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How Do Motorcycle Title Loan Work?

How Do Motorcycle Title Loan Work?

If you need extra cash, it’s important to realize that you are not alone. Nearly everyone will experience financial trouble at some point in their lives. Don’t let this financial hardship set you back. Motorcycle title loan can provide you with the cash you need to resolve your financial problems and move forward in your life. 

What Are Motorcycle Title Loans?

A motorcycle title loan is a type of secured loan. To obtain a loan, the borrower simply needs to use the title to their motorcycle as collateral. This means the lender will put a lien on the title to your motorcycle until the loan has been repaid.

What Will Happen to Your Motorcycle?

Many people think that getting a motorcycle title loan means handing over the keys to their bike, but that’s not the case.

You won’t have to sacrifice your motorcycle in order to get a title loan. In fact, the lender will allow you to continue to use your motorcycle as you normally would while you make payments. But if you stop making payments, the lender has the right to take ownership of your motorcycle to satisfy the rest of your debt.

In other words, nothing will happen to your motorcycle as long as you make consistent, on-time payments. You will only lose possession of your motorcycle if you fail to comply with the terms of your loan agreement.

Motorcycle Title Loan

How Much Can You Get For A Motorcycle Title Loan?

Most borrowers are eager to find out how much cash they can obtain by taking out a motorcycle title loan. The size of your motorcycle title loan will depend on several factors, including:

  • Monthly Income
  • Motorcycle’s Value
  • Equity
  • State Laws

Monthly Income

The amount of income you earn per month will impact how much you are approved to borrow through a motorcycle title loan. This is because the lender will not let you borrow more than you will be able to repay. To prevent this problem, the lender will carefully analyze your monthly income when determining the size of your loan.

Motorcycle’s Value

Perhaps the most important factor that will affect the size of your loan is the value of your motorcycle. A motorcycle title loan is secured by the title to your motorcycle, which means the lender will not let you borrow more than they will be able to recoup by taking ownership of your motorcycle in the event you stop making payments.

Some of the factors that the lender will consider when calculating the value of your motorcycle include the year, make, model, mileage, and condition. Evaluating these factors will help the lender determine how much your motorcycle is worth.


The term “equity” refers to the difference between your motorcycle’s resale value and how much you still owe on the motorcycle. This is another factor that will impact the size of your motorcycle title loan.

State Laws

Your place of residence can affect the size of your motorcycle title loan, too. There are laws in some states that restrict the size of title loans. If you live in one of these states, the size of your loan will partly depend on the minimum and maximum loan amounts established by these laws.

What Documents Are Needed For A Motorcycle Title Loan?

During the application process, a loan specialist will explain what documents you will need to submit to obtain a motorcycle title loan. The documents that are required to apply for a title loan will vary from lender to lender. But in general, lenders will typically require you to submit the following documents:

  • A driver’s license or another type of government-issued ID
  • Proof of income
  • Proof of residence
  • Photos of your motorcycle
  • Title to your motorcycle

It’s important to note that your name must be on the title to your motorcycle to qualify for a title loan. However, this does not mean that your name should be the only name listed on the title. You will still qualify for a loan if more than one name is listed on the title to your motorcycle as long as one of those names is yours.

Motorcycle Title Loan

Can You Get A Motorcycle Title Loan If You Are Unemployed? 

If you are applying for a motorcycle title loan, the lender will need to see proof of income to approve your application. Some people assume that this means they will not qualify for a motorcycle title loan if they are currently unemployed. But that’s not the case.

Proof of income is not the same as proof of employment. The lender will need to see proof of any type of income in order to approve your application. You may still qualify if you provide proof of other types of income, such as workers’ compensation benefits, veterans’ benefits, and Social Security benefits.

To put it simply, you can still qualify for a motorcycle loan even if you are unemployed. However, if you are unemployed, you must be able to show the lender that you have another source of income outside of employment.

Should You Get A Motorcycle Title Loan?

It’s important to understand the benefits of taking out a motorcycle title loan so you know whether or not this option is right for you.

First, motorcycle title loan applications are typically processed quickly. This is why this type of loan is ideal for people who are in need of cash right away.

You won’t have to follow certain rules regarding what you can spend your money on once you are approved for a loan. The lender will let you spend the money on whatever you please. This is another benefit that sets title loans apart from other types of personal loans.

There are often fees associated with paying off a traditional loan early, but you won’t have to worry about these hidden fees if you take out a motorcycle title loan. There are no prepayment penalties, so you can pay off your debt early without worrying about incurring massive charges from the lender.

How to Apply For A Motorcycle Title Loan

Applying for a traditional loan requires filling out extensive paperwork, submitting countless pages of documents, and waiting weeks to find out whether or not you were approved.

But the process of applying for a motorcycle title loan is much easier and faster. Here are the steps you will need to take to submit an application:

  • Fill out the form on the top of our website or give us a call to submit your information over the phone. If you submit your information through our website, one of our loan specialists will contact you as soon as possible to guide you through the rest of the process.
  • Discuss the terms of your loan with a loan specialist. Make sure you understand how much you qualify for, how much your payments will be, and other details regarding your loan.
  • Submit the required documentation. Your loan specialist will tell you what documents you need to submit to complete your application. You can submit the requested documents via email, fax, or photos through text. The faster you submit these documents, the sooner you can get the cash you need.
  • Get cash. Once you are approved, you can arrange to pick up a cash or check. You also have the option of getting your cash via wire transfer. The choice is yours.

Follow these four simple steps to quickly get the cash you need to make ends meet!