If you’ve asked yourself, “Can I get a motorcycle loan?” the answer is probably “Yes,” although there are a few qualifications that are required.

One of the best benefits of a motorcycle title loan is that a high credit score isn’t one of the requirements. You’re using your motorcycle as collateral for a secured loan, which means it’s easy to apply for. Even if you have no credit at all, you’ll probably still qualify.

Need some fast cash? It doesn’t take very much time to apply for a motorcycle loan either. You’ll find out fast whether you’re approved or not.

Here’s a full breakdown of the qualifications needed for this type of loan.

Basic Motorcycle Loan Qualifications

You have to be an adult to get a motorcycle title loan. Anyone under 18 years of age won’t qualify.

You’ll also need a valid state driver’s license.

One final requirement is a title for your motorcycle. Be sure it’s clean, meaning valid and without a lien on it. You can’t use your motorcycle as collateral if you don’t own it outright.

A clean title also means that it’s not a salvage title. While a salvage title for a bike is rare because they don’t usually fare well in a wreck, if you have that rarity, it won’t be a bike you can borrow against.

Verification of Income

Not everyone who qualifies for a motorcycle loan will need to provide verification that they have an income, but some will. This doesn’t necessarily mean that they’ll need to prove they have a job. Other forms of income will work, like social security or other benefits.

If you have this information when you apply, you’ll be prepared. Even if they don’t end up asking for it, it’s good to have it with you when you fill out the forms.

Other Things to Know

Some states don’t allow title loans, so do your research. While many do, you may live in a place where that’s not an option for you.

Your motorcycle’s value will determine how big of a loan you can get for your motorcycle title. The lender will ask you to bring the motorcycle to their office to do an appraisal. They’ll let you know what it’s worth and how much they can approve your loan for.

Are you still asking yourself, “Do I qualify for a motorcycle loan?” For more information, click to learn about this type of loan.

Best Way to Fast Cash

Many people can handle an emergency expense when it arises, but if you have more than one in a year, you may be out of luck. Yet you can probably use your bike as a fast path to a loan when you need to pay for an emergency expense.

With the limited qualifications above for a motorcycle loan, this could be the right solution for your financial troubles. Once you pay your loan off, you’ll get the title to your motorcycle back and be free and clear.

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