Black Gold Harley-Davidson® - News & Blog

Buying a Harley® If You Have Bad Credit

Applying for a Harley® Loan With Bad Credit

"Your request for a loan has been rejected." 

If you've ever heard those words, you're aware of all the feelings that wash over you whenever you consider applying for a loan in the future.

Here at Black Gold Harley-Davidson®, we understand that things happen. Your savings are depleted by sudden emergencies. Relationships end in disaster, and you find yourself overwhelmed by debt. Too many medical bills accumulate. Sometimes you make poor financial decisions, and they stick with you much longer than you anticipated. Most people have a period in their lives when they are simply unable to make ends meet, money does't go as far as they need it to stretch.

Maybe you've talked to credit specialists and they said bad credit follows you for up to seven years. Until your score improves, you're afraid you won't be able to finance much, and if you do, you'll pay an arm and a leg for interest. For a little while, maybe you just tried to stop dreaming.

Then you started to get Harley® fever. Maybe one of your friends got a bike, and you want to join them in experiencing the freedom of the open road. Or

perhaps you went to one of the events here at Black Gold Harley-Davidson® and you fell head over heels in love with one of the bikes on our lot. You want it so bad you can hardly stand it, but you're afraid you won't be able to finance a motorcycle with poor credit. Keep reading my friend. We're about to help make your new Harley® dreams come true.

Getting a Motorcycle Loan - The Basics

Everyone who is older than 18 has a credit score. You have one even if you've never applied for a loan or credit card. It's a three-digit figure that represents your likelihood of repaying loans. These components make it up:

  • Your payment history - Whether or not you pay by the due date on credit cards, your home mortgage loan, retail accounts etc. This is the biggest percentage of your score. It also includes accounts in collections, delinquent accounts and past due items.
  • Length of credit - How long you've had active, open accounts. If you just celebrated your 18th birthday, you haven't yet had a chance to demonstrate how you manage money.
  • Types of credit - Lenders like to see a mix here. If you have a credit card, a house note and a student loan and you pay them all on time, that's good.
  • Credit inquiries - When someone "runs" your credit for the purpose of lending you money, that can damage your score. We won't run your credit to see if you qualify for a motorcycle loan until you authorize it.
  • Debt-to-Credit Ratio - Around 30 percent of your credit score is a comparison between your total debt and your total income.

What Counts as a Bad Credit Score for Motorcycle Loans?

A recent FICO report showed there are more than 68 million Americans who currently have bad credit. Experian says 21.2 percent of Americans have what's called deep subprime credit scores, a.k.a. really, really bad credit. 

Texas has some of the most residents with credit problems. The average Texan has 3.06 credit cards and an average credit card debt of almost $7,000. Bad credit is common. If your credit isn't great you should take steps to improve it, but also know you're not the only one. Here's how it breaks down.

781-850 - Excellent credit

661-780 Good credit

601-660 Acceptable credit

501-600 Poor credit

300-500 Deep subprime credit

You can get a free copy of your credit report once a year from It's a good idea to check every once in a while, because if your credit report contains errors, you can dispute them.

How to Know if You Can Qualify for a Harley Loan With Bad Credit

Come on by our Allen TX Harley® dealership and find the right bike for you, we'll help with the rest. It really is that simple. If you're nervous about it, you can even fill out your loan application online. If you know what payment you're looking for, our website lets you shop bikes by payment

We've been doing this a long time, and we've built unique relationships with lenders. Whatever your situation, we can almost guarantee we've helped riders with worse credit than yours.

If you're looking to buy a new Harley-Davidson® with bad credit, we have a wide selection of 2019 Street, Sportster, Softail, Touring, Trike and CVO models. If it's a used Harley® that caught your eye, our no-hassle financing applies to those too. Talk to our finance team about your situation and we'll help get you on the road not long after you pick out your bike.

How to Buy a Harley® Without Established Credit

What if you're young and you haven't had a chance to build credit yet? We understand that everybody has to start somewhere. 

A Harley® is a great choice when you're just starting to build credit for a number of reasons. First, we'll help you obtain financing. Second, payments help establish your credit history, so as long as you always pay on time, you'll actually be building good credit. Also, when you're just starting to build credit, often money is in short supply. A motorcycle is typically cheaper on gas and insurance than a regular vehicle, so more money stays in your pocket.

Get started when you browse new Harley-Davidson® motorcycles for sale near Dallas or shop our pre-owned inventory online. Then, stop by and see us, we'll send you home on the bike of your dreams.