Sudden expenses can be hard to meet if you do not have enough cash to handle them. When looking at several options, auto pawn loans are one option that may open the doors of relief to you. The good thing is that with them you not only get away with the hassle of applying for a traditional loan, you can also get the cash fast. If you are considering the possibility of auto pawn loans, keep reading to make sure you are going in the right direction.
What are auto pawn loans?
Auto pawn loans are very similar to auto title loans. If you have a title in hand, you can get a short term loan. Which depends on the value of your car and your ability to pay it back. The main difference is that with auto pawn loans, the lender will keep your car. This is not the case with every lender, but most do it.
Once you get the loan, you will have a few weeks or months to pay it back. The interest rates can be much higher than if you go for a personal loan or use a credit card.
How to get it?
Because the amount of loan depends on the value of your car, you will have to visit the shop of a pawn loan lender. A salesperson will determine the value of your car and will give you an offer based on it. The process usually takes a few minutes, nothing more. If you agree to the loan, you may have to share your proof of income and proof of residence. This is necessary to ensure that you can pay back the loans and so the lender can find you if you cannot.
If you have any further questions, call Advantage Finance LLC at (281) 410-5337, to speak to one of our representatives.