5 Things You Can Use As Collateral For An Asset Based Loan

It is not rare for most of us to wonder if selling an item would make up for an urgent monetary need at hand. Perhaps you need to cover some car repairs, or a family member has medical bills piling up; it could even be something as simple as that flat screen TV you have been eyeing for a while. But is selling your valuables the only option?

Fortunately, no. A recognized pawnshop in Dallas can solve most of your money problems with ease, without you having to sell that precious watch your grandma left you.

Meet asset based loans. Using your valuable assets as collateral, pawnshops like Private Asset Loans offer asset based loans with exceptional features like lower interest rates and flexible repayment plans.

But the question is, what can you use as collateral when applying for an asset based loan? Find out below:

#1-Luxury Watches

Pawnshops accept all sorts of luxury watches as collateral. If you have a luxury watch or multiple watches sitting in your cupboard, it is time to take them out.

Pack them up and take them to your local pawnshop in Plano. When you head down, experts will assess the value of the watches and make you an offer. If you accept the offer, the amount is typically deposited in your account the same day. You can then get your watches back once you pay back the loan—no need to sell them.

#2-Jewelry

Whether it is gold, diamond or silver jewelry, it is all worth a good deal of money. What’s even better is that all sorts of expensive jewelry can be used as collateral for your asset based loan. No longer do you need to deal with the emotional trauma of selling off your favorite piece of jewelry.

#3-Luxury Purses

If you have been fond of purchasing bags from luxury brands like Louis Vuitton or Gucci, there’s good news for you. You can use expensive and luxury bags as collateral while applying for an asset based loan at a pawnshop in Dallas, like Private Asset Loans.

#4-Fine Arts

Have some paintings that cost a fortune? Are you into collecting sculptures? Depending on who made them and their cost, you could use them as collateral for an asset based loan. The more expensive it is, the higher the chances of you securing a good amount on the loan.

#5-Old Firearms

Collectors who have been scouring around looking for pre-1898 firearms for years, and have a number of them stocked at home, can secure great asset based loans.

Once the pawnshop representatives assess the value of the firearm, they will surely make a good offer depending on factors like the age, condition and what collectors are willing to pay for it.

You may be surprised at the variety of assets that can be used as collaterals to secure a good deal. The tricky part is choosing a pawnshop in Dallas you can actually rely on.

Check out Private Asset Loans, one of the best Dallas pawnshops that accept a variety of items and offers other benefits like lowest interest rates and flexible repayment plans.