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Motorcycle Title Loans in Oakland – How Can It Improve The Quality Of Your Life
Table of contents
- What is a motorcycle title loan?
- Motorcycle title loans – are they different from auto title loans?
- The top five things you should consider when contemplating a motorcycle title loan
- How to get a motorcycle title loan
- Advantages of getting a motorcycle title loan
- How to apply for a motorcycle title loan quote
What Is A Motorcycle Title Loan?
Life can become more complicated all of a sudden, and you may need to raise some money as fast as possible without resorting to conventional methods of getting a loan. There is no doubt that you know about auto title loans. But what if you need to get your hands on cash fast, yet do not own an automobile but a motorcycle?
If you have succeeded in paying off your motorcycle, then you can use it as a collateral. It may surprise you to discover that motorcycle title loans come with lots of exciting benefits over conventional methods of obtaining loans.
Do you need to raise money to pay utility or medical bills? Have you approached a bank or two for a loan but have been turned down? As long as you own a motorcycle that is in good working condition, title lending firms can help in providing the cash, using your 2-wheeled motor-powered automobile as a security guarantee.
A motorcycle title loan is a form of auto title loan that calls for the clear title on your motorcycle as collateral. It is very similar to obtaining a car title loan. Accessing motorcycle title loans in Oakland requires the topnotch condition/value of your bike as well as your ability to pay off or complete payments. These criteria also play a significant role in determining the amount of money or loan you can access.
Motorcycle Title Loans – Are They Different from Auto Title Loans?
Title loans are given on several types of automobiles, and one of such is a motorcycle. They are also given on trucks, cars, RVs, and trailers that haul heavy merchandise.
However, the loan amount you obtain via a motorcycle title loan is far less than that of a vehicle or car. This means that:
- you will not get your hands on as much cash as you had like on a motorcycle
- you will be able to repay the loan because the loan amount – and subsequently your payments – will be significantly lower.
The Top Five Things You Should Consider When Contemplating A Title Loan
Whenever you are contemplating getting a motorcycle title loan, here are the top five things you must take into account:
#1: Ensure That You Have A Clean Title
A clean title is one that has no liens or current financing against it. it is a crucial necessity in the entire process, for without it, you cannot get the loan. Having a clean title ensures that the motorcycle is proper collateral if you fail to make the required payments for one reason or another.
If the motorcycle is still theoretically owned by some other individual or entity, the title loan firm will not be able to make back their losses for the loan.
#2: Research All Potential Title Loan Companies
This is a step that is very crucial, if not the most important of all. Although many contradictory opinions on the value or worth of title loans exist, the surest way to encounter a problem is to deal with an unscrupulous company. When making use of a reliable title loan company with excellent reviews and who offers this service selflessly, people who are in a financial bind find such companies extremely useful.
Therefore, seek out several third-party reviews from unaffiliated sources so that you can be sure that you are doing business with a title loan company that is not only trustworthy but offers the service without any plans to cheat you.
#3: Evaluate the Amount of Cash That You Need
You need to ensure that you obtain the appropriate amount of money that is required to take care of whatever life’s situation or business that led you into taking this step and decision in the first instance. It is also very crucial for you to be aware of how much you are expected to pay back to the title loan company so that you won’t be deprived of your motorcycle.
You should, therefore, obtain just the amount of money that you will need without having to borrow too much. This is to watch against defaulting or not being able to pay back the loan within the stipulated time frame. No one wants to lose his motorcycle in addition to other financial troubles.
#4: Have the Appropriate Documentation and Paperwork
Besides the motorcycle title itself, the borrower must also provide some other documents in the process of acquiring the loan. You must have the following:
- proof of insurance
- valid driver’s license and a spare key
- proof of residence
- references (not all title loan companies will demand for this information)
a few title loan firms may require additional information from you pay stubs. This is to verify your ability to repay the loan. These are some of the things you should take note of when you are researching the best title loan companies to do business with.
By taking note of each title loan company you research, you will know their requirements firsthand and what you need to do to get the loan amount that you seek. Then go ahead and prepare all the necessary documentation that will make the entire process seamless for you.
#5: Examine and Stay on Top of Payment Agenda
It is highly essential for you to understand how the payment process works. You should ask as many questions as you can during the loaning procedure. This is to enable you to have knowledge of how much of your payments goes to the principal, how much goes to the interest, and how much is due in each payment.
