Springtime: Real Estate Peak…Auto Pawn Peek
Lately I’ve been mentioning the advantages car owners have pawning their autos through 800LoanMart. Here’s another…
My wife and I own two homes. We live in one; the other is about 15 miles away. We’ve been trying to sell it on a lease/purchase option, but our renters have to wait a few more months until their credit scores can qualify them for a loan sufficient to buy the house.
Even if we lower the price of the home, they’re STILL going to have to come up with cash for closing, per our agreement in the lease/purchase contract.
The problem is: most people don’t have several thousand dollars in savings, nor can they—usually—scrape it together to take to a closing table. I’m thinking, maybe I should recommend they investigate pawning their auto(s) for the cash needed for closing. They both have good paying jobs, their credit isn’t half bad, and I’m pretty sure their vehicles are paid off. Using their autos as collateral may be just what they need to facilitate their closing on the house.
Hmmm…
How about you? If you own your vehicle, and are a legal adult (18+), living in California, Arizona, or New Mexico, and are in a similar situation our renters are, you might want to apply online or walk in to one of our locations–or just peruse our website–to see how much of a cash loan you could get.
Maybe it would be enough for you to cover closing costs for your own real estate scenario.
Relevant Tags:california auto pawn, car owners, closing costs