Pawn My Motorbike & Still Ride It
In NSW you can pawn a motorbike for a short term cash loan.
But, your motorbike will be stored by the pawn shop until you have redeemed the loan.
People often ask, can I pawn my motorbike and still ride it? In New South Wales a person borrowing money from a licensed Pawnbroker, must leave the asset being borrowed against -the asset being pawned- with the pawnbroker. Essentially, the loan is secured against the asset until the debt and due interest is repaid.
This is primarily why a pawnbroker is not concerned with your credit rating or credit score. The pawned motorbike is the collateral which secures the loan and pawnbroker’s risk.
Some pawnbrokers advertise in a manner to suggest that you can pawn your motorbike and still ride it, but when you drill-down you will see that they merely offer a so-called discounted car-hire rate with a car rental firm which might be of no use to you.
Nevertheless, pawning your motorbike is a fast and simple way to unlock your car’s equity to solve a short term cash-flow problem or even to take advantage of a business opportunity while arranging traditional finance at a much lower interest rate.
An alternative to factoring finance is a perfect example how small business, and in particular tradies, can use our pawning facilities to manage cash flow while waiting on payment from customers. Learn more >
It’s all about a choice of products. Pawnbroking is an ancient profession that serves a purpose. It is not meant to replace traditional financial products which are highly regulated and which are largely determined on your credit worthiness. In any event, traditional finance more often than not takes time to arrange, time which you might not have. This is why we at U-Pawn always take time to explain to customers the difference.
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Once we assess and verify the motorbike’s ownership – its registration and history – and your identification – we will let you know how much we will lend against the motorbike • the interest rate we will charge you • and the final terms of the loan.
Interest rates are calculable on a monthly basis and will be fixed for the loan contract period at the time the contract is made. The interest rate we will charge you will depend on a range of factors, including as to the amount being borrowed and value of the goods being pawned. This is called the ‘loan risk ratio‘. The higher the risk to the pawnbroker, the higher the interest rate. See more in the FAQ’s section below.
Don’t sell Your Bike … Pawn It instead
Get in touch with us today to find out how much you can borrow against your motorbike. We pride ourselves on being able to provide affordable high-value loans quickly and easily for clients needing cash fast.
We don’t just pawn motorbikes, in-fact we pawn a wide variety high-value assets, including cars, including classic, vintage and antique vehicles, trucks and boats for clients seeking to release capital instantly.
One of the most practical things about pawning something is that there’s no need for you to commit to a quick sale on your asset, which for most customers would no doubt mean selling their asset -often their pride and joy- for a lot less than it is worth. Instead, when you pawn a motorbike or similar asset you get to keep your pride and joy, permanently, getting it back when the loan is settled.
Learn more about how to pawn your motorbike >>
We’re conveniently located in Parramatta, Sydney.
To find out more just phone us to make an appointment to bring your motorbike in, or alternatively we might be able to come to you. In most cases we can give a ball park figure by viewing photographs of the motorbike.
We make pawning your motorbike easy …
U-Pawn is a high-value collateral lender specialising in pawning Cars | Motorcycles | Boats and Trucks. From time to time we also pawn Heavy Machinery | Recreational Vehicles | Caravans |Trailers | Farm Equipment and even Aircraft.
U-Pawn Pawnbrokers Licence 2PS24535 (NSW)
Frequently Asked Questions
To learn more about our pawn loans please visit our FAQs page by clicking on the button below: