Bad credit loans are designed to offer cash to lend on a collateral loan. Things happen in our day to day lives and it’s amazing how in this day and age one quick mistake can leave us with bad credit.  What’re we to do when life strikes again and financial institutions simply won’t lend us the cash we need?  At West Valley Pawn & Gold, we offer lending that is not based on your credit score.  We simply don’t believe that one three digit number should define our entire lives.  Therefore, we are happy to offer bad credit loans if you find yourself in this situation.

How Do Bad Credit Loans Work?

What we specialize in is a special type of financial loan known as a collateral loan.  This is actually very similar to a car loan or a house mortgage.  Most consumers think that these are different, but they simply aren’t.  With both a car and home loan, the bank places a lien on your asset until the loan is paid off.  This is the protection financial institutions take to ensure that the money loaned is not lost. 

The main difference is that a  bank loan requires detailed information, employment history and credit ratings.  Based on your finances and history they determine whether you qualify for a loan or not and how much. 

However, West Valley Pawn & Gold thinks of lending in a different way.  We believe that every one should have a chance to get the cash they need and fast!  In addition, we are happy to work with you and offer many options to get the cash you need in your hands!

Our bad credit loans are based on the value of your vehicle, not your credit rating.  Our secured lending can put cash in your hand today, and let you drive your vehicle while paying off the loan. 

Collateral Loans

As described above, a collateral loan is where you use an asset as a kind of insurance that you’ll repay the item.  It allows us to loan more aggressively than a financial institution might as we can take possession of your item to repay the original loan if necessary.  While we’re extremely flexible and have many options in place to ensure this never happens, this is why we can loan as much cash as we can.  Let’s take a look at the different collateral loans we have available for our bad credit clients.

Auto Title Loans

Perhaps our most popular bad credit loan product, this is pretty much exactly what a traditional auto loan is.  The only requirement is that you own your vehicle outright.  This is the best way to go from financial emergency to thousands of dollars in your hand within a matter of fifteen minutes.  That’s right, we can literally loan thousands of dollars within mere minutes at West Valley Pawn and Gold.  We use the value of your vehicle to dictate the amount of your loan, and are able to ignore things like credit, income, and other factors banks might use.

A large determining factor in determining the amount of your title loan, and things like your interest rate and monthly payment is a proportion known as loan-to-value.  This is the amount loaned relative to the actual value of your vehicle.  Obviously, the lower this number is the lower your interest rate and monthly payments.  We are able to take into account things like credit and income if you’re looking for a higher loan-to-value or a lower interest rate.  Although, they are far from a necessity and you’re still able to secure a title loan without either one of these.


Pawn Loans

These are the same as collateral loans, but for the duration of the loan we hold on to possession of the item.  A pawn loan is normally for lower value loans, but can still easily reach into the thousands of dollars with the right items.  Here are the items typically used in pawn loans.

Electronics Loans

Maybe jewelry isn’t your thing.  Therefore, you don’t have gold, silver, or diamond jewelry sitting around the house, but still need a few hundred dollars.  We can easily do electronics loans as well.  We lend on televisions, cell phones, stereo equipment, whatever electronics you have sitting around.  These work the same way that our jewelry pawn loans work.  Meaning, we retain possession of the item for a ninety day period and you pay it off whenever you’re ready.

Jewelry Loans

Gold, silver, and diamond jewelry can be on the low value end or the extremely high value end.  Things like engagement rings can easily run into the tens of thousands of dollars, being worth more than a vehicle.  However, due to how small these items are, West Valley Pawn and Gold has to retain possession of these for security.  If you don’t need the thousands of dollars from a title loan, a jewelry loan is more appropriate.

Why West Valley Pawn and Gold?

With over a decade of cash loan experience, we’ve been supporting those members of the community with bad credit for well over a decade.  We specialize in getting our customers bad credit loans in Phoenix, Goodyear, and Avondale no matter the circumstances at fair and reasonable interest rates. 

Don't Let Bad Credit Stop You. West Valley Pawn is here to assist!