How To Get a Same-Day Loan in Durban

How To Get a Same-Day Loan in Durban

same day loan

An unexpected bill or expense can make you short of money for the month. When this happens it’s worth knowing how to get a same-day loan in Durban.

There are many short-term and same-day loans available. Not all of them are good options.

The downside of traditional same-day loans

Short-term finance such as payday loans are notoriously high interest and often have hidden fees. Disreputable lenders may not be registered and you won’t be protected.

A short-term bank loan usually has a lengthy application process and requires a good credit rating. You may not be approved if you don’t earn enough or have bad credit.

Why you should opt for asset-based same-day loans

The beauty of an asset-based loan is that the lender uses a paid-off physical asset as collateral. Your credit rating and income are irrelevant. If you own an asset, such as a car, you can use it to get a short-term loan by pawning it to an asset-based lender such as Pawn My Car.

These loans are quick, usually paying out within 24 hours, and are low risk. They don’t affect your credit rating. If you can’t repay the loan, the asset will be sold to recoup the debt. You won’t be left with a loan you can’t repay.

Getting a same-day loan in Durban

It’s quick and simple to get a same-day loan in Durban with Pawn My Car. The application process is easy and transparent.

Step 1: Submit your application. You can do this online or by phoning our call centre on 0861 112 866.

Step 2: Gather your documents. You’ll need a copy of your ID, proof of residence and the vehicle’s original registration certificate.

Step 3: Go to your nearest Pawn My Car branch. Bring your documents and your vehicle for the final evaluation. Read and sign the loan agreement.

Step 4: Surrender your vehicle. Your vehicle will be stored in a secure and fully insured facility until your loan is repaid. Remember, your car must be fully paid off.

Step 5: Retrieve your vehicle. Once the loan is repaid, you collect your vehicle and related documents. Your ownership of the vehicle will not be affected as long as the loan is repaid in full.

What you need to know about pawning a car in Durban

When pawning a car, it helps if your car is in the best possible condition. The make, model and year will determine how much you can borrow. The loan amount is calculated on the assessed resale value of the car.

When you bring your vehicle to the Durban branch, we’ll give you a final evaluation. Being by the coast, it’s a good idea to check your car for rust. Rust and other signs of age can devalue your car and affect the loan amount.

Make sure you have the following to maximise the loan value:

  • an up-to-date and complete service record
  • tyres in good shape
  • a spare tyre and jack in good condition
  • a spare key
  • an up-to-date licence.

The benefits of same-day loans from Pawn My Car in Durban

Pawn My Car is a well-established loan provider that’s registered with the NCR and FSB. In addition to our Durban branch, we have branches in Sandton, Florida, Cape Town, Brackenfell and Port Elizabeth.

Other benefit of getting a loan from Pawn My Car include:

  • no credit checks
  • employment not required
  • NCR-compliant interest rates
  • flexible repayment terms
  • no early-settlement penalties
  • no hidden fees.

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)