What is a #
A motorcycle loan (or motorcycle collateral loan) is a type of secured loan. To qualify, you simply need to use your motorcycle as collateral. The lender will put a lien on your motorcycle until you have fully repaid your loan.
What happens to the #
When getting a motorcycle loan, you must hand over the keys (literally) to the lender. When getting a loan, you necessarily have to surrender your motorcycle.
Simply put, nothing will happen to your motorcycle as long as you are consistent and on-time with your payments. You can only lose possession of it if you fail to comply with the terms of the loan agreement.
Many borrowers are excited to find out how much cash they can have when they take out a motorcycle loan. The amount of the motorcycle loan will depend on the value and condition of the motorcycle.
What benefits do you get out of motorcycle loans? #
There are so many benefits to taking out a motorcycle loan, but the most notable is that you can get quick cash when needed. There are also no restrictions or rules on what you can do with the money from the loan, unlike some loans that are only granted for a specific purpose. Lenders will never care how you spend the money as long as you pay it back diligently.
Another benefit is the fast processing time. Lenders process motorcycle loans. Lenders process these loans quickly. You will no longer have to wait a long time to get the cash you need.
What company offers the best #
In the Philippines, lenders are everywhere. But one of the most reliable and established companies is M Lhuillier Financial Services. While M Lhuillier can be found everywhere, the motorcycle loan is only available in all branches nationwide. Here are some important things to know in case you’re thinking of loaning your motorcycle.
Loan requirements:
Customer's vehicle with a standard plate number
Vehicle keys
Two valid IDs
Original O.R. and Original C.R.
Conditions for accepting motorcycles:
The vehicle should be registered in the name of the customer.
The original O.R. should be updated and the C.R. should not be marked as ENCUMBERED or the vehicle should be free from all liens and encumbrances.
The vehicle should be in good condition with no extensive body damage and no disqualifying characteristics such as an extensively damaged engine or transmission. The vehicle must have no mechanical problems and be road worthy.
The odometer reading should not go beyond 80,000 km.
O.R. should not be expired during the duration of the loan.
Customers should agree with our terms and conditions.
Make and Model:
List of Japanese motorcycles which must be brand new or purchased at least two years before acceptance
Honda
Kawasaki
Yamaha
Suzuki
For a list of M Lhuillier branches that accept motorcycle for collateral, visit this link for details: https://mlhuillier.com/quick-cash-loans
M Lhuillier, the Philippines’ largest and most respected non-bank financial institution, continues to uphold its promise of being the Tulay ng PaMLyang Pilipino, with more than 3,000 serviceable locations nationwide. It continuously seeks better and innovative ways to serve its community by providing fast, easy, and reliable financial services such as Kwarta Padala, Quick Cash Loan, Bills Payment, Insurance Plan, Money Exchange, Jewelry, ML Wallet, ML Express, ML Moves, and Telco and online TV Loading.
Follow M Lhuillier Financial Services, Inc. on Facebook, or visit mlhuillier.com for more information. For inquiries, contact Customer Care through its mobile number +63-947-999-0337, +63-947-999-2721, +63-917-871-2973, +63-947-999-0522, +63-947-999-2472 or email customercare@mlhuillier.com.
