Do You Want To Buy A New Car By Pawning Your Used Car In Los Angeles?

If you need to change your car, but you don’t have all the cash, the logical option is to finance it, and for that, you new car¬†apply for a loan, and put the same unit you buy as security for it. It is possible to do this by means of a loan, the vehicle being subject to this condition until the debt is paid off. Let’s see the particularities of this modality, and the commercial offer of Car Title Loans, so that you can access your credit.

This contract consists of the debtor delivering or registering a movable asset, in this case a vehicle, in favor of the other party, the creditor. This operation is carried out with the objective of providing additional security for the payment of this debt. In the event that the payments of the credit are not executed according to the agreed conditions, the creditor has the right to enforce it, and to collect his or her claim from the proceeds of such execution. It is important to clarify that the vehicle remains the property of the debtor, but its rights over it are visibly affected, since it only retains possession of the guarantee. Although it is a contract between private parties, which takes effect from the moment it is agreed, in order for it to be able to be opposed to third parties, it is necessary to register it, which is done in the automotive property registry.

The subsequent cancellation of this registration can only be made in the case of a judicial resolution, with a certificate attesting to having deposited the amount of the debt in the official bank, or at the request of the creditor or the owner of the thing, when an endorsement has been made.

With this in mind, it is important to note that almost all the banks operating in our country maintain this form of financing. In our case, Car title Loans offers you these conditions when you take out a credit for the title: the financing applies to the purchase of zero kilometer units, as well as used cars. This is a loan that will be repaid through the French system. Through it, you can access financing ranging from $3000 to $70,000. As for the payment term, it is between 6 and 30 months, and throughout this period of time, you maintain a fixed interest rate.

If you want to buy a new unit, you can finance between 80% and 85% of its value, the rest you will have to contribute through your previous savings. In the case of used units, depending on their condition, and on the evaluation of the applicant, between 40% and 70% of their value will be financed. This credit has pre-approval at the time, which you can apply for at any of our branches in California. As for the payment of the fee, it is made by automatic debit from your bank account, which is why you must have an active account at the bank. The cost of financing through this credit is an annual percentage rate. For more information, please contact our agents using the numbers listed on the website