How to Get a Same-Day Loan in Cape Town

How to Get a Same-Day Loan in Cape Town

same day loan in cape town

One of the quickest, easiest and least risky ways to get a same-day loan in Cape Town is to pawn your vehicle through Pawn My Car.

Borrowing money against a car is a viable solution for all South Africans, regardless of credit status. Here are other types of same-day loans available in Cape Town.

Same-day bank loans

South African banks offer same-day personal loans. You must be gainfully employed, have an active bank account in good standing and a clean credit record.

Loan amounts are typically low. The interest charged on the borrowed funds is dependent upon your financial track record and credit score.

If you can’t provide proof of income, you or your spouse has been declared insolvent, are in debt counselling or under administration or curatorship, the loan application is automatically rejected.

Pay-day loans on the day you apply

Pay-day loans are instant cash loans that range in value from around R500 to R8,000. They’re repayable in one instalment on the following pay-day.

As with same-day bank loans, you must satisfy various credit requirements in order to qualify for a pay-day loan. The interest rates are significantly higher.

If you can’t pay back what you’ve borrowed on the due date, the lender can take legal steps to recover the money and report your transgression to the credit bureau.

South Africans who are blacklisted or under debt review are not eligible for this type of same-day loan in Cape Town.

Pawning a vehicle to get a same-day loan in Cape Town

Using a fully paid-up car to secure a same-day loan in Cape Town cuts out the arduous qualifying criteria typical of unsecured loans. Anyone who owns a car, truck, bakkie, van or motorbike can raise funds against it.

At Pawn My Car, we process loan amounts commensurate with a percentage of the appraised market value of your car. The more your vehicle is worth, the greater the amount of money you can borrow.

How do you get a same-day loan in Cape Town against your car?

You call Pawn My Car on 086 111 2866 and provide us with the vehicle’s make, model and age, together with the required loan amount.

Alternatively, you submit the information online via our online loan application form and we’ll call you back.

Based on that information, we make an initial offer of a loan. We ask you to bring the car into one of our Cape Town branches for a vehicle appraisal. Our branches are Pawn My Car Brackenfell, Pawn My Car Heathfield or Pawn My Car Cape Town CBD.

If all is in order, we draw up a formal loan agreement. The car is handed to us as collateral and it’s safely stored for the duration of the loan term.

The funds are then transferred into your bank account on the same day.

These are the benefits of a vehicle-backed, same-day loan in Cape Town:

  • no credit checks
  • employment not required
  • interest rates are NCR compliant
  • flexible repayment terms
  • no early-settlement penalties
  • fees clearly outlined in loan agreement
  • borrowing amount based on assessed resale value of car
  • no legal ramifications if you default as the car is sold to recoup losses.

Call Pawn My Car now and secure a same-day loan in Cape Town, using your car as collateral.

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 or laborious paperwork. For more information, contact us on 0861 112 866 or simply complete and submit our online application form.

Complete an application now

APR & Loan period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.


All accounts may be renewed if they are up to date.


All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.


Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

Repayment Period
Monthly Repayment
Total Cost of Loan
Monthly Fee
(Interest + Service Charge)
Loan Amount


Repayment Period

3 months

Monthly Repayment


Total Cost of Loan


Initiation Fee


Monthly Fee (Interest + Service Charge)