months): This is the number of month you will finance your bike. The average motorcycle is financed about 4 years or 48 months. However, extending the term can lower your monthly payment.

Sales Tax Rate:  This is the sales tax that will be applied to your motorcycle purchase.

Start Date: This is the date of your motorcycle purchase.

Other Consideration Before Financing a Motorcycle

One item to watch out for when financing a bike is the situations where the finance lender includes fees into the interest rate. In these situations you must either back out the fees from the rate or ask the finance lender what the APR is without the administrative fees included in the rate. Since backing out the fees from the rate is a complex calculation, it is much simpler to ask for the APR without administrative fees.

If you are planning to get financing from a bank, always verify the numbers before you sign the contract. Many times banks add in hundreds of dollars in hidden fees. This fools most people because it only increases the payment slightly since the extra hidden fees are amortized over a typical 60 month term. Nonetheless, you are still paying for extra hidden fees and interest on those hidden fees.

If you suspect a bank is adding in extra fees then before you sign the contract simply tell the bank you want a photo copy of the contract and that you will return in a day or two to finalize it. Then take the copy home and find an online calculator to check the numbers. If you find errors or do not trust the bank do not use it.

Many people prefer to ignore banks altogether when getting a loan. The reason is that there are a variety of great national motorcycle lenders online where it is easy to access a motorcycle loan calculator and at the same time get great low interest rates.