how pawning works
it’s simple really
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How much would you like to borrow? We currently offer cash loans from $100 to $5,000.
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We lend up to a percentage of what your pawned item is worth. This ranges from 20% to 80% of its value.
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Fill out the form and the calculator will tell you how much you’ll have to pay back. This depends on the length of the loan.
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Once we get back to you with an offer, take the cash and go hard!
Fill out the form below
(Keep scrolling down to see an example of our pawn loan agreements)
The above Pawn Loan Agreement document is an example only, and may be subject to change in accordance with our Terms and Conditions
borrower FAQs
All we require is valid photo identification (NZ passport or NZ driver's license) and up to date contact information. That’s it!
Nope! Once approval is given for a pawning or selling transaction, we sign the forms and pay out the money.
We don’t have any fees to set up loans, or to terminate loans, no account fees no nothing. We only charge the interest on a pawn loan.
It depends on the length of the loan, the longer the loan period the higher the interest because it’s more risk for us. For just 10 days, there’s a 9.95% interest on the principal amount. For a 30-day loan the interest is 14.95%, and for a 60-day loan the interest is 19.95%.
We don’t have a repayment schedule so long as the full repayable amount (principal plus interest) is paid back before the due date. It doesn’t matter if the amount is paid back the day after the loan is given, or the day before the due date – the interest amount is the same. Once we’re paid back, collateral is returned to the borrower!
Yup! You can extend the period of an existing pawn loan for the same duration. The interest for the new period will be calculated based on the original repayable amount.
If the loan isn’t repaid by the specified date, then we seize possession of the pawned item(s). It’s not as bad as it sounds! By law, we have to sell these items to the public and if they sell for $10 more than the loan amount, then borrowers are entitled to 90% of all the profit! We keep the other 10%. If it sells for less than the borrowed amount, then the loss is ours.
Whilst your loan in active, goods will be stored safely and securely and you have the right to view them at any time to check they’re still in the same condition. If the items are seized by us due to a default on your loan repayment, then they will go up for sale.
No, we only engage in pawn loans. For further information on personal loans, please contact a bank or financial advisor.
Most applications are approved right away. In the rare occasion that we don’t approve, it’ll usually be because the amount requested doesn’t match up with the value of the collateral, or that the item just isn’t something we’re interested in (either it’s out of our wheelhouse, or it’s in poor condition). Every application is assessed individually, and we’ll try our best to come up with a solution.
The amount we lend against an item is on a case-by-case basis, and depends on a variety of factors such as age, condition, authenticity etc. It can be anywhere between 20%-80% of the item's current market value.
We take precautions to ensure the safety of all items but we don’t currently offer insurance, so we can’t guarantee this. We advise borrowers to have their own contents insurance for peace of mind.
If borrowers decide they want their loan ASAP, we will process it straight away and be in touch. They can also choose to be flexible on when they get a loan. In this case, we put the loan offer out for a lender to fund it. However, if a lender doesn't fund the loan within 5 days, we will fund it without hassle.
