February 14, 2025

What Exactly Is A Car Pledge? Let’s Get To Know It Better

When you hear the word pawn, you must think of all the pawn shops that exist all over the country, right? Let’s just say that everything has value. There is a price that we can take to pawn all, not even a car. However, when looking at the principle of car pledges, it is quite different from the general pledge. So many people still do not understand much in this matter; what is a car pledge? This article will tell everyone to understand each other better than before.

A car pledge (รับจำนำรถยนต์ which is the term in Thai) is a type of transaction in which the car is a guaranteed asset so that the owner can use the sum of money for various purposes as they want. By this transaction will consist of 2 parties, namely the pledgee and the pledge. There are many types of cars, depending on the pledge’s rules and regulations for the pledge of the car, for example, parking, non-parking, red-labeled cars, second-hand cars, traffic jams, etc. However, it depends on the pawn as well as what kind of pledge you want.

When the money has been received, there will be a contract to pay in installments for how many installments and how many baht per installment. Such installments have already included interest. If you look at the point of view of the transaction, as the meaning is said, it is the same as borrowing money, just that we have collateral for a car that depends on what kind of pledge to choose. Another thing is that the difference in each type of guarantee also affects the pawns choosing different methods. Some types of pledge like Motorcycle pledge (จำนำมอไซค์ which is the term in Thai) may offer cheaper interest, higher credit lines, longer installments, etc. This must depend on the discussion between the two parties as well. Let’s just say that anyone who is wondering or has a question mark in their mind about the car pledge would probably get the word.