Can I Pawn My Car Title Online?
It’s a common search query – can I pawn my car title online? The answer is yes. In South Africa, reputable asset-based lenders now offer online applications for securing loans against vehicles. So it’s possible to start the process of pawning a car title from the comfort of your home.
Pawning a car title is a fast and increasingly popular way to raise funds, in South Africa and worldwide.
Is it safe to pawn a car title online?
As always, it’s important to navigate online offers with care, avoiding disreputable or potentially unstable businesses.
Nonetheless, the internet is making all kinds of business transactions much faster, easier and more discreet than ever before. This includes accessing financial services, like securing a loan against your car.
A few key safety tips for securing a loan against a car online:
- stick to well-established, registered financial service providers with physical branch addresses (even if you start the process online, this is some guarantee against “fly-by-night” operations)
- if a website appears dodgy, trust your instincts and look elsewhere
- never sign a loan agreement before you know and understand all the terms – ask as many questions as you need to and don’t be rushed
- avoid “pawn and still drive it” schemes, which are notorious in South Africa.
It’s also worth noting that like any other type of loan, a loan against a car is a good idea only if you’re sure you’ll be able to repay the loan as outlined in the loan terms.
Generally, pawning a car title is a fast, easy but short-term financial solution. It’s ideal for covering a temporary need for funds.
What is a car title pawn?
A car title pawn uses the ownership papers of a paid-off car or other vehicle as collateral on a loan. The loan amount is based on the resale value of the car.
When you use your car title to pawn a car, the lender takes temporary custody of the car for the duration of the loan.
Once the loan is repaid, the car is returned to the owner.
Where can I pawn my car title online in South Africa?
Because of the massive growth of the car pawn industry, most lenders that offer car title pawn loans are in major cities, including those that offer an online option.
You can find Pawn My Car branches is most major cities in South Africa. We have offices in Cape Town, Durban, Gqeberha (Port Elizabeth) and Sandton.
Why consider pawning your car title
A car title pawn loan is secured by a paid-off vehicle unlike an unsecured bank loan, such as a personal loan. This means it has a few advantages compared to a traditional bank loan.
- Fast access to funds. Loans are paid out very quickly, usually within 24 hours or less.
- No need for a credit check. These loans don’t need to check or affect your credit score.
- Simple application process. The application process doesn’t require lots of paperwork and can be started online.
- No need to sell. Pawning your car title doesn’t affect your ownership of the car as long as the loan is repaid.
- Discreet short-term loans. There’s no need to disclose your income or submit your bank statements to get a loan.
What requirements apply when pawning a car title
To pawn your car title online, the vehicle needs to be fully paid off and the title must be in your name.
To start the loan application, simply send us some basic information about your car: the make, model, year and mileage. Based on this information, we’ll make a preliminary offer.
If you want to proceed, we’ll arrange a meeting where you’ll need to submit your car’s original registration documents, a copy of your ID and proof of address. We’ll then check the car to ensure everything is in order before finalising the agreement.
Pawn your car title online with Pawn My Car
You can pawn your car title online with Pawn My Car to secure a loan quickly and easily, with no delays or laborious paperwork. You can use a car, a bakkie, truck or boat that’s in your name.
For more details about how to pawn your car title online, contact us on 0861 112 866 or simply complete and submit our online application form.
