How to Pawn Your Car in Durban

How to Pawn Your Car in Durban

Unexpected medical bills, car repairs, retrenchment or a range of other factors can all put pressure on your finances, making it necessary to secure extra funds.

Instead of doing something drastic like selling your car, you can use the vehicle to secure a short-term, asset-based loan from a reputable financial services provider, such as Pawn My Car.

How does it work?

The application process is simple and funds are usually available within 24 hours.

Your paid-off car or other vehicle will be assessed based on its make and model, age and condition. Once its market value is established, you’ll be offered a loan amount based on this assessment.

If you accept the loan terms, Pawn My Car will keep your car in a secure facility in Durban. Once you’ve paid back the loan and the agreed interest, the car is returned to you. Nobody else will drive your car, and – unlike “pawn and drive” options – Pawn My Car will not take ownership of your vehicle and then try to sell it back to you.

Things to consider when looking for an asset-based lender

Picking the right lender to use might seem like a bit of a headache but there are some things you should look for when you want to pawn your car in Durban.

Reputability

Find a lender that has a good reputation, that has been around for a decent amount of time and that has one or more physical branches you can visit in person. Never use a lender that claims you can pawn your car but still drive it – this type of scheme is popular but not in your best interests. Typically, the lender takes ownership of your vehicle as a condition of granting the loan, putting you at high risk of losing it.

Accreditation

Ensure that the lender is fully compliant with the National Credit Act (NCA).

Convenience

Find a lender that is conveniently located for you and, to make life simpler, offers online services. For example, it’s safe and easy to apply for a loan online, rather than having to visit an unfamiliar area in person.

Speed

People tend to need funds quickly when they are in a jam, so look for a lender that can promise a swift pay out.

Confidentiality

The lender should offer discreet loans and agree never to share your information unnecessarily.

Why use Pawn My Car to pawn your car in Durban

Pawn My Car is a reputable short-term loan provider that’s fully compliant with the terms of the National Credit Act (NCA). We have branches throughout the country, including a branch in Durban, and are a well-established financial service provider.

Our process is simple, quick and secure. There are no hidden costs and you can expect funds to be deposited directly into your bank account on the same day you apply for a loan. We don’t share any information with credit bureaus – so your credit score won’t be affected by the loan.

For more information about how to pawn your car in Durban, contact us on 086 172 9648 or simply complete and submit our online application form.

Complete an application now