Title Loans and Pawn Loans: What’s the Difference?

Car Cash Loans offers both title loans and pawn loans to borrowers in need of a financial boast in urgent situations. For example, many borrowers need quick cash at the end of the month to square up utility bills, medical bills, tuition, or other debts.  As long as the borrower outright owns their vehicle, they will most likely qualify. However, what is the difference between these two types of loans?

Los Angeles title loans require the borrower to leave the pink slip title to their vehicle with the lender. This backs the loan up to circumvent the need for a credit check. This is the perfect loan for those who need to continue to drive their vehicles for everyday chores and transportation. This is often the preferred choice, especially in a city like Los Angeles, where urban sprawl requires most people to have a car.

Pawn loans are different in that they require the borrower to leave their vehicles with the lender, where they are kept in a secure location. This can be for several reasons. Often, they simply do not use their vehicle very often and do not mind leaving it with the lender. This is the solution chosen by those who own a second vehicle they don’t use all that often such as recreational vehicle, motorcycle, of a classic car.

Whether car title loans or pawn loans are better suited to your needs, please contact Car Cash Loans today either by phone or by filling out the online form with your contact information.

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