What is a Title Pawn?
Similar to Car Title Loans, Title Pawns use your vehicle as collateral. Title Pawn lenders consider your car title rather than credit history or credit score to provide you with the necessary money.
Title pawns offer instant cash at competitive interest rates and convenient payment options. You can apply for a Title Loan online now and get the cash the same day.
How Title Pawns Differ from Title Loans
The main difference is that title pawns require your car as collateral while title loans let you keep the car while repaying the money. Pawning the car is close to selling it.
As a result, Car Title Pawns are easier to get. The requirements are much simpler – you don’t even need proof of income or insurance. Lenders have your car as a pledge and don’t actually risk losing their money. The terms are for about 4 months. If you don’t pay the loan back, the lender can sell the car in order to cover their losses.
What is Pawning?
Pawning something means taking it to a pawn shop and getting cash instead. The item is held by the shop owner till you repay the cash together with some interest.
When you pawn a car you take it to the lender and get the cash amount based on the value of your car.
The upside of title pawns over title loans here is that you are not required a lien-free car title. You can get it even without a car at all.
How Title Pawn Loans work
Let’s find out how the title loan works. Title Pawn Loans have a similar process. Though the name of title pawns suggests that you have to visit a pawn shop, it’s actually wrong. You can get the loan completely online with no store visit.
You fill out a short application form online and get financing g within 30 minutes of loan approval.
How to Pawn a Car Title?
You just fill out a simple online application or visit a loan store to pawn your car title to get a loan with no credit check, no extensive paperwork, no faxing, etc.
After pawning the vehicle title you can take out your car’s equity and keep driving your car. Since then you’ll need to make monthly payments on the value of the title until you’ve paid back the amount of the pawn.
What do I Need to Qualify for a Title Pawn?
Similar to title loans, title pawns require just a lien-free car title in your name which means that you are not repaying any other loan on your car currently. The other documents include your driver’s license or government-issued I.D.
Once you have all these ready, just complete the application form online and get the money.
Applying is safe with 100% confidentiality of your information.
Can I Pawn My Title?
You can pawn your car title if you meet the following requirements:
- You own your car.
- There is no equity in your vehicle.
- You can afford to repay a title pawn on time.
- Interest on the loan won’t ruin your budget and won’t lead to more debt.
- There’re no other alternatives to getting instant cash.
Can I Apply For Title Pawns Online?
Sure, you don’t have to visit a store – everything can be done completely online. At first, you fill in all the necessary information online and then the manager contacts you and you finalize the loan by phone.
Benefits of Online Title Pawns
- You apply completely online or by phone with no store visit
- You keep driving your car while paying off the loan
- The money is deposited into your bank account on the same day
- There’s no credit check required
- Bad credit is not a problem either
Title Pawn FAQs
How to get a Car Title Pawn?
To get a Title Pawn you need a clear car title and valid government-issued ID, such as your driver’s license, for example. Approval is guaranteed even with bad credit, or no credit at all.
How to repay Title Pawns?
In most cases, you will have about a few months to repay your title pawn. If necessary, you can extend the terms. There’s also a Title Pawn refinance option at lower interest trates and better terms.
What are the benefits of getting a Title Pawn?
Here are just a few of the advantages Title Pawns offer:
- Affordable interest rates
- Any credit score welcome
- Quick financing
- 24/7 customer service
- You keep driving your car
- Various payment options
- Fast and easy online application
What are Title Pawn requirements?
The requirements for a car title pawn differ a bit from state to state, but the basic criteria require the following things:
- Your car
- The lien-free auto title to the vehicle whose owner is you
- Government-issued ID, like a driver’s license or state ID
- Proof of income (it may be employment, Social Security, pension, or another dedicated source of income).
How to pawn a Car Title?
Apply online or visit a pawn shop. At the car title pawn location, have your vehickle inspected by a sales manager. He will assess the make, model, year, and condition of the car to determine the value of your pawn.
Your car will be evaluated in a few minutes and you’ll find out what amount you can get. If you agree with the loan terms and conditions, you’ll get the Title Pawn by check, or in cash same day.
What to watch out for when pawning a Car Title?
There’re some things you should know before you apply for a Title Pawn:
- The value of your car can be based on different factors
- Interest is applied to your title pawn amount.
- Additional insurance on your vehicle may be required for the terms of the pawn.