Most financial options require a fantastic credit score — something most people have yet to achieve. When a crisis hits, you don't want to be stressed about money. You need to pay for the damage and move on.

For those without a good credit score, this can be a challenge. However, an online title pawn from Georgia Auto Pawn, Inc. is available for all credit types. Whether you have a good score or not, you can use the value of your vehicle to borrow the money you need to fund this difficult time.

How Can You Get An Online Title Pawn No Matter Your Credit Background? 

The Main Credit Scoring Models

You might be wondering what our "all credit types" comment means. After all, searching the phrase brings up lists of loan types and available financial vehicles. However, in this case, it refers to your credit score — whether it's considered exceptional or poor, you can get a title pawn.

Your credit score isn't quite as cut and dry as that. There are a couple of different scoring models, so your score rating may fluctuate based on the model used by the financial institution. 

FICO Model

Developed by Fair, Isaac, and Company in 1989, the FICO credit score is the most used by lenders. Despite popular perception, there are a variety of FICO credit scores. For example, lenders will likely look at your FICO Auto Score if you're taking out a car loan or your FICO Bankcard Score if you're applying for a credit card. 

All FICO models are regularly updated to handle the ebbs and flows in the industry and supply a nuanced perspective of your creditworthiness to those who need it.

The credit score ranges used in this model are as follows:

• Exceptional — 800 to 850
• Very Good — 740 to 799
• Good — 670 to 739
• Fair — 580 to 669
• Poor — 300 to 579

VantageScore Model

Created in 2006 by a collaboration of Equifax, TransUnion, and Experian, the VantageScore model was made to offer an alternative to the FICO model. Even though many of the same factors are considered, it weights each element distinctly from its predecessor. 

For instance, your payment history is the most critical factor in the FICO scoring model. However, VantageScore sees your credit utilization ratio and credit card balances as the most influential aspect when determining your credit score.

VantageScore is updated often, and the ranges used are as follows:

• Excellent — 781 to 850
• Good — 661 to 780
• Fair — 601 to 660
• Poor — 500 to 600
• Very Poor — 300 to 499

Other Models

While these are the most often used, there are a variety of scoring models out there, such as Equifax's model, which uses a 280-to-850 score scale. Always check the fine print to see which model a particular lender uses.

How Our Online Title Pawn is Available For All Credit Types

As mentioned above, most loans and other financial vehicles are only available to those with excellent credit scores. However, our online title pawns are different —open to all credit types. Therefore, you might be wondering how we're able to do that. 

When you get an online title pawn from us, we place a lien on your current lien-free vehicle title. This provides us with security, reducing the risk of lending to you, thus allowing us to offer you the money you require. 

We lend you an amount (capped at $15,000) depending on the value of your vehicle. So, the more your vehicle is worth, the more you can borrow.

It's important to remember that you should only request what you need from a loan. You'll only end up paying back a chunk you never genuinely required in the first place. 

How Do We Assess Your Vehicle's Worth?

Now that you know how we can make our title pawns available for all credit types, you probably want to understand how we value your vehicle. We consider a few factors when deciding how much your car, truck, or van is worth. These include the following:

• Whether it's had any modifications (they lower its value)
• Whether it's undergone regular servicing (this raises its value)
• Its age and mileage (low mileage raises its value, average mileage doesn't impact it, high mileage lowers its value)
• Its condition (poor aesthetic or mechanical features lowers its value)

You won't have to wait long while we assess the value, either. Our representatives are well-versed in the process and can rapidly establish your vehicle's worth.

No Matter Your Credit Score, Secure Your Georgia Auto Pawn, Inc. Online Title Pawn Today!

You can get an online title pawn from us regardless of your credit score. Fill in our online form, and we'll be in touch to walk you through the requirements. You'll have the money you need as swiftly as possible with Georgia Auto Pawn, Inc. 

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.