PAWN LOANS

By: Cesar Villegas

Description

Pawn loans are based on the value of personal property and is held until the borrower repays the loan, including trees
Interest rates and fees are set by a state of law and it normally makes them affordable.


AVERAGE RATE: 5%

SOURCES OF PAWN LOANS

ADVANTAGES

  • no credit checks loan amounts limited
  • only lose personal items expensive when extending a loan

DISADVANTAGES


  • Loan amounts limited
  • Expensive when extending a loan

Alternative Consumers

  • Payday Loans
  • Title Loans
  • Pawnshop Loans
A consumer might need this loan by buying a wedding ring or a neckalace