Motorcycle Title Loans

How Motorcycle Title Loans Work

Vehicle title loans are the most common forms of title loans. If you own your motorcycle outright, you will sign the title over to the loan company. The company will then lend you up to 25% (the amount may vary) of the motorcycle’s value and keep the title as collateral in case you default on your loan repayment plan. Most people ask for motorcycle title loans because they need to borrow money quickly for an unexpected or emergency expense or because they need to pay a large bill. The typical length of a title loan is 15-30 days, but it could be shorter or longer, and you can always repay your loan in one payment or sooner than anticipated. Keep in mind that if you don’t meet the terms of the repayment plan for your loan, your motorcycle may be repossessed by the loan company.

Eligibility Requirements for Title Loans on Motorcycles

All lenders have different eligibility requirements, and it’s important to review them carefully before beginning your application. A motorcycle title loan may be a good loan option if you have bad credit or no credit. Here is a look at what you need in order to get a title loan through VIP Title Loans:

• You must be 18 years of age or older.
• You must have a regular income source with proof of income.
• You must have a permanent residence and proof of residence.
• You must have a valid, government-issued ID.
• You must own the motorcycle outright with no other parties and have a clean and lien-free title.
• Your motorcycle must be in acceptable condition.
• Your motorcycle must be paid off or nearly paid off.

Why Consider an Online Motorcycle Title Loan?

Most people apply for motorcycle title loans online because they need money quickly. You might consider this type of online loan if you have an unexpected expense and you need money within hours or the same day. You can use the money from your loan to pay for:

• Rent
• Utility bills
• Hospital bills
• Groceries
• Childcare expenses
• Credit card bills or other loans
• Overdraft fees or a negative balance in your bank account

What to Expect From the Title Loan Application Process

We do everything possible to make the title loan application process as smooth and stress-free as we can. Here is a look at what you can expect:

• Get all of your ownership documents for your motorcycle, including the title.
• Obtain proof of income, proof of residence, and other documentation we need.
• Fill out our online title loan application.
• Provide us with information about the make, model, year, condition, mileage, VIN, and value of your motorcycle. The value of your motorcycle will determine the amount you can borrow. In most cases, you can borrow between 25-50% of the value of your motorcycle.
• We will contact you to schedule a vehicle inspection or will ask you to provide us with photos or videos of your vehicle.
• We will provide you with your loan amount and loan terms.
• You will sign our loan agreement and provide us with funding information.
• We will deposit the loan funds as outlined.
• You will make regular payments according to the agreed-upon repayment plan.