Frequently Asked Questions About Car Title Pawns

Car title pawns typically work differently than traditional financing in that they allow borrowers to use the equity value of the vehicle as collateral for a short-term pawn. The borrower can continue driving the car even after borrowing against it until they have paid off their debt and have their title lien released. This type of lending is helpful for consumers who need money quickly but don’t want to give up possession of their vehicle.


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Why would someone consider taking out a title pawn and putting up their car for collateral?

People who find themselves in desperate situations or financial crises may be willing to take out a car title pawn. For example, the average emergency room visit costs $150-$3,000 according to Cost Helper Health. If an uninsured person were to wind up in the emergency room with an unexpected medical bill that high, they might need quick access to the money until they can pay their bill off. In other cases, people take out these pawns against their cars when faced with other financial difficulties. The Federal Reserve reports that in 2021 35% of Americans live paycheck-to-paycheck, meaning they have no money saved for emergencies.

What Are the Title Pawn Requirements?

Requirements vary from company to company but at Capital Title there are only a few requirements:

Your Vehicle 

Capital Title will conduct a 5-minute inspection of your vehicle to help to determine the equity pawn value of your vehicle. You can bring your vehicle to one of two locations near Tallahassee FL and South, GA.

Free and Clear Title

At Capital Title we do not require a free and clear title so if you are still paying on your vehicle, you could still qualify to get a title pawn.

Proof of Residency

A recent phone bill, utility bill, or even a bank statement with your current address can help you qualify.

Valid ID

Using a valid driver’s license or state ID.

Proof of Income

Although this may not be required you could qualify for more money if you can prove a monthly net income of $1,000 or more.

How Do I Apply for a Car Title Pawn?

Title pawns are designed to be quick and easy to get, just like most short-term pawns.  If you are located near Tallahassee FL or South GA, it is simple to first apply online at to see if you qualify as well as get an estimate of what you could qualify for based on the Year, Make, Model, and mileage of your vehicle.  This could save you time before driving to one of our two locations.

How Long Does It Take to Get Approved?

Approval can take very little time to complete depending on the pawn value of your vehicle and your income if required which shows the ability to repay the pawn. The entire process could be completed in an hour or less, but make sure that you provide all the information they require because if not your application will probably be declined or delayed until you have provided all the required information.

How Much Interest Will You Pay for A Car Title Pawn?

The interest you will pay is depending on the amount of money you borrow.  Not all title pawns charge the same amount.  At Capital Title we offer a 30-day interest-free promotion and if the money is repaid in this period, you may pay no interest. Ask the title pawn representative to see if you qualify. Some requirements must be met to qualify for this free promotion which will be explained once you are approved.

However, if you cannot pay off the pawn in 30 days then the interest fee must be paid to extend the pawn amount for another 30 days.  You may still qualify for the promotion when paying off your pawn.

How long does it take to receive my money?

At Capital Title there are two options for receiving your funds.  If you are an in-office applicant, you will receive a check for the amount borrowed after signing your agreement. If you are an approved borrower who is outside of our immediate service area, your funds may be deposited into your bank account by the next business day, depending on the time of day and your bank’s processing hours.

What if I can’t repay my car title pawn?

Typically, a car title pawn must be repaid within 30 days due to its short-term nature. However, it’s important to get only the pawn amount you need and avoid paying interest rates too high for your budget. If you cannot make payments according to the contract, you risk losing your vehicle.

Is a car title pawn right for me?

If you need money quickly, a car title pawn could be one of your options to get money fast. It is important that you fully understand the terms and conditions outlined in the pawn transaction or agreements because it will explain how much interest is charged, how much has to be repaid, and when, and help you determine if you can afford to repay based on these terms. By doing this you are better prepared when making important decisions regarding your financial health or well-being.

Deciding if a car title pawn is right for you is a decision only you can make.  Asking and getting answers to the above questions as well as understanding the fine print in the contract and the repayment terms can help you make that decision. Capital Title personnel can answer any further questions you may have to determine if a title pawn is the right solution to meet your financial needs.