Services of automobile pawnshops are very common today. They offer money on the security of the car or the passport for it. The procedure for obtaining cash is relatively simple, you do not need to submit a lot of documents, guarantors are also not needed. But repayment of debt based on interest rates can be an overwhelming burden for the client. Therefore, before contacting the pawnshop, you need to carefully assess your ability to repay the loan, otherwise you will be left without a car.
What is a pawnshop?
This is an organization that issues borrowed money on the security of a car; sometimes they take motorcycles, tractors, excavators, boats, boats, etc. The sources of income of these organizations are:
- interest on the loan received;
- penalties for late repayment of a loan;
- proceeds from the sale of a car that the owner could not redeem.
Where is the car at the time of using credit funds
Usually, after issuing a loan, the owner must leave his car to the pawnshop. But there is another situation when the borrower remains in use by the borrower. But in the second case, the interest on the loan from the pawnshop is set much higher.
How to choose a good company
The search for a reliable and responsible partner is the key to the successful use of the service. Good proven pawnshop should meet the following criteria:
- Adequate interest rates and the total amount of the loan. If a pawnshop offers very low interest and a large loan, which makes up a significant share of the cost of the car, then you should sneak up suspicion about the integrity of the organization.
- Offer different loan options with different conditions.
- Pawnshop reviews should be mostly good and excellent. The company should not exist for the first year and have experience in this area and a circle of satisfied customers.
- After receiving a loan, your car remains at the pawnshop. If the car is parked in a covered parking lot with 24-hour security and there are surveillance cameras, these are good signs of a reliable and responsible company. Upon request, you must show the machine and its storage conditions.
- See who works in the company. If the appraiser, banker and manager are represented in one person, then it is clear that the organization is not serious and it is better not to mess with it. Equipped office, a professional team of employees, the presence of an Internet service should have every good pawnshop.
- Pay close attention to the contract being drawn up. A loan agreement should be drawn up in the pawnshop, not a sale and purchase, followed by a buyout or receipt. The text should not contain such items as, for example, a fee for cashing out or issuing money. The loan rate must be specific. The contract must contain information about the condition of the car: what are the scratches, dents, mileage, etc.
- Work directly with the pawnshop. If you are an intermediary, you will have to overpay. You can recognize the intermediary by the fact that in the document he does not indicate the address of his office.
Reviews about the pawnshop in the capital
This sphere of business in Moscow is very developed, there are more than a hundred organizations of this kind. Each has its own approach to customers and reputation. Reviews about Moscow pawnshops are found both positive and negative.
Union Credit
This organization is located in St. Petersburg and positions itself as a reliable and profitable partner. The company's website says that they have been working on the market for 20 years. The minimum loan rate can be 1% per month, they can issue an amount that is 90% of the cost of the car. The company gives out cash to all Russians, regardless of place of residence. To obtain them, absolutely no help is needed. Clearance and cash withdrawal is carried out within half an hour.
These unrealistic conditions immediately raise doubts . Reviews about the Soyuz Credit pawnshop by customers are mostly negative. They note that in the office they are offered a different rate than originally by telephone; they have to wait a long time to issue money. In reviews of the Soyuz Credit pawnshop, it is often noted that the attitude to customers and their treatment are rude and disrespectful. Some call this organization an intermediary.
"National loan"
It offers the receipt of funds on the security of a passport for a car, while the machine can continue to be used while paying off a loan. You can expect to receive amounts from 18 thousand to 5 million rubles. In addition to Moscow and St. Petersburg, the organization’s branches operate in many cities of the country, for example, Yekaterinburg, Kazan, Nizhny Novgorod, etc. Not only a car, but also a motorcycle, tractor, combine harvester, excavator, and water transport can act as collateral.
There are various reviews of the National Credit pawnshop - both good and negative. Many customers note the high level of service, the absence of queues, the quick examination of the application and the prompt issuance of money, good interest rates.
On the other hand, some customers express their negative opinions. They say that to pay a loan you need to go to the office of the company, but this is not convenient for everyone. Also, customers are not satisfied with high interest rates and what they initially offer on the website of the company and by telephone are small, but in reality they set high percentages during registration. Inoperability in customer service is also noted.
"Guarantor"
The company offers its services in Moscow. The pawnshop seeks to fully satisfy the requirements of customers and help them with receiving money at a moderate interest. There are five branches in Moscow. As a pledge, you can leave special equipment, motorcycles, water and air modes of transport, or other property. The company has been operating in the market for over 19 years.
As with previous companies, reviews about the pawnshop vary. There are many satisfied customers, but there are also those who are outraged by the service and do not recommend contacting them. In positive reviews about the Garant pawnshop, customers note prompt service, low interest rates, and professionalism.
But there are those who have had unpleasant experience of cooperation with the "Guarantor". Among the negative aspects of the company’s work, they call boorish attitude, accrual of a large penalty, they don’t meet the client, they promise one percent and the amount of the loan over the phone, but in reality they will give others.
"Capital"
The company positions itself as a reliable partner, which is aimed at serving the client as quickly as possible and creating the most optimal conditions for receiving money on the security of his car. The organization offers its services in Moscow. There are two options for receiving money - on the security of a car and on the security of a passport, that is, the car remains with the client in use.
Reviews about the pawnshop “Capital” are both very good, and so sharply negative. Satisfied customers note that the issue of money is made within 30 minutes from the moment of contacting the office, it is not necessary to provide a large package of documents. The company works seven days a week and takes any equipment as collateral.
In some negative reviews about the pawnshop, customers note that Capital specialists rate the car too cheaply, so they are ready to give out a smaller amount than the client expected. They note that the pawnshop does not establish close work with customers. It is noted that the car can be sold without the knowledge of the owner.
Pawnshops in Moscow and throughout Russia offer the issue of money on the security of a car or any other transport equipment. For some customers, this service is a great help in a difficult situation, and they can easily cope with payments. But also there are negative reviews of all the pawnshops. Almost everywhere, there is a discrepancy in the proposed interest on the loan by phone, and then when applying for a loan at the office. There is also a situation where in auto pawnshops the car is rated too low. Some companies have a disrespectful attitude towards customers. If someone is faced with this situation when contacting a pawnshop, then this can happen to you. Choose carefully and see reviews.