What is the difference between a loan and a title pawn?
To get a loan, the institution will run your credit to see if you are worthy of a loan.
A loan will charge you a doc fee or loan origination fee.
A title pawn does not run your credit.
A title pawn is a short-term pawn when you are in a pinch.
A title pawn is better than a credit card loan. Why? A title pawn may have the same interest rate as a credit card for the first 3 months, but after 90 days, the interest rate drops. A credit card never drops.
A credit card loan has a late fee of $41 plus and a title pawn doesn't have late fees.
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