If you urgently need money, one of the best ways to get it quickly is to pawn your car in Marbella, without having to give up your car and receiving up to 60% of its market value.
Pawn your car in Marbella – One of the best options
Owning a car is the same as owning any other type of asset, since all of them can be exchanged for a monetary amount. As we already know, there are traditional methods such as selling, but pawning is a widely used method nowadays because, unlike a traditional sale, pawning an asset allows you to recover it later.
Pawn your car in Marbella – Conditions
Pawning your car is a secured loan in which, in exchange for leaving an asset deposited with the company, the owner of that asset receives a monetary amount. It is important to note that each company establishes its own conditions.
The most common conditions or requirements when deciding to pawn your car are:
- The vehicle must be registered in the name of the person applying for the pawn transaction, who must be its sole owner.
- You must disclose any outstanding charges, debts or seizure orders affecting the car to be pawned in Marbella, as this is very important in determining whether or not the transaction can be approved.
- The vehicle must have all the necessary documents: technical data sheet, vehicle registration certificate, proof of municipal vehicle tax payments, among others.
- The vehicle must be less than eight years old.
Pawn your car in Marbella – Types of pawn
The transaction can be carried out under several types of pawn arrangements, including:
- With custody: This is the standard type of pawn agreement, in which the car remains immobilised and in the custody of the company providing the money for the agreed period, usually one month, although this may vary depending on the needs of each owner. This type of pawn generally offers a higher amount of money, but in return you will not be able to use your vehicle while the agreement is in force.
- Without immobilising it: In this case, the owner receives the corresponding monetary amount for the vehicle and can continue using it in exchange for paying the monthly instalments established by the company. If the monthly payments are not made, the lending company will become the new owner of the vehicle. This option gives the owner greater mobility, but in return they will receive less money for the pawn.
- Through sales management: In this case, the company advances part of the value of the car being pawned to the owner and pays the remaining amount once a buyer is found. This option provides an advance payment, but the owner will depend on the final sale price of the car.
- Through a direct purchase: In this case, the company will assign a value to the vehicle, which is the amount for which it is interested in purchasing it from the owner.
Pawn your car in Marbella – Should I pawn it or apply for a bank loan?
If you urgently need money, pawning your car in Marbella will be the fastest and simplest solution, as banks are generally stricter when granting loans and their response usually takes longer.
Eurosportucoche is the solution to your liquidity needs. Contact us and get more information about the conditions for pawning your car in Marbella or in any other location in Spain.
