Kerryn Boogaard Kerryn Boogaard
Beverly Goldsmith Beverly Goldsmith
Zoe Bingley-Pullin Zoe Bingley-Pullin

The Big Perks of Using Pawn Loans:

Your lifesaver in times that you need cash the most.
By Expert Tips
Date: January 28 2020
Editor Rating:
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Have you ever had that urgent need for some extra cash but feel like you’ve run out of options?

Sometimes life throws curveballs at us such as house repairs or medical bills and we suddenly need cash that we simply don’t have. All sorts of costs can pop up out of nowhere, especially when you have a whole family to think about.

Luckily, there are options out there that can help you get your hands on some much-needed cash. Perhaps one of the most straightforward options is a Pawn Loan. But what exactly are the perks of using Pawn Loans as opposed to more traditional lending options?

No credit or employment checks

Pawn Loans simplify the loan process by removing complicated checks. Your loan is based on the value of the item that you are pawning so the lender doesn’t require your credit history or employment checks. All they need is the registration paperwork for whatever it is you are pawning (such as a car) and enough proof of identification (usually 100 points).

This can be particularly useful for people whose situations may not necessarily look promising on paper. For example, a stay at home mother who hasn’t worked for the last few years could be refused a traditional loan based on the employment check, but a Pawn Loan wouldn’t discriminate against her on this basis. And of course, the lack of checks helps to speed up the whole process which allows you to get your hands on that all-important cash a lot quicker.

Instant cash

With many Pawn Loans in Sydney, you can get the money in your account very quickly. It can be in your account on the same day or even within minutes. So whatever you need money for, you can get it quickly with a Pawn Loan.

You can pawn a lot of different things

Certain items are more pawnable than others and some Pawn Loan providers are more flexible than others, but in theory, there are many things you can pawn. Many people tend to pawn cars or bikes. Others pawn caravans, trucks or even boats and jet-skis. Whilst you can’t pawn absolutely anything and there are certain rules and restrictions to Pawn Loans in Sydney, they can open up new opportunities to help you get your hands on some quick cash for emergencies or life’s little treats.

Large amounts

Depending on what exactly it is you pawn, you could borrow a lot more than a standard Personal Loan. The Pawn Loan amount is directly related to the value of your item and some companies can offer up to $200,000. So, if you need a huge amount of cash for expensive medical bills or another kind of emergency, a Pawn Loan could be your saviour.

Conclusion

The idea of pawning a valuable item can seem scary, but it can be a great way to get your hands on fast cash without the time-consuming processes. Pawn Loans allow you to get access to cash when you need it most. In many cases, you can borrow more money, get it faster and don’t have to worry about your credit history. So, why wouldn’t you consider a Pawn Loan?

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