Not only do we pawn diamond rings or loan cash against valuable watches, we also give cash for cars. So that means that you are able to pawn a car and get the cash instantly via eft or cash in your hand. After paying off the loan you get your car back in the same condition as the day you received cash for your car. Understanding that a car is one of the most valuable items in people’s lives, we have safe and secure storage facilities for all pawn cars.
If you need to pawn your car for cash, we offer the best rates in the industry and would like to offer you as much cash as possible on the vehicle since we only generate a profit on the interest on the loan, unlike other pawnbrokers who offer you a small loan and then sell the car at an exorbitant price once you default. We are really keen on building a long term, sustainable relationships with our clientele. This is how our company has grown from strength to strength over the years.
We also buy cars, so if you are looking to sell your car we will pay you in cash immidiately.
HOW DOES A PAWNSHOP WORK?
The basic business of a pawnshop is, of course, a financial service. If a man walks in and hands over, say, a watch, the pawnshop will lend him money based on a percentage of the items value. The customer has a set period of time to pay that back (usually 30 days). If he pays it back in time and pays the interest, he gets the item back. If he does not, the pawnshop sells the item to recoup the initial capital amount loaned against the item.
You need R400 to take your sweetie out to dinner tonight for her birthday and you’re broke. Your bank account has ‘insufficient funds’, the credit card was maxed out last year and mom and dad hang up when you call.
What do you do?
Remember that R4000 Omega watch granny gave as a graduation present? The watch that is sitting in a drawer, because who wears watches anymore?
Bingo! You are the perfect candidate to join the pawn revolution, borrowing for those without credit and who want a kind of on the fly liquidity that is gaining popularity and becoming the norm.
Even borrowers who can get a conventional loan may still prefer the pawn route because it is relatively streamlined and private, with no loan committees or reporting to credit agencies. Indeed, all that most pawnbrokers require from applicants is identification and, of course, an item to be used as collateral. (Once the loan is paid off the borrower can reclaim the item).
Loan Merchant Bank promises to work with you on your repayment plan, 85% of our clients reclaim their valuables. So we like to get to know our clients and in the process help to solve their short term financial needs. We beat the competition. You will get 10% more from us on any pawn loan than any other licensed or accredited pawnbroker*
*Only applies to pawn loans and must be accompanied by written or digital proof.