Can I Use a Motorcycle as Collateral for a California Bail Bond?
The higher the bail bond you require, the more likely it is that we’ll ask for some sort of collateral to secure the bond. If you’re wondering if you can use the fancy motorcycle in your garage as collateral, you’re not alone. We can’t count the number of clients who have wanted to motorcycles to secure a bail bond in California.
The short answer is yes, motorcycles as collateral to secure a bail bond, but that doesn’t mean it will work in your case.
Since you’re using the motorcycle as collateral, we need to make sure that it is near to the value of the bail bond you need. If the motorcycle doesn’t have a high enough value to match the amount of the bail bond, you may be able to post it as part of the collateral, but you’ll need to come up with something else to use that makes up the difference.
The second thing that must happen before your motorcycle can be used as collateral for a bail bond is owned outright by you. If you’re making payments on the motorcycle or if you co-own it with someone else, we won’t be able to accept it.
One of the biggest worries we encounter when someone decides to use their prized motorcycle as collateral is that they are worried they will never get it back again. It’s important to understand that you’re not selling the motorcycle to us; you’re simply using it to secure a loan. As long as you attend all of your court appearances, you will remain the owner of your motorcycle.
What you won’t get back from us is the fee we charge in exchange for posting a bail band. This fee is 10% of the bail bond. So if you require a $40,000 bail bond, the fee we’ll charge you is $4,000. This money is used to cover our operating costs. If you can’t afford to pay the entire sum right off the bat, that’s okay. One of the reasons so many people turn to us for a bail bond following their arrest is that we have created an outstanding, zero-interest payment program.
If you’ve been arrested and are worried that you can’t post your own bail, feel free to contact us. We’re available 24/7. All consultations are free.
How Does a Zero-Interest Bail Bond Benefit Me?
There are many advantages connected to turning to Red Rover Bail Bonds when you’re arrested. One of the ones that you may not know about is our zero-percent interest payment plan. For many people, the zero-percent interest programis the main reason they are able to afford a bail bond and be released from jail. If they had to come up with the money needed upfront, they would never be released before their day in court.
The first thing you need to know about our zero-interest bail payment program is how we determine how much you owe us. We have a very simple method for deciding how much money each client needs to pay in order for us to post a bail bond. That amount is 10% of the bond fee. If you require a bail bond of $2500, you will have to pay us $250.
There are some exceptions. If you’re hiring a private defense attorney, a member of the military, or an AARP member, you’re entitled to a 20% discount.
Once we know how much your bail bond will cost, we sit down and have a frank discussion about how much you can afford to pay and how frequently you can make payments. We are happy to customize our payment program for every single client, which makes getting a bail bond an option for more people. Further action we’ve taken to make a bail bond feasible for everyone is not requiring a down payment.
Want to learn more about our zero-interest payment program so that you can decide if it’s a good fit for you? All you have to do is contact us for a free consultation.
As proud as we are of our interest-free payment plan, we are very happy to report that it’s just one of the many perks you’ll enjoy when you become our client. Additional perks included are the following:
- Complete discretion
- Simple bail bond contracts
- 24/7 service
- Phone consultations
- Online consultations
- Fast service
- Zero worry about hidden fees
- A willingness to answer all of your questions
We’re available to help you 24/7. Not only are our consultations completely free, but they’re also informative. Whether you’re calling for yourself or contacting us about one of your loved ones who has been arrested, you’ll feel better after you talk to us and fully understand how zero-interest bail bonds work in California.