Can I Pawn My Car and Still Drive It?
What do you do when your budget is a bit tight and you need some cash instantly? You could wait until the end of the month. But what if that is too long? Maybe it is a time-sensitive opportunity? You could take a loan from the bank. But would it be approved? And even if so, would it be approved fast enough? There are friends and family that could help but you might not be a fan of borrowing money from friends. So, if you’ve ever wondered, ”Can’t I just pawn my car and still drive it?”, you’re in luck, because you can.
What exactly does it mean to pawn my car and still drive it?
Well, this is basically a type of secured loan. It means that if you own a vehicle, you can use it as security to obtain a loan against that vehicle. Once the loan is repaid, the sole ownership of the vehicle reverts back to you. What makes this solution great is the fact that it is easier to get a loan this way than getting an unsecured personal loan through a bank, as you have provided collateral to guarantee the loan. Also, because of this guarantee, the whole process is much faster and you can get the money as soon as the paperwork has been finalised.
Not only that, but if you pawn your car through a reputable credit provider such as Cash Drive, you get your cash instantly and you keep your vehicle, so you can still use it. This is, of course, great, because you need your vehicle to get to work every day. The hustle never stops.
Now, you may be asking yourself, “There must be a catch. How can I pawn my car and still drive it?” Ok, as can be expected, there are some terms and conditions to consider. First, and most importantly, if you want to pawn your car and still drive it, you need to actually own the vehicle you want to use as security. If you do not own it outright, or still owe money on it, the vehicle cannot be used to secure a loan. Another consideration is that the vehicle’s licence must be up to date. Lastly, it should also be in drivable condition. The loan amount extended to you depends on the value of the vehicle. The more the vehicle is worth, the more money you can potentially loan.
So, what do I have to do to pawn my car and still drive it?
It is so easy. You just go to the Cash Drive website and complete a short online application form. One of our friendly advisors will contact you and help you complete the transaction. You have to provide some documents, like your ID, your valid driver’s licence, your vehicle’s original registration certificate, and proof of address. You take your car to our office for an assessment, both parties agree on an amount, and the paperwork is finalised. Within hours, you have your cash in your account! The people at Cash Drive really make it that easy.