Hocking your motorbike for cash in an emergency situation
If you are the proud owner of a motorcycle, you know just how exhilarating it is to hit the open road. But, when an unexpected emergency situation arises and you require some quick cash, one solution you may consider is hocking your motorbike for money. While it is not ideal, it can provide the necessary funds quickly. The team at Hock Your Ride have included some tips to keep in mind if you choose to hock your motorbike for cash in an emergency.
Weigh Your Options
Before you hock your motorbike, evaluate all of your other potential choices. Is it possible to get a loan from a bank or private lender? Can a family member lend you money? If you have been rejected for finance by your traditional lenders, and you can’t get approved for finance by a private lender we are here to help. The team here understand that there are emergency situations that not everyone is financially prepared for. Keeping a good credit rating can be hard, but that shouldn’t mean if you need cash to get out of a sticky situation you don’t have help. Hock Your Ride has helped 1000’s of everyday Australian’s get finance against their bike.
Find a Pawn Shop Nearby
Hock Your Ride has a number of pawn shop locations in Brisbane, Gold Coast and Sydney. If you decide to proceed with hocking your motorbike, make sure you choose a reliable pawn shop. Hock Your Ride has been operating now for over 10 years and has plenty of experience selling them. In majority of situations you will be required to bring you motorbike to one of the closest car pawnshop locations to you for an evaluation before finance may be approved.
Prepare All Documents
It is critical to have all of your paperwork in order before visiting the pawn shop. You must have the motorcycle title, registration, identifcation and no other loans oustanding on your motorbike. All of these documents must be provided to the pawn shop if you are to hock your motorbike.
Research Motorcycle Value
Knowledge is power. Be sure to research the value of your motorbike before hocking it. Doing so will enable you to have a fair and informed negotiation. Use resources like Kelley Blue Book or NADA Guides to learn the estimated worth of your motorcycle. You might want to take your motorbike for a mechanical service and detail to maximise the value given on your motorbike. Generally any motorbikes older then 15 years will have a significantly lower value then something that is 10 years old.
Understand Your Repayment Terms
Once you have found a nearby pawn shop and have your documents ready, you can book your motorbike for an evaluation. It may be possible to receive a better deal if you offer to pay a higher interest rate or agree to a shorter loan term.
Hocking your motorbike for cash in an emergency is far from an ideal solution. Yet, it can assist in getting the required funds swiftly. Before proceeding, it is imperative to think about all available options.
Furthermore, you an count on Hock Your Ride if you decide to pawn your motorbike. To streamline the process, have all the paperwork prepared and understand the value of your motorcycle. With these helpful tips, you can hock your motorbike and acquire the money you need in an emergency with a bad credit rating and no credit check.
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