Loans Against BMWs

bmw

Pawn My Car offers competitive loans against BMWs. This includes loans against the popular BMW 3 Series and other BMW models, whether classic or new.

How and where to get loans against BMWs

Unlocking the value of a BMW requires nothing more than a quick phone call or the submission of an online loan application.

Once the vehicle’s fair market value has been assessed, based on the details provided by the applicant, an indicative offer of a short-term loan is immediately given over the phone.

If the initial offer is accepted, the BMW is physically appraised by an expert in the trade. The loan amount is finalised and the paperwork signed.

Once the BMW is safely stored in a secure lock-up facility, the funds are transferred into the registered owner’s bank account. The car is available for collection once the loan, and accrued interest, is paid back in full.

Where to find Pawn My Car branches in South Africa

Pawn My Car is a registered provider of loans against cars in South Africa. We accept all high-value cars as collateral, including new and classic BMWs.

Our branches are centrally located to enable convenient access to our vehicle appraisal services and support fast loan-approval turnaround times.

Our branches: contact details

Pawn My Car is a registered finance provider with branches in key South African cities. Our consultants are available during office hours to set up vehicle appraisal appointments and process loans against cars quickly and efficiently.

Where to get a loan against a BMW in Cape Town

Pawn My Car Brackenfell: 021 000 1879

Pawn My Car Cape Town: 021 419 1113

Where to get a loan against a BMW in Johannesburg

Pawn My Car Sandton: 011 440 0052

Where to get a loan against a BMW in Durban

Pawn My Car Durban: 031 305 7202

Where to get a loan against a BMW in Port Elizabeth

Pawn My Car Port Elizabeth: 041 368 9590

What documents you need

The only documents required to secure a BMW-backed short-term loan are your ID and proof of residence, and the vehicle’s original registration certificate. Please note that we can accept only fully owned BMW vehicles as collateral for loans.

When pawning a BMW makes sense

It makes sense to consider pawning a BMW if you need short-term finance and know you’ll be able to repay a loan in coming months.

Pawning a BMW can give you immediate access to funds, without forcing you to sell.

Once the loan and agreed interest are repaid, you’ll still have a high-value asset. You’ll have it to drive, to sell at a later time or even to secure a further loan, if and when you choose.

How loans against BMWs work with Pawn My Car

Applying for a loan against a BMW with Pawn My Car follows the standard procedure.

You provide the details of the vehicle, online or over the phone. We make an initial offer of a loan. This is confirmed once the vehicle has been physically examined at a Pawn My Car branch.

The required documents are handed over, the agreement is signed and the BMW is safely stored for the duration of the loan. The funds are electronically transferred into your bank account.

Once the money has been paid back, as per the agreed terms, the BMW is collected. If you need cash quickly, it can be used again as backing for a loan.

Pawn My Car offers competitive loans against BMW cars, as well as classic cars, and our process is transparent, fast and completely discreet.

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.

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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.

Renewals

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

Collection

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

Non-payment

Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

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

R10,000

Repayment Period

3 months

Monthly Repayment

R560

Total Cost of Loan

R12,370

Initiation Fee

R1,000

Monthly Fee (Interest + Service Charge)

R650

APR

60%

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