Do you have an option to cling to when you’re surrounded by life’s challenging situations wherein you need cash urgently to fulfil your obligations? Well, you surely have an option that will work even if you have a bad credit or bankruptcy. And the option is auto pawn loans…
When you are trying to get things back to normalcy, an auto pawn loan is the only option that can provide you with fast cash evading the long process and volatility of applying for a conventional loan.
Fine, if you’re contemplating to opt for an auto pawn loan then make it a point to read this simple guide before you venture out for availing auto pawn loan.
WHAT AUTO PAWN LOANS ARE AND HOW THEY WORK?
To avail an auto pawn loan, you’ll have to bring You will be given cash your automobile whether it is a Car, SUV, Ute, Van, Truck or any other vehicle of value to the auto pawn shop. The expert staff at the pawn shop will evaluate the value of your vehicle and offer you a price. If you agree to their offer price, you will be given cash instantly and in return, you’ll have to place your vehicle in the custody of the pawnshop as collateral. Yes, you have read it right, “You will be given cash immediately within minutes of the evaluation process and filling out a simple form”.
CLAIMING YOUR VEHICLE’S OWNERSHIP BACK
You can pay off either on a monthly basis or at the end of the term, which generally is three months. Once you fully pay the loan back with its interest, you’ll get back the ownership of your vehicle.
WHAT WILL HAPPEN IF YOU DEFAULT YOUR AUTO PAWN LOAN?
If at all you default your auto pawn loan, your credit won’t be affected but your pawned vehicle will be retained by the auto pawn shop. Your retained vehicle will then be sold in the open market by the auto pawn shop so that they can recover the loan amount along with the interest also booking a small profit so that they can survive in the pawning and private money lending industry.
WHAT IS THE ELIGIBILITY CRITERION?
To avail an auto pawn loan, you’ll need the below-listed:
- Your vehicle as collateral
- Vehicle’s ownership documents or Rego papers
- A valid photo identification
KEY BENEFITS OF AUTO PAWN LOAN
- You can qualify if you have a vehicle – Your vehicle is used as collateral for granting you, an auto pawn loan. So you can qualify for an auto pawn loan if you have a car, SUV, Ute, minivan, motorcycle, truck, boat or Jet Ski.
- Your credit status does not matter – As auto pawn loans are purely based on collateral, credit checks aren’t required. Thus, it becomes simpler to obtain no credit check pawn loan even if you don’t have a decent credit standing.
- Get rid of the anxiety – At times, life can throw many surprises. And if you’re passing through financial adversity, a pawn loan from pawnbroker can be the way to go.
- Fast cash & hassle free process – One of the major benefits of auto pawn loan is that they are very fast and hassle-free. The process is easy and can be completed in a matter of minutes. Once you submit your duly filled form and hand over your vehicle, you can get the cash on the same day.
The Bottom Line
Don’t live with that extra stress when you are in need of some quick cash! Cash fast loan from auto pawn shop can facilitate you to pay off your expenses and help you to catch up with your everyday routine at the earliest.
That’s how you can avail an auto pawn loan when you’re in need of some urgent cash. Sure, if you have any further queries, we’re more than happy to assist you. Just give us a call at Cash Fast Loans on (02) 9630 6613.