18 Oct Steps to Pawn your Car
Pawn your Car Anywhere in South Africa: The 10 Steps to follow
Pawning your car is a good method to secure cash fast and easily. Usually when you pawn your car no credit checks are done, no questions are asked and your loan is secured against the value of your car. However if you live in a remote part of South Africa you may not be able to get to the major city centres in order to pawn your car, so here are the steps to follow if you need to pawn your car and live outside the major cities.
Steps to Pawn your Car
1. Call or email one of the leading Pawn Brokers that offer national services such as Good Fellows Pawn Brokers in order to pawn your car.
2. Fill in the application form with the details of your car as well as the amount you need to borrow.
3. The consultant at the Pawn Broker will advise you where the nearest storage unit is to where you live. So even if you don’t live in Johannesburg, you can still pawn your car by storing it at a safe and secure storage unit close to your home and borrow the money that you need.
4. Take your car to the nearest storage unit to be valued. In some cases pawn brokers will even come to you to value your car.
5. Drop your car off at the storage unit.
6. Hand in the necessary documents to the pawn broker in order to pawn your car.
7. Complete the final paperwork to pawn your car.
8. Receive your cash loan instantly.
9. After a period of time, repay the cash loan plus interest back to the pawn broker.
10. Collect your car and drive home
What are some of the difficulties you may encounter when you pawn your car?
There are a number of pawn brokers in South Africa, however the good ones will always try to accommodate you and come up with a plan that suits you and them so that you can pawn your car effectively. For example if your car has not been paid off yet and the bank still owns a portion of it, you may be able to borrow money against the portion that is paid off. So if your car was bought for R250,000 and you have paid off R100,000, the pawnbroker will be able to loan you up to 60% of the R100,000 in some cases. It’s important to know how much you owe on your car when you are considering pawning your car for cash. Good Fellows Pawn Brokers for example offer cash loans on financed cars.
Another obstacle may be that you aren’t able to get your car to the pawn brokers offices for a valuation. In this case, the pawn broker may be willing to come to you to value your car before your pawn your car. Good Fellows Pawn Brokers for example, will come to you to value your car. Not only do they have offices to pawn your car in Johannesburg but they also have a number of facilities around South Africa where you can drop your car off including Pretoria, Vanderbijlpark, Durban and Port Elizabeth.
In order to pawn your car, you need to find the right Pawn Broker that understands your needs and is willing and able to help you get your car back.
Good Fellows Pawn Brokers are one of South Africa’s leading cash loan companies. With starting interest rates from a ridiculously low 0.7% per day and many years’ experience in helping you get your asset back, Good Fellows Pawn Brokers offers instant cash loans on all assets such as cars, bikes and vehicles. Speak to a friendly consultant at Good Fellows Pawn Brokers today to pawn your car.