Car Title Loans in South Africa: Ins and Outs
Over the past decade, car title loans have soared in popularity worldwide. Right here in South Africa, an increasing number of people are choosing to pawn their vehicles, rather than approaching banks and other institutionalised lenders for funds.
Boats, bakkies, trucks and luxury cars are being used to raise capital.
What is a car title loan?
A car title loan is a type of secured loan that uses a fully paid up vehicle as collateral. It’s a commonly used term in the USA, and is the same as an asset-based loan against a car.
Are car title loans safe?
There are a few dodgy operators specialising in pawn and drive schemes. These schemes are expensive, high risk and even illegal in South Africa.
However, there are also reputable and accredited car loan providers with reliable track records. By reading user reviews and doing your homework online, you can ensure you’re dealing with a trusted asset-based lender.
Why Pawn My Car?
- Transparent fee structure
- Offices in four cities
- No early settlement penalties
- NCA compliant interest rates
- Registered with the FSB and NCR
- Quick loans application process
- In operation for several years
Where can I get a car title loan?
These days, the majority of South Africans find car title loan providers over the internet. At Pawn My Car, you can call a friendly consultant to set up an appointment at one of seven conveniently located Pawn My Car branches:
Pawn My Car Sandton
5, 5th Street, Wynberg
Tel: 011 440 0052
Pawn My Car Florida
Cnr Ontdekkers and Gordon Roads
Florida North, Johannesburg
Tel: 010 880 2416
Pawn My Car Cape Town
Office 201E, 2nd Floor,
Soho on Strand
128 Strand Street
Tel: 021 419 1113
Pawn My Car Brackenfell
Shop 4, Aroma Village Centre
Old Paarl Road, Cape Town
Tel: 021 000 1879
Pawn My Car Heathfield
Unit 2, Milward House
119 Main Road
Tel: 021 000 1877
Pawn My Car Port Elizabeth
6A Gecko Park
9 Buffelsfontein Road
Tel: 041 368 9590
Pawn My Car Durban
77 Sydney Road
Tel: 031 305 7202
What do I need to get a car title loan?
All that’s required to facilitate a car title loan at Pawn My Car is the original car registration papers, in the name of the person applying for a loan, an ID, and a recent utility bill or bank statement as proof of residence.
With Pawn My Car, you can use a car, bakkie, truck or boat that’s in your name to secure a loan quickly and easily, with no delays. For more information, contact us on 086 172 9648 or simply complete and submit our online application form.