At one time, it was quite challenging for applicants with to get a lender for the car pledge. Over the past few decades, remarkably large numbers of people across the globe opt for car pledge. Although there are various options when it comes to loan such as personal loan, credit card, home-equity loan, etc. but unfortunately most of the banks and reputable financial institutions prefer candidates with good credit score and consider them trustworthy. Moreover, when you need quick fund you want instant approval of loan and money in your bank account as soon as possible but most of the loans have their own complicated documents requirements , lengthy verification process and long disbursement time consequently car pledge (รับจำนำรถจอด which is the term in thai) is becoming a solution option for quick money.
Be well aware
To avoid surprise or shock later when you are planning to pledge car you should be aware of all the terms and conditions. In case there is default by you, the lender has a right to sell the car in his possession and adjust its proceeds towards the amount due. Hence before taking any loan evaluate your ability to repay the loan otherwise you might not get your car back. Also check how the lender deals with the car of the borrowers so that once you repay the amount you can expect the car is in the good condition as before. The money you will receive depends on many factors such as condition of the vehicle, how old is it, availability of the proper documents, is the car with finance, etc. Hence go through all the relevant information before signing any contract.
Evaluate reputation
Car pledge can give you quick money but choosing the wrong lender could turn out to be nightmare. Hence invest little time and do proper research about the reputation and credibility of the lender. Read the reviews in the reliable forum and take recommendation from the well wishers.
