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Why is a pawn loan better than a standard loan?

  • Writer: Chris Smith
    Chris Smith
  • Mar 29, 2024
  • 1 min read

Unlike standard loans that are taken against your credit score and a lien on your title, our title loan process in Orlando Kissimmee allows one to simply place their car, boat, or motorcycle as collateral solely against its current market value. There is no impact on your credit score with pawning a vehicle, which can be a huge relief for folks that do not have good enough credit to apply for standard loans. Even in the case of non-payment, there is no impact on the credit score as the title pawn shop would simply default the loan and sell the vehicle for recuperation. There is also the matter of interest rates, which are significantly lower in the case of an auto pawn loan or boat title loan in Florida than standard title loans.


So, if you want to get a loan for your car title, from $10,000 to $100,000 reach out to Florida Auto Pawn today!



 
 
 

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Florida Auto Pawn

1101 Miranda Lane

Kissimmee, FL 34741

© All Rights Reserved 2014-2024

Closer to Miami / Ft Lauderdale?

Try www.MiamiBoatandAutoPawn.com

State License Number: PN4628

 

  • Florida Auto Pawn does not conduct any credit checks.

  • No pawn loans are under 60 days. The pawn loan is not required to be paid in, or within 60 days.

  • The minimum repayment period is 61 days, the maximum is 10 years.

  • APR rates will vary based on the value of your vehicle however will not exceed 25%. 

  • There are no pre-payment penalties and there are no additional pawn loan fees or charges.

Representative Examples;

  • If you borrowed $10,000 over a 1 month period, your monthly repayment would be $1,300.00, with a total payback amount of $11,300.00 which would have a total cost of $1,300.00. Representative 13% APR.

  • If you borrowed $20,000 over a 1 month period, your monthly repayment would be $2,600.00, with a total payback amount of $22,600.00 which would have a total cost of $2,600.00. Representative 13% APR.

  • If you borrowed $50,000 over a 2 month period, your monthly repayments would be $6,500.00, with a total payback amount of $63,000.00 which would have a total cost of $13,000.00. Representative 13% APR.

  • If you borrowed $100,000 over a 2 month period, your monthly repayments would be $13,000.00, with a total payback amount of $126,000.00 which would have a total cost of $26,000.00. Representative 13% APR.

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