04 Jul 2018   /   0 comments

How to Pawn a Car

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We understand that the need for emergency cash could arise at any time. So whenever you find yourself out of cash and require instant money, a title pawn can be your trusted source for immediate money needs. You can get a title pawn on your car, motorcycle, truck or RV with loan amounts from $26000 to $50,000 with the freedom to drive your vehicle. You get up to 90 days to repay the loan through convenient payment terms. Once you repay the loan amount, your vehicle will be lien free.

When you have unexpected expenses or need money to cover utilities or other bills, pawning your car title could be an easy way to get cash without going through the process and uncertainty of applying for a traditional loan. It allows you to take out your car’s equity, while keeping the use of your vehicle. Once you’ve pawned the title to your car, you will be required to make monthly payments on the value of the title until you’ve paid back the amount of the pawn, often with additional interest.

If you’ve decided to follow this route and are wondering, “How do I pawn my car title?” here is a short, general outline of the process to pawn a car title.

The requirements for pawning your car title vary slightly from state to state, but the overall process is simple. To pawn your car title, you’ll generally need these things:

Let us now look at the more general and explicit details of what you need to Pawn Your Car

Getting good cash can be difficult, and getting cash quickly can be just as hard. Getting both would be downright impossible if vehicle pawn loans weren’t available.

Luckily, a car has enough value to pawn for most emergency money needs. Car pawn loans are a great way to get a fast influx of cash without permanently giving up your vehicle, and it is a relatively simple process. There are just a few things you’ll have to provide:

Vehicle you want to pawn.

As long as you have ownership of the vehicle and the vehicle is in your possession, you will be able to pawn your car to get cash, and quick!

The amount of your loan is up to your vehicle’s market value, which we can determine for you.

Title to the vehicle in your name only.

You’ll need the pink slip or title to prove ownership of the vehicle. The title should be lien-free and in your name.

You must be the legal owner. This means the car truck or motorcycle needs to be paid off. If a family member owns it, have them come in with you so we can get the process underway.

If there are any issues with ownership, the California DMV is available to help out. Contact your local branch to straighten out any issues.

Government-issued ID. Driver’s license is best.

A driver’s license shows who you are and that you are legally allowed to drive. It’s probably the best option when pawning a car. It’s important that the ID is government issued – this is absolutely necessary.

Proof of insurance.

Proof of insurance is another way to identify full ownership of the car. However, you’ll have to provide this in conjunction with the rest of the items – it won’t substitute for government-issued ID. This proof helps the shop provide a full pawn loan and get you set with cash in under an hour!

Many car title loan companies require that you own your car outright, without other liens or title loans. Proof of income may be employment, Social Security, pension, or another dedicated source of income. This is to be sure you have a means of paying back the value of the pawn. They may also ask for supporting documents, such as a utility bill to verify your address. Once you’ve gathered all of your documents, take them and your car to a title loan company. Car Title Loan has more than 1,000 locations around the country. We also give you the option of applying for your loan online to save you time and gas.

At the car title pawn location, your car will be inspected by a sales associate. The make, model, year, and condition will be assessed and used to determine the value of your pawn. The value of your car is often based on the value as determined by the Kelley Blue Book. When you take your car to Car Title Loan, one of our friendly, trained associates, will give your car an appraisal in as little as 5 minutes. Your loan amount will be determined based on your specific cash needs and the value of your vehicle. After the amount has been decided and you’ve agreed to the terms of the car title pawn, you’ll receive the full amount of the pawn, usually in the form of a check. Car Title Loan will give you your cash, and you get to drive away with your vehicle.

Some things to remember when deciding to pawn the title of your car:

  • The value of your car is based on many different factors, not just the Kelley Blue Book value.
  • When you pawn your car title, the company applies interest to the amount.
  • You may be required to carry additional insurance on your vehicle for the duration of the pawn.

At Car Title Loan we understand that so many obstacles comes in a man’s life time. Medical emergencies, unforeseen home repairs, unemployment… all these things can play havoc with your finances and leave you feeling stressed. Poor credit history is a roadblock when applying for a traditional loan from a bank, and approval can take time you don’t have.

Car Title Loan is here to help you get back on track by opting to pawn; car titles are often a lesser inconvenience that other items when it comes to collateral. Our nationwide lending company can get you money fast using your car title as collateral. The best part is you get to keep the use of your vehicle. Once you’ve finished with your payments, Car Title Loan will immediately return your title. We believe in making the process of pawning your car title as easy as possible, so you have one less thing to worry about. We offer customized payment plans that work for you to make your payments and recover your title quickly. Fill out our online forms or go to one of our friendly locations and get the cash you need today.

