Title Loans Gainesville, Georgia
Consider another approach to getting a loan by taking out a Georgia title loan in Gainesville, Athens, or anywhere in the state. More widely known as title pawns or pawn transactions, you can get up to $10,000! You will get instant approval and a loan the same time you sign the contract. These loans work the same as a pawn transaction, in which case you are going to exchange your vehicle title for cash assistance. Once you pay off your title pawn, you will be able to get your vehicle title back!
Application Process
You will need to apply online or over the phone to get started on this process. You are going to have to provide us information about your vehicle on the application, such as the make, year, model, mileage and style. A loan will be calculated based on the current worth of your car. Some individuals may be granted the maximum borrowing amount if they have newer models. After you give us an application, we will contact you informing you of the loan you are estimated to receive. A pawnbroker will be notified of your application, and you will be given the location of their store. They will also let you know of paperwork you may need to gather before visiting the site, including:
- Photo ID: Driver’s License or State ID
- Proof of income: Recent bank statements or pay stubs
- Proof of insurance: Depends on your lender, must be full coverage
- Vehicle title
If you do not have your vehicle title, you can visit a county tax commissioner, such as:
How Title Pawns Work
Based on where you reside, you will be given the address of a pawnbroker. You will need to bring in your vehicle with you when you visit the site. At the site, your application will be looked over and the lender will need to do an inspection of your vehicle. Damages and previous car history can reduce your loan. Any damages to the car will be documented and can be used as a reason of giving you a lower amount. After this quick inspection, you will be given a title loan quote. You will then exchange your vehicle title for the money, which your lender will place a lien on. After you have paid it off, the lien will be removed and you will get your title back. A common misconception is that the lender will keep the vehicle at the site, however, our pawnbrokers only hold onto your title so you are free to drive your vehicle wherever you need to go.
Renewals
You are initially given 30 days to pay the loan back. However, if you cannot make the payments by that date you are allowed to renew the loan. The state of Georgia allows pawn transactions to be renewed for an additional 90 days. After those 90 days, if the loan is still not paid off your pawnbroker will repossess the vehicle. Once it is taken, they will inform you of their intent to sell. Selling the vehicle for the current market price will often cover the cost of the loan. You will be issued a refund if they make more than they need, and will be notified if the cost does not cover your remaining balance. Loan renewals also come with higher interest rates, so it is important to pay it off within that 30 day maturity date.
