Why Title Pawns And Traditional Loans Are Different In Georgia
June 8, 2020 | Emma Frost
Money problems are easy to get into and difficult to overcome. We’ve all been there. And sometimes we need some extra help from lenders. When you think of loans, you have some options. You can choose to get a personal loan from lenders or title pawns online from Georgia Auto Pawns. Both options can help you out when you are in a tough spot; but both options have some big differences you have to consider. When you are trying to figure out which one would work for you, keep these differences in mind – they can help make your decision a lot easier for you.
When it comes to traditional loans – or also known as personal loans – your approval relies on your credit history and score. If you have a poor credit score, it can make it a lot harder to get approved. And if you are approved, you may be stuck with a very high interest rate payment. You also usually have a fixed repayment rate, usually between 24-60 months – sometimes longer or sometimes shorter depending on your lender. With a traditional loan, since it relies on your credit score, you don’t have to put anything up for collateral like your home or car.
When it comes to title pawns however, they do not rely on your credit history or score. This car title pawning relies on your vehicle’s title as collateral. This means if you have a poor credit score, it does not affect your ability to be approved or you won’t have to pay crazy high interest rates because of your credit history. As long as your title is in your name and is clear of prior pawns, you should be good to be approved for the money you need. We also have payment rates that work for you. We will sit down with you during the application process and work out a payment schedule that works best for you and your financial situation.
What Is A Title Pawn?
If you’ve never dealt with title pawns before, it isn’t difficult to understand. Title pawns, like I said, use your vehicle’s title as collateral. Basically, you give us your vehicle’s title and we give you the cash you need. You are eligible to get up to $15,000 for your worst financial problems. While these pawns are designed to be short-term help, you can still get a lot of your money troubles taken care of. This pawn is designed to help with your biggest emergencies, not just getting you out of some debt. Those emergencies can be anything from medical to major damage in your house or to your car. Another thing that sets us apart from other loans is our process to get a title pawn.
How To Get An Auto Title Pawn
We make sure our process is simple and convenient. We want you to be able to understand every step clearly before you sign any agreements. The entire process begins with you filling out our online form. This form gives us some of your basic information and lets us figure out which one of our Georgia locations is closest to you. When the form is submitted, you’ll receive a call from one of our pawn representatives to go over the next steps. Once the call is over, you can make your way to the nearest Georgia Auto Pawns with some necessary items and finish the application process.
What Are The Necessary Items?
Like I said, when you arrive at one of our Georgia Auto Pawns locations, you will have to bring a few necessary items in order to finish the approval process. We don’t make you bring in too many documents that make it difficult to sort out, but we do have you bring three things in for us to examine. Those three things are:
- Your driver’s license or state-issued photo ID that states you are 18 or over.
- Your clear or lien-free vehicle title that is in your name. This simply means your title is free of any prior pawns or judgments.
- Your vehicle that matches the title.
Once you have those three items, you are ready to come visit us. When you do arrive, you will sit down with a pawn representative that will go over any questions you have and all the details in your pawn agreement. While you are doing that, your vehicle will be inspected so that we can determine how much money you qualify for.
Now Make A Decision And Get Started
Now you know what makes personal loans and title pawns so different. Personal loans don’t require you to use anything you own as collateral but they do rely on your credit score. Title pawns allow you to get the money you need without worrying about your credit being poor. And title pawns are used for when you have big emergencies that you have to cannot handle on your own. Emergencies like medical or serious damage to your home or car are the type of reasons you would use title pawns online. And another thing that sets us apart is our simple and fast approval process. You will be welcomed by our knowledgeable pawn representatives and quickly go through our process to get the cash you need.