Pre-Approval For A Title Loan On A Motorcycle In California

California Title Loans now offers pre-approval for motorcycle title loans without requiring excellent credit. You can submit your application online or by calling 855-339-1001 and get an estimate with different payment options in less than 30 minutes.

Anyone who owns a motorcycle can apply for a title loan, and you don't need excellent credit or much of a credit history; most title loan companies offer loans based on 40% to 60% of the bike's resale value. Funding amounts start at $2,500 in California, and borrowers with high-value motorcycles may qualify for larger loan amounts.

When you have a lien-free motorcycle, you don't need to use a car or other secured asset as collateral for a vehicle equity loan. Licensed lenders accept many types of paid off motorbikes as collateral, and you'll keep your motorcycle while you pay off the loan. Do you still have any additional payments due to your original lender? If you still owe money on your motorcycle, some lenders may buy out the existing loan and refinance any remaining balance.

Many newer motorcycle makes and models can be used as collateral, including Harley-Davidson, Honda, BMW, and Suzuki, among others. If your bike is paid off and worth over $5,000, California Title Loans can help you get pre-approved for a loan of at least $2,500. Call us at 855-339-1001 to determine your bike's value, and we'll get you a no-obligation quote.

 

Requirements For A Motorcycle Title Loan In California

Requirements vary by lender, but most California title loan companies require a paid-off motorcycle and proof of income. Here's what else you may need to qualify:

- A Class M1 or M2 license (Class M1 for motorcycles or M2 for motorized bikes/mopeds) issued by the CA DMV.

- The motorcycle must be registered in your name, and the title must be free of liens and cosigners.

- We need proof that you're a California resident with government-issued ID

Income verification is needed regardless of the amount you borrow. Acceptable documents include bank statements, pay stubs, or government benefit records.

 

A salesman and customer agreeing to terms for a title loan on a motorcycle.

 

How To Apply For A Motorcycle Title Loan?

Call California Title Loans at 855-339-1001 or apply online to get a no-obligation quote on a loan with your motorcycle as collateral. We need your bike's year, make, and model to provide a pre-approval amount that shows your estimated loan amount and repayment term.

In some cases, California Title Loans will broker your loan to a local lender in California, and you may qualify with that lender to have your funds disbursed via direct deposit or ACH.

After your contract is drawn up, you may need to take your bike in for a quick inspection. Your lender will inspect the motorcycle for damage and confirm the current mileage and VIN. After all that, you'll be on your way to getting cash in hand for your bike equity.

 

Interest Rates, Repossession, And Early Payoff

- Work with a title loan company that allows early payoffs of your loan with no penalty in California. The more you pay each month, the quicker you can pay off the loan. You can save thousands on interest payments by paying off your loan a few months earlier.

- Interest rates for motorcycle title loans are subject to the same interest rate caps as vehicle title loans. Under AB 539 (Fair Access To Credit Act), loan amounts between $2,500 and $9,999 are capped at 36% plus the federal funds rate. These loans also come with a minimum repayment term of 12 months. For motorcycle loans over $10,000 (though less common, still possible for high-value touring bikes or custom builds), there are no interest rate caps in California. That means your lender can charge much higher rates than what's common with loans under $10,000.

- Stay current on the monthly payments to avoid having your motorcycle repossessed. Using your motorcycle as collateral means you risk losing it if you can't make the title loan payments. California's repossession laws apply equally to motorcycles.

 

Payment Terms For A Motorcycle Title Loan In California

Lenders in California are flexible when it comes to determining your payoff term with a motorcycle title loan. Repayment terms often range from 12 to 48 months. For loan amounts between $2,500 and $9,999, California lending laws for title loans require a minimum payment term of 12 months, though you can always pay off the loan early with no penalty.

 

Why use a motorcycle as collateral for a loan?

The underwriting process often takes less than 24 hours. Do you have a motorcycle titled in your name, and can you verify your income? If so, you checked off the two biggest requirements for a motorcycle title loan in California.

You can get the cash you need fast by meeting with a neighborhood lender to complete the bike inspection. There's no need to wait days for a formal inspection. Go to any lending location in California, complete an inspection, and sign your loan contract. The lender will then place a lien on your motorcycle title as collateral. Some inspection locations in Los Angeles, Riverside, and San Diego offer a full underwriting and inspection process that lets you complete the process in about an hour.

There are typically only minimal credit checks for a title loan on a motorcycle, so even those with poor credit may be approved with a lien-free motorcycle as collateral. We may run your credit to check for bankruptcies or significant loan defaults, but typical late payments and high debt-to-income ratios will not be a concern. If you have a paid-off bike, you should qualify for a motorcycle title loan regardless of your credit history.

 

Ready To Apply? Here's What Comes Next

Compared to unsecured personal loans that can take days to underwrite, a motorcycle title loan can be underwritten and funded within one business day. Here at California Title Loans, we'll take your application online or over the phone, and there's no need to wait for funding when you can get your loan proceeds through direct deposit or from an in-person lender in California.

Call us at 855-339-1001 to see how much you can borrow with your motorcycle as collateral.