Frequently Asked Questions

Is it legal

We are legaly registered with the NCR (National Credit Regulator) which quotes (act 34 of 2005)
"a pawn transaction means an agreement, irrespective of its form in terms of which- one party advances money or grants credit to another, and at the time of doing so, takes possession of goods as security for the money advanced or credit granted and, either –the estimated resale value of the goods exceeds the value of the money provided or the credit granted, or a charge, fee or interest, is imposed in respect of the agreement, or in respect of the amount loaned or the credit granted".

  • The party that advanced the money or granted the credit is entitled on expiry of a defined period to sell the goods and retain all the proceeds of the sale in settlement of the consumer’s obligations under the agreement.

We are also registered with the second hand dealers act 6 of 2009 (act 23 of 1955) legally registered to NCR and hereby abide by all their rules and regulations. NCR no: ncrcp2703

How do you qualify vehicles, motorbikes, boats and trailers?

  • No checks are done on the client himself as the vehicle is kept for collateral against the loan.
  • You will need to have a paid up vehicle with its original, most recent registration documents.
  • They will then evaluate the vehicle at a third of its trade usually going up to half of the vehicle trade.
  • All police clearance needs to be done on vehicle before bringing it in on any loan amounts.
  • No vehicle owing cash to banks or dealerships will be given a loan as original registration papers are most critical for our contracts to be legal.

Gold and diamonds

  • Gold is measured at R100 a gram 9ct.
  • On a pawn agreement you will need at least 5g to qualify as our loans only start from denominations of R500.
  • The diamonds are measured in carat, cut, colour and clarity and then evaluated and given an amount.

How do we pay you?

  • After an application is done on a vehicle and the loan is approved a cash payout takes place.
  • The cash would then be received by the client or an eft could be arranged.
  • Customers who feel the need for a deposit of the loan amount into their bank account could also be made possible.
  • A cash cheque could also be an option for some clients.

How do you pay us?

  • Upon the client receiving the loan a contract of 30 days is granted.
  • On the 30th day the client could pay the full amount which is the loan plus the total charge.
  • Or the client could just pay the total charge and another 30 days will be granted.
  • This cash has to be paid in at our office for the renewals as a new contract has to be given to the client.
  • No deposits or cheques to be made out.
  • EFT payments are only allowed upon collections.