Pawning you car sound very scary indeed, a daunting endeavour with pawnbrokers giving pawn shops bad names. There are, however, very professional, reliable and honest pawn brokers around that will not only help you to pawn your car quickly but help you to get it back as well. Let’s look at the five reasons why you should pawn your car.
1. Instant cash: By pawning your car, you will be able to access cash instantly and use this money towards the urgent matter such as buying a stock of buying face masks or gold. Understand that a pawnbroker will give you the value of your car that they believe is suitable and may not be able to give you the full value of your car.
2. Blacklisted? Not a problem: Most pawnbrokers are able to loan you the money you need based on using your car. That’s why unlike other financial institutions there is absolutely no need to check your credit record. Should you not be able to repay the loan, they will sell your asset in order to make back the money.
3. No lengthy paperwork: It is very easy to pawn your car. In most cases, all you need is proof of your address and you ID plus, your car’s or asset’s papers, providing that the car actually belongs to you. Some pawnbrokers actually provide loans against financed vehicles.
4. Your credit record remains unaffected: When you pawn your car with a reputable pawn broker like at Capital Pawn, the loan is not recorded with the financial bureau. So, should you have a need to extend the loan or you can’t pay it back, the pawn broker will sell your vehicle and thus, your credit score remains untouched. Indirectly, however, paying your own bills first is also very important. You can’t let those slide because you can’t pay back the pawn shop.
5. The risk is on the pawnbroker: When you approach a pawnbroker and he/she overvalues your car, they will lose money when they sell is so you are in fact selling your car completely risk-free.
Just remember this, it’s always better to rather save up money than to take out loans. Don’t live pay check to pay check, save a little money every month so that you have the money you need in case of emergencies.