Pawn
30-DAYS APPLIANCE LOAN
Need cash?
Loan from R500 to R20 000 against your appliances and get up to 30 days to pay.
Here’s a step-by-step explanation of how this process works:
1. Valuation
- Bring the Appliance: You bring the appliance to our pick-up and drop-off warehouse in Pretoria Roseville as collateral.
- Assessment: Our staff will evaluate the appliance to determine its current market value based on factors like condition, age, brand and model.
2. Loan Offer
- Loan Amount: Based on the valuation, we will offer a loan amount, which is a percentage of the appliance's assessed value. This amount is lower than the full resale value of the appliance to mitigate our risk.
3. Agreement
- Terms and Conditions: If you accept the loan offer, you’ll be required to sign an agreement outlining the loan amount, interest rate, repayment terms, and the period within which you must repay the loan to reclaim your appliance.
- Interest and Fees: The agreement will also specify any interest and fees associated with the loan.
4. Receiving the Loan
- Disbursement: After signing the agreement, we will provide you with the loan amount in cash or another agreed-upon payment method.
5. Repayment
- Repay the Loan: You must repay the loan amount plus interest and fees within the agreed-upon time frame, which is 30 days.
- Reclaiming the Appliance: Upon repayment, you can reclaim your appliance from our pick-up and drop-off warehouse.
6. Default
- Non-Repayment: If you fail to repay the loan within the specified period, we will keep the appliance and sell it to recover the loan amount.
- No Further Obligation: You are not obligated to pay anything beyond the value of the appliance if it is sold; your credit score is typically not affected by defaulting on a pawn loan.