Can I get a motorcycle loan and car loan at the same time?
I currently have a car loan, but I also want to purchase a motorcycle. Will my lender allow me to have two loans at the same time?
“If you have great credit and your debt-to-income ratio is 43% or less following the motorcycle loan, it shouldn’t be a problem.
Lenders have no steadfast rules on how many loans you can have. They just want to make sure that you can pay on time without defaulting.
Keep in mind that you’ll also need to get full-coverage car insurance on both loans per the loan contract, so factor that into your budget.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
What kind of car insurance coverage do you recommend for a teen driver with a newer vehicle?
I'm 18 and my dad gave me a 2020 Toyota as a gift. What kind of car insurance should I get?
Feb 22, 2021
"How much of a car loan should I be looking for at age 18? "
"My local dealer has a low-mileage Altima for sale for $12,000. I have about $5,000 saved up. I could definitely afford a $300-per-month car payment, but I only work a few days a week and that would be most of my monthly income. Could I get this car loan? Or do I have other options?"
May 25, 2021