How Are In-Store and Online Title Pawns Different?
July 5, 2021 | Mason Roberts
What are online title pawns and how do they work? Do you need perfect credit or can you get one if your scores are low? What's the difference between getting one online and going to the store to fill out paperwork? Those are all terrific questions, and nearly two million people find the answers each year.
That's because getting title pawns online helps preserve precious resources that should be reserved for more important things. For example, who wants to drive all over the city looking for money when they're already struggling to make ends meet? Thanks to modern technology, that's not even an obstacle anymore.
Difference Between In-Store and Online Title Pawns
What Are Online Title Pawns?
Online title pawns are a form of secured loan that uses your car's ownership documents (title/registration) as collateral for a lump sum of cash. They're commonly used to pay for emergencies and unexpected expenses, but the funds are also great for debt consolidation, credit improvement, and basic living costs.
DID YOU KNOW: The average person in the United States has less than $3,000 available for emergencies in their savings account.
Instead of being initiated in the store, borrowers can request consideration through a simple and convenient online portal. That saves at least one trip to the store, plus you can opt to finish the deal at your preferred location for even more savings. Online title pawns give you peace of mind without forcing you to hunt for cash, and that makes a big difference.
How Do Online Title Pawns Work?
Luckily, getting a title pawn online is easy in Alabama. You initiate the process by submitting a request and then wait for an agent to review your information. If you meet the state's minimum requirements, you can walk away with as much as $15,000 in cash that doesn't ruin your credit rating and/or seize your most valuable assets.
The lender looks at your title to establish its legitimacy and then appraises your vehicle to determine its market value. Based on an algorithm that's not hinged solely upon your credit rating, lenders will calculate a fair amount and offer you cash on the spot for the trade. Meanwhile, you get to keep possession of your car while the contract remains in good standing.
In Alabama, you don't even have to leave your house to get approved. Trudging through traffic and waiting in a line makes no sense these days, and traditional banks can take forever to say "yes" or "no" on a loan application. So, online title pawns cut out much of the bureaucracy to keep things streamlined, simple, and within reach of the average consumer.
NOTE: You must be at least 18 years old to qualify for any type of title pawn in the state of Alabama.
Are Online Title Pawns and In-Store Pawns the Same Thing?
Logistically, online title pawns and in-store pawns are the same exact thing. There is no fundamental difference between the two, and they both require the same rules and produce the same outcomes too. The only variation is convenience. Unless you're in the area, starting the process online is almost always the easiest route.
FUN FACT: You can walk away with the money you need within 24 hours or less in most cases.
How to Get Online Title Pawns in Alabama
Getting an Alabama title pawn online in is one of the easiest things you can do, if you choose Alabama Title Loans, Inc. to be your lender. Plus, it only takes an hour roughly from start to finish, so you won’t need to spend a lot of time waiting for an approval decision:
1. Begin at by Submitting an Online Form
Find and out the short intake form on the Main Page. You can also ask any questions you may have using the virtual chat option. Next, submit the required information and wait for an agent to review it within minutes. If you're approved, the agent will contact you shortly with further instructions.
NOTE: You can choose the time and place for the rest of this process, so try to begin as early in the day as possible to avoid common delays.
2. Gather Your Required Items for Approval.
Your agent will go over everything and outline what they'll want to see when they're approving your request. But here's a list to help you get organized:
- Your driver's license or a government-issued photo ID
- The lien-free title of your vehicle
- The vehicle itself for a quick inspection
3. Sign the Loan Agreement
After reviewing your documents and inspecting your vehicle to determine its market value, the agent will offer you the amount you can get. If everything seems to your satisfaction, sign the agreement - and you’ll be all set to get your cash.
For even faster processing, be sure to have some basic banking information as well. Usually, a blank check from an active checking account will suffice.
Submit Your Inquiry Today!
It doesn't matter whether you do it online or in the store. Alabama is a great state to get title pawns because the process is easy and there's up to $15,000 available to those who qualify. So, submit your inquiry today to find out how much cash you can get with title loans online using your vehicle!