woman in car for title pawn

Need A Loan But Keep Getting Declined? Try An Online Title Pawn Instead

If you need a loan but keep getting declined, it can be very frustrating. You know you need the cash, but the rejections keep piling up. Thankfully, you have other options than just a regular bank loan. Those that are constantly declined by banks may see an online title pawn from Georgia Auto Pawn, Inc. as an alternative. Don't know what a title pawn is? Don't worry. We'll explain everything and tell you why they are an alternative to traditional loans.

What Is An Online Title Pawn?

A title pawn may be the right option to help cover any emergency expenses that you may be faced with. An online title pawn lets you borrow money by using your vehicle’s lien-free title as collateral. With Georgia Auto Pawn Inc., you may be approved to borrow up to $15,000, depending on how much your vehicle is worth. Of course, to potentially receive an online title pawn you will have to own a vehicle with the title in your name.

Why Your Bank Loan May Have Been Declined

A lot of people that need a loan but keep getting declined may not even know the reasons why. Banks just say something like 'the system rejected you'. It's frustrating because you don't know how to fix the problem. So, before we tell you why an online title pawn may be an alternative, you need to know the reasons why banks are likely turning down your application. Some banks are very reluctant to lend cash. When a bank is deciding whether they can give you a loan they will look at your credit score.

As you know, your credit score is a reflection of your financial health. Your score is influenced by the amount of credit you already have granted to you, whether you have made payments on time, and how long you have owned 'credit' accounts. The better you are at handling your finances, the better your credit score will be. Banks usually only lend to people with almost perfect credit scores – and if not perfect, it is at least very high.

If you have a couple of late payments on your account (i.e. within the last couple of years), then it may send your credit score below the point where the bank feels comfortable lending money to you. That isn't the only issue either. Each time you apply for a traditional bank loan, your credit score will take a hit. So, rejection after rejection will make your credit score drop significantly. Basically, after a certain point you stand a low chance of being approved for a bank loan.

title pawn meeting in car

Title Pawns As An Alternative To Traditional Loans

There are a few differences between title pawns and traditional loans. It is these differences that mean those that need a loan but keep getting declined may see an auto pawn as an alternative. And it is these differences that can help you decide if getting this title pawn will actually help you out or if you are better off with a bank loan. So, here are a few things that make title pawns different from your traditional bank loan.

Faster Lending Process

Once you have a few loan rejections under your belt, you are probably in need of cash. You can't really wait days, if not weeks, for yet another rejection. At Georgia Auto Pawn Inc., the title pawn process is fast. With an in-person meeting, you could find out if you are approved in as little as thirty minutes. If you receive approval, you could have the cash you need either the same day or by the following day – depending on when you applied for the title pawn.

Bad Credit Accepted

Most bank loans are declined because of bad credit. In fact, your credit score doesn't even have to be terrible. With an online title pawn however, there is slightly less of a focus on your credit score. The main concern is your vehicle and its title. So, you are welcome to reach out to Georgia Auto Pawn, Inc., even if your credit history isn't in the greatest health. We will still consider you for approval even if you have poor credit.

No Bank Account Requirements 

With most traditional loan lenders, you will need a bank account in your name in order to qualify for a loan. This is because the bank needs to get a full picture of your financial situation and that means they need to look at your bank account. However, when it comes to an online title pawn, you don’t need to worry about that. With us at Georgia Auto Pawn, Inc., there is no requirement to have a bank account.

car used for title pawn

The List Of Items Is Short

Getting an online title pawn is different from getting a bank loan. The process might even be quicker, and there are only a few required items we must assess before we can make any decisions. And once you have these items ready to show us, then the inquiry and the actual application process is smooth. But before we can consider you for a title pawn, you must have the following items ready for the in-person meeting with us:

  • Driver's license or state-issued ID.
  • Lien-free title to a vehicle. This title mustbe in your name. 
  • We must be able to inspect your vehicle. 

The Process Is Simple And Quick

As we said, the process for an online title pawn might be quicker and simpler than getting a traditional bank loan. It all begins by filling in an online form and then having a chat with us on the phone. This is a quick part of the process. The online form takes just a couple of minutes to fill in, and the phone call will come a short time later. During the phone call, we will discuss your vehicle inspection. Before we can decide how much you can receive, we need to look at your vehicle in person.

The good news is we can carry out this inspection at a location of your choosing, or you can head to your local Georgia Auto Pawn, Inc. branch – which we have a location all throughout Georgia, so you are bound to live near one. When you meet up with us, our title pawn representative will inspect your vehicle. Using an industry-recognized pricing guide and the overall condition of your vehicle, they will determine its value.

Once the vehicle inspection is complete, we'll let you know how much you could potentially get with your auto pawn and if you are approved. We will then walk you through the rest of the process. Feel free to ask as many questions as you want. Once you understand the pawn terms, we will help you finish signing the paperwork. Once you are done, you can get the money you need later that day or the next day. You also get to keep your vehicle while you repay the pawn! 

Loan Rejections Getting You Down? Try An Online Title Pawn Today

If you need a loan but keep getting declined, you may feel like you are running out of options. The good news is you aren't. If you have a lien-free title to your vehicle, you may be able to receive an online title pawn from us at Georgia Auto Pawn, Inc. to help you out. After a quick process, you could receive up to $15,000. To help get you started, fill in the online form found right on our website 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.

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.