Today’s times are fast-moving, and unforeseen things happen. Sometimes these things are costly. A major repair. Those who do not have enough financial reserves cannot avoid applying for a loan or small loan. But there is also another way to get short-term money. In this article, we will take a closer look at the possibility of “pawning a car.”

Pledge/Loan Your Car

Everyone knows the principle of the car pledge (รับจำนำรถจอด which is the term in Thai) pawnshop; pawnshops have been around for centuries. You take an item of value, take it to the pawnshop and get cash for it immediately. You then have a certain period to buy back the loaned item. The pawnshop earns money from the fee.

And this principle also applies to cars or all other vehicles such as motorcycles, mobile homes, caravans, vintage cars, etc. In large cities, pawn shops are specializing in cars (vehicles). These have secure halls in which the pledged cars are stored.

Borrowing From The Inhibition Threshold With The Car

This is usually large because the car is a man’s favorite child. But if there is a shortage of money, then the car loan can be a real and quick help. Because there is a relatively large amount of cash, and it is instant. The only thing you have to do without your wheelchair is until you have triggered your car again. But there is now also a possibility that we will present to you in more detail below. First, let’s take a closer look at the business model.

The Car Pawnshop – How Does This Business Model Work?

The customers of a car pawnshop need money quickly. Usually, a conventional loan with a bank is eliminated. It takes several days for you to have the money in your account or your hands. To get money from a bank, you also need the necessary creditworthiness. If this is missing, your loan application will not be approved. Creditworthiness does not play a role when borrowing a car; the pawnshop has your vehicle as a deposit, which is enough to cover its costs, just make sure not to have a car backlog (รถค้างค่างวด which is the term in Thai).