Get Emergency Cash With A Title Loan On A Motorcycle!
Apply Using the Form Below Or Call 855-339-1001.
Pre-Approval For A Title Loan On A Motorcycle In California
California Title Loans now offers pre-approval for title loans on motorcycles without a comprehensive credit check. 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 30% and up of the bike's resale value! Some lenders provide higher percentages if you commit to an in-person inspection to verify the motorcycle's value. Funding amounts start at $2,500 in California, and some customers can borrow more with bikes valued at $10,000+!
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. We take all types of bikes as collateral, and you can keep your bike while you pay off the loan. Do you still need to make more payments to pay off your original lender? We can sometimes help you with an online title loan even if the motorcycle isn't completely paid off! Contact us, and we'll see if any company is willing to buy out your existing loan!
Many newer motorcycle makes and models can be used as collateral, including Harley-Davidson, Honda, BMW, and Suzuki, to name a few. The same applies to motorbikes, including scooters, mopeds, off-road bikes, and 4-wheelers. If your bike is paid off and worth over $4,000, California Title Loans will work to get you pre-approved for a loan based on 30% or more of the equity available in your motorcycle. 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 need to qualify:
- A Class M1 or M2 license issued by the CA DMV.
- The motorcycle must be registered in your name, and the title must be free of liens and cosigners.
- You need proof of insurance covering the bike's replacement cost and liability coverage.
- We need proof that you're a California resident.
- Loan amounts for a motorcycle title loan are lower than those for cars and trucks, but we still must verify your income with bank statements, employment information, or government records.
Apply For A Motorcycle Title Loan Online
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 to know your bike's year, make, and model to provide you with 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 for funds disbursement through direct deposit or a money order.
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!
What Else To Know About Title Loans On A Motorcycle
- Work with a title loan company that allows early payoffs of your loan with no penalty. 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!
- The interest rate for motorcycle title loans is high. In California, title loan interest rates between $2,500 and $10,000 are capped at 36%. Loan amounts over $10,000 are uncapped in California. But even with an interest rate of around 30%, it can be challenging to repay the loan unless you're making double or triple the monthly payment.
- Stay current on the monthly payments to avoid having your motorcycle repossessed. There's always a risk of defaulting and having your bike sold at auction. Contact your lender if you can't afford the payments and negotiate a new payment term, or ask them to refinance to a lower interest rate and a lower monthly payment.
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. Some customers opt for a quick payoff term of just a few months when they take out an emergency title loan. Others stretch the repayment term to 48 months to get the lowest possible monthly payment.
Why use a motorcycle as collateral for a loan:
California Title Loans offers a quick application process, with the underwriting process often taking less than 24 hours. Do you have a motorcycle titled in your name, and can you verify your monthly income? Those are the main requirements, and if you have all the documents, we can get you pre-approved quickly!
- Get the cash you need fast by meeting with us 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 the pink slip over to the lender. 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's typically no credit check for a title loan on a motorcycle, so even those with bad credit can get approved! We may run your credit to look for bankruptcies or significant loan defaults, but typical late payments and high debt-to-income issues will not be an issue. If you have a paid off bike, you should qualify for a motorcycle title loan regardless of your credit history.
Apply With California Title Loans To Get A Motorcycle Title Loan
A title loan on your motorcycle can be a great way to get emergency cash, compared to other personal loan options that take days or weeks to be approved. 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 money order. Call us at 855-339-1001 to see how much you can borrow with your motorcycle as collateral!