Car Title Pawns By Car Title Loan

Just like a title loan, a title pawn uses your vehicle as collateral. At Car Title Loan, your car title is your credit. Rather than looking into your past and digging up a bad credit history, we just use your car title in place of your credit when we do car title pawns.

We understand that unexpected things happen: medical emergencies, house repairs, job losses, etc. The list of life’s obstacles goes on and on. A lot of times, the things that cause people to have bad credit are out of their control, so we don’t think it’s fair to hold that against you, unlike other lenders who offer payday loans or cash advances for smaller amounts of money with high interest rates. You may have never thought you could pawn a title to a car before. Car Title Loan offers car title pawns that come with competitive interest rates and convenient payment options. You can even start your title pawn online today.

All credit is accepted, so you could be approved for your pawn even if you have bad credit. Plus, you get to keep driving your car throughout the duration of your title pawn. This way, you get to carry on with your day-to-day life without experiencing any major disruptions thanks to your car title pawn.

In summary, below is a simple step on How to pawn your car

  1. Prepare At Home

  • Your car must be fully paid
  • The owner of the car must apply for the loan and sign the agreements
  • Submit information on-line or phone our call center.

 

  1. Get Your Documents

  • Copy of your ID and proof of residence
  • Original registration certificate of the vehicle

 

  1. Come to Our Office

  • Bring the documents and the vehicle for final evaluation
  • Read, complete and if happy, sign the loan agreement
  • A transfer is made to you electronically.

 

  1. Get Your Car Back

  • Pay the monthly interest charge as per the agreement
  • Pay the capital back as per the agreement
  • Once money reflects in our account, collect your car title and related documents.

Benefits of Pawning Your Car

If you need bridging finance to see you through a short-term cash flow problem, pawning your car – or another vehicle, from a bakkie to a caravan or even a boat – may be the solution. Here’s why.

Fast access to cash

Other types of loans, including traditional bank loans, can take weeks to secure. You may need to complete detailed forms, find and submit supporting documents, attend an interview and wait for a lengthy approval process to be completed. Even once a loan has been approved, it may take a few days before it reflects in your account.

In the case of pawning a vehicle that’s in your name, you could have the funds you need in your account on the same day you apply for a loan.

Credit Doesn’t Matter

Pawning your car is an example of securing an asset-based loan. Because the asset (your vehicle) serves as collateral for the loan, the lender has less interest in your credit record, financial history or other financial information.

This means that if, like millions of other citizens, you have an impaired credit record, and it won’t affect your ability to secure a loan. It also won’t affect the loan amount you’re offered, which will depend purely on the value of your vehicle. A credit check will be carried out but it will not stop you from getting the loan that you want.

You won’t be called upon to explain or justify your spending habits or your current financial situation. That is your business, not the lender’s.

Eliminate Stress

We know that life can get hard at times. If you are going through financial hardship, a cash title pawn can help you get back on your feet. You don’t have to live with extra stress when you are in need of quick cash. Using a car title pawn to pay off your expenses will help gets rid of that burden so you can return to your daily routine as quickly as possible.

We hope that you understand that auto title pawn can help you get the cash you need. Of course, if you have more questions, we’re happy to help.

Confidential process

With Car title pawn, the process of pawning your car is completely confidential. We don’t supply credit bureaus, financial institutions or anyone else with information about the transaction, which is purely between you and us.

You don’t have to sell

It’s never ideal to sell a large asset, like a vehicle, in a hurry or because a cash-flow situation is making you panic. This could mean losing out financially because of a rushed sale. Also, you might regret parting with a vehicle later, when you really need it.

An advantage of pawning your car is that once you’ve repaid the loan amount with agreed interest, your vehicle will be returned to you, in the same condition you left it.

Conclusion

You will have 30 days to pay off your title pawn. If you need to extend your auto title pawn beyond that for any reason, our friendly staff will be happy to discuss all available payment options with you. With over 150 locations offering title pawns across the state Car Title pawn makes it easy to pawn a car title for cash!

Now, if you’re reading this and you’re kicking yourself for getting a title pawn with a company other than Car title loan don’t be discouraged: We can still help you. We have been doing car title pawns for years, so we have methods we can use to get you the cash you need. Car Title Loan may be able to pay off your current title pawn and refinance it with a lower interest rate. So visit your neighborhood pawn store today and let Car Title Loan put cash in your pocket with a car title pawn. Get started online today!

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