Did you know that you could get an instant cash loan by pawning your car? Yes, at a pawn shop you can pawn your car and get an instant cash loan for a short-term. Some people aren’t even aware that there is such a thing as a pawn shop.
- A pawn shop would not ask you for your bank statements or pay slips and even if you have a bad credit, you can still get the cash loan against your car.
- Also, no credit checks and background checks are conducted.
- You do not have to fill any lengthy applications.
- All you need to provide is proof of your identity and proof of vehicle ownership (which includes the vehicle should be fully paid for).
Depending on your vehicle’s estimated value, you’ll get a certain percentage of it as a cash loan so that it is also easy for you to pay back the loan amount with interest. Therefore, getting a short-term cash loan from the pawnbroker is effortless and simple.
You’ll get same day quick cash loan when you pawn your car at the pawn shop. The pawnbroker will store your car till the period you return them the loan amount with interest. Normally the loan period range from 1 day to 3 months. If you want to extend the term, you have to request the pawnbroker, they may consider if it is feasible for them and upon their own terms and conditions.
When you pay back the loan amount and interest at the time of loan expiry, you get back your car. In case, you fail to repay the loan amount, the pawnbroker will sell your car and will receive their money back, of course, they will make some profits too – that’s why they are in the business.
Finally, always check for the credibility of the pawnbroker before pawning your car. You should approach a pawnbroker who holds a valid license.
About Cash Fast Loans:
Cash Fast is an established and licensed car pawnbroker and moneylender in Sydney. Cash Fast has simplified the whole process of pawning and lending instant cash loan against a car, boat, jet ski, truck, motorcycle, machinery etc. You’ll get a fast short-term cash loan on the same day within just 30 minutes – Isn’t that awesome!