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The ULTIMATE Guide to Vehicle Pawn Shops

A vehicle pawn shop is different from your tradition pawn shop like you’ve seen in TV shows like Pawn Stars or Hardcore Pawn. Unlike these types of shops, vehicle pawn stores are able to help people who require larger amounts of cash because you pawn your vehicle. In addition, vehicle pawn stores will accept a wide range of vehicles, including:

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  • • Cars
  • • Trucks
  • • SUVs
  • • Crossovers
  • • Motorcycles
  • • Limousines
  • • Boats
  • • Jet Skis
  • • Sail Boats
  • • ATVs
  • • Golf Carts
  • • Snowmobiles
  • • RVs
  • • Construction Vehicles, and More!

How to Pawn Your Vehicle for Cash

The process to pawn your vehicle would be similar to taking it to a car dealership and having it appraised. When you bring your vehicle in, it will be valued. The value of the vehicle will depend on several factors, such as:

  • • Make
  • • Model
  • • Year
  • • Mileage
  • • Condition


The amount of cash offered for your vehicle is based on its condition, not your credit score. You are under no obligation to accept this amount. However, if you need cash quickly, then you will want to seriously consider the offer.

Unlike taking your vehicle to a car dealer, you do have the option to get your car back if you decide to pawn it at a car pawn shop. At a car dealer, you are basically selling it to the dealership for cash and cannot get it back.

If you decide to accept the cash offer for your vehicle, you will need to turn over your vehicle, the keys to the vehicle, and the title. The title must be clear and free and cannot have any other loans or liens on it.

Your vehicle is placed in a secure location and the title is put into a safe. The vehicle is held for the agreed-on loan period. Loan periods are normally for 30 days. However, there are options if you need to extend the loan for another 30 day period, up to 90 days. After 90 days, you will need to sign a new contract agreement.

During this time, you can make payments, or wait and just pay one lump sum, along with a 10% fee. If you cannot pay off the entire amount owed by the end of the 30 days, you must at least pay the 10% fee to extend the loan for another 30 days.

Every month you must pay the 10% fee to keep the loan active and prevent losing your vehicle permanently. If you miss paying the 10% fee, your pawn loan IS NOT automatically extended. Instead, the vehicle is put up for sale by the vehicle pawn shop.

What if I Just Want to Sell My Car for Cash to the Car Pawn Shop?

If you just want the cash for your car, this is an option. You bring your car in, have it appraised to get your value, and decide if you want to sell it for cash. Rather than entering into a pawn loan agreement, you sign your title over to the car pawn store, give them the keys to your car and your vehicle, and walk away with cash in hand.

The vehicle is then put up for sale on the vehicle pawn store’s used car lot for someone else to buy. This option is great if you have an additional vehicle you do not need or no longer want. Rather than having to find someone to buy it yourself, you can quickly convert it into cash today.

Whether you pawn your vehicle or decide to sell it for cash, the entire process takes less than a half hour to complete. You walk out with a check in your hand you can cash immediately.

money in back pocket

Why Wouldn’t a Vehicle Pawn Store Accept My Vehicle?

Vehicle pawn stores are similar to car dealerships. They want to purchase quality used vehicles from people who want to pawn them for quick cash. The amount of money a car pawn shop can offer you is related to the vehicle’s wholesale value, along with the other factors we talked about earlier.

For example, let’s say you have a 2001 Ford Focus in good condition with 200,000 miles on it and want to pawn it. The current wholesale value for this particular vehicle may only amount to a few hundred dollars. In this case, the car pawn store may not even accept the vehicle for a vehicle pawn, but it might be willing to give you a few hundred dollars to just buy the vehicle from you.

Is There Any Limit to How Many Times a Vehicle Can Be Pawned?

You can pawn your vehicle more than once, if needed, as long as the title remains clear and free. Plus, the vehicle cannot currently be under an existing pawn contract. Just bring your car in, have it valued, and walk away with cash in hand today!

Buying Vehicles from a Vehicle Pawn Shop

For people shopping for a quality used car, car pawn stores are a great place to shop. Vehicle pawn stores want to build long-term relationships with car buyers. They won’t rip you off, and they offer fair prices on used vehicles. Plus, you can find a wide range of used vehicles all in one location.

Once you find the used vehicle you like, the buying process is similar to a car dealer. You can take the vehicle for a test drive to make sure you like it. If you like it, then you can haggle about the purchase price until you work out a final sales price.

Unlike car dealers, a car pawn store offers other financing options that are not based on your credit score. If you have poor or bad credit, an auto pawn loan could get you behind the wheel of a quality used car today.

man handing woman keys

Financing and Auto Loan Options

You have four different financing and loan options when you buy a used vehicle from a pawn store, as follows:

  • Credit Union Financing: If you want to finance the car through your credit union, we are a member direct lender with many credit unions in the area. We file the loan application on your behalf, and you get your great credit union rates. Plus, we never charge any dealer handling fees.

  • Bank Financing: If you prefer to finance your vehicle through your bank, we can assist in the transaction. We can set up the financing on your behalf, quickly and easily.
  • Layaway: With vehicle layaway financing, you pay a down payment to hold the vehicle for a set period of time. During this time, you can make payments on the vehicle or pay off the balance owed before the expiration of the layaway contract. However, you do not get to drive the car home until your layaway is paid in full.
  • This type of financing works well when you know you will be getting the money you need to buy the car in the future, but don’t want to risk losing the vehicle and the great price. If things fall through, you can always roll your layaway into BHPH financing.

How Can I Get Approved for BHPH to Purchase a Used Car?

It is easy to get approved for BHPH even if you have prior credit problems or a low credit score. The general qualification requirements you must meet to be approved include:

  • Provide Proof of Residence: You need to show you are a resident of the state. This could be your apartment lease agreement, bank statement, electric bill, or some other utility bill.
  • Have a Valid and Current Driver License: You cannot drive the car home if you don’t have a license.
  • Proof of Income: You need to provide copies of your most recent pay stubs showing you have a source of income.
  • Down Payment: You will need to put some money down before you can drive the car home. Often, this amounts to the first bi-weekly or monthly payment amount.
  • List of References: You need to provide us with a short list of references.
  • Current Employment Information: We need to know where you work.

If your plan is to drive home in a quality used vehicle today, then remember to bring these things along with you when you visit our auto pawn shop.

Vehicle pawn shops are much more than just somewhere to pawn a car for quick cash, and they also offer quality used cars for sale. For more information about pawning your car or getting BHPH financing to drive home a used car, please feel free to stop by your nearest Massa Auto Pawn & Sales location or contact us at 720.598.0081 today!