Powersports vehicles are very popular in the Pacific Northwest. There are plenty of dunes and bodies of water to enjoy the thrills of ATVs and jet skis. If you’re thinking about buying a powersports vehicle, good news! Getting a loan is a straightforward process that’s similar to getting an auto loan.
In this article, we’ll cover what powersports vehicles are, how to get a loan for one, and why you should insure your powersports vehicles.
You might be wondering: “What exactly is considered a powersports vehicle?” Depending on where you look, the definition of a powersports vehicle varies. Some websites define them as any vehicle where a rider uses handlebars to control the vehicle. Others tend to view them as vehicles that are two- or three-wheeled. There’s also discussion of four-wheelers falling under the powersports umbrella.
With all this in mind, here are of the most popular powersports vehicles:
Yes. Most credit unions, banks, and dealers offer financing for powersports vehicles. The process of getting a loan for powersports vehicles is like that of automobiles. You’ll want to shop around for the best rates and terms. Just like an auto loan, the better your credit history, the better chance you have of getting more favorable terms on your loan.
The short answer: it depends on where you live. Many states don’t require insurance for those powersports vehicles because they typically aren’t used by people on roadways. However, some states may require you to have insurance to ride powersports vehicles on state lands or private trails and parks.
Checking out insurance requirements for powersports vehicles in your area can also provide you with a better understanding of the total costs of owning powersports vehicles. And even if you aren’t legally required to have insurance, it’s never a bad idea to have coverage, which we will explore in the next section.
Even if you aren’t legally required to insure your powersports vehicle, there are plenty of reasons to get coverage. Accidents happen, even off road, and it’s always a good idea to be prepared with any of the following coverage(s):
Need to insure a powersports vehicle? Peak has got you covered. For more information or a free quote, visit our Insurance Services page.*
Powersports vehicles provide a lot of fun and excitement – sometimes at a fraction of the cost of a sports car or boat. Take the time to research not only financing but your local insurance and requirements. With a little due diligence, you can make your next powersports vehicle purchase smoother.
You can get powersports loans through Peak. We offer loans for vehicles including off-road dirt bikes, side-by-sides, ATVs, UTVs, personal watercraft, and snowmobiles. In addition to powersports loans, we also offer motorcycle and scooter loans. Get pre-approved today. Apply online, call (800) 258-3115, or visit your local branch.