Why You Can Get Title Pawns Online With Bad Credit
It’s hard to imagine getting title pawns online with bad credit, but with Georgia Auto Pawn, Inc., it’s more than possible. Here’s why you can get title pawns with bad credit and how you can get started today!
Thanks to the collateral, credit isn’t as much of a factor with title pawns. Title pawns are available for people with bad credit because your car’s title serves as the security in the loan, protecting the interest of the lender such that they aren’t too concerned about your credit.
In an emergency, quick cash can be extremely beneficial, but it’s not always easy to find a borrowing opportunity that suits your needs and is willing to support you even with bad credit. Here, we’ll highlight why it’s completely feasible to get title pawns online with bad credit.
What Are Title Pawns?
First, let’s help you get a fundamental understanding of how title pawns online with bad credit work. Title pawns a type of secured loan, which simply means that lenders require you to put up an asset at risk for the sake of the loan.
Your lender will place a lien against your car title, establishing themselves as the de facto owner of the car during the loan. Of course, when you pay off the loan completely, the lien disappears. Even during the loan, you can still drive your car as you would normally.
The beauty of this system is that your lender doesn’t really need to bother with making sure your credit is up to par. If you’re willing to put one of your assets at risk, then chances are that you’re serious about taking out a title pawn and paying it back.
A title pawn is based less on trust than it is on security, a contrast to unsecured loans that depend heavily on creditworthiness as a marker of risk.
Why You Can Get One With Bad Credit
The important thing to remember is that lenders are always trying to reduce the risk they incur by lending people money since in reality, not everyone is going to be willing to pay it back or be financially savvy enough to recognize when a title pawn isn’t a good idea.
Establishing collateral for a title loan strongly mitigates risk on behalf of the lender, protecting their interest in the loan. The title pawn is based on the value of the vehicle, rather than the credit of the borrower. On the plus side, you benefit from this security since title loans generally, but not always, issue higher borrowing amounts than other types of loans.
What Do I Need For My Loan?
Of course, whether you have good credit or bad, you’ll still need to meet our eligibility standards to take out a loan. Those include the following:
- Your driver’s license or state-issued ID – Of course, we need to verify you’re over 18 and that you are who you claim to be. If you don’t have a DL, you can use any kind of government-issued ID that has your photo on it. That might be your passport, military ID, student ID, or non-driver’s license.
- Your lien-free car title – A prior lien on your car is an instant non-starter since it renders the car worthless when used as collateral.
- Your car itself for inspection – Your car’s value plays a big role in the amount of your title pawn. After all, if you’re willing to put up a more valuable car, the lender incurs even less risk and the borrower is further incentivized toward repayment.
How Do I Get Started?
Now that you recognize that title pawns online with bad credit are not only possible but also well within reach, you might consider Georgia Auto Pawn, Inc. as a resource for your loan needs. To apply, follow these easy steps:
- Contact the location or fill out the convenient online inquiry form to send your basic info to a store of your choice and get a quick call back.
- During the return call, schedule a meeting with an associate so that they can inspect your car.
- Head to the meeting with your required items and wait for the inspection to finish, which should only take a few minutes.
- Once the associate establishes how much cash you qualify for, you can arrange to get your money and leave with your vehicle. The money will be available that day or the next day.
The process is just that simple! Title pawns online with bad credit may seem miles away, but when the loan is secured, you’ve got a much better opportunity to get a loan when you need it most for emergencies like car repairs, urgent medical bills, rent or utilities, or business travel expenses.
It’s something well worth considering during a financially stressful period, and if you think it’s the right choice for you, then call or fill out the request form today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.