We are often asked why interest rates are so high on title pawns. It isn’t because car title pawn companies have bad intentions in mind. There are many reasons, but 4 main reasons we give you here why interest rates get so high:
1). High risk loan – this is determined by several factors.
2). Little to no documentation needed for these pawns – when very little documentation is required the pawn companies are taking a lot of risk.
3). No credit check is required – again the risk is on the company that loans you the money.
4). In this particular industry there is a higher rate of default and as a result, the rate to the general borrower is higher.
Ways to Get Better Interest Rates at Tri County Title Pawn:
Tri County Title Pawn offer the lowest rates for our clients in Madison County, GA and in Athens, GA. We reward are customers that are in good standing by lowering their interest rate periodically. We give lower interest rates to our repeat customers. We give out rewards to customers who pay on time. We pay referral fee to people who are our customers and the ones that are not. If you are interested in a car title pawn, Tri County Title Pawn is close by!