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Almost 4 in 10 Consumers Now Finance Their Bikes, Says MIC

FORT WORTH, Texas — The number of consumers financing at least a portion of their motorcycle purchase has grown to 39% this year, from 33% in 2014, Motorcycle Industry Council President Tim Buche told attendees at PowerSports Finance 2018.

Among those customers, half financed new vehicles and 25% financed used, according MIC data.

By segment, touring bikes are most often financed, at 52%. Cruisers and sportbikes followed, at 39% and 38%, respectively. Only 17% of traditional bike buyers financed a portion of their purchases, according to MIC.

Through September, 16% of consumers have used credit cards to finance their purchases, compared with 26% in 2014, Buche said. Credit cards were most often used for traditional bike purchases and least often used for cruisers.

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As Associate Editor of Powersports Finance, Matt Wood reports on the latest developments and trends of the powersports finance world, from innovation to new partnerships. He's also a movie/TV show buff and is willing to argue about Lost anytime. Former bylines include Scout Media and CinemaBlend.

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