Nov 08, 2023

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Man fixing a motorcycle on side of road

While Discover® does not offer auto loans, there is more to motorized transportation than cars, just like there are many ways to use a personal loan. It’s no secret that personal loans are a valuable financing option for life’s large expenses or debt management. So, if you’re considering alternative motorized transportation, be sure to check out your various loan options, and don’t forget to pay attention to the APR, repayment terms, and other fine print. And while we can’t help finance your car, there are lots of other transportation-related expenses we may be able to help with.

A motorcycle loan option

You’ve taken the safety courses, updated your license, and spent a lot of time cruising the showrooms or window-shopping: You’re in the market for a motorcycle.

Though some motorcycles may be cheaper than even the least expensive economy cars, a beginner bike (plus the personal protective gear to go along with it) might cost more than the cash you have on hand. Or, you may not want to drain your emergency savings

As you think about the necessary expenses, you may want to build in additional funds to cover the extras that may go along with motorcycle ownership, such as:

  • Helmets for yourself and a passenger
  • Other safety gear, including jackets, shoes, gloves, and more
  • Cold-weather and wet-weather gear
  • Routine maintenance
  • Insurance coverage — whether pre-paying for your bike or adding coverage to your existing policies

It can all add up quickly, but with an effective bike-buying budget in place, you could apply for a personal loan that’s sized to include everything you need for your motorcycle.

An RV loan option

Is it a truck? A house? Both? Some RVs (recreational vehicles) may not be as expensive as a typical home, but large or luxury-outfitted RVs can cost as much as $140,000.1 And the costlier the RV, the longer the loan terms can be, sometimes stretching into mortgage-range territory with 10 or more years.2

Whether your goal is to pick up roots and take to the open road permanently or to have a little motorhome for weekend camping and festival trips, an RV loan could be a serious commitment.

Owning an RV may also covering several additional costs:

  • Insurance
  • Cleaning fees
  • Parking fees, slip rentals, and campground fees
  • Maintenance
  • Typical daily living expenses
  • Utilities

A personal loan for your extra RV-related expenses can help defray the costs of your new road warrior lifestyle.

Financing other recreational vehicles

Nature and outdoor enthusiasts know all too well the costs of their outdoor gear—which can often include some kind of vehicle.

Here are some vehicles for which a personal loan can provide purchasing power:

  • Boat financing is often a barrier to entry for water enthusiasts, but a personal loan can help with paying for a boat and other major expenses
  • ATVs make for hours of fun blazing new trails, but the hard, off-road usage means a lot of maintenance. You can build those costs into ATV financing with a personal loan.
  • Motor scooters. City dwellers may be keen to zip around on these. They’re less costly and create less pollution than motorcycles, but require similar gear considerations.
  • Electric bikes. E-bikes are taking off in popularity, and while auto financing won’t cover them, a personal loan might.

Secondary and recreational vehicles can be costly whether you’re seeking alternative transportation or exploring a hobby, but a personal loan from Discover can put you in the driver’s seat as an alternative to traditional auto lending options.

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 alternative transportation and get your dream rolling.

Estimate Payments

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