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.