Most people are familiar with a car title loan, where an individual offers their car as collateral. A title pawn in Mississippi is similar but with some minor differences. This short-term secured loan allows you to completely repay the borrowed amount in a short amount of time. It’s a great option for people who need money quickly because borrowing through a bank can take several days.
No Credit, No Problem
Like a standard pawn, a title pawn holds your title until you can pay back the loan value. You will still have your carThere is no in-depth credit check because your car is the collateral against the cash advance. Whether you have good credit or not, you may qualify for a title pawn as long as you can prove that you own your car.
A Better Option for Quick Cash
While a car title loan requires a credit check, a title pawn does not, which is why it’s the better option for some people. Knowing which type of loan would work best for you depends on your circumstances and the lending company. Not all lenders offer the same services, so asking the right questions will help you find one that can meet your cash advance needs.