New & Used ATV Loans

ATV financing is similar to financing a car or motorhome. You’ll get a loan term, from 12 to 72 months, where you pay off the cost of your ATV in monthly installments, plus interest and any fees. When you consider financing an ATV or motorcycle, take advantage of Mountain America's flexible lending period, as long as 72 months (or 6 years).³ So, when calculating the monthly note for a motorcycle or ATV, factor in:

• The total cost of the vehicle
• The monthly fixed interest rate—loan calculators can help you crunch the numbers (generally, the higher your credit score, the lower the interest rates on your purchase will be)
• Divide those totals by the number of months you wish to finance

Even if you are more comfortable making the terms on a recreational vehicle for a long period of time, as long as you have a low fixed interest rate, you are still paying more on the premium than in interest. Further, there are no penalties for paying above the minimum amount due, which could help reduce the amount paid in interest.

Banks and credit unions offer conventional ATV loans for fixed periods of time, typically between 3–6 years, with fixed annual percentage rates. The APR will depend on your credit score, the loan term, ATV cost and the organization that is financing the loan.

Some financial institutions may also offer revolving loans. These loans are often easier to qualify for and have lower monthly payments. However, a lower payment means it takes much longer to begin paying down the principal on the loan. Additionally, a variable interest rate may mean your rate could go up or down during the loan period.

This is why conventional loans tend to make better financial sense for ATV owners, because the interest rate is locked in for the duration of their loan term and the owner knows when they’ll pay it off.