Whenever you fell broke due to unexpected expenses or need money to cover utilities or other bills, there is an easy way to get cash: pawn your car title. The good news is that you can do this without having to apply for a lengthy process of a traditional loan with huge uncertainty. It permits you to take out your car’s equity while letting you use your vehicle. Once you have pawned the title to your car, you will make monthly payments on the value of the title until you pay back the amount of the pawn, with additional interest.
Here is a precise outline of the process to pawn a car title to help you decide.
How to Pawn your car title for Cash
The requirements for pawning your car title differ from state to state, but the overall procedure is the same. To pawn your car title, you will need these things:
- Your car
- The auto title to your vehicle that lists you as the owner
- A driver’s license or state ID
- Proof of income
Some car title loan companies may require that you own your car outright, without other title loans. To make sure you have a means of paying back the value of the pawn, they may require the proof of income may be employment, Social Security, pension, or another dedicated source of income. Once you have arranged all of your documents, take them and your car to a title loan company.
When you take your car to Advantage Finance, LLC, one of our friendly, expert associates, will give your car an appraisal in as short as five minutes. Your loan amount will be based on your specific cash needs and your vehicle’s value.
After the amount has been decided and you have agreed to the terms of the car title pawn, you will receive the full amount of the pawn, usually in the form of a check. Advantage Finance, LLC will give you your cash, and you get to drive away with your vehicle.