How to Pawn Your Car in Sandton
In South Africa’s tough economic climate, many people are struggling to make ends meet.
Whether it’s to pay your bills and utilities, or to cover unexpected business or medical expenses, pawning your car is an easy way to get cash fast. It’s also an option even if, along with millions of other South Africans, you currently have a poor credit rating.
Pawn My Car is a reputable short-term loan provider that’s fully compliant with the National Credit Act (NCA). With a centrally located branch in the Wynberg, Sandton area, it makes pawning a car in Sandton especially easy.
How it works
If you own a fully paid up vehicle, you can use it as collateral to get a short-term, asset-based loan.
This type of loan is secured against your car title so there’s no need for the red tape typically associated with traditional bank loans.
Once you pawn your car in Sandton, the vehicle will be stored at a secure facility. Once you’ve paid back the loan with the agreed interest, the car will be returned to you, in the same condition you left it.
The process is completely transparent and confidential, and won’t have any impact on your credit report. Pawn My Car won’t communicate any information to a credit bureau.
What you need to pawn a car in Sandton
To qualify for a loan against the value of a car, you must be the legal owner of the vehicle, and the car must be fully paid up. To secure a loan, you’ll need to provide the original papers for the car, your ID document and proof of residence.
If the vehicle title is in the name a company, you’ll also need to provide CIPRO documents, company resolutions and a copy of the proxy’s ID document.
You can maximise the loan value you’re offered by having service records for the vehicle on hand. Also ensure that the car tyres are in good condition, your car license is up to date and the car has a spare tyre, a jack and a spare key.
What to consider before pawning your car
It’s vital to ensure you choose a reputable loan provider who’s upfront about the costs and terms of the loan, and whose interest rates comply with the terms of the National Credit Regulator (NCR).
Contact Pawn My Car today
Simply contact us with details of your vehicle, and we’ll make a provisional loan offer on the spot. If you wish to proceed, bring your car in to our Sandton offices for assessment. We’ll complete the relevant paperwork quickly and efficiently, and transfer the funds you need into your account almost straight away.