When you get a pawn loan against a car it will usually be stored by the pawn shop, or licenced facility, until you have redeemed the loan
Pawn a car & still drive it
In New South Wales, just like in all other States and territories of Australia, a person borrowing money from a licensed Pawnbroker, must leave the asset being borrowed against -the asset being pawned- with the pawnbroker. Essentially, the loan is secured against the asset -a car- until the debt and due interest is repaid.
Indeed, this practice of keeping the pawned car in the pawnbroker’s possession is rooted in the practical principles of pawnbroking, designed to uphold security and accuracy in loan transactions.
The requirement for physical possession of the car serves several crucial purposes. Firstly, it ensures that the pawnbroker has direct control and oversight of the collateral, mitigating the risk of loss or damage during the loan period. Secondly, it enables thorough assessment of the car’s condition and value, essential for determining the loan amount accurately.
Additionally, maintaining possession of the vehicle allows the pawnbroker to comply with regulatory requirements and safeguard both the lender’s and borrower’s interests. Overall, this process ensures transparency and trust in the pawnbroking transaction, benefiting both parties involved while upholding the integrity of the pawnbroking industry.
This why pawnbrokers don’t need to do credit checks.
Cash Loans from $2,000 to $50,000 ✔️
❌ No Credit Checks
❌ No Up-Front Fees
❌ No Repayments 1st 3 Mths
Call Us Now for a free no obligation auto pawn quote.
Or use our Online Enquiry Form and we’ll call you.
Staying on the road while your car is with us
While pawning a car is no doubt the fastest and easiest way of getting a cash loan, the practical side of it can often be a bit of an inconvenience, having to leave your car with us.
Recognising this demand, as one of Sydney’s leading specialist car pawnbroking service’s, U-Pawn aims to streamline the process of obtaining a loan against your car, but helping you to keep mobile. This tailored approach ensures that accessing money quickly is both practical and efficient while minimising any inconveneince.
One notable convenience for our customers is the option to rent a car for the duration of the loan period, providing flexibility and mobility while their car is held as collateral. To help, we offer certain customers who rent a car, a ‘rental-rebate’ where we will take off an amount of the final payout. Please check out our rental-rebate scheme in the FAQ section below.
Indeed, pawning your car for a fast cash loan shouldn’t have to be a major inconvenience for you.
Basic Requirements for getting a pawn loan against a car:
- Must have legal title to vehicle
- No outstanding finance on vehicle
- Vehicle must not be leased
- Vehicle must be in good condition
Learn more about pawning a car.
Get in touch with us today
Find Us – Suite 6/3 Victoria Road, Parramatta, NSW, 2150.
If you’re in Sydney looking for a Pawn Shop near me get directions here here >>
Have Additional Questions? – Call Us Now! ☎️ 1300 205 558
– or fill-out our Online Enquiry Form and we’ll call you.
U-Pawn is a high-value collateral lender specialising in pawning Cars | Motorcycles | Boats and Trucks. From time to time we also pawn Heavy Machinery | Recreational Vehicles | Caravans |Trailers | Farm Equipment and even Aircraft.
FAQs
Frequently Asked Questions
How does U-Pawn’s rental rebate work?
This service offers a hassle-free solution, allowing you to address your immediate financial needs without giving up you mobility. With rental fees typically starting from as little as $35 per day for a small-medium sized car, our rebate scheme provides a seamless borrowing experience that prioritises convenience and accessibility for our customers.
Note: This rebate scheme is only avaialable to customers who pawn their car for $7,500 or more. Additionally, we will only recognise rental-cars rented from a reputable and licenced rental car company.*
Depending on the amount we pawn your car for will determine how much of a rebate we will offer. For example, if we pawn your car for $10,000 we will likely offer you a rebate of up to $7.50 a day. So, for example, if you rent a car for a month, at $35 a day (inl GST), your ultimate cost (after rebate) will be just $27.50 per day. It’s that simple.
+Conditions apply to this offer.
Find out how much you can borrow against your car, motorbike, truck or boat. Indeed, we pride ourselves on being able to provide affordable high-value loans quickly and easily for clients needing cash fast.
Learn how to pawning a car.
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