How To Pawn Your Car To Have Money Quickly?
It can happen to everyone to go through difficult times when there is an urgent need for money, but none of his family circle or his acquaintances can lend the sum. In this case, there is often the alternative of a pawnshop. You can pledge your gold jewelry, antique furniture, valuable collections, etc. just as well as your car.
Thus, if we do not present a solvency profile in the eyes of the lender, this solution makes it possible to guarantee his credit and obtain the desired contribution of money. What are the procedures to follow in this process, and how does it work?
How Does This Pledge Loan For A Car Work?
To be able to use this solution, you must be the owner of the car. Any vehicle can be pledged up to the boat, pleasure sailboat, speedboats etc. The lender also requests the certificate of non-pledge of the deposited property. If it is a car of a company, the agreement of the structure will be requested.
When you pledge a car on finance (รับจำนำรถยนต์ติดไฟแนนซ์, which is the term in Thai), the operation is registered at the prefecture which issued the registration document. Resale of the car is not possible until the last repayment of the borrowed money.
The money provided by the lender depends on the value of the car. This value will be left to the care of the auctioneer. The borrower can obtain the loan within 24 hours after the agreement. The amount allocated is generally half the value of the automobile. The reimbursement of this amount must be made within 12 months of the contract.
However, if at the end of the contract, the debts of the loan are not yet paid, the car will be auctioned. The means to recover his property will then be very minimal. In this case, if the price of the car is less than the loan amount, the borrower would have to pay the price offset. Otherwise, the money over debts will be given to the one who made the credit. Note that some creditors are not transparent. It is, therefore, important to read the contract carefully when signing.
