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A Guide to Motorcycle Title Loans

A Guide to Motorcycles Title Loans

Life can be unpredictable. If an unexpected situation or emergency arises, you may need quick cash to make ends meet. But getting a traditional loan in a hurry is not easy, which is why so many people consider alternatives such as cash title loans for motorcycles. Here’s what you need to know about these loans:

How Do Motorcycle Title Loans Work?

A cash title loan, also known as a title loan, is a type of secured loan that allows the borrower to use the title to their vehicle as collateral. Borrowers can use the title to their car, motorcycle, or RV as collateral in order to obtain a cash title loan.

If you are approved, the lender will place a lien on your vehicle’s title. The lien will be removed once the debt has been paid in full.

This doesn’t mean that you will need to hand over the keys to your car, motorcycle, or RV to get the cash you need. You can continue to use your vehicle while you make payments. But if you stop making payments, the lender has the right to take possession of your vehicle to satisfy your debt.

What Will You Need to Apply For A Motorcycle Title Loan?

Applying for a motorcycle title loan is much easier and faster than applying for a traditional loan. The application process and submission requirements may vary from lender-to-lender. But in general, every lender will request certain documents from title loan applicants, including:

  • A motorcycle title with your name on it
  • Government-issued ID
  • Proof of income
  • Proof of residence
  • Photos of your vehicle

If you have any questions regarding what you need to submit, it’s best to connect with a loan specialist. Your loan specialist can walk you through the process of submitting these documents and explain exactly what is needed to process your application.

Can You Get A Title Loan Without Proof of Income?

You will not get approved for a title loan unless you are able to prove that you are capable of repaying the loan. For this reason, every lender requires that applicants submit proof of income during the title loan application process. This way, the lender can verify that you have a reliable source of income and will not have trouble making regular payments.

It’s important to note that proof of income is not the same as proof of employment. Lenders need to see proof of income, but they do not necessarily need to see proof of employment. In other words, you will need to show proof of any type of income to qualify for a title loan, regardless of whether or not this income comes from a job.

For example, if you are unemployed but receive disability benefits, this qualifies as income. Other benefits such as workers’ compensation and veterans’ benefits qualify as income as well. This is why you shouldn’t assume that you won’t qualify for a title loan simply because you are unemployed.

A Guide to Motorcycles Title Loans

How Much Can You Get For A Title Loan For A Motorcycle?

If you are considering applying for a motorcycle title loan, you may be wondering how much cash you will be able to get if you are approved. The answer to this question will depend on several factors, including:

  • Your Income
  • Value of Your Motorcycle
  • Equity
  • State Laws

Your Income

Your lender will analyze your income when determining how much you should be allowed to borrow. This is so the lender can ensure that you are not approved to borrow more than you are capable of repaying.

Value of Your Motorcycle

The value of your motorcycle is an important factor in determining how much you are able to borrow through a motorcycle title loan.

Your lender will calculate the value of your motorcycle by evaluating its year, make, model, condition, mileage, and other factors. You will not be able to borrow more than your motorcycle is worth. In fact, your lender will typically only allow you to borrow up to a certain percentage of your motorcycle’s value.


Equity is defined as the difference between the resale value of your motorcycle and the amount you still owe on it. Your equity in your motorcycle will affect how much you are able to borrow.

For example, if your motorcycle’s resale value is $8,000 but you owe $2,000 on it, your equity is $6,000. This means the lender will only be able to recoup $6,000 if they need to take possession of your motorcycle to satisfy your debt. Therefore, the lender will not allow you to borrow more than $6,000 if you are approved for a motorcycle title loan.

State Laws

Lenders will need to comply with all state and federal laws regarding motorcycle title loans. Some states have passed laws that establish minimum and maximum title loan amounts.

For example, the state of Illinois has established a maximum title loan amount of $4,000 or up to 50% of the borrower’s monthly income.

If you live in a state with minimum and maximum title loan amounts, these laws could affect how much you are able to borrow.

What Are the Benefits of Cash Title Loans For Motorcycles?

There are many benefits to taking out a motorcycle title loan to get the quick cash you need.

Some loans are only issued to borrowers who plan on using the money for a specific purpose. For example, if you are approved for a student loan, the money must be spent on education expenses. But one of the benefits of title loans is there are no rules or restrictions on what you are allowed to do with the money once you are approved. Lenders don’t care how you spend it as long as you pay it back. 

There are also no prepayment penalties on motorcycle title loans. This means you can pay your loan off as early as you would like without incurring additional charges.

Many people choose motorcycle title loans over traditional loans because of their credit history. Having poor credit may prevent you from obtaining a traditional loan, but it won’t necessarily affect your eligibility for a title loan. Because these loans are secured by collateral, lenders will not need to rely as heavily on your credit history when determining your eligibility for a title loan.

The fast processing time is another benefit of these loans. Lenders typically process motorcycle title loans quickly, which means you won’t have to wait too long to get the cash you need.

A Guide to Motorcycles Title Loans

How to Apply For A Motorcycle Title Loan

Applying for a motorcycle title loan has never been easier. Here’s what to do:

  1. Provide your information either by submitting a form on our website or calling us. If you submit a form, a loan specialist will contact you as soon as possible to get the information they need to start your application.
  2. Work with your loan specialist to create a loan that meets your unique financial needs. Your loan specialist will help you understand how much you qualify for, your repayment terms, and more details regarding your loan.
  3. Submit the appropriate documents. Your loan specialist will tell you what documents we need to process your application. You can submit these documents via email, fax, or text message.
  4. Get the cash you need. We will send you the money via check, wire transfer, or in cash. The choice is yours.

That’s all it takes to apply for and obtain a title loan for your motorcycle. If you are in need of fast cash, start the application process today so you can get the money you need as quickly as possible.