When financial troubles strike, having access to quick cash can make all the difference. Emergencies like hospital visits, car repairs, or job loss often require immediate financial solutions. Two of the most reliable options for fast cash are title pawns and payday loans.

But can these two loan types be combined? The short answer is yes! Let’s explore how you can use both loans together to manage financial challenges effectively.

What Are Title Pawns and Payday Loans?

Title Pawn

A title pawn allows you to use your vehicle’s lien-free title as collateral to secure a loan. Title pawns offer higher loan amounts—up to $15,000—depending on your car’s value, while letting you retain the use of your vehicle during the loan term.

Payday Loan

A payday loan is a short-term loan secured against your next paycheck. These loans typically provide up to $500 and are ideal for smaller, immediate expenses.

Can You Combine a Title Pawn and Payday Loan?

The simple answer to whether you can combine the two is that you can indeed. The reason this is possible is because both types of loans, payday loans and title pawns, are secured by different things. In the case of a payday loan, the amount of your loan is secured by your next paycheck, and in the case of a title pawn it’s the title of your vehicle.

Key Differences Between Title Pawns and Payday Loans

Loan Amount

• Payday loans: Up to $500.
• Title pawns: Up to $15,000, depending on your vehicle’s condition.

Required Items

• Payday loans:

  • Valid state-issued ID.
  • Recent pay stub.
  • Social security card.
  • Bank statement and a blank check.

• Title pawns:

  • Lien-free vehicle title.
  • Your vehicle for inspection.
  • Valid state-issued ID.

If You Had To Choose...

While you luckily don’t have to since the two types of fast loans can be combined, if you had to choose between the two different types of loans, what criteria should you consider?

• The value of your car. This is a big one, since it will determine what kind of dollar amount you’ll have access to. While title pawns can potentially loan you significantly more money than a payday loan, that’s entirely dependent on how much your car is worth. That itself is determined by the make, model, year, and condition of your car. Before deciding between the two loans, take stock of roughly what kind of condition your vehicle is in.
• Understand the risks. While payday loan and title pawn companies are often willing to work with you should you have difficulty in repaying your loan, all loans should be taken seriously and the cons as well as the pros well understood before you take one out.

Plan for Future Financial Stability

Now that you’ve got your financial problems stowed away and dealt with, it’s time to think about the next step: prevention. How do you prevent another financial emergency? There’s a few simple steps.

• Understand what went wrong. This one is pretty straightforward. What caused this financial emergency to flare up? Fixing a problem is all about understanding what went wrong and taking steps to make sure it won’t happen again, and that can’t be done without taking a frank look at what happened.
• Spend on prevention. There’s a saying that goes a penny of prevention is worth a pound of cure, and that’s true in every aspect of life. If for example, your current financial emergency was an infected tooth, then in the future it’s worth it to shell out the few bucks for regular dental cleanings to prevent it getting that bad again.
• Create an emergency fund. An emergency fund is a dedicated bank account that you contribute to monthly so that when a financial emergency does hit, you have the money to deal with it. They’re insurance against a rainy day essentially, and even saving a little each month can add up to a substantial amount over time.

How to Apply for a Title Pawn or Payday Loan

Title Pawn Application

1. Fill out an online form on our website.
2. Provide your lien-free vehicle title, ID, and vehicle for inspection.
3. Receive your cash—up to $15,000—on the same day.

Payday Loan Application

1. Bring your pay stub, social security card, bank statement, and blank check to our store.
2. Complete a short application process.
3. Get up to $500 instantly.

Get the Cash You Need Today

If you’re facing a financial emergency, combining a title pawn and payday loan could provide the relief you need. Both options are quick, easy, and accessible for most borrowers.

Start your application today and take the first step toward financial stability.

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