A pawn loan is used as a short-term funding option by the people who need quick money or is unable to acquire conventional finance from a bank or other financial organisation. A vehicle pawn loan is also a short-term cash loan that you get when you keep your vehicle as collateral with us. When you repay the loan in full with interest, we shall hand your vehicle and its full legal ownership over to you. Thus, a pawn loan is a fast way to borrow quick cash loan that too without any hassles of credit or background checks. In simple terms, a pawn loan is not based on your salary or credit rating rather they are based on the value of your collateral.
We lend against most types of automobiles and machinery, all makes, and models that include car, motorcycle, boat, truck, van, Ute, Jet Ski, caravan, semitrailer, ride on mower, tractor or bobcat etc. As long as your vehicle is in good working condition, roadworthy and fully paid for, we can use it as collateral and provide you with cash loan for short-term.
You can give us a call on 02 9630 6613 or visit us today at 10 North Rocks Rd, North Parramatta, NSW, 2151 Australia (No appointments needed). Alternatively, you can apply online by clicking ‘Enquire Now’ button from the ‘Contact Us’ web page.
The amount you can borrow is based on the value of your vehicle, which is determined by us. You can borrow a cash loan commencing from $500 up to $80,000. However, we recommend you to visit us along with your asset so that we can evaluate your asset’s value as well as discuss with you about your requirement and provide you with an appropriate loan.
Our interest rates are determined by the amount you borrow and the value of the security you supply. After we have spoken with you and assessed your application, we will let you know the accurate interest that you will need to pay. Also, prior to borrowing money, you will need to complete our ‘Pawn Agreement’, which clearly mentions the exact terms of your loan and interest that will be applicable.
No! You can use the loan money for whatever purpose you want.
Yes, you are eligible for a pawn loan regardless of your financial state like bad debt, bankruptcy, unemployment etc. We do not perform any background checks or credit checks (e.g. pay slips, bank statements etc.) to approve pawn loans.
Yes! We facilitate pawn loans against interstate vehicles.
Yes! We facilitate pawn loans against unregistered vehicles.
No! We never check credit ratings. Your credit file will remain entirely untouched, so other credit provider or lender won’t be able to tell that you have borrowed funds from us.
You will need to fulfil the following conditions in order to qualify for a vehicle pawn loan:
- You must have attained at least 18 years of age
- You must produce your photo identification proof (current driver's licence)
- You must produce your vehicle’s ownership papers (current vehicle registration certificate in your name)
- A working set of keys of your vehicle
- Your vehicle should be roadworthy and in good running condition, free from any damage or defects.
- You should fully own your vehicle, which means it should be clear from any debt or financial obligation.
Yes! We prefer there isn’t any finance owing to the bank or financial institution. However, if there is a minimal amount still owing, please do contact us and we will look into it and try to provide you with a solution.
No, that is not a requirement. Whether you’re employed or unemployed is neither a condition for you to acquire a pawn loan.
This will not be a problem in most of the cases. For instance, if the ownership papers are in your name and in your spouse’s name then this won’t be a problem. However, if the two names are not within the family or relation then we’ll have to examine it individually to ascertain if it can qualify for a pawn loan.
The interest will depend on the asset’s value. However, interest is set at the time of getting into the contract. Normally, interest is set on a monthly basis and do not change. Besides, there are no hidden fees of any kind.
Normally, a loan term differs as per borrower’s needs. Generally, a loan term is allowed up to three months duration. Nonetheless, if you want, you can extend the duration of loan’s term beyond three months by paying off any outstanding interest along with paying the interest for the extended month in advance.
Yes, your tax on the loan is deductible.
Once we have your vehicle, your vehicle ownership papers, and identification proof, we normally process and approve your cash loan within 30 minutes on the same day. It’s that fast and easy to get a pawn loan.
You can select either pay as you go plan or option to repay at the time of loan’s expiry – choose the repayment method that is most convenient to you.
No! Within the redemption period, you can repay your loan in full at any time without attracting a pre-payment penalty. Actually, we suggest customers repay their vehicle pawn loans as soon as they are in a position to do so.
The redemption period on all vehicle pawn loans is generally up to 3 months. However, if you’re not in a position to repay your loan before the due date then you can extend the redemption period for another month by just paying off any outstanding monthly interest along with paying off the interest for the extended month in advance. In case, you’re not able to repay your loan and interest, we’ll make every effort to work with you and arrive at a suitable arrangement. Nevertheless, if we’re unable to reach to such an arrangement then we’ll have to sell your pawned vehicle to receive back the loan amount and interest along with booking a small profit so that we can continue to remain in the business.