The worst outcome that could occur is that you lose your motorcycle. However, when you have a sound knowledge about the payment information, you will be able to prevent such a worst-case scenario from taking place.
How to get a motorcycle title loan
The question that must be running through your mind at this moment is: how can I obtain a motorcycle title loan?
If you are in Oakland, then it is easy to get your motorcycle title loan approved. All you will require to get approved are:
- a clear motorcycle title,
- a bona fide government-issued ID e.g. your driver’s license
motorcycle title loans in Oakland are remarkable when it comes to rendering topnotch service to residents of the city and county seat of Alameda County. When you approach our title lending company to obtain a motorcycle title pawn, our proficient title loan agents or representatives will pull out all the stops to ensure that you get your hands on the cash you need as fast as possible.
As soon as you append your signature and you get the cash or loan amount, you are bound by law to pay back the loan. If you fail to comply, it could result to a default. This could lead to the repossession of your motorcycle and it could end up getting resold at an auction.
The law requires that the contract spells out the following:
- how much the loan amount is
- how long the loan will last
- repossession terms
- interest rate
- other necessary information, etc.
our representatives at motorcycle title loans in Oakland will also expatiate the details of the contract. This will alleviate any worries you may have about not understanding the conditions and terms of the contract. Each policy drawn out at motorcycle title loans in Oakland are in line with the bylaws or statutes set by state DBO as well as federal regulations.
Advantages Of Getting A Motorcycle Title Loan
Here are some of the benefits of getting a motorcycle title loan:
- The application process online is stress-free. The information you will be required to submit is much less than what you will be asked to do if you go for a personal bank loan.
- Your credit score will not be required as a standard for procuring the motorcycle title loan. Nevertheless, you will have the opportunity or chance to restore bad credit when you keep pace with your payments on a monthly basis.
- Spending the loan is entirely up to you. No one will ask for details of how, why, and where you intend to spend the loan.
- you will not be charged extra amounts of money to take care of prepayment penalty if you happen to repay the loan earlier than the time or period that is specified in the contract.
- There is no need for you to sell off your motorcycle to a stranger or pawn shop to raise the cash you need for an emergency.
- The entire process of obtaining a motorcycle title loan is quick and simple.
- There are no hidden charges whatsoever. The law also has your back as indicated clearly and visibly in the contract agreement.
- Paying up on time improves your credit score
- You obtain a quick response within a few minutes after filling the application form online.
- Competitive and low rates
- The only collateral you need is your motorcycle. Yet, you will obtain the loan the same day you sent in an application.
- Motorcycle inspections are not as stressful or tedious than the inspection of a vehicle for a title loan. In most cases, there are no inspections in any way. This contributes to the easy accessibility of the motorcycle title loan.
- The motorcycle will still be in your care and you can even ride it any day, any time for the running of your day-to-day activities.
How to Apply for A Motorcycle Title Loan Quote
Motorcycle title loans in Oakland have provided multiple options for anyone who needs a quick loan. You can visit our office to apply for the motorcycle title loan. You can also apply for a title loan quote on your bike over the telephone when you place a phone call to our office or do so over the internet.
The following are some of the vital information you will be required by law to provide:
- your personal details – your name, home address, telephone number, a valid means of identification i.e. driver’s license.
- The model, make, and mileage on your bike
It will take you a few minutes to fill and complete the bike title loan application. As soon as you complete the form – in person or online – the customer service personnel at Motorcycle title loans in Oakland will act on your application. They will guide you through the whole process from start to finish and generate a loan amount that is commensurate to the value of your motorcycle or what your bike qualifies you to have.
The process is stress-free and quick and you will be given the loan amount on the same day you apply for it. other title lending companies may ask you why you need the money or its purpose. But at motorcycle title loans in Oakland, no one will bother to ask why you need a loan.
It is not in the position of the title lending company to ask how or why you need the loan, so you are free to use the loan for:
- Paying for a much-needed vacation
- Celebrating a noteworthy occasion
- Offsetting a life-threatening financial emergency
- Paying for outstanding medical bills
- Helping a friend or family member in need
Motorcycle title loans in Oakland, we understand that your motorcycle is an asset that helps you take care of the day’s business. This is the primary reason why you will continue to ride your bike throughout the period of the loan. You will end up paying much less while you get more.
Get in touch with us today at Car Title Loans California.