When a person requires urgent cash and does not have money available, it is the worst feeling ever. He tries for options such as a loan from lenders at high-interest rates which causes more of a burden later. A person might require instant cash for a medical emergency or a traffic ticket. There is an easy solution available where one won’t pay a high interest and get the cash instantly. The solution is ‘pawn my phone’. In this solution, a person can use their cell phone as collateral for instant cash. Here are the various advantages of pawn my iPhone or cell phone at a pawn shop.
There are many advantages to pawing when people need quick cash for emergency expenses. The details of some are below:
No credit checks
Most loan providers perform credit checks, provide a ton of paperwork to review and sign and may also require a co-borrower before providing the loan. The process takes a long time and most people cannot afford to wait when they already have a financial mishap or tardiness. Most times there is no chance of getting the loan amount a person desires unless the credit score is next to perfect. However, in a pawn shop there are no requirements of such procedures and there are no credit checks performed. Pawn loans do not affect a person’s credit score in any way. The pawnshop will issue an amount based on the collateral item that a person is willing to provide.
Low interest rates
The pawn shops provide cash services at low-interest rates compared to any of the competitors. It benefits a person tremendously because paying back is affordable. Even if the interest is not paid on time, the option to forfeit the collateral is also available. The loan does not need to be paid back and no further interest, fees or penalties are due. The collateral at this point to surrendered to the pawn shop.
Pawn shops provide quick service because the process is much simpler so a person can leave with money in a small amount of time. There are no long documents to read and sign. Usually there is a customer information sheet to complete for the shop’s records. All that is needed is the cell phone or another electrical device that is going to be used for collateral. The cash will be issued as the collateral is taken into the shop for the loan. The amount is decided by the pawnshops that are given for the product which is always reasonable.
If a person wants quick cash and does not have great credit score, pawnshops are the best solution for him. There is no need to worry about credit reports or wait for days to get approval. Instant cash is offered at a reasonable interest rate for the product or cell phone being left at the store as collateral.
If a person wants to ‘pawn my phone’ or any other electrical devices for quick cash at affordable interest rates, D & D Business Solutions is the place to visit. For more information, can check out https://ddpawnloans.com/.