When people talk about collateral for a bail bond, they're usually talking about a house or a car. But what about a motorcycle? A motorcycle is an asset, which means you can theoretically use it to secure a bond.
Anything With Value Can Be Used to Secure a Bond
That includes boats, RVs, campers, large equipment, and—yes—motorcycles. You need to have equity in the item that you're using to secure a bond, though. If you owe $10,000 on your motorcycle and it's worth $12,000, you aren't likely to have enough equity in it to secure a bond.
When looking to secure a bond, think of everything that you have that has value. That includes things like jewelry, antiques, or other family property. Collateral isn't like a bond payment: you'll get it back as long as your loved one goes to their court hearings.
Bail Depends on the Bondsman
If you're securing a bond directly with the court, then the court itself will decide whether the item counts. If you're trying to pay bail through a bondsman, on the other hand, it's going to depend on the bonding company. Some bonding companies prefer not to deal with a lot of collateral. Others will deal with almost anything.
The issue for bondsman is that some things are more difficult to sell than others. While they may be able to resell a boat, they probably won't be able to resell a diamond ring (diamonds have almost no resale value). But motorcycles are relatively easy to sell, so a bondsman can feel reasonably confident.
Anything Can Be Lost If Your Loved One Skips Bail
It's important to keep in mind that anything you put up for bail can be theoretically lost if your loved one skips bail. Consider whether you're willing to lose the item that you're putting up, and plan accordingly.
You may not want to put up your home. In the unlikely event your loved one leaves, your home is a big thing to lose. A motorcycle, boat, or even car, on the other hand, is something you can recover from.
In short, you can use pretty much anything as a bail bond, as long as the bondsman agrees to it. Don't assume that something is too outlandish to use: as long as you have the paperwork and documentation to prove that it's yours, it's a possibility. You may need to contact multiple bondsmen to work out a good deal.Share