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In states like Georgia, we have seen that there are a lot of auto title pawn companies or stores which can offer you a loan in a matter of some minutes. An important thing that we should unquestionably clear is that many people get caught in figuring out the difference between the auto title loans and the car title pawn, but they should not worry because both of these are the same thing.
The great thing about the title pawn is that with it one can get quick cash and his credit history is not taken into account as well. If you are suffering from the financial crisis or need money in a hurry for some emergency situation then opting for the title pawn is a good option. Among all the various items on which you can get the title pawn the auto title pawn is one of the best choices regarding the value of the loan because with one can get up to $10,000. So, if you need cash in a limited time, then you should quickly find the best pawn store near you and turn your vehicle into a lot of bucks.
Getting a title pawn
If you opt for the auto title pawn, then you should choose a good pawn company for that because the loan process is very smooth and efficient in good companies. Most of the stores provide you the option of both online application and the manual application process at the stores. The company asks for your identification, and they also check your title to make sure that you have the full equity in the vehicle. The value of the loan is based on the condition, make, and model of the vehicle (or any other item which you are willing to put on as collateral). Once the company’s representative examines the vehicle, he then talks it through with the borrower to discuss all the terms and conditions and the amount.
Some benefits of title pawn
The benefits differ with the lending companies some of the benefits are:
• The loans are approved for almost all people irrespective of their credit score and history only their income affidavit is seen.
• The process is fast and easy.
• Generally, thirty minutes are required for the processing.
• The car remains to the loan borrower unless he fails to repay the loan.
• The monthly installment plan can be modified.
Important things to keep in mind
Before going out for getting the title pawn, you should keep in mind that you are eligible for the loan meaning that you have the following things in your possession:
• Your Identification.
• Utility bills (giving your living address).
• Your car title. It is the most important thing on which this loan is based so in case you have lost your title then you should quickly apply at the department of motor vehicles (DMV) for a new one.
• Your vehicle should be lien free. Meaning that you should not have any pending loans on your vehicle because it can cause a problem for the title lender company.
Almost one person out of every 5 fails to repay the loan amount due to which his car is repossessed by the lending company so you should always keep in mind before you opt for the title pawn for anything.