What is the difference between a Title "Pawn" and a Title "Loan"?
Is there a LEGAL difference, or is this just tricky semantics on the part of finance companies?
Thank you.
What is the difference between a Title "Pawn" and a Title "Loan"?
Is there a LEGAL difference, or is this just tricky semantics on the part of finance companies?
Thank you.
That will depend on the applicable state law, and you did not indicate the state.
Read this:
http://www.chesapeakepawnandgun.com/...and-pawn-loans
If that doesn't help you, you can reveal your state and some details about what's happening to you that gives rise to the question.
Generally, however, the nature of the financial transaction is detailed in your contract which, I hope, you will actually read and understand before you sign it.