The four
letter word ‘L O A N’ plays a pivotal role in our life. Being a bit creative on
these four letters I find some interesting story to narrate; namely ‘L’ for
lion, ‘O’ for orderly, ‘A’ for arranged and ‘N’ for negotiation. Your ‘LOAN’
should therefore refer to an arranged and negotiated lion in an orderly manner.
If look at this new found definition of ‘loan’ you will essentially get to know
the underlying truth as to what a loan may mean to you.
Your loan however
appears to have the magical powers of fulfilling your dreams in real life. But,
the million dollar question is which way to go – cash for title loan or open
car title loan supposing that you are willing to buy a car on loan? That’s
a tricky question for sure since you can’t afford to take loan providers on
their face values. Let’s compare vehicle title loan VS pawn for cash. After all
knowledge is power to you and it is this knowledge that can help you sail over
the issues of finding the best match for you out of the different loan options
available in the market.
Vehicle title loan VS pawn for cash:
Let me
begin with a question here. Which one do you prefer over the other – pawn vehicle for cash or cash for title loan? To make the choice
easy for you let me tell you that there can never be a uniform reply to this
question as we human beings belong to the different socio-economic strata and
therefore our purchasing power or requirement greatly differs on an individual
basis. Whether you borrow with your car
or not your loan ultimately translates to your liability to be paid off within
a stipulated time frame as per the provisions of your loan agreement.
On availing
vehicle title loan you continue to use the vehicle subject to the fulfillment
of the terms and condition laid down in your loan agreement. Your car remains on
lien with the loan disbursing authority. This exposes you to the risk of losing
the vehicle as well as the money paid during the tenure of the loan
installments in one go the moment you fail to honor your commitment as per the agreed
terms and conditions.
Pawn for
cash on the other hand works as a personal loan on pledging your property such
as your car or house. This sets you free from losing the money as you have
already availed that in advance. But, the crux is you don’t get the 100% market
value towards your loan amount against the property on pledge. The percentage
of money that you can avail here towards cash differs from company to company. Prior
to sanction of the loan amount valuation of the property is done by an approved
valuer and then the loan percentage is decided based on your property value and
your earning potential in sync with liabilities, if any.
You may be
tempted to conclude here to go by the pawn for cash – that’s handy in the
matters of fulfilling your wishes come true in life. But, like every other
things around you there are two sides of looking at the issue. To precise, in
case of pawn for cash you have to first purchase the car for example by paying for
it out of your own resources while vehicle title loan allows you to enjoy the
comfort of having a vehicle on lien. You however keep paying off the loan
amount in installments as agreed. Vehicle title loan therefore sets you free for
investing your money into some more productive pockets like your own business
where percentile returns has no limit based on your field of operation.
Points to ponder while availing car title loan:
Ø
Quick loan approval as fast as one hour that in
turn eases out the loan documents.
Ø
Handsome money somewhere close to $30,000 or
more - that’s useful.
Ø
Low interest rate - as low as 85% over the pawn
for cash option.
Ø
Free to use the car.
Ø
Apply online at the comfort of your home and
office.
If you
agree with my line of thoughts that advocates for vehicle title loan you should
then concentrate on the options available in your market. You must weigh every
option before closing on a deal. Because, there are several terms and
conditions laid down in the loan agreements that you might miss at the time of
availing the loan and these would surely come up as hurdles later.
Nothing
discussed herein above however would sound flawless or sacrosanct since a loan
should always be a subject matter of personal convenience based on your
socio-economic strata. But, playing safe in the matters of loan is the sure
success way for leading a stress free life.
