Need instant cash immediately? Having a tough time making ends meet within your life? Don’t worry – you are not facing financial problems alone because this is a common issue all over the world. Overspending, bad economy, investments tanking, are just some of the reasons that lead to a shortage of funds which find their way into our lives. It’s a tough situation when you need money urgently but don’t know how to proceed.
Collateral loans are the answer!
With jewelry, paintings, or antiques in your home, you don’t have to look far because you can use them as collateral to get the funds you require right away. We evaluate your items, pawn it as collateral and offer money in exchange. Contrary to common misconception, pawn shops like ours have qualified experts on board with years of experience under their belt when it comes to appraising items for collateral loans. To leave no room for doubt, we inspect the items thoroughly, assign a value to each, and provide you with a report containing the methodology used. We provide an estimate for the items, which is a no-obligations quote, allowing you the freedom to accept or reject our offer.
How do we operate?
First and foremost, a collateral loan is not an unsecured loan. In fact it is a secure option and is quite popular nowadays.
Are you applying for a bank loan? You need to meet multiple requirements and criteria and the process is quite long and tedious. And if you have a bad credit rating, there are less chances of securing the loan. We don’t bother with credit scores as collateral loans are subject to no such terms and conditions. You can get quick and easy money without having to fill out numerous documents or forms. We just ask for a valid state issued ID before beginning the process as required by state law.
Luckily California has some of the strictest laws that we must adhere to. Our loan period is 4 months with a 10 day grace period. Not to say the loan must be paid in full at the expiration of the loan period. We are more than happy to extend any of our loans by simply paying the interest due at which time we will give our customers an additional 4 months and 10 days. Having strict rules and regulation to follow helps build trust with our customers and gives everyone a clear understanding of Collateral Lending in California.
Interest rates for loans $2500 and under are regulated by the state, so you don’t have to worry about your rates changing or not being clear about how much money will be needed when your collateral comes due, unlike bank loans and credit card balances that never seem to go down. Collateral loans relieve you of this effort and since our loans are easily extended, you can pay it off with ease.
Maxferd Jewelry and Loan offers loans with fixed maximum and minimum terms of 4 months. The full repayment of the loan should be made in the maximum repayment period of 4 months, but can be made in full in as little as 1 day if the customer wishes to pay it off sooner. APR Interest Rates vary from 2% to 35.99%. Rates vary based on value of collateral as well as length of loan. All rates and terms of loans are strictly regulated by the State of California. Example: Amount Financed $2500. APR 24.12 percent. Length of loan 4 months. Total Interest charge $201.00 Total Interest and Principle is $2,701.
We guarantee that your items will be safe and intact with us until your able to pay back the loan and are ready to collect the items.
There are various details regarding collateral loans that you should be aware of before you apply for it. Please get in touch with us so that we can discuss and work out a simple process that will be both helpful and easy to understand.