22 Jan Pawn My Car for Cash
There comes a time in most peoples lives when they’re absolutely strapped for cash.
This is caused due to several reasons, the most popular being:
- End of Year Expenses
- Car Repairs
- Medical Bills
- School Fees
These of course are only the popular reasons, many more exist and probably too many to list here.
What is certain however no matter the reason, is that you need fast access to cash.
A question many then ask is “Can I pawn my car for cash?”
Now this is a two-fold answer as technically you will not receive cold hard cash when pawning your car as there are simply too many risks involved.
If car pawn companies started handing out piles of cash to everyone it would not take long before they were made a target by undesirable types looking for quick scores. Armed robbery is no joke and no fun for anyone.
This means you leave the loan company with funds in your account (typically in under 30 minutes).
So how does it work?
The process to get cash against your car or rather a loan, is very straightforward.
You book an appointment or visit a local offer with your car.
A loan officer will assess the car and look at the make, model, mileage and overall condition.
They will then look at the book value for the car and make you a loan amount offer.
You can accept or decline the offer.
The majority of loans done this way are short term loans of 30-60 days, but longer periods can be negotiated, but remember the interest is charged monthly.
Another point worth mentioning is that you can keep your car and still drive it or choose a Pawn to Stay loan which means we keep the car in a secure facility.
The difference between the two is a slightly higher interest rate when you keep your car, as we take more risk in this situation.