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The dream of owning a shiny new or used motorcycle is shared by many people, but only a fortunate few are able to afford a good one. The motorcycle is a symbol of freedom, passion, and independence in our post-industrial age. Whether you are looking for the classic look (like a Harley), a touring bike, or a superfast sport bike, the thought of owning your own bike can be tantalizing. Also, in today's world where gas can cost more than $4/gallon and commute times are getting longer, buying a fuel-efficient motorcycle can be a smart financial move as well. All this is true, of course, if you can get the financing you need!

If you happen to have a low credit score due to past unpaid bills, bankruptcies, or just a lack of sufficient credit history, securing financing for a motorcycle can be tricky. Fortunately, being what banks call a 'bad credit individual' does not mean that you cannot be a 'bad boy (or girl) of the road' with your own motorcycle. It is my belief that everyone should have the opportunity to ride a two-wheeler, regardless of their credit rating.

Here are 5 tips for securing a motorcycle loan for bad credit individuals:

1. Try to boost your credit score as quickly as possible:

If your time horizon for buying a new bike is at least 30-60 days out, do what you can in the short term to boost your credit score. There are a number of common-knowledge ways to do so, like contacting creditors to remove past credit glitches from your credit report. There are also a number of other tried-and-true methods for raising your score hundreds of points in as little as a couple of months. Try these techniques to get that extra boost in your score, which could mean hundreds less in annual loan payments if you do decide to get a nicer bike that requires you to finance the deal.

2. Check out an in-house dealer financing program:

If you are considering financing your motorcycle, it is wise to ask your local dealer about financing options. You might be surprised that they just may approve your loan application ' and many have special financing programs for people with less-than-perfect credit histories.

3. Consider a personal loan:

If you are not interested in raising your credit score or just want to avoid trying to qualify for a motorcycle loan (which can be considered high-risk by many lenders), consider getting a personal loan to finance your purchase. Many lenders have special personal loan programs for bad credit individuals. The great thing about these loans is that you do not have to report how you will using the money - you can use it however you want, including to buy a new motorcycle.

4. Expect higher interest rates:

By now it should be obvious that lenders willing to lend money to people with poor credit are going to ask them to pay higher interest rates during loan payback. Suggestion: find an online loan calculator and plug in different interest rates with different loan principle combinations and payment horizons to see how your monthly payments will vary. Remember than even increasing your credit score by 50-100 points can mean a significant monthly savings for you (see above).

5. Find lenders and apply online:

If you are looking to go personal loan route, on the other hand, you can find many lenders online willing to extend you a personal loan without major collateral commitments. Rather than initially requesting quotes from individual lenders, I suggest you visit a lending aggregator Web site that give you the information for multiple bad credit lenders all in one place so that you can pick and choose the right one for you.

With all of the loan options available to you, it is wise to do your homework and look at all of the possibilities before settling on one in particular. Once you do get that bike of your dreams, please be safe out there and I hope to see you out on the road!