Three thousand years ago, peasants discovered pawnshops as places to take out loans. The concept took off, and today people exchange many things as collateral for a loan from pawnshops, they can even pawn a motorcycle.
If you want to pawn a motorcycle these tips should help you take the steps you need to get the best deal. Keep reading for some of the best tips on how to make it happen.
Need to Pawn Your Motorcycle?
Selling or pawning a motorcycle isn’t always as straightforward as you may think. It’s not hard, but it’s also important to be prepared.
There are a few things you’ll want to do before you head over to a pawnshop. Start with these tips.
Make Your Motorcycle Shine Again
You may think that since you’re turning your bike in as collateral for a loan, you can give it in its current condition. However, if it’s dirty and unattractive looking, no one will be interested in it, not even a pawnbroker. After going at it with soap and water to return it to its former luster, it’s best to take a look at some of the often-overlooked places.
For example, take a look under the seat where mud and dust like to gather. Also check the battery terminals. Make sure they are free of calcium build up.
Having a routine check-up with a mechanic is the next thing to do before you head to the pawnshop. Ensure that all the basics are checked, for example, the battery, chain, oil, and tire pressure. Then have the engine checked and replace anything that seems worn or is due for a replacement.
Once the mechanic finishes, make sure to get a receipt and any documentation related to the check-up. You’ll want to take this with you to the pawn shop.
Find Out More Information
Finally, before heading down to the shop for your motorcycle pawn, give them a call or visit them to ask questions and find out more about the process. For example, it’s good to ask what documents you need to bring for your pawn loan application.
Before you hand everything over, doing some research may help put your mind at ease. Check reviews on the pawnshop or get references from associates. Look for a shop that has been in business for some time and is experienced in motorcycle pawn loans.
Verify that the pawnshop you are going to will accept a motorcycle as collateral because not all pawnshops take them.
Documents You Need to Pawn Your Motorcycle
First things first, find your motorcycle title. If it’s lost, you’ll need to apply for a replacement. There are a few other things to have as well. This includes:
- Motorcycle title
- Mechanic’s inspections
- Records of maintenance
- Any warranties
- Records of any modifications
- License and insurance documents
- Your driver’s license
After everything is collected, you should be ready. Grab your jacket and head over to the shop to file your application.
High End Pawn has been around for over 25 years and can assist you professionally when you need to pawn your motorcycle. We specialize in vehicle pawn loans and have the experience to help you through the process.
If you still have questions, contact us today.