Well, first we’ll begin by understanding how a car pawnbroker and moneylender work? Borrowing money from a car pawnbroker is relatively easy when compared to a bank loan. You need to have a car, boat, truck, Jet Ski, machinery, trailer, or any asset of value against which you can borrow an instant short-term cash loan. Similar to the functioning of a bank, a car pawnbroker charges interest for the loan amount and period from the customer. And when the customer fully pays back the loan amount with interest, the item is returned back to the customer. If the customer is unable to repay the loan amount, the item is retained by the pawnbroker with the intention of selling it to prospective buyers to recover the loan amount.
Why getting short-term cash loan from a car pawnbroker is easy compared to a bank loan?
First and the most important reason is you do not have to go through the exhaustive paperwork for getting a short-term cash loan from a pawnbroker. However, to get a short-term loan from a bank requires detailed paperwork and the bank carries out credit checks.
Dealing with a pawnshop is quite simple – you do not have to fill lengthy applications and a pawnshop does not carry out any credit checks either. “You can take with you all the required documents to a bank, still you may not succeed in grabbing a loan”, said Boyce.
In just 30 minutes or less, you’ll get cash in your hands. No pre-approvals or credit checks required for availing short-term cash loan from a pawnbroker. The loan amount is often high for cars and vehicles that are a late model.
Typically, you will get hassle free cash loans ranging for 1 to 3 months (loan duration can also be extended). You get flexible loan repayment options – you can either pay at the expiry of the loan period or pay as you go. Also, there are no exit fees – you just have to pay interest for the duration of the loan.
Here are different scenarios wherein you may require a short-term cash loan:
- To keep your business running, you have to pay salaries to your employees, pay bills etc.; and at times, it becomes hard to get money instantly. At such instances, a car pawnbroker and moneylender are of great help.
- Your company may have run into bankruptcy, but you can fetch a short-term cash loan from the pawnbroker against your cars, machinery, or equipment.
- Even if you have a bad credit standing, you can still easily get a short-term cash loan from the car pawnbroker and moneylender.
- You may be a retired individual, or unemployed or you may have an urgent need of some quick cash in order to pay for your children’s higher education etc. In all such instances, you can get fast cash quickly from a car pawnbroker and moneylender with the utmost ease.
Want to Explore More? Here is the Ultimate Guide To Short Term Business Loans
About Cash Fast Loans
Founded in 2002, Cash Fast has earned a name for itself in the pawn brokering and money lending industry, handing out the highest amounts of money against cars, boats, trucks, Jet Skis, or machinery. For instance, we just handed out $15,000 cash on 2014 BMW [320d F30 (Automatic Transmission) – manufacturer marketing year being 2015 with the odometer showing a reading of 10,000 km] in the previous month of July 2015. Centrally located in Parramatta, Sydney, Cash Fast offers same day cash loan ranging from $500 to $50,000 against business cars, equipment, machinery, etc. As a family-owned and operated business, you’re guaranteed to get prompt, friendly, and quality services each and every time.