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Eligibility Requirements for Title Pawns

Introduction to Title Pawns

A title pawn can be a helpful financial solution, but there are certain eligibility requirements that borrowers must meet to qualify.

 

Basic Eligibility Criteria

  1. Vehicle Ownership: You must own a vehicle with a clear or lien-free title.

  2. Age: Borrowers must be at least 18 years old to apply.

  3. Proof of Income: While credit checks are often not required, lenders may ask for proof of income to ensure repayment.

  4. Valid Identification: A government-issued ID is required to verify your identity.

  5. Vehicle Insurance: Some lenders may require proof of vehicle insurance to mitigate risk.

Factors Affecting Loan Amount

  • Vehicle Condition: The better the condition of your car, the higher the potential loan amount.

  • Market Value: Lenders often assess the current market value of the vehicle to determine loan terms.

 

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