FAQ

Powersport loans make owning your dream vehicle accessible and affordable. Instead of saving up a large sum of money, financing allows you to enjoy your motorcycle, ATV, snowmobile, boat, or RV immediately with manageable monthly payments. Financing can also help you build or improve your credit history when payments are made on time, opening doors to future financial opportunities. It provides financial flexibility, allowing you to get the powersport vehicle you want without tying up all your savings.

The initial online application for pre-approval is very quick and can often be completed in just a few minutes. Once you submit your application, we typically work to get you an approval decision within 24 hours. The overall process, from application to funding, can vary depending on how quickly you find your desired vehicle and provide any necessary paperwork, but many deals are completed within a few days.

Powersport Network Canada provides loans for a wide variety of powersport vehicles, both new and used, purchased from a dealership or private seller. This includes:

• Motorcycles (cruisers, sportbikes, dirt bikes, touring bikes)
• ATVs (All-Terrain Vehicles)
• Snowmobiles
• Boats
• Personal Watercraft (PWCs / Jet Skis)
• RVs (Recreational Vehicles), including travel trailers, fifth wheels, and motorhomes
• Campers / RVs

To process your loan application, we typically require some basic personal and financial information. This generally includes:

• Your full name and contact information (phone, email, address)
• Date of birth
• Marital status
• Employment details (employer name, occupation, gross income, duration of employment)
• Residential information (home status – rent/own, monthly payment, duration at address)
• Details regarding the powersport vehicle you intend to purchase (make, model, year, VIN if available).
• In some cases, we may ask about your credit history or if a co-signer is available.

Our interest rates are competitive and vary based on several factors, including your credit history, the type and age of the powersport vehicle you’re financing, the loan amount, and the chosen loan term. We work with a broad network of lenders to find you the best possible rate tailored to your individual financial situation. Rates typically range from single digits for those with excellent credit to higher rates for those rebuilding credit. We aim for transparency and will present you with the best available options.

Our requirements are designed to be as flexible as possible to help a wide range of Canadians get approved. Generally, you need to be a Canadian resident and of legal age in your province or territory. We work with all credit types, including good credit, bad credit, and even those with no credit history or past bankruptcies/consumer proposals. We’ll assess your overall financial situation, including income stability and debt-to-income ratio, to ensure the loan is manageable for you.

While a down payment can often lead to better interest rates and lower monthly payments, it is not always a strict requirement. Powersport Network Canada works with lenders who offer financing options that can cover up to 100% of the vehicle’s cost for qualified applicants. The need for a down payment can depend on your credit profile, the specific vehicle, and the lender’s policies. We will explore all options to find a solution that best fits your financial situation.

Powersport Network Canada focuses on facilitating loans for the purchase of powersport vehicles. While some vehicle financing options from certain providers or dealerships might occasionally include cash-back incentives as part of specific promotions, our primary service is to help you secure the financing for the vehicle itself. If you’re interested in consolidating other debts or getting cash back, please mention this during your application, and we can explore if any of our lending partners offer solutions that align with your broader financial goals.