Pawn My Car is the leading provider of auto collateral loans in Port Elizabeth/Gqeberha.

We offer funding that is fast, transparent and easy to access.

Our credentials

When you get an auto collateral loan from Pawn My Car in Port Elizabeth, you are assured that it’s safe, fair and above board. At Pawn My Car, we:

• have physical branches countrywide
• are a division of a registered financial services provider
• are fully compliant with the National Credit Act
• offer a prompt and professional service
• give loans up to R10 million (based on asset value).

To avoid common pitfalls associated with auto collateral loans, ensure any prospective loan provider can satisfy these requirements.

How our auto collateral loans differ from ‘pawn and drive it’ schemes

Some loan providers offer pawn and drive it schemes. They may seem like an ideal solution because you get a loan and can still drive your car.

The reality is that pawn and drive it schemes are sophisticated scams that pose numerous risks. There are many warnings against them, including from independent sources like the Daily Maverick.

It’s imperative to understand that they are not pawn transactions. The loan provider actually “purchases” your vehicle, then charges a monthly rental for the use of the car. The loan provider becomes the owner of the car.

The loan must be repaid in one lump sum. If something goes wrong – for example, you default on a single monthly “rental” payment – the vehicle will be taken from you, sometimes forcibly.

There is no legal recourse because you have entered a sales agreement, not a loan agreement. Pawn and drive it schemes are not subject to the National Credit Act and the Regulator can’t intervene on your behalf.

When you pawn a car with us, the vehicle is used to secure the loan. It is retained by Pawn My Car and placed in safe keeping until the loan and interest are repaid in full.

The vehicle is then returned to you, along with the registration certificate.

Advantages of auto collateral loans in South Africa

An auto collateral loan in South Africa is a fast and discreet way to get cash quickly. There are many advantages of auto collateral loans compared to other types of loans, including:

• transparent and safe
• no credit checks
• no information sharing with credit bureaus or third parties
• competitive rates
• flexible repayment terms
• registered with the NCR and FSCA
• branches in all major South African cities
• accredited lender.

What vehicles can you get a loan against?

You can use almost any vehicle – a car, motorbike or bakkie – that you fully own and is registered in your name to secure a loan.

There’s no cut-off in terms of vehicle age or mileage. However, the vehicle must be of sufficient value to qualify for a loan.

A clean, polished and well-maintained vehicle with a complete service record, good condition tyres, spare key and all the road safety and repair accessories will get a higher appraisal value.

The loan amount, based on the vehicle’s appraised market value, will reflect that.

Getting an auto collateral loan in Port Elizabeth: next steps

To get auto collateral loans in Port Elizabeth, visit our physical branch in Gqeberha (Port Elizabeth).

For more information about how to get auto collateral loans in Port Elizabeth, call us on 0861 112 866 or WhatsApp 064 976 7106. Alternatively, simply use our online form to start your application now.

Complete an application now