If you need fast cash and are considering a personal loan from a bank, it might be better to ask yourself another question – is there a pawnbroker near me? That’s because it’s much easier to obtain a cash loan from a pawnbroker than from a bank who wants to know everything about your life before they will even consider giving you a loan (and they still might not give it to you anyway).
Why is it important to locate a pawnbroker near you?
There’s a huge difference between getting a short loan from a pawnbroker and from a bank. The biggest difference is that the banks perform extensive credit checks on you, whilst your pawnbroker doesn’t care about your credit history. The second big benefit with accessing cash from your pawnbroker is that you get the money in your hand immediately, whilst the banks take forever to make up their minds. After all, when you want fast cash, you want it now so you can deal with your problems, not wait two weeks while the bank investigates your entire life. Whilst these are two of the best reasons to find a pawnbroker in your area, there are still other benefits as well!
Reasonable interest rates: Our interest rates start at 15% per month, which are among the lowest interest rates around for this type of loan. So these rates are affordable and don’t come tied up in paperwork and credit checks. Since your loan will only last for a maximum 90 days, that’s not a lot of interest to pay for immediate cash in your hand.
No application forms or paperwork: Filling in forms for a bank loan can drive you crazy and if you make one little mistake it can result in the bank refusing your application. We don’t have any of that, because all we need to see is proof of vehicle ownership and your ID. That’s it!
No proof of income or trading history: This is another way we eliminate the paperwork, because we don’t need proof of income or a trading history to give you a short term loan. When you are just starting a new business and you don’t have this type of proof yet it can be the difference between getting and not getting a loan with the banks.
No reference checks: We don’t need to call up previous employers to find out all about you and whether you are a good or bad credit risk. We simply take your vehicle as security and give you money immediately! That’s the power of finding a pawnbroker near you!
Are there any disadvantages of getting a loan from a pawnbroker?
Not really! Our interest rates are a little higher than some other short term loan options but there is no credit conditions to jump over. You also need a vehicle to use as security for your loan, which is set at a maximum 65% of the vehicle’s value. Of course when you apply for a bank loan, you don’t need to use your vehicle as security, but the process is so long winded and intrusive with banks, that this is more of an advantage than anything.
So if you want access to fast cash, you can’t go wrong thinking that a pawnbroker offers the best deal, because you can have the money in your hand the same day.