What You Need To Know About Vehicle Pawn Loans

toy-car-on-top-of-coin-jarPawn Loans Explained

You may have heard about pawn loans on TV or in the movies, but there’s a place for them in everyday life as well. There are plenty of misconceptions about these types of loans and if you are in a financial bind and need some help getting by, you need to know the truth. There are some stores that will allow you to pawn just about anything of value, but vehicle pawns can get you the real help you need.

What Are Vehicle Pawn Loans?

These loans get you money based on how much your vehicle is worth. You don’t have to worry about having a credit check because that isn’t an issue. This is a loan you can secure no matter how poor your credit score might be. The loan can be completed in just a few minutes and your vehicle, once everything goes through, is stored in a safe place until you are able to retrieve it and pay back the loan. You don’t have to worry about anything happening to your vehicle in the meantime and no one drives it or uses it in any way.

What Vehicles Qualify?

You can bring motorcycles, motorhomes, car haulers, boats, RVs, heavy equipment, off-road vehicles, and many others in for pawn loans. If they are valuable items, they will most likely qualify.

What Items Are Necessary To Make The Deal?

You will have to bring your vehicle in for an assessment on value. You will also want to bring your ID, the vehicle’s title, and the proper keys for the vehicle.

How Will The Process Go?

Once you bring in the vehicle along with your ID and the title for the vehicle, the experts will take a look at the item in question and determine how much you can have for a loan. Once you are approved, you will receive the money and the vehicle goes into storage until you return.

How Long Do The Loans Last?

You will get four months to pay back the loan, which is a standard in the industry. You can also renew the loan if you need more time. You can make payments on the loan as often as you’d like or simply hold onto the money until your loan is up and then pay it all back at once. The payments have to be made in cash and can be done at the location you are receiving your loan from. If you want to pay the loan back early, that’s fine as well and you’ll receive your vehicle as soon as the loan is paid in full.

Utilizing Pawn Loans

Pawn loans aren’t something you want to make use of on a regular basis, but they sure can help you out of a jam when you need cash fast and have a vehicle worth some money. Contact Champion Financial Services to ask more questions about your pawn loan options or to see how much money you could receive in the deal. Factors are considered on a case by case basis.

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