A motorcycle title loan is a secured loan, just like a car loan, where you use your motorcycle title as collateral. Like an auto title loan, the lender will hold your motorbike title until you pay off your debt. The number of loans depends on the value of your vehicle. So you can get up to $10,000 with an expensive motorcycle. Lenders also call this type of motorcycle loans title pawns.
Like all other types of loans, you can borrow two motorcycle loans: installment loans and single payment loans. However, motorcycle installment loans give you a longer period to pay back your debt, up to 12 years. In contrast, a single-payment loan gives you only a month to pay back the money borrowed.