4 Factors That Influence How Much Money You Will Get For Motorcycle Storage LoansFast Action Finance
When a bad financial situation arises, most people turn to friends or relatives in order to borrow some money. This is a great thing, but obviously, they also have to provide some explanations and usually the sums of money they borrow are quite small. In a similar fashion, they might want to borrow from banks or other traditional sources, but in this case, they need a good credit card rating and a lot of patience for the fund transfer to be done. Luckily, there is an easier way to get cash these days, especially if a person owns a full paid motorcycle.
Private lenders offer substantial amounts of money through motorcycle storage loans. Basically, the 2-wheeled vehicle is stored in a protected warehouse during the loan period and the owner of the motorcycle receives money from private lenders in less than half an hour. If you are interested in how much money you can get from such secured loans then here are a couple of aspects which are important in this case.
1. The type of the motorcycle. There are many types of motorcycles out there and obviously, they are priced differently. For example, some of the most expensive motorcycles are either cruisers (or choppers) or sport motorcycles. Both these 2-wheeled vehicles can be used in order to get a motorcycle storage loan and they will be stored at a safe location until the money is paid back by the person who borrows them. In a similar fashion, other types of motorcycles are also suitable for such secured loans such as Enduro motorcycles. These bikes are used in off-road competitions, they are very valuable and obviously, the owner will get more money from them.
Still, one can also get money by placing as collateral other types of motorcycles. For example, mopeds are good candidates in this case as well as scooters, regular motorcycles, touring motorcycles and so on. When secured loans like motorcycle storage loans are requested, an expert will inspect the motorcycle in order to establish how much money the owner will receive.
2. The production year. This aspect is also very important and it will influence the overall price of the motorcycle. Obviously, newer motorcycles will bring the owners more money into their pockets, but older motorcycles are considered to be valuable as well, especially if they are limited edition or they have certain unique features. Again, an expert will establish the true value of a motorcycle depending on certain rules and regulations and also the brand of the motorcycle is important in this case too.
3. The condition of the motorcycle. There is much to discuss about this aspect, but motorcycle owners already know the main idea. Basically, if the motorcycle is in a great condition, the owner should expect to receive more money from it. That is why it is a good idea to always maintain valuable assets and fix minor damages from time to time, in order to prevent expensive repairing processes. On the other hand, if the motorcycle shows signs of damage, it will be less valuable on the market. For example, signs of damage include missing mirrors, traces of rust, poor paintjob, problems with the braking system, steering system and so on. Similarly, deflated tires, broken headlights and other types of damages will gradually lower the value of the motorcycle.
4. The size of the engine. Just like cars, motorcycles also have engines that feature various capacities. For example, mopeds usually have a small engine of 50cc with one cylinder and they are placed at the bottom of the price range. Scooters, on the other hand, can have a larger engine of 125cc or even 250cc. Sport motorcycles can also feature a 250cc engine and the owner will receive more money from them.
Still, the big money can be made with “monstrous” engines like 500cc, 650cc and even larger. These bikes are obviously very fast and quite dangerous sometimes. The owner can safely place them as collateral and receive a great sum of money from private lenders through motorcycle storage loans. With 1000cc engines, the amount of money that can be received is huge.
Additionally, it is worth mentioning that borrowing from a private lender is much quicker and easier and the whole process is confidential as well. There are no credit card checks either, the owner of the motorcycle simply delivers the vehicle and leaves with a big amount of cash in his hand.
If you would like to take advantage of such a convenient type of loan then you should contact us immediately. We will do all the required paperwork for you and we will also protect your precious motorcycle in a safe warehouse that is permanently monitored by surveillance cameras. Your main advantage is that you get your money rapidly and without hassle!