When you’re in a cash crunch, leveraging the value of your car is one of the easiest and quickest ways to raise funds.

Pawn My Car offers short-term loans against fully paid-up vehicles. The entire process of pawning a car in Sandton can be concluded within 24 hours.

How pawning a car in Sandton works

Pawning a car in Sandton is similar to applying for a secured loan. In this type of transaction, an asset, which is the car, is used as collateral to cover the short-term financing.

As the borrowed funds are backed by the vehicle, no supporting documents or credit information are required to process the loan application.

What is required is the handover of the car. While the vehicle is in our safekeeping, it’s parked in a secure lock-up facility for the duration of the loan term.

Once the borrowed funds, plus interest, are repaid as per the agreement, the vehicle is available for collection.

Unlike pawn-and-drive schemes, which allow you to drive your car during the loan term, we don’t expect the ownership of the vehicle to be signed over.

The only time the ownership would change is if there’s a loan default.

Pawn-and-drive schemes may seem like the best option, but there are many hidden pitfalls, including charging you a monthly rental fee to drive your own car.

How much can you borrow against a car?

When pawning a car in Sandton, the size of the loan is determined by the appraised resale value of the vehicle.

An appraisal expert physically examines the car at the Sandon branch of Pawn My Car. The expert takes the car’s condition, mileage, make and model into account before working out a fair value.

Pawn My Car loans are based on a percentage of that valuation. Loans range from thousands of rands to six figures or more.

Qualifying criteria for pawning a car in Sandton

Anybody who owns a debt-free vehicle is pre-approved for funding. The only proviso is the car must be in good condition and in perfect running order.

A signed loan agreement, a copy of your ID, proof of residence and the vehicle’s original registrations papers are all that’s required to facilitate the process.

Why pawning a car in Sandton is a low-risk financing option

Personal bank loans and other unsecured loan types carry high risk. Finance providers have no option but to hand loan defaulters over to debt collectors or the courts.

Income and assets are all at risk. The individual’s credit score and financial track record take a beating.

With a vehicle-backed loan, the only asset at risk is the car.

If you can’t repay the funds within the agreed term and have exhausted all the options to extend the loan, the car is sold to cover the outstanding debt.

Steps for securing a pawn-a-car loan in Sandton

If you’re interested in pawning a car in Sandton, you must follow these steps.

1. Submit the details of the car online, via WhatsApp or over the phone. We’ll make an indicative offer of a loan immediately.
2. Bring the car in to the Pawn My Car branch for a full vehicle appraisal, together with the required documents.
3. The loan amount is confirmed and a standard loan agreement is drawn up and signed.
4. The car is handed over for safe storage. The funds are electronically transferred into your bank account within 24 hours.

Where to pawn a car in Sandton with Pawn My Car

The Sandton branch of Pawn My Car is conveniently located off the M40 highway in Wynberg. We operate from 8:30 a.m. to 5 p.m., Monday to Friday. Vehicle assessments are by appointment only.

All vehicles are accepted, from passenger cars and motor bikes to utility vehicles, bakkies and trucks.

Call us now on 011 440 0052. Our offices are in the Eezispace Building at number 5 5th Street, Wynberg.

Pawn My Car is a registered financial services provider, compliant with the National Credit Act (NCA).

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