How to Pawn Your Car for Cash
If you are in need of emergency cash, you can easily pawn your car title and get the money you need. The process is quick and easy and doesn’t require a credit check or proof of income. There are a few things you need to know before applying. Read on to learn more about the benefits of pawning your car title.
It does not require proof of income
You can pawn your car for cash without proving your income if you have a good credit score. While most pawn shops require a certain minimum credit score, some may require no collateral at all. In such cases, a secured personal loan might be more suitable than a pawn shop loan. For instance, Possible Finance provides installment loans up to $500* that do not require collateral and allow you to reschedule your payments for up to 29 days.
Some car title loan companies will require you to provide proof of income and proof of residence. They will also want to see proof of your job, Social Security, or pension to ensure that you can repay the loan. You may need to provide an updated utility bill and/or bank statements to prove your income. Some pawn shops also require proof of your address. If you don’t have any of these items, you can also use an online application.
It is easy to apply for
Pawning your car for cash is a simple process. Most car pawn shops do not require credit checks and the process is extremely quick and easy. You can apply for cash in as little as an hour and have the cash you need in your hand. PawnKings is located in Washington and California and will inspect your car. Once approved, the cash will be released to you.
Unlike unsecured loans, a title pawn involves less risk for the lender. Because the lender is taking on less risk, the interest rate is lower. The loan amount will depend on the value of your car. Once you receive the cash, you keep the vehicle until you pay it off.
To apply for a pawn car for cash, you will need the title to your vehicle. You will also need to provide proof of your income. If you are employed, you can provide a pay stub or Social Security or pension. You can also present a utility bill to verify your address.
To qualify for a pawn car loan, you need a car with a market value of $4,000 or more. Moreover, the car should be a running vehicle and the title must be clear of any existing loan on it. Additionally, you will need to provide a current, valid state driver’s license and a basic insurance policy.
In most cases, you can apply online or visit a title pawn shop. Once you fill out your application, you will need to provide basic personal information. The pawn lender will then direct you to an appraisal location, where they will assess the value of your vehicle and determine the amount of the loan you are eligible for. Then you will need to fill out a few forms. It is important to read the documents carefully and ask any questions you might have.