Using a Car Title Loan for a Bike or Moped

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A bike or a moped could be a great way of transportation, especially if you are tight on cash. The price of gas keeps rising higher and higher. It is affecting us all to some degree or another. Sometimes we might not have the money to shell out at the pump and driving everywhere might become a bit too costly. When this happens, alternative means of transportation such as a moped or a bike start to look like a more viable option. If you are currently in a bit of a bind but are looking for a bike or moped to save some money, your friends at LoanMart may be able to give you the help you need getting your hands on one1.

There are a plethora of good reasons to make the switch to a more cost efficient mode of transportation. Driving to and from work as well as any other places you might have to go on an average day costs a great deal of money. More than you might think.

As of 2017, Americans are spending an average of around $1,400 on gas per year. While this is less than it was a few years ago (in 2014 the average was a little under $2,000), the cost is still noticeable and is taking away hard-earned dollars from paychecks every week.

Putting the cost of gas aside, it costs a pretty penny to own and drive even an average sedan. You still have to factor in the piling up costs of other expenses such as maintenance for the vehicle, those pesky occasional repairs that need to be made, car insurance, and the ever-skyrocketing cost of parking if you live and/or work in an urbanized area.

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Adding all of these costs together results in an average of around $9,000 a year to own and operate a car. Keep in mind, as mentioned earlier that is just for your average run of the mill sedan. Owning a different kind of car, SUV, truck, etc. could end up costing you even more than that.

That said, looking into an alternate means of transportation such as a bike or a moped may be the best option for you depending on your current circumstances.

Health Benefits of Bikes

Not only can a bicycle save you some serious money on fuel and repair costs, but it has several health benefits as well, such as:

  • Burns as many calories as jogging, but with fewer negative impacts on the joints.
  • Improves cardio-vascular and aerobic fitness.
  • Lowers blood pressure.
  • Boosts energy.
  • Builds muscle.
  • Improves coordination.
  • Reduces stress.
  • Alleviate symptoms of depression.
  • Improve sleep patterns for those with insomnia.
  • Reduces anxiety.
  • Boosts self-confidence and overall mood
  • Improves memory and learning, sharpness, and overall brain performance

However, if for whatever reason a bicycle is not a viable option for you, then a moped might be more your speed.

Perks of Having a Moped

While mopeds may not provide any health benefits like bicycles do, they are still a convenient mode of transportation that can save an enormous amount of money every year over driving a car everywhere.

Mopeds can alleviate your financial concerns because:

  • A 50cc engine moped will get you close to 100 miles per gallon, more than five times the amount you get with an average vehicle.
  • You can get a relatively new motor scooter for close to $1,000 depending on where you look.
  • On average, gas costs only $20 a month.

Though neither of these options cost that exorbitant of an amount of money to acquire, you might still be in a position right now where you might not be able to come up with the money to buy either one of them as soon as you would like or need to. This is where LoanMart comes in for car title loans in Miami and many other cities.

Why LoanMart?

LoanMart might be able to give to you in as little as a single business day3 a car title loan for up to $30,0001. This could potentially cover any and all expenses involved in getting yourself set up with a nice reliable bike or moped—making your journey to savings and possibly better health get that much quicker of a start.

Instead of having to come up with the money to pay for a bike or moped all at once, LoanMart would essentially be giving you the opportunity to make gradual payments on your new, more efficient mode of transportation in a similar way to what you would do for a car.

When entering into a loan with LoanMart, you do not have to relinquish your vehicle until you repay your debt. During your loan’s repayment, you still drive your car so long as you keep up with all of the convenient payments. You only give up your car’s title as the collateral.

Do not sit around waiting any longer to make this move that can start saving you some serious money every year. You can be thanking yourself later, if right now you sign up for car title loans from LoanMart today at a local participating store, online, or call LoanMart at 1-877-787-4923.

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