Jun 24, 2025
While auto loans—which are typically secured loans—help you finance your car or truck, you may find yourself considering other vehicles, or you may be faced with vehicle-related expenses. And an unsecured personal loan may suit some of your related financial needs.
The options for financing these vehicles and their expenses also vary. You may take out a secured loan, which typically means you use the vehicle as collateral. Or you can opt for a more flexible unsecured personal loan, which sends you a lump sum to be used for almost any purpose you want.
An unsecured personal loan does not require collateral and can be a valuable financing option for many of life’s large expenses. So if you are thinking about taking out a motorcycle loan, an ATV loan, or a loan for any type of vehicle expense, you could also check out the personal loan options available to you. Be sure to pay attention to the annual percentage rate (APR), repayment terms, and other fine print.
Continue reading to learn about loan options for your alternative vehicles and their related expenses.
You’ve taken the safety courses, updated your license, and spent a lot of time cruising the showrooms or window-shopping. Now you’re ready to get your motorcycle and hit the open road.
Some motorcycles may be cheaper than even the least-expensive economy cars. But a beginner bike, plus the cost of the personal protective gear to go along with it, might cost more than the cash you have on hand.
As you think about the expenses involved, consider building a budget for additional gear and costs:
Is it a truck? A house? Both? Some recreational vehicles (RVs) may not cost as much as a typical home, but large or luxury-outfitted RVs can cost between $40,000 and $1.5 million. The costlier the RV, the longer the loan repayment terms might be. Most RV loans last between five and seven years but loans for larger models can go as long as 20 years.
Whether your goal is to pull up roots and take to the open road permanently or to have a small motor home for weekend camping and festival trips, an RV loan may be a serious commitment. Owning an RV may also involve covering additional costs:
All-terrain vehicles (ATVs) can make for hours of fun blazing new trails and off-road racing. Or these versatile vehicles can be used for work, such as inspecting crops, herding livestock, or supervising field crews. Whatever the reason you might invest in an ATV, the hard, off-road usage can mean a lot of maintenance.
You can expect to pay between $2,000 and $15,000 or more for a new ATV, but there are additional expenses to consider on top of the purchase price:
If you’re in the business of hauling heavy equipment or supplies to locations that a truck can’t easily reach, you may be in the market for a utility task vehicle (UTV). Also known as side-by-sides, UTVs are built with larger engines, sturdier bodies, and more capacity than standard four-wheelers.
A new UTV can cost anywhere from $3,600 to well over $30,000. Also, think about budgeting for other expenses that could come with owning a UTV:
There are many types of boats and many reasons to desire one. You may want a fishing boat for a lazy day on the river, a cabin cruiser for an extended trip, a pontoon boat for lake parties, or a jet ski for watersports.
Whatever your reason, when it comes to buying a boat, you have no shortage of options. There is an equally wide range of price options, which can run from a few hundred dollars for a small fishing boat to millions of dollars for a yacht. Owning any type of boat can come with additional expenses:
Outdoor enthusiasts know that related gear can be expensive. When vehicles are added, the costs can climb substantially. Here are two options for either country or urban living that can be financed with a personal loan.
City dwellers may be keen to zip around on these. Many motor scooters are less costly and create less pollution than motorcycles, though they have similar gear requirements. Still, the cost of a new motorized scooter can range from a couple of hundred dollars to more than $7,000.
E-bikes appeal to riders of any age. Great for commuting, some models can also be used for off-road adventures, for long distances, or in hilly terrain. The price of an e-bike can range from less than $1,000 to more than $10,000 for high-end versions, and while auto financing won’t cover them, a personal loan might.
Whether you’re seeking other modes of transportation or exploring a hobby, any type of vehicle can be costly.
Some types of loans use the value of the vehicle as collateral to secure the loan and help guarantee repayment. The value of the asset may need to be equal to or exceed the amount you request to borrow. Loan approval may take longer, as the value of your collateral needs to be verified.
An unsecured personal loan from Discover, however, could be used in almost any way you choose. The lump sum could help you pay for both a vehicle and related expenses—so you can get the most utility out of your new purchase. Most people get a decision the same day, while funds can be sent as soon as the next business day after your acceptance.
Our personal loan calculator makes it easy to estimate your monthly payments based on your desired loan amount and credit score. That way you can budget for your transportation and get your dream rolling.
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