I recently purchased an ATV. Paid cash (saved up). However, if I were buying one and was in your position I would do as stated above......Pay cash down and then figure out what you can afford to pay per month, try to get your payment below what you can pay a month and pay more than your payment amount (this takes discipline and sometimes is hard to do). Best thing is pay money down, get lowest rate and pay more than your monthly payment to pay it off early and avoid the interest rate hikes. Best of luck to you. Dont get caught up in the low payment/long loan term rut!