People are searching for quick and easy ways to get money in these times of economic decline. Banks and other large companies do not offer services for low-income people or those who don’t have a checking account. These individuals can improve their financial situation by using car title pawns.
Americans are trying their hardest to survive in a difficult economy. According to a recent study, 40% of Americans have less than 1000 dollars in savings and can also have credit cards with balances exceeding 10k.
So, what’s the solution?
If you own a car with a high enough pawn value, a car title pawn might be the answer. This type of financing is often overlooked by some people, but it is a fast and convenient option. It can also save you the time and hassle of traditional bank financing which is subject to more scrutiny.
We don’t require a credit check for a car title pawn. One requirement is you must own your vehicle, or if not owned outright have enough equity to cover a title pawn. This information must be verified with the DMV to prevent identity theft or fraud. It is easy:
- You use your car as collateral to take out a small title pawn.
- We will keep your car title while you are repaying the title.
- The title pawn is due to be repaid within 30 days. If necessary, we will extend the agreement for an additional 30 days by making only the interest payment.
- Once you have repaid the title pawn in full, and your car title is returned, you can drive away without any more title pawn payments. You may be eligible for a title pawn with no interest for 30 days in certain cases.
If you have low credit scores or are unable to get traditional financings such as unsecured personal financing, or credit card money advance, car title pawns could be very helpful. People who use car title pawns may be eligible for additional benefits.
1. Easy and quick access to money
A car title pawn can be a quick and easy way to get money if you have an emergency. In exchange for a vehicle title pawn, owners of vehicles will give the title to their truck or car. Lake Title does not need to conduct credit checks or background checks on its borrowers. We will verify that your vehicle is worth at most the amount you can borrow. Many car title pawns can be completed in a matter of minutes, as there is less paperwork than traditional bank pawns.
2. No credit checks
Many households are unable to borrow money the traditional way because of their poor credit history. Only people with impeccable credit are eligible for mortgages or other personal financing options. Lake Title has been a great help to many customers over the years. There is no credit check required to get the pawn. For those with no credit or bad credit, car title pawns can be a great option.
3. Keep your vehicle
You can still use your truck or car while you repay the title pawn. When you consider other secured financing such as those offered by pawnbrokers, it is common for the borrower to leave the property with the broker until they repay the title pawn. You can keep your vehicle for the duration of the title pawn agreement if you borrow from Lake Title. Lake Title places a lien on your vehicle’s title and can take possession if you do not make your payments.
4. Quick Access to Funds
You can get money immediately after submitting your application, as long as you have at least one vehicle. You can walk out with your check-in hand that day.
For those who can’t wait for other types of financing, car title pawns may be a great option. Lake Title recognizes that life is unpredictable and will do everything in its power to help customers who require quick money without checking their credit.
There are many options for financing an unexpected expense, but car title pawns have several benefits to borrowers. A car title pawn is a great option for those who need immediate money, have bad credit, and have a free and clear title to their vehicle. To determine if your vehicle qualifies and for how much, you can apply online. A qualified staff member will quickly respond to your inquiry.
The Lake Title staff will assist you with this process. If you have any questions about applying, please call at (352) 622-2274.