If you’ve been looking for quick same-day loan options, getting a title pawn online must have crossed your path at least a couple of times.

Online title pawns are one of the most popular options among those who are looking to get cash together quickly and quietly. Their popularity is largely determined by their accessibility and quickness.

But as with everything popular, there are plenty of misconceptions about getting title pawns online that are frequently circulated on the web, and in this article, we’ll try to put 5 of the biggest ones to rest.

Here Are Most Common Misconceptions About Title Pawns Online

1. Getting A Title Pawn Online Is Easy Because It’s Unregulated

While online title pawns are much easier to acquire than, say, a personal loan with a bank, it doesn’t mean anyone can simply walk into the store and walk out with cash. Title pawns, in fact, are very strictly regulated. To qualify you need to be at least 18 years old and outright own your car. Meaning there can be no outstanding judgments or loans against it, and it must be in your name – you can’t use a title with another person’s name on it even with their permission.

2. If You Get A Title Pawn Online You’ll Need To Leave Your Car With The Lender

While there are no explicit rules requiring the lender leave the car with you for the duration of the loan payoff, it’s the most common. Here, at Alabama Title Loans, Inc. for example, you’ll only need to bring your car in for a quick inspection. It’s the title that will act as collateral and stay with the lender, not the car. Hence the name title pawns.

3. Title Pawns Deliberately Target Underprivileged Groups

Since many disadvantaged groups are known to flock to title pawns, a malicious misconception has taken root that title pawns “deliberately ensnare the underprivileged”. In reality, no such thing is taking place, nor are the people from underprivileged groups even the largest demographic that use title pawn services.

Most of the people getting title loans usually resort to them due to short waiting periods and strict privacy policy rules. The real problem is that short-term fast loans are often the only option available to the underprivileged groups, as they’re much more willing to accommodate non-standard credit and income situations than more traditional financial institutions.

4. Getting A Title Pawn Online Will Affect Your Credit

Due to the misconception of “title pawn being a bad type of debt”, many seem to eschew getting it for no other reason but fear it will bring their credit score down and look unfavorably on their credit reports. The truth is your title pawn won’t be reflected on your credit history at all. Alabama title Loans, Inc’s strict privacy policy rules don’t allow disclosing any loan information to the third parties. Including reporting to any credit bureaus. All loan-related information stays strictly between us and the client.

5. If You Get A Title Pawn Online You’ll Never Be Able To Pay It Off

If you do a little research into getting a title pawn online, you’re bound to come across phrases like “never-ending debt cycle”. Again, a pretty inaccurate misconception, especially since we leave the means of loan payoff completely up to our clients. They’re free to utilize any method they find comfortable at any given moment.

The absolute majority of our clients pay their debt off without a hitch in full accordance with the plan our loan representative works out for them.

When To Get A Title Pawn Online

Do keep in mind that while its easy availability might make a title pawn online seem like an attractive option whenever you’re pressed for cash – it’s still a financial obligation you’re taking on. Getting a title pawn online is an option worth considering when you’re on a tight schedule and need cash ASAP to cover urgent bills. Good examples would be unplanned medical expenses, urgent car or house repairs, unexpected traveling and moving costs, overdue rent, and the like.

Here’s How To Get A Title Pawn Online

Before getting started, make sure you have all the items required to qualify. You’ll need:

• A valid state-issued ID/driver’s license to verify your identity and legal age (18+);
• Your car for inspection;
• The car’s lien-free title in your name to prove ownership.

If you have all the required items on hand, all you’ll need to do is submit a filled-out form on our website. As soon as the form is processed, our loan representative will give you a call. They’ll provide all the necessary information and set up a meeting with you at a convenient time and location.

Take your items to the meeting. The loan representative will assess everything to determine the terms of your loan. If they approve you, you’ll get the cash the very same day.

Get Started Today!

In need of extra cash? With Alabama Title Loans, Inc., you can get up to $15,000 TODAY! Just submit a form for a title pawn online and the cash could be yours in under an hour!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.