When you have unexpected expenses or need money to cover utilities or other bills, pawning your car title could be an easy way to get cash without going through the process and uncertainty of applying for a traditional loan. It allows you to take out your car’s equity, while keeping the use of your vehicle.
Once you’ve pawned the title to your car, you will be required to make monthly payments on the value of the title until you’ve paid back the amount of the pawn, often with additional interest.
If you’ve decided to follow this route and are wondering, “How do I pawn my car or motorcycle title?” here is a short, general outline of the process to pawn a car title.
The requirements for pawning your car or motorcycle title vary slightly from state to state, but the overall process is simple. To pawn your car or motorcycle title, you’ll generally need these things:
- Your car or motorcycle
- The lien-free auto title to your vehicle that lists you as the owner
- Government-issued identification, like a driver’s license or state ID
- Proof of income
Many car title loan companies require that you own your car outright, without other liens or title loans. Proof of income may be employment, Social Security, pension, or another dedicated source of income.
This is to be sure you have a means of paying back the value of the pawn. They may also ask for supporting documents, such as a utility bill to verify your address. Once you’ve gathered all of your documents, take them and your car title loan company. Car Title Loans California has multiple locations around the state. We also give you the option of applying for your loan online to save you time and gas.
At the car title pawn location, your car will be inspected by a sales associate. The make, model, year, and condition will be assessed and used to determine the value of your pawn.
When you take your car to Car Title Loans California, one of our friendly, trained associates, will give your car an appraisal in as little as 5 minutes. Your loan amount will be determined based on your specific cash needs and the value of your vehicle.
After the amount has been decided and you’ve agreed to the terms of the car title pawn, you’ll receive the full amount of the pawn, usually in the form of a check. Car Title Loans California will give you your cash, and you get to drive away with your vehicle.
At Car Title Loans California we understand that life happens. Medical emergencies, unforeseen home repairs, unemployment… all these things can play havoc with your finances and leave you feeling stressed.
Poor credit history is a roadblock when applying for a traditional loan from a bank, and approval can take time you don’t have. Stop dying in silence, come to us today and we will make you smile again.