How to Get Scooter Financing

Updated on April 9, 2024

At a Glance

  • Personal loans are a popular option for financing scooters due to lower interest rates.
  • Online lenders like Upstart, LightStream, and Upgrade are recommended for scooter financing.
  • Consider factors such as fuel type, scooter purpose, and licensing requirements before financing.

Cars are not for everyone. Some people seek other forms of transportation that make them feel free. Scooters are great for this, which is why so many individuals want one. Sadly, buying a scooter is not exactly cheap.

Depending on how much your preferred model costs, you need to save a specific amount of cash or borrow it. If you’re on a budget, you might be looking into scooter financing. Here are your options.

Best Online Loans for Scooters

Personal loans are great to finance a scooter. They are easy to find at different institutions, such as banks or credit unions. You can even get them online as many lenders accept online applications nowadays.

The best thing about personal loans is that if you have a good credit score, they bring lower interest rates compared to credit cards. Also, you do not have to make a down payment or use something as collateral. Personal loans are generally unsecured.

Let’s take a look at some of the best scooter financing options for personal loans:


Upstart can be your savior when your credit score isn’t excellent, but it’s also not lower than 580. With the minimum credit score requirement being 580, more people have the chance to apply for this loan and obtain it. It’s a great opportunity to finance a quality scooter while working to improve your score.

Now, a soft credit pull will be done to check your rates, but it won’t affect your credit score too much. The company has an origination fee between 0% and 8%, as well as a late fee of $15 or 5% of the payment.

Once your loan application is approved, you get your money within one business day. Loan amounts vary from $1,000 to $50,000, while repayment terms are 36 or 60 months.


If your credit is good or excellent, you have the chance to apply for a much better loan, respectively LightStream. The company offers higher sums so that you can use the money for various needs. Therefore, if your scooter is a pricier model, you have the opportunity to get the funds for it.

The minimum amount you are allowed to borrow is $5,000, so you should only consider this if the scooter is expensive and you need more than $5,000. Generally, you will be able to borrow up to $100,000. Scooters are not that expensive, but it’s great to see you can get some extra cash if necessary.

Another cool thing about LightStream is that they have no late fee or origination fee. After your loan is granted within one business day, you can pay it off within 24 – 144 months, depending on the purpose of your loan.


You can also go for Upgrade if you have a score of 580 or higher. This choice is great, especially when your scooter is not that pricey and you need a lower sum. With Upgrade, you are allowed to take out between $1,000 and $50,000.

Repayment terms range from 24 to 84 months. Also, you get the money as soon as the next day.

It’s very important to know that Upgrade has a late fee of $10 and an origination fee between 1.85% and 8%.

Dealer Financing for Scooters

Are personal loans not the best idea for you? Dealer financing is also available and, in some cases, it’s much easier to deal with than a personal loan.

Instead of borrowing money from a separate lender, you can finance the scooter through the dealership directly. Many dealers work with lenders to give customers access to finances when they cannot afford the vehicle.

Similar to personal loans, dealers that offer dealer financing will bring different rates to the table. You must look into this aspect before going for one option or another. Search for various scooter and moped dealers that provide dealer financing and compare their terms and rates. Then, go for the one that has the most convenient offers.

Considerations When Financing a Scooter

Before you go for scooter financing, there are some things to consider. Keep these things in mind when you are about to purchase or finance a new two-wheeler:


Would you fancy a gas or an electric scooter? You can find both on the market, but each one is different and has its own pros and cons.

Gas scooters are great when you want to go on longer trips. They tend to be more reliable as you can always find a station along the way and refuel the vehicle. However, they are not the most environmentally friendly option.

On the other hand, electric scooters are suitable when you need a vehicle for shorter trips. They are also better for the environment.

Scooter Purpose

Why do you want a scooter? Is it for long trips out of town or for short city trips? If you only need a vehicle to get around, a scooter is ideal. Longer journeys might require a different vehicle, such as a motorcycle.

Paying Off the Debt

Will you be able to pay off your loan if you take out scooter financing? This is truly an aspect you should think about before financing the vehicle. If your budget is too tight to fit the new loan, maybe it’s better to save money until you can afford the scooter.


Some states require a license for the scooter, so you need one before buying such a vehicle and driving it around your town. Each state has different laws, so look up the data for your state first.

Scooter Financing FAQ

Here are some frequently asked questions about scooter financing:

What is the average price of a scooter?

These vehicles may cost up to $6,000, depending on the type of scooter and the model. Less powerful scooters might be cheaper.

Can scooters be financed?

Yes, scooters can be financed using a personal loan or dealer financing.

Are there loans for scooter financing?

You can find different loans for scooter financing, with personal loans being the most common ones. Firms like LightStream, Upgrade, or Upstart are great for this purpose.

Read More

Final Thoughts

Scooter financing is available for everyone who wants a scooter but doesn’t have the money for it yet. Luckily, you can get some great personal loans with amazing rates or go for dealer financing. If you don’t want to get into debt, you can always start saving money instead.

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Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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