Motorcycle Title Loans

The iron bike. They command attention on the road, but they also can be used for quick cash. If you didn't know, the title to your motorcycle can be used for a quick loan.

About Motorcycle Title Loans

Just like cars, you can use the title to your motorcycle for a quick loan. The advantage of this method is that you don't need great credit. In fact, bad credit in most instances is not an issue. This process skips the process of the credit check, eliminating all the frustration, time and even the payments necessary to do the check, with them possibly rejecting you. After finding a reputable agent, you can quickly fill out an online loan request in a matter of minutes. To qualify you will need proof of insurance, proof of income and proof of your current residence, as well as the title to your motorcycle. It is also important to note that the motorcycle will need to be paid off and yours outright. One more thing to note, you must also have a valid registration to go along with the other required documents.

After filling out the form, a licensed agent will get in touch with you, to schedule a time for you to come down in person, along with your motorcycle. You will need to bring the required documents in person as well. Once there, they will inspect the motorcycle to check the condition and the working order. The motorcycle will then be appraised, and the amount of the loan is then determined on how much you are requesting in tandem with the value of the motorcycle. If the loan is accepted, you will walk out with the money that very day.

Before signing off on the loan, be sure to review all the options of the loan interest. By federal law, agents must tell you about all the conditions of the loan, before you sign off on it. It also important to find the appropriate interest rate that's best for you. Some Apr's can get extremely high. Once you sign the contract, you must honor it, and keep up with the agreed upon payments. Failure to keep up with the payments will result in your motorcycle being repossessed. The agency that issued you the loan will take the difference from the appraised value of the motorcycle from the payments that you made, prior to the repossession of the motorcycle. Each state has their specific requirements, but you must be at least 18 years old to apply for a loan, against the title of your motorcycle.