Gems & Jewelry Inc. offers a fast and easy process for securing a collateral loan
If you’re facing a temporary shortage of cash, a collateral loan can be a very useful tool for extracting yourself from this situation. A collateral loan offers tremendous flexibility and can give you the cash you need without the finality of a sale or the hassles of an unsecured loan. Getting a collateral loan at Gems & Jewelry Inc. is quite easy. All you have to do is complete the following steps.
1. Choose your collateral. A collateralloan is secured by the value of a physical item such as a car, boat, motorcycle, piece of jewelry, etc. The more valuable your item is, the more cash you may be able to receive. When choosing an item to use as collateral, try to select an item whose worth is as close to the desired amount of cash as possible. This will help you get the cash you need without being tempted to overextend yourself by taking out a bigger loan.
2. Come to Gems & Jewelry Inc.. It’s important to choose a quality loan provider like Gems & Jewelry Inc. for several reasons. First of all, you want to know that you’re dealing with a company that can provide the large cash loan you may need. Secondly, you want to know that you will receive a fair valuation of your item. Finally, you want to know that your item will be in excellent condition when you return for it. Gems & Jewelry Inc. can satisfy your desires on all three counts. We specialize in big-ticket items, we take pride in fair dealings, and we have a secure and insured storage facility.
3. Show ID. While we do not ask any questions about your credit score, income, or employment, we do require all collateral loan applicants to show proper ID. In some cases, proof of ownership of the item being used as collateral may also be desired.
4. Get your item appraised. In order to determine the value of your item and therefore the amount of cash you may be able to receive through your collateral loan, we will have one of our professional appraisers take a look. Any documentation you can provide as to the origin and value of the item, such as an insurance valuation or a jewelry certification card, will be helpful in ensuring you get the best price.
5. Agree on loan terms. Next, we will go over the terms of the loan agreement with you, including the amount of the loan, the interest rate, payment amounts, and any penalties that may apply for deviating from your repayment plan.
6. Walk away with cash. If you agree to the terms of the loan, simply sign and walk away with cash or a check that you can use immediately.
Recovering Your Collateral
As soon as you repay your loan, you will be able to recover your collateral. There are no penalties for early repayment, so it is typically in your interest to repay the loan as quickly as possible. If you decide you do not want to repay the loan, we will simply take possession of your collateral and sell it to recoup our expenses.
