When a loan is secured, the lender has a lien on the motorcycle and can repossess it if the loan isn't repaid. Unsecured loans are personal loans based on the lender's estimation of your creditworthiness – they aren’t tied to an asset you own. If you have good credit and a steady income, it may be easier to get an unsecured personal loan, and you won't have to register the lender as a lienholder on the bike's title. However, rates for secured loans tend to be lower than those for unsecured personal loans, so you could save money with a secured loan.