The interest rate of the Pawn My Car Atlanta as collateral varies between each pawnshop, ranging between 8% and 20% APR. In addition, in personal car guarantee loans, you must calculate the cost that you will have to assume in the event that you have to change ownership.

Other commissions are management and processing fees. The appraisal service is completely free. You can request the appraisal of the vehicle and not accept the loan without having to pay any cost for the service. In the case of early repayment, you will be subject to extra commissions, likewise in the case of not repaying the loan you will also have to pay commissions for late payment.

What is the difference between pawning and selling in credits with a car guarantee?

Pawn a car: you recover the vehicle once you have repaid the loan for your car. It is therefore a recoverable sale

Selling a car: you do not get the vehicle back after the sale

Endorse a car: the vehicle only acts as a guarantee and you never lose ownership of it. Only in the event that you do not repay the debt, you would lose the property

What requirements and documents are necessary to request car loans as collateral?

  • The car must be fully paid and free of charges
  • The car documentation must be up to date
  • They will ask for a copy of the technical file of the car
  • Copy of the proof of payment of the circulation tax
  • You must be the owner of the car
  • Copy of your ID or passport and that it is not expired
  • Last pay slip or proof of income (optional)

What is the difference between a loan for your car, a car pawn or a car guarantee loan?

Loan for your car: in a financing method by which you receive money for your car, either by pawning the vehicle or through the sale of the car

Car pawn: the car acts as collateral for the loan, the borrowing company keeps your vehicle until you have repaid the debt. It involves a change of ownership. You can use the car by paying a monthly rental fee

Car guarantee loan: the car acts as collateral for the loan, the borrowing company will only keep your vehicle in the event that you cannot repay the debt 

How much money can I get with the loan for your car?

You can get up to a maximum of between $10,000 and $20,000 in the loan for your car. This amount may vary depending on how old your car is, the condition of the vehicle, and paper works. The amount they offer is up to 60% of the vehicle’s appraisal.

Can I pawn a car with retention of title?

If you have little left to pay, it is possible that loan companies for your car accept to pawn your car. Companies do not accept cars with loads or with reservation of title, but these conditions may vary according to the profile of each client.