Pawning your motorcycle can be a practical and great way to access some quick cash whenever you need it. Whether you are facing some unexpected expense, or you just want to invest in a business opportunity, or you just want to bridge a financial gap, you can use your motorcycle as collateral at the pawn shop. It provides you with plenty of benefits.
Quick Access To Some Cash
One of the best parts about owning your motorcycle is that you can get quick cash. When you visit a pawn shop, you can get same-day or immediate cash. It makes a perfect solution for your urgent financial needs. Additionally, you need to know that the process is completely quick and stress-free so that you can receive the money you require without any long approval process. It is very different from the typical financial loans, and it is very easy.
No Credit Check Or Approval Process
When you pawn your motorcycle pledge (จำนำมอไซค์, which is the term in Thai) at the pawn shops, you do not have to go through a long approval process or credit check. Unlike the typical loans from banks of institutions, these pawn shops do not require you to have a good credit history or show some papers. Your motorcycle will work like collateral, and the worth of the motorcycle will determine the value of the loan. This is a great option for you if you do not have a good credit score.
Retain The Ownership Of Your Motorcycle
When you visit a pawn shop, you can generally retain the ownership of your motorcycle as you can use the motorcycle as collateral for a short-term loan. Once you repay your loan or any other fees or interests, then you can get the motorcycle back in the same condition.
No Risk To Your Credit Score
When you pawn your motorcycle at the pawn shop, your credit score is not at risk. It is very different from a typical loan, and there is no credit inquiry, late payment reports, or even a potential negative impact on the credit history. This makes it a low-risk option for you if you want to access funds without impacting your creditworthiness.
Flexible Payment Terms
The pawn shops offer you flexible repayment terms even though the standard payment term is around 30 days; extensions and renewals are generally available. If you need more time to repay your loan, you can discuss some options with the pawn shop and find the solution that works perfectly for both of you.
Conclusion
When you pawn your motorcycle pledge at the pawn shop, it is a great way for you to access the cash without any stress of credit checks or the risk of impacting your credit score.
