At Express Car Title Loans we get contacted all the time by people who are interested in getting a loan but don’t know how the process works. Many people ask us to pawn my car title and others are looking for simple car title loans. Did you know there’s an option where you can get a title pawn loan of up to $15,000 and keep driving your vehicle? Title pawns have been around for years but they’re just now becoming more popular as a way to get fast cash within one business day.
How Does A Title Pawn Work
A title pawn is a loan where you use your car title as collateral. You can borrow a certain amount of money, depending on the value of your car. The requirements for getting a title pawn are pretty straightforward: you must be 18 years or older and have a valid driver’s license or state ID. You must also own the vehicle outright – you can’t have any liens against it. The car’s title has to be entirely paid off for any pawn shop or lender to work with you. That way they know that no other lender can claim the vehicle as their own once they have possession of the title.
If you meet these requirements, you can apply for a title pawn online or in person at a company that offers title pawns or online title loans. The process is relatively quick and easy, and you can typically get your money within 24 hours. There are title pawn shops all over the county and many of them are scattered throughout the Southeast United States. All it takes is a few minutes to fill out an application and complete a vehicle inspection. Once you are approved you can get enough cash to pay for unexpected bills or expenses.
Can I Get A Same Day Online Title Pawn Loan If I Have A Bad Credit Score?
One of the great things about title pawns is that they don’t require a credit check and most lenders will not be concerned about missed payments or overdue loans from your past. That means whether you have good credit, bad credit, or no credit at all, you can still qualify for a title pawn loan.
There are a few scenarios where a past repossession or current bankruptcy can cause you problems if you’re trying to pawn your car and take out a bad credit title loan. But those are rare and the vast majority of title pawn applicants will have no trouble getting approved even if there are missed credit card or payday loan payments in their past. The only thing that matters is the value of your car and your ability to repay the loan.
How Much Money Can I Get With A Title Pawn?
The amount of money you can get with a title pawn will vary depending on the value of your vehicle. Most title pawn companies will lend you up to 50% of the wholesale value of your car. So if your car is worth $10,000, you could potentially get a title pawn loan for $5,000. Of course, there are exceptions to these lending amounts and each situation is different. For instance, if you own a newer car that’s still being financed, the title pawn company may only offer you a loan for the amount of equity you have in the vehicle and that’s only if they offer the loan anyway. Remember, title pawns are often only offered if you have a free and clear car title or if you’re looking to refinance an existing title loan.
Applying For Title Pawns Online
Whether you’re looking for a same day vehicle pawn car or get a title loan, the process is pretty similar. You can apply for a title pawn loan online or in person at a title lending company near you. The application process is quick and easy, and you can typically get your money within 24 hours.
To begin, you’ll need to fill out an application with your personal information and details about your vehicle. Once your application is approved, you’ll need to bring in your car for a vehicle inspection. After your car passes the vehicle inspection and you hand over the pink slip you can get cash from the title pawn lender. The entire underwriting process takes less than an hour and most companies can have money sent to your bank account within one business day.
Can I Pawn My Car Title With A Local Direct Lender
Title pawn companies are located all over the country, and there are some great options if you’re looking for a title pawn near you. However, you don’t have to go to a physical location to get a title pawn loan. In fact, many title pawn lenders now offer their services online. This can be a great option if you’re not comfortable going into a store or if there’s no title pawn company in your area.
The process of applying for and getting a title pawn loan online is very similar to the process at a physical location. You’ll need to fill out an application after meeting with a local lender and they can do everything that very same day may take even longer if it was done online.
What Else To Know About A Title Pawn Loan
No matter if you’re looking for a title pawn near me or researching title pawn loans online, there are a few things you should keep in mind before picking a lender. First, title pawn loans are typically much more expensive than traditional loans. That’s because they’re considered high-risk loans and the interest rates can be very high. In fact, the average title pawn loan has an annual percentage rate (APR) of 300%. That means if you borrow $1,000, you could end up paying back $3,000 or more over the life of the loan.
Second, title pawns are only meant to be short-term loans. That’s because the car’s equity is secured by your car title and if you pawn a car title you are giving the car title and there’s always the risk of losing the vehicle because of a missed payment. Do what you can to pay off your title pawn quickly and make sure you only borrow what’s absolutely necessary!
Does a title pawn sound like the best option for your financial situation? If so, you can get started with Express Car Title Loans. We offer quick approval and same day financing for most borrowers that are seeking an online title loan or title pawn and we can also help you with any questions or concerns you have. Contact us anytime to get more information!