Pawns CA - FAQ
How do auto pawns work?
There is two types of auto pawns. One makes you leave your
auto with them while the other does not. We do not require you
to leave your vehicle with us however we do require that we hold
onto your title.
The first step is to see how much
your auto's value is. Not all
auto pawns are alike in this regard either; but all give about the
same amount of money for a loan. Some give a small amount of the
retail value, some a little larger for wholesale and still others
a larger amount for the auction value. We go off the auction value
because this way we know how much your auto is worth right
now in today's market. Then we give you the maximum amount
of that value.
This usually ends up given you a few
hundred more than any other method. Once you know the value, we then
work with you on the paperwork. This take under an hour. Finally, we
either send you immediately to one of our broker locations or if
none is close by to you, we will dispatch a mobile notary. We have
over 450 broker locations in several states.
What is the interest rate?
Auto pawns are short term loans and are expensive. We charge 7.5%
monthly on loans above $5000 and 8% monthly on loans below. All
loans have a $75 document fee and loans above $5,000 have a
administration one-time fee as well. You will never be charged any
money up front to get a loan and the entire process is free, even if
you elect to not do the loan.
What types of vehicles qualify for an auto pawn?
We take cars, vans, SUVs, pickups and even custom vehicles. We do not take
motorcycles, boats or RV's.
When would my first payment be due?
The first payment on the loan is 30 days from the date of the
signing of the loan agreement.
What is the difference between title loans and auto pawns?
Nothing. Auto pawns also go by the name pink slip loans and
installment loans. Basically they are all the same.
If I just want a few hundred, do I have to go through all the
First, all auto pawns are governed by the laws of the state. In
California the smallest loan we can give you is $2600 but there is
no maximum amount. It is all based on your vehicles value. We know
that the process may seem like a lot of work but in fact, it just
takes a few minutes and we make it even easier by having specialists
on staff to help you with any part of the process. Our goal is to
make this as hassle free as possible, Because of this, hundreds of
people use us daily.
Will this effect my credit?
Auto Pawns do effect your credit in a positive way. Since it is so
hard to get a large loan when you have bad credit, most customers
get turned away by normal financial institutions. Auto pawns do not
look at your credit, rather your auto! All payments get reported to
the credit bureau which means that this is a way to improve your
credit rating, even with bad credit before.
How fast can I get the money?
You can get your money the same day in most cases. Worse case the
next day. We do need to see the vehicle which means when you come in
to get your cash, we will look at the auto and take pictures. If we
send out a mobile notary, they will do the same. All auto pawns do
the same thing in this regard.
Can the title to the auto be from out of state?
No, we need it to be from California but we do have a DMV department
in house that can help you overcome any title issue with any state.
What is my first step? How do I get started?
Simple. Either chat with us online or fill out the online
application 7 days a week. Within minutes someone from the
underwriter team in auto pawns will call you and go over al the
terms and direct you in the process. Again, this is easy and fast.
Have a clear title? Consider Auto Pawns as your cash solution in