Can You Pawn Your Car And Drive It?
Can you pawn your car and drive it? This is a great question that we’re going to consider in this post!
Car pawns can be a great way to get the extra cash you need in an emergency situation. However, most people are hesitant to apply for a car pawn because they are afraid they won’t have access to their vehicle anymore. Luckily, this is not an issue you have to worry about.
To learn if you can drive your car after pawning it, keep reading. This article fully explains how car pawns work, including if you can pawn your car and drive it and why. Scroll down for more.
Can You Pawn Your Car And Drive It?
If you’re worried that you won’t be able to drive your car after you pawn it, don’t be. You will be allowed to pawn your car and drive it. From the time you apply for a title pawn to the time you pay off your last loan payment, you can drive your car!
How Car Pawns Work
Since you will be allowed to drive your car after pawning it, you might be confused about how exactly car pawns work. You’ll be relieved to know that the car title pawn process is really easy and straightforward.
How it works is that you will apply for a car pawn. If approved, you will receive a certain amount of money, based on how much you are approved for. Factors such as the value of your vehicle are used to determine how much you can be loaned.
After you are loaned the money, both the money and your vehicle will go home with you. You will be able to drive your car as usual and treat it just as you would before you applied for a loan. You will continue to keep the car as you are paying back the title pawn.
The only difference about your vehicle now is that there will be a lien against it until you pay back the pawn. As soon as it is paid back, this lien will be removed, and you don’t have anything to worry about.
In other words, the only difference between your vehicle before and after applying for a title pawn is on paper. After your last payment, everything will go back to normal, and you will be able to drive your vehicle as before throughout the entire process.
What Do I Need To Apply For A Car Pawn?
Now that you know you can pawn your car and drive it, the next step is to actually apply. To apply, there are certain things you will need. To apply for a title pawn from Alabama Title Loans, Inc., you will need three things: your driver’s license, your lien-free title to your vehicle, and your vehicle.
Of these three things, the lien-free title might be the most confusing. A lien-free title is one that has no outstanding debts against it. More so, the title must be in your actual name. If there are debts against your title or it is not in your name, it cannot be used for a title pawn.
In the case that your car title is not in your name, this is an easy fix. Go over to your DMV and get the title transferred to your name, then, apply for your title pawn.
What About My Credit Score?
The beauty of title pawns is that your credit score is not a factor when applying. If you have good or bad credit, Alabama Title Loans, Inc. welcomes you to apply. Instead, you need to focus on the three requirements above to apply for this loan type.
How To Apply For Car Pawns
If you have all three required items to apply for a title pawn, you then need to formally apply. Here are the steps for applying and getting approved for a title pawn from Alabama Title Loans, Inc.:
- Fill out the online inquiry form.
- Wait for a loan representative to give you a call.
- Meet with the loan representative. Make sure to bring all the required items to this meeting.
- Allow for a loan representative to walk you through the rest of the process and evaluate all of your documents and items.
- Wait for the loan representative to perform a quick inspection of your vehicle.
- If approved, you can get the money you need the same day or the next business day.
Get Your Car Pawn Today!
Can you pawn your car and drive it? Yes! You’ll be able to bring your car home with you and drive it as normal after using it for an Alabama title pawn. You get to keep it throughout the entire payment process.
If a car pawn sounds like an option for you, contact Alabama Title Loans, Inc. today. Just fill out our home page inquiry form to get the process started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.