In life, sometimes unexpected situations arise out of nowhere, and you find yourself in an urgent need of cash flow to meet your needs at hand.
For instance:
- You may have to pay your medical bills not covered by your medical insurance.
- Pay a car repair bill not covered under your auto-general insurance, or
- For any other emergency where you may require money urgently.
What Are the Cash Loan Options Available?
If you need a small amount, then a personal loan from a bank or other financial institution might not be the most workable option. And if you have poor credit standing, then banks won’t issue a credit card to you.
A Pawnbroker Can Approve a Quick Cash Loan in Minutes!
You heard that right! Pawnbrokers sanction a quick cash loan within minutes on the same day without tedious paperwork. Besides, pawnbrokers won’t check your credit history or your current credit rating.
How Does a Pawnbroker Provide a Cash Loan?
Pawnbrokers can provide you with a pawn cash loan, and to process your loan, they will need the following:
- Your collateral (i.e. security deposit) of value.
- Your valid photo identification (govt. approved).
- You should have attained 18+ years of age.
How Does It Work?
At Mega Cash, you can walk in with your collateral (item of value) – it could be anything including:
- Gold jewellery,
- Electronic items (computer, laptop, smartphone etc.),
- Home appliances (television, fridge etc.),
- Musical instruments (violin, guitar, piano etc.),
- Gardening tools,
- Sporting gears,
- Gaming and toys,
- Collectables and more.
Our trained and experienced staff will value your items and offer you an instant cash loan. If you’re happy with the offer, you need to sign the pawn agreement, and we give you a cash loan on the spot and keep your item of value as a security, in a secure place until you come back to redeem your item, paying off your loan. The whole process is pretty straightforward and fast.
What Will Happen if I Don’t Repay the Pawn Loan?
In the rare event where you’re unable to repay the pawn loan, we’ll place your pawned item for sale on the open market; and recover our costs by selling your item. It won’t affect your credit record in any way.
Where Can You Find Us?
Mega Cash runs the business through its eight branches, spread across NSW – Choose your nearest branch!
3 Top Advantages of Pawn Loan
1. Pawn Loans Won’t Affect Your Credit Score!
If you default on paying your pawn loan, then it won’t affect your credit score. Instead, the pawnshop will get the possession (i.e. ownership) of your pawned item and sell it on the open market to recover the loan amount and interest, making a little profit in the process so they can run the business successfully.
2. It Is Possible to Extend Pawn Loans
Usually, pawn loans are given for a period starting from 1 day to 3 months. You can extend the duration by informing the pawnbroker and paying the interest in advance for one month’s extension.
3. You Won’t Receive Calls from Debt Collectors If You Fail to Pay Pawn Loan
If you fail to pay back the pawn loan, the pawnbroker will not transfer your account to a debt collector. The pawnbroker already has your collateral on hand and will sell it on the open market; to recoup the loaned money along with interest.
Mega Cash is a licensed pawnbroker and second-hand dealer in Sydney and adheres to all state and local regulations related to sanctioning of pawn loans.
Also Read: Why Are Pawn Shops Best for Instant Cash Loan Approvals?
