Short Term No Doc Loans
Pawn loans are usually always short term loans set at 90 days; and usually the only documents you will need is your ID and proof of ownership. Your credit score is generally immaterial because the pawn shop keeps the pawned goods as collateral for the duration of the loan. A pawn loan by definition is a ‘short term no doc loan’.
Why do people need short term loans?
Short term loans (also sometimes called bridging loans) allow a person to act quickly when they need to but haven’t got the funds immediately available; for example a person might have a secured term-deposit with a bank that they can’t break without penalty or they might be awaiting the outcome of a bank loan application – sometimes requiring valuations which can take weeks.
A good example was a customer who had to pay a tax bill by 4pm on a particular day or he would be bankrupted. Before coming to us he tried to sell his pride and joy -a rare Australian muscle car – but he was only offered a stupidly low price. We were able to pawn his car and give him the necessary cash to pay his tax bill. He only needed the money for a few weeks – then he got his car back in perfect condition only to pretty much double in value again a year later.
Why do people need no doc loans?
We all know that when applying for a bank loan or a loan with a financial institution we have to spend a lot of time gathering information together for the lender. This can take a long time, even more-so during Covid; for example you might have to get several years group tax certificates, insurance information, valuations and certificates from authorities such as counsels etc’. All this takes a while and is not cheap. That is why many people need a short term no doc loan – to fund and bridge that period.
U-Pawn is a high-value collateral lender specialising in pawning Cars | Motorcycles | Boats and Trucks. From time to time we also pawn Heavy Machinery | Recreational Vehicles | Caravans |Trailers | Farm Equipment and even Aircraft.
U-pawn offer pawn loans from $1,000 to $50,000 and in some cases even more.
- We do not charge any Establishment Fees.
- We do not carry out any Credit Rating checks so; it doesn’t really matter if you have a poor or bad credit rating.
- There are no Repayments required until end of the loan term; similarly, you are not required to pay any interest until the end of the loan term. But, you cannot recover the car until you have repaid the loan amount in full together with any due interest.
We aim to keep it a simple process
It makes sense to pawn your goods when you need to raise cash quickly. Unlike banks, we are not bureaucratic and a loan can be raised in cash within a few minutes. We lend very generously against a wide range of items.
We’re conveniently located in Parramatta, Sydney.
To find out more just phone us to make an appointment to bring your car in, or alternatively might be able to come to you. In most cases we can give a ball park figure by viewing photographs of the car.
$$ Get Cash in Minutes $$
- Phone Us ☎️ 0418 225 372
- or fill-out the Online Application… and we’ll call you.
- Better still, in some cases we can come to you for a free pawn-value appraisal.
FAQs
Frequently Asked Questions
To learn more about our pawn loans please visit our FAQs page by clicking on the button below: