Pawning your car, Good Idea?

| July 22, 2013

CarInsuranceFeeling strapped for cash is something that Americans are feeling by the masses. Everyone knows the frustration and pure panic that is accompanied by the endless bills piling up on the kitchen counter. In fact, struggling to get by from paycheck to paycheck is a lot more common than many realize. From college age adults to forty-somethings and even the elderly, the daily struggle to make ends meet is become overwhelming.

It can be difficult to financially get by, but what can be done? Some will say that the answer is to go back to school, others will mention applying for a new job, but sometimes these are not great options. Striving for a higher education is never a bad thing, but unfortunately it doesn’t automatically mean it is easier to achieve a higher pay rate. In fact, there are many college graduates that are either unemployed or significantly underpaid. Not to mention, for most people, going to college means taking out large student loans and going deeper into debt. Looking for a new, better paying job can be just as time consuming.  It is a difficult task that others are doing in the masses. This doesn’t mean that better jobs aren’t out there, but the time and effort that will need to be applied may not be worth the payout. With all of that being said, what are some other alternatives for everyday hard working individual’s looking to make a little more than ends meet?

A great way to earn a little more money is to take up a second job or even make a hobby financially lucrative. Collect old records or baseball cards for example, there are buyers out there for almost anything; buyers who are willing to pay a good chunk of money for items you may not be interested in keeping around much longer. Sometimes it can be hard to let go of older items that may have more sentimental value then cash value. If this is the case, pawning your car might be a good option. There are plenty of companies that offer relatively low fee to take out a loan on the title of your car.  Think of taking a second mortgage out on your home, millions of people do so in order to fix up the place a bit, pay for their children’s college tuition, purchase a new family vehicle, or even just to have some extra income for a rainy day; now think of pawning your car in the same sense, it’s still yours and you still get to use it, you’re just taking a loan out on it and its worth.


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Category: Car Loans, Debt, Family Finances, Loans, Short Term Loan

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