Pawn and Drive

Should you pawn your car and still drive it?

Do you want to pawn your car and still drive it? While this sounds like a great deal, in practice “pawn and drive” schemes tend to be expensive and complicated – and they put vehicle owners at unnecessarily high risk of losing their cars.

When you pawn your vehicle with Pawn My Car:

  • you’ll bring your car in and leave with your money; it’s immediate – no complicated application or approval processes
  • you’ll benefit from the cheapest rates and the security of dealing with an NCA compliant company
  • you won’t lose ownership of your vehicle – we hold it only as security
  • you can usually obtain a higher loan amount than by selling your car with an option of buying it back later.

In comparison, Pawn My Car makes pawning your car as quick, affordable and convenient as possible. You won’t be able to drive your vehicle for the loan duration, although it will stay in your name. It will be kept in a secure facility with strict access control, and nobody else will drive it. Once the loan is repaid with agreed interest, the car will be returned to you

Before you ‘pawn your car and still drive it’, consider the following:

  • you’ll go through a complicated and time-consuming approval process; this will require the submission of an application that includes payslips and bank statements
  • if your application is approved, you’ll typically be forced to hand over ownership of your vehicle – you might still be driving your car, but you won’t own it
  • if you want your car back, you’ll have to buy it back from the lender at a future date
  • pawning and driving a car is much more expensive than pawning your car with a straightforward asset-based loan provider like Pawn My Car.

Find out more about why we strongly advise against pawn and drive schemes.

Once you’ve submitted:
  1. Our representative will call you
  2. Bring your vehicle in for a value confirmation
  3. Ensure the documentation is correct
  4. Read, complete and if happy, sign the agreement
  5. Funds are transferred into your bank account.

Contact Us

“InkonZo eZothile enobuhlobo. Great service. Friendly staff. I will definitely use you guys again when I need to - Amos K”
“Running a construction business creates cashflow challenges. PMC was quick and simple. - Mark”
“Thank you Pawn My Car. You saved my month - Eric”
“They helped me fund my business - Karen”
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Pawn My Car is a division of Lamna Financial Services, which is registered with
both the NCR (National Credit Regulator) and FSB (Financial Services Board).

Call us for more information on 0861 112 866

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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.


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)