Requirements for Preferred Pawn Loans and Preferred Title Loans

A preferred pawn loan / preferred title loan program, there are more requirements to qualify. Because there are more stringent qualifications, it offers better interest rates and loan-to value ratio. Please ask a staff member to see if you qualify for these preferred programs. We are more than happy to assist with your application. Because our goal is to help you in every way we can!

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 the amount of money borrowed in proportion to the value of the collateral.  For instance, a vehicle valued at $10000 would only be eligible for an auto title loan of $2500 to meet this requirement.
    • Moreover, value is defined by the Kelley Blue Book Private Party Value.
  • A credit score above 700
    • Most of our auto title loans don’t require any sort of credit score requirement. However, eligibility for our Preferred Title Loan program requires 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
    • Also a requirement for our regular auto title loans. Verified with a current utility bill with a valid address.
  • Current Employment
    • Proof of current, active employment is required. Therefore, proof can be verified with pay stubs from the previous 6 months.
  • Active insurance policy
    • Borrower provides evidence that the vehicle is actively insured. Furthermore, it must remain insured throughout the loan term.