Q: Can I still drive my vehicle if I pawn it?

• A: Unfortunately not. Laws governing pawnbrokers and pawn shops require us to keep the pawned vehicle in our possession for the duration of the loan.
  • Regrettably, the nature of pawned vehicles restricts your ability to drive them during the loan period. Compliance with legal regulations governing pawnbrokers necessitates that once you pawn your vehicle, it remains in the possession of the pawn shop until the loan is fully repaid. This means you won’t have access to the vehicle for regular use during this time. While it may inconvenience your daily transportation, this measure is in place to safeguard both parties involved in the transaction. It ensures that the pawnbroker can mitigate potential risks and uncertainties associated with the loan, while you, as the borrower, benefit from the security and transparency of this collateral-based financial arrangement. It’s essential to carefully consider this aspect when opting for a vehicle pawn loan and plan accordingly to meet your transportation needs during the loan duration.