Life sometimes puts us into desperate situations that call for the proverbial desperate measures. The financial crisis may require that you sell your car for quick cash. But you do not have to. You can pawn it. If you are in Colorado, buy-here-pay-here dealership is the place to go.
Here are four reasons why pawning is the best bet.
- Instant Cash
Securing money through the traditional loans from financial institutions is a long winding process. It requires you to fill numerous forms and even get interviewed. After these, you still wait for a few days to know if your request went through. Even when approved, it takes a few more days to get the hard cash. If you had an emergency, much would be lost by the time you receive the money.
When you choose to pawn a car at a buy here pay here Colorado auto dealerships, you can receive the cash the same day. All you need to do is prove that it is your car.
- You Can Keep Your Car
A vehicle is a tremendous asset to be sold when a financial crisis hits. Ever heard of the “tough times don’t last” line? It’s true they don’t. So if you sold your car at half its price in the heat of the emergency, you might regret the decision for a good part of your life.
When you pawn it, you can reclaim it. When the storm has settled, you can return to your buy here pay here Colorado pawnshop and pay the loan and interest. Then you will have your car back, as good as you left it.
- No Credit Checks
Yeah, that is right. Liability loans depend on the bank’s trust that you will pay. Consequently, they will dig up your credit score to determine if you are worth the risk. They may go a step further to check your spending habits and current financial situation.
Pawning is securing an asset-based loan, not a liability loan. Therefore, all the dealer is interested in is the value of the asset you are offering, your car in this case. All the other details such as your credit score, financial situation, and spending habits are irrelevant. You get what you give.
Obtaining loans from other financial institutions is a very open transition. The credit bureau can view it, even your future employer or business partner can if they ask for it. But with pawn shops, it is a private business between the two of you. Honor your part of the bargain, and no one gets to know about it.
It is important to note:
Before you offer your vehicle, ensure you are dealing with a certified, trustworthy dealer. Above all, read and understand the terms and conditions of the deal.