Have you ever been curious about how to pawn a motorcycle? Perhaps you’ve thought about selling your old chopper and seeing what you can get for it.
If so, then your results vary on how well you follow the process. The motorcycle pawn sales tend to favor the diligent.
In other words, you want to be exhaustive in making sure you’re using the right avenue to sell it.
So… how can you be sure that you’re following that path? Easy!
Simply follow along with these guidelines and you’ll have a great experience. Better yet, you’ll wind up with the most cash possible!
1. Find the Title of Your Motorcycle
Just like selling a car, your motorcycle pawning endeavor will be futile without handing over your title.
Without the title, you can’t legitimately prove that you own the chopper as you claim to. Because of that, even the most interested of buyers will have to decline your offer to sell.
Pawnshops simply want to know that you are the sole owner of your bike. If someone else has a hand in it, then it won’t be worth their time as it’s not feasible for their business.
To avoid any further complications, have the title of your motorcycle in-hand throughout the rest of this process. Also, it’s important to note that there are ways to get your title if you’ve lost it.
2. Clean Your Bike
While it’s true that pawnshops and used bike buyers can see the value through a dirty bike, you still want to put your best foot forward.
Cleaning your motorcycle can be the difference in making or missing out on several hundred more dollars.
Start by scrubbing away all the dirt and grime that you can see on the body, tires, and visible parts. Do your best to also scrub away at all the crevices of your bike where dirt can get lodged into. Areas such as your seat, throttle, and dashboard.
Also, take the time to give her a rinse and polish the shiny silver parts such as the exhaust pipe and front fork.
Remember, you don’t have to be too exhaustive. By simply giving the motorcycle a thorough once-over, it will look years younger!
3. Have It Inspected
It doesn’t matter whether you ride the bike all the time or save it for the occasional sunny day joyride, be sure to have it inspected.
Even though you’ll be pawning it, you want to be educated on the current condition of your motorcycle. It might also help you understand what it would cost to repair any issues they find.
Knowing the high repair costs might further justify any low-ball offers you get from a pawnbroker.
While you’re having the checkup performed, be sure to apply proper maintenance to get it in tip-top shape for selling.
Be sure to be as transparent as possible with the pawnbroker. An issue or two won’t deter them from making an offer. But if they find the issue on their own, they may not make an offer at all.
4. Consider a Motorcycle Pawn Loan
If selling your motorcycle is an attempt for financial help, then it might be hard to let it go.
As much as you might need the money, you don’t want to give away your motorcycle if you don’t have to.
If that’s your situation, then you should know there are other options out there for you.
You can apply to receive a motorcycle pawn loan, which will help you receive the money that you need right now and the opportunity to keep your bike.
The way it works is simple. As long as your bike meets a certain price threshold, you can trade in your motorcycle for immediate cash. The bike will be stored at a secure facility until you’re able to fully pay off the loan.
Better yet, you can receive this loan without any prior credit history and have cash-in-hand when you need it most.
Be sure to consider all of your options as you go through this process. If this is purely an effort to get more cash now, then a motorcycle pawn loan is your best option.
5. Have Proper Documentation
No matter what method you use for pawning your motorcycle, you’ll want to make sure you have all the right documentation on-hand.
You’ve already got your motorcycle title, but you’ll also need proof of prior service and any warranty that you have on the bike.
You might also consider gathering paperwork for any modifications that you’ve made to improve the aesthetic or performance of your motorcycle. Having those might help you receive a higher offer on it.
6. Sell or Pawn?
The choice is entirely yours. Different situations will point different owners down their respective paths.
If your bike has become a burden on your life or isn’t being used, then you might lean towards selling it in order to move on.
However, those of you that are purely selling it for cash (as much as you might not want to), then pawning it is the better choice.
How to Pawn a Motorcycle: Take Pride in the Process
Now that you’ve seen how to pawn a motorcycle, be sure to take your time and carefully walk through each step.
More importantly, consider which method of receiving payment is right for you. Only you know which way you’d prefer to go about it.
Be sure to browse our website for more articles on loans, as well as many other helpful topics!