January 24, 2020 - Vehicles
It’s that easy! Your bike is an asset that can be used as collateral for a pawn loan in a simple process. We always recommend using PawnGuru! This approach makes hunting for the best deal with the most money straightforward and quick.Get the Cash You Need Fast
Life has potholes. Sometimes, you can’t swerve and avoid them. Unexpected expenses like medical bills, student loan debt, and other bills often come out of nowhere. If you’re thinking of pawning your motorcycle, this might be the most expedited route to getting money. You don’t have to outright sell your motorcycle—unless you want to—and you can get cash in your hands that day.
Pawning a motorcycle is like pawning a car title. You will need a clean title & valid government-issued I.D. Depending on state laws, and the pawnshop dealer, most shops allow you to pawn your motorcycle only if the bike is paid off, without a lien on the title.
Once you find the best deal, your bike will be appraised in minutes.
The contract will be written, and you’ll receive your money. Meanwhile, your bike will be stored by the pawnshop in a safe and secure storage facility. You’ll have an agreed upon amount of time to pay back your loan, called the term length.
If you decide to keep the money, no problem! If you want your bike back, you’ll have the time to secure your finances, then return for your motorcycle. No damaging credit checks or unnecessary wait-time!
You can pawn any make and model of bike. Pawnshops love anything from custom bikes like American Choppers to Honda Sports Bikes. Harleys always make a great pawn because of the vast market and demand for the brand. You can even pawn a moped or motor scooter!
The first step is listing your motorcycle on PawnGuru for free. This site makes pawning any item a breeze. Simply list your motorcycle, answers a few questions, and pawn shop dealers will email you their offers.
This way you can peruse through offers quickly. This speeds up the process and cuts down hugely on wait time to get your money. Instead of taking your bike all across town, list it once! This way, the pawnshop dealers come to you. Not the other way around!
You can also buy or sell any item on PawnGuru—getting the best offers!
When it comes to pawning any item as collateral, you’ll want the item to look well-maintained, primed for the best deal. When your bike is clean & polished, has a recent service, with all the proper documentation organized, this upgrades the amount of money you can get.
You’ll want your bike to look as close as possible to the day she looked in the lot when you first bought it. Give your bike a good scrubbing to remove all the dirt picked up from the road. This will give your frame and gas tank a restored shine while also boosting offer prices.
Clean the area underneath your seat where debris cakes up. Make sure any calcium build-up on the battery terminals has been wiped away. Finally, polish rust from the chrome and metal parts of your bike like the exhaust pipe or footrests.
A quick-cleaning is well worth the effort when it drives up the price of your pawn!
Whether your motorcycle is your main mode of transportation, or you use it for pleasure and she sits in the garage most of the time, you’ll want to have a recent mechanical check-up. A mechanic will cover the battery, oil, chain, tire pressures, and will have a look at the engine. If any integral parts need to be replaced they can either alert you or make sure the part is replaced.
You don’t have to spend a fortune on a mechanic check-up. A thorough maintenance will do. Once your mechanic has cleared the motorcycle, make sure you get a receipt for proof of work. This assures pawnshops that your motorcycle is in optimal shape and drives its value up.
For the biggest cash offer, make sure you have proof of ownership, service records, and warranty. These records will streamline the process and pawnshops can’t do business with you unless you have the proper documentation. This is against the law. If you need help procuring documents, a reputable pawnshop dealer will point you in the right direction.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles