In the US, 95% of American households have a car. Considering this statistic, it’s highly likely that you own one too!
Not only do you rely on it to get you to important places, but you probably use your vehicle for leisure too.
But did you know you can use your car in other ways other than the above ones? For example, you can use it to obtain a car title pawn if you need extra money.
Are you thinking about searching “car title pawn near me”? Then you need to read this article. We’ll show you how the entire process is like!
First, what’s a car title pawn?
This is a type of secured loan. You basically use your vehicle title as collateral when applying for the loan. If you’ve ever pawned any of your other belongings, then you’ll be familiar with the process, as it works very similarly.
A vehicle title pawn is considered a very short-term loan, as you’ll need to pay back the full amount within 1 to 3 months. The exact terms will depend on which state you’re located in.
Now that you know a little bit more about car title pawns, the next thing you should learn about them is the benefits that come with this type of loan. Keep reading to see what makes car title pawns well to choose.
With other types of loans, not only is the application process lengthy but so is the approval process. What this means it may take a few days to a week for you to get the money you need.
When you need money in a pinch, that won’t do at all. You can’t afford to wait around for the money to clear.
When you apply for a car title pawn, you’ll receive a response within minutes. After you get approval for the title pawn, you’ll receive the money within 24 hours; this number can be as little as 30 minutes in some cases! This can make a huge difference when you have a financial emergency.
The amount you can borrow will depend on the value of your car. The maximum you can get is $50,000, which is a much higher amount than with other types of loans.
So not only can you get money quickly, but you can get a large sum as well!
With most other loans, you need a decent credit score to qualify for them. If your credit score is poor or non-existent, then you might get turned away from many lenders.
In this case, you may not have very many choices when it comes to lending money. If you feel like you keep hitting dead ends, then you’ll find car title pawns to be a relief.
Because you’re putting your vehicle up as collateral, lenders won’t care much about your credit score. If you default on your loan, then all they have to do is sell off your car to get the money owed to them.
When you pawn items, the shop usually keeps them until you’ve paid back the loan in full. But with title pawn loans, you won’t have to worry about that.
All you have to do is hand over the vehicle title to the lender. You’ll get to keep using your car while you’re repaying the loan amount.
Basically, you won’t suffer any losses or inconveniences when you take out this kind of loan. So long as you make your payments on time and you pay back the entire loan, then you’ll come out on top.
Are you convinced that you need a car title pawn after reading all about the benefits? Then you’re probably wondering “how to get a car title pawn near me.”
Read on to find out how to get a car title pawn loan.
We live in a day and age where answers are right at our fingertips. Use the internet to your advantage and perform an online search for car title pawn loans.
Make sure you read through all the reviews and webpages thoroughly to know exactly what you’re getting into.
Let’s say you’ve decided on TFC Title Loans as your broker for a car title pawn loan. In this case, it’s very easy to apply!
All you have to do is complete our online form and wait for us to get back to you on whether or not you’ve been approved.
If you’ve been approved for a car title pawn, then we’ll ask you to submit some additional documents. After we’ve received and looked over them, we’ll then have a company representative inspect your vehicle. The inspection will give us a better idea of how much we can offer you for the loan.
If you’re happy with what we’re offering, all that’s left is signing the documents! We’ll then disperse then money to you and you’re free to drive your car home.
Now you know what a car title pawn near me is and how to get one.
As you can see, this is a great way to get some money quickly if you need it. Not only can you get nearly instantaneous funding, but you can still continue using your vehicle.
In the end, if you’re confident you can repay this loan in full, then it’s a fantastic avenue to explore if you have bills to pay soon.
Forget about searching “car title pawn near me.” Instead, apply for one with us now. We’ll respond within minutes!