Motorcycle Title Loans
You may have heard of car title loan or auto title loans, but have you heard of motorcycle title loans? Motorcycle title loans work in the same way as the more familiar car title loans. They simply use a motorcycle title, instead of a car title as the collateral for the loan. Here we will look at the ins and outs of how motorcycle title loans work and who can apply for these types of loans.
The Ins and Outs of How the Loans Work
Motorcycle title loans in San Jose are available for residents of the San Jose area. You must have a motorcycle with an up-to-date title in your name in order to be eligible for a loan as the title is what acts as the collateral for the loan and makes the loan a secured loan option. For the title to be the collateral, the lender takes over the lien and the loan amount is based on the value of your motorcycle. You can keep riding it while you repay the loan, so that takes away one of the concerns that many people have when it comes to title loans.
Applying for Motorcycle Title Loans
- Who is Eligible?
Motorcycle title loans in San Jose, who can apply for them?! Primarily, you must be resident in the San Jose area and own a motorcycle. In truth, it doesn’t even matter if you have full equity in the bike – you might still be eligible for a loan. In addition, it doesn’t matter if you have bad credit or are unemployed – you might still be eligible for a loan. In fact, the lender will have no information about your credit score, credit history, employment history or financial background as you are not required to provide any of this information and there are no checks that are performed in order to approve your loan.
- How to Apply?
You can apply for motorcycle title loans in San Jose online via the form on the website or over the phone via a financial expert. You need to provide some basic information about yourself and your bike and based on this, you will be offered a loan. You can then hand over your paperwork and sign the contract which you will need to do in person. You can get the cash and ride off on your bike which you can keep for the entire period while you repay the loan.
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*EFFECTIVE 8/22/16 , MONTANA CAPITAL WILL BE FUNDING NEW LOANS FOR QUALIFYING APPLICANTS WHO ARE SEEKING LOANS FROM 5 STAR LOANS, 5 STAR LOANS WILL NO LONGER OFFER NEW LOANS OR REFINANCE EXISTING LOANS, AND ALL CALLS TO (888) 309-0994 WILL BE TRANSFERRED TO MONTANA CAPITAL FOR RESPONSE.