If you need money fast and have bad credit, a vehicle title pawn can be a good option. You can use your vehicle title as collateral to get the pawn. The lender who you receive a title pawn from will have a lien on the vehicle. It is possible to be confused about which vehicles are allowed to be used as title pawns; things you need to know about vehicle title pawns.
What Vehicles Qualify for a Vehicle Title Pawn?
Many title pawn lenders have restrictions on the vehicles they can lend money against. Panhandle Title accepts any year, make, and model of personal vehicles.
It doesn’t have to be a new vehicle. Keep in mind that we can determine how much you will be based on the vehicle’s title pawn value and condition.
There are three types of vehicles
At Panhandle Title, we only allow you to apply for a vehicle title loan on four types of personal vehicles. These vehicles are:
It’s likely that most people will own one of these vehicles so it shouldn’t pose a problem. No matter what type of vehicle you choose, the title must remain in your name and be free from liens. Lien-free refers to a title that is free from any outstanding judgments or liens. Before you come to us, please address any of these issues.
You must fully pay for the vehicle
To get a title pawn, your vehicle must be paid off and in your name. It cannot be a vehicle that you are renting. You cannot be making payments on the vehicle. The vehicle must be 100% yours.
Remember that your vehicle must be registered to you. A vehicle you do not own is ineligible for a title pawn. If you have the right to access a vehicle, but the vehicle belongs to someone else, it must be that person who applies for the title pawn. This is not something you can do.
Remember that even if your name appears in the title alongside another name, it is still possible to get a title pawn. If the title pawn has the word “and” between the names then all parties named on the title will need to be present to sign the title pawn agreement. If the word “or” between the names, then either party listed on the title can get a title pawn without the other party’s approval or presence.
If you are not sure if you have a lien on your vehicle title, don’t be afraid to ask. We will check it and advise you on how to proceed.
We will inspect your vehicle before you can qualify for a vehicle title pawn. The amount of the vehicle pawn equity will determine the amount you can borrow.
You may be able to still use the vehicle title as collateral if you intend to use this pawn to repair your vehicle providing the vehicle is still operable. Keep in mind that the vehicle’s condition may affect the amount you receive.
Locate a Vehicle Title Pawn near the Panhandle of FL
You may wonder where to get a vehicle title pawn if you own a vehicle that is eligible. We at Panhandle Title offer a fast and easy process. You don’t even need to visit the office to find out if your application is accepted. You can find out if you are eligible by filling out the short application form online. After you have been preapproved, you can bring your vehicle to our location to complete your vehicle inspection. To get started, follow the below guide:
- Fill out the online application.
- A representative will contact you to let you know if your application has been approved.
- Once you’re done with the phone call, gather the required documents and come to our office to complete the process.
- We will inspect your vehicle and verify your documents.
- After an agreement is signed, you can walk out with a check in hand.
Get your Vehicle Title Pawn Now
A vehicle title pawn is a great option for those who live in the Panhandle of Florida. There are pawn specialists available to assist you. To get started, fill out the online form. If you still have questions and concerns, please feel free to call us to help answer your questions.
Please make sure that you fully understand the terms of the agreement before signing to ensure that your situation will allow you to repay the pawn based on the repayment terms of the agreement.