In common usage, pawn signifies a pledge of goods, as distinguished from a pledge of intangible personal property, such as a contract right. In a more limited sense, it denotes a deposit of personal property with a pawnbroker as security for a loan. A pawned article is retained until the loan is repaid within a certain time. If it is not repaid on time, the pawnbroker may sell the item.
Q: Why do people use pawn to resolve their financial difficulties?
A: Contractors, Business owners and self employed people are our most common customers. They get a contract or deal of a lifetime, but don’t have the cash flow to start the process. They come to us, borrow money against something they already own, and once the contract/deal is done, and they receive their money from their suppliers, they pay us and retrieve the money. People that need money to pay for a funeral, operation, doctors, or any other issue that comes up.
Q: How would this agreement help my financial situation?
A: In real honesty, it could help you in many ways with short term finance issues, depending on the reason for doing the agreement. You don’t have to go to the different banks to do loan applications; you don’t have to feel the stress to be rejected more than once from different financial institutes or sit on a waiting list to see the bank manager. You simply call us, we set up an appointment and we do the deal.
Q: Why do you need money?
A: We ask no questions! Why you want to loan the money is a private matter, and we respect your privacy
Q: What is a Pawn Agreement?
A: A pawn loan/agreement is a way to get immediate money by using items you already own. Unlike traditional bank loans, there are no credit checks or financial disclosures. Upon accepting your final loan offer, we complete the documentation for you, you sign the documentation and we directly deposit money into your bank account.
Q: How does a Pawn agreement work?
A: You simply bring us your asset you would like to pawn, we do a valuation of the item, we agree on a loan amount and the amount of interest you would be paying on that amount. We then take your asset to a secure location and keep it as collateral until you are able to pay back the full Capital and interest amount. We strictly work with the NCR and SAP and follow all the rules. You will also pay the lowest interest rates possible.
Q: How long do I have to pay back the money I borrowed?
A: All our agreements are a 30 day Agreement. Should you not be able to pay back the full amount within 30 days.
Q: What if I can’t pay back the full amount after 30 days?
A: You simply pay the interest amount, and we renew your agreement for another 30 days. And so it carries on until you’re able to pay back the full amount. Should Payment not be received within 48 Hours after Expiry date, your asset will be sold. No extension on Interest may be given under any circumstances.
Q: Can I pay a bigger amount than the interest to make my interest rate lower the next month?
A: Sure you can. We adjust your interest according to the capital amount.
Q: What items do we pawn?
A: We pawn all Luxury and Valuable items such as Vehicles, Boats, Jet Ski’s, Luxury watches, Laptop’s, I pad’s, Machinery, Trucks, Trailers, etc
Q: I would like to pawn a vehicle, what do I do?
A: To start the process, simply call our offices, Speak to one of our consultants, and we would arrange for a appointment the same day. We would need a copy of your RC1 form and a copy of your ID to verify the vehicle with Trans Union and to get the retail value of your Vehicle before the appointment.
Q: What if the vehicle is not registered on my name?
A: Should the vehicle be in someone else’s name, we would still be able to do the pawn agreement for you, if we have all the relevant documents. Documents such as:
1. Original RC1 form
2. Change of Ownership signed by the original owner.
3. The copy of ID for the registered owner/Title holder.
4. A affidavit that gives you the Authorisation to pawn the vehicle (Supplied by our offices)
5. The owner/Title holder would have to complete our Pawn agreement to ensure He / She understands how it works and to get all their relevant information. (Supplied by our offices)
6. A Copy of your ID
7. Proof of Address
8. You would have to complete the pawn Agreement. (Also supplied by our offices)
Q: Can I still pawn the vehicle / Asset if not paid in full? (Financed by a financial Institution)
A: Unfortunately we are not allowed to pawn a item if it’s still financed.
Q: What documents do I need to do a pawn agreement?
1. Original RC1 form (In case of a vehicle, Trailer, boat, Jet Ski etc)
2. Copy of your ID/ Passport/ Drivers License / Registration Certificate. (copies can be made our at our offices)
3. Proof of physical address (Not older than 3 months)
4. Change of ownership (Supplied by our offices)
5. If the vehicle is still on the banks name, a letter from the bank that states the vehicle has been paid in full, RC1 form, Change of ownership from the bank with a copy of the Bank’s Proxy.
Q: How long does it take to get the money?
A: We believe in fast productive service to our clients. Making sure our clients get the money within 2 hours from appointment! If you have all your documentation ready and with you, Less than an Hour!
Q: How much do can I borrow?
A: Depending of the value of your asset, the condition of your asset. We provide loans of up to 25% of retail value.
Q: Where is my vehicle being stored?
A: Your asset will be stored in the International Bank Vaults, or in case
Q: Would anyone drive my car?
A: No, your vehicle will be taken to the storage, we then take note of the millage, and do a assessment report which you get a copy of. The day when you collect your vehicle we look at the valuation report to make sure that there are no discrepancies.
Q: What if something happens to my asset?
A: On the initial pawn agreement it states clearly in annexure 6 “The “pledger” indemnifies the “Pledgee” from any claim for loss or damage to the goods that may arise as a result of fire, theft, or acts of God, disaster or any event not controllable by the “Pledgee”. However we can assure you that we have the right security measures in place to avoid this from happening.
Q: How much Interest do we Charge? Which other charges do I need to be aware of?
A: A Pawn Agreement consists of 4 different fees:
1. Initiation Fee – Can be charged at anything between 5% and 15% of the Capital amount.
2. Interest is charged at 5% from the deferred amount.
3. Service Fee is a once of fee, Charged at R50.00
4. Storage/Transport fee’s depending on the size of your item.
1. We treat our Customers with professionalism.
2. We keep all our meetings as confidential as possible.
3. We are one of the top 3 Pawn Shops when it comes to lowest Interest Charges.
4. We are members of the NCR, TPR Second Hand Board and work directly with the SAPS.
5. Your items are stored in a secure Storage facility.
6. We guarantee 2hours MAX to complete the Deal.
7. We do specialized Agreements for special customers.
8. We do no Credit Checks on our customers. No good credit score is required to do a pawn Agreement.
9. We will give you the best price possible for your item.
10. We try to accommodate our customers to their satisfaction
Buy and Sell Watches
Q: What Watches do we buy?
A: Any watch worthy to resell. Watch Brands such as Rolex, Breitling, Tag Heuers, Omega’s, Michel Herbelin, Longines, Tissot, Rado, Citizen, Frederique Constants, Mont Blanc, Seiko, Chopard, Ebel, Raymond Weil, Maurice Lacroix, Versace, Cartiers. You name the brand, and we will put a price to it!
Q: How is the Value of the watches determined?
1. The Make and Model of the watch
2. Is the Watch Authentic
3. Is the watch a ladies, mens or Unisex Watch. Mens watches normally have a higher second hand value than ladies watches.
4. Do you have a box and papers for the watch?
5. What is the current retail price of the watch
6. Where was the watch purchased, Do you have proof of purchase?
7. Is the Watch gold, silver etc
8. Does the watch have diamonds, or any other special features?
9. Is the watch battery operated or mechanical
10. Overall condition of the watch. Scratches / broken straps would bring down the value of the watch. Sometimes repairs can be more expensive to repair the watch than what its worth.
Pawning valuables has never been easier!