You may be in the market for a car title loan to get you through until your next paycheck, or maybe you’re looking for ways to make extra money. Whatever it is, we’ve got you covered with this blog post! We’ll tell you about how these loans work and who they are designed for, what types of people might qualify, and much more. You can’t go wrong when it comes to learning all about these awesome loans here at Title Loans Dothan AL Guide!
Here are seven things you should know about Title Pawns before getting one!
Title pawns are great if used correctly. They’re an easy way for people with bad credit, money issues, or large monthly debts to get extra funds when they need it most without having any long-term commitments because the payments are only due every week/fortnight depending on how much money is borrowed from your lender as well as interest rates set by law which range anywhere between 30 – 48%.
Either way, though these types of arrangements come at high costs so make sure that whatever decision has been made matches both what’s best financially but also satisfies other needs too such as staying within budget
What are Title Pawns?
The title pawn is a type of pawn that you can get by declaring an asset as collateral. This unconventional form of borrowing has been around for years, and it’s appreciated mainly because lenders don’t take applicants’ credit reports into account, nor do they care about how much money people have in their bank accounts when deciding whether they’re worth lending to! Plus, points include being able to borrow amounts ranging from $100-$5K at very concessional rates (interest-wise)
How does a car Title Pawn work?
Title pawns requirements are easy to meet. You just need to have ownership of at least one vehicle and sign it over to the auto company for them to take 25% equity from you while they keep the title as collateral against any losses if there is default by the borrower but typically these short-term financial products last between 15-30 days so planning will help avoid issues down the line!
How much can you get for a Title Pawn?
The title pawn lender will give you up to half the value of your car as a money infusion. In most cases, this is around 25%, and they’ll lend between $100-$5K for it!
Title Loans Dothan AL is a tempting option for people in need of quick money. Title lenders offer the best of both worlds – flexible car title loans, and convenience!
Is it a good idea to get a Title Pawn?
Well, there are tons of reasons why car title pawns are a good idea, but we’re going to talk about just a few here.
- You Can Get Your Money Quickly – Sometimes life throws us curveballs that take our breath away and leave us reeling. When this happens, having quick access to money you need is very important. That’s why title pawns are so incredibly helpful because they can get you the money you need quickly with no hassle at all!
- You Keep Your Car – The title pawn process is all about your car! It’s the title that you’re giving to us as collateral for the title pawn, not necessarily your car. So, once you pay back what you owe on your title pawn, we give it right back!
- Title Pawns are simple to obtain – Quickly obtaining the money you require doesn’t matter much if it takes forever to apply for these sorts of pawns. Thankfully, title pawns are quite easy to apply for regardless of whether you do so online or in person. And, best of all, there is barely any paperwork to complete!
If you wish to get a Title Pawn, you should keep some things in mind:
The process of getting one is extremely simple. Here is a step-by-step guide on how car title pawns works:
- On these pawns, the APR may be as high as 300%, so make a timetable for repaying it as soon as feasible.
- Some lenders may impose an early repayment fee (we don’t), so double-check the contract.
- Depending on the pawn you choose, your lender may demand a weekly or fortnightly repayment plan. If they don’t accept direct debit, though, it might be difficult to keep track of all the repayments and bills.
- If you can’t keep track of what you’ve paid and how much you owe your lender, you are entitled to a “statement of account.”
- If your automobile pawn is about to expire, certain lenders may accept your application. They will, however, want the previous lender’s permission.
How can a car Title Pawn assist you?
Title Pawns are offered to assist you in meeting your financial demands in the event of an emergency by providing money based on the value of your car’s title. When you apply for a title loan in Dothan AL, all you have to do is give us the title to your automobile as collateral, and we’ll use it as security if you don’t pay back what you owe on time. Then, when the transaction is completed, we return your title!
It appears to be a simple bargain, doesn’t it?
Of course, it does! That’s why every day, title pawns are becoming more popular, so if you need money, title pawns are well worth discussing with your local title pawn lender.
We hope that this blog post has given you the tools to make an informed decision about whether a title pawn is right for your needs. In the event of a financial emergency, it is important to plan and know your options.
If you live in Dothan AL or any nearby city. Be sure to contact Panhandle Title if you would like more information about our products and services at (850) 785-2274 or Get an Instant Email Quote!