Requirements for Pawn Loans and Title Loans

Preferred Pawn Loan Requirements

Our preferred pawn loans carry an amortized Annual Percentage Rate of 35.9% with a minimum repayment period of 90 days and a maximum repayment period of 90 days, but can be rolled over.

  • 50% Loan-to-Value (LTV) of the item put up for collateral
    • LTV is defined as the amount of money borrowed in proportion to the value of the collateral.  For example, an item with a worth of $2000 would only be eligible for a $1000 loan to qualify for a preferred pawn loan.
    • Value is defined as expected resale value on eBay.
  • A minimum amount borrowed of $1000
    • Pawn loans under $1000 are not eligible for the Preferred Pawn Loan program.

Preferred Title Loan Requirements

Our preferred title loans carry similar terms as our Preferred Pawn Loans, offering an amortized Annual Percentage Rate of 35.9% with a minimum repayment period of 90 days and a maximum repayment period of 60 months.

  • 25% Loan-to-Value (LTV) of the vehicle put up as collateral
    • LTV is defined as the amount of money borrowed in proportion to the value of the collateral.  For example, a vehicle valued at $10000 would only be eligible for an auto title loan of $2500 to meet this requirement.
    • Value is defined as Kelley Blue Book Private Party Value.
  • A credit score above 700
    • While the majority of our auto title loans don’t require any sort of credit requirement, to be eligible for our Preferred Title Loan program you must have a 700+ credit score.
  • Free and clear title
    • This applies to all of our auto title loans, and simply implies that the vehicle has no preexisting liens, or is not carrying a salvage status.
  • Proof of residency
    • This is also a requirement for our regular auto title loans and can be verified with simple proof such as a utility bill with current address.
  • Current Employment
    • Proof of current, active employment is required and can be verified with paystubs from the previous 6 months.
  • Active insurance policy
    • Borrower provides evidence that the vehicle is actively ensured, and will remain ensured throughout the loan term.