Luxury pawnbroking in Durban gives you access to the value of your prized possessions without having to sell them.
An asset secures the loan, which means you can borrow up to a percentage of the value of your asset.
In this article, we explore how this type of lending works and some of the advantages of luxury pawnbroking:
- what is luxury pawnbroking?
- luxury pawnbroking in Durban
- when to consider asset-based loans
- the advantages of luxury pawnbroking
- assets than can be used for luxury pawnbroking
- worldwide trends in high-end pawnbroking
- how to pawn an asset in Durban.
What is luxury pawnbroking?
Luxury pawnbroking is a type of asset-based lending that uses a valuable personal belonging such as a vehicle as collateral on a secured short-term loan.
The borrower surrenders the asset to the lender for the duration of the loan. It is returned once the loan is repaid in full.
The loan doesn’t affect the borrower’s ownership of the asset or their credit history.
Luxury pawnbroking in Durban
At Lamna, we’ve been offering luxury pawnbroking for many years. We are a registered financial services provider with offices in major South African cities and Botswana.
We offer luxury pawnbroking in Durban against a range of assets. You can start your application online or contact us for directions to our Durban offices.
Need a fast and discreet short-term loan? Apply online for luxury pawnbroking in Durban with Lamna.
When to consider asset-based loans
Asset-based loans like the type offered by Lamna are ideal for fast and discreet access to funds. These loans require a fully paid-off item of value that you own.
If you don’t want a loan that affects your credit score and credit history, a secured loan is the way to go.
Luxury pawnbroking is fast and discreet, making it ideal if you have an unexpected expense to cover and don’t want the loan to affect your credit score.
The loan must be repaid within a few months, so it’s not recommended if you aren’t sure you’ll be able repay the debt within this time-frame.
The advantages of luxury pawnbroking
Luxury pawnbroking is discreet, making it ideal for high-net worth individuals who want to leverage the value of their assets without affecting their credit history or resorting to selling their assets and breaking up their investment portfolio.
Other advantages of luxury pawnbroking include:
- competitive interest rates
- flexible repayment terms
- limited paperwork
- no credit checks
- funds within 24 hours
- asset insured and securely stored
- low risk.
Assets than can be used for luxury pawnbroking
We accept a range of high value assets as collateral for our loans. To use an asset for luxury pawnbroking, it must be fully paid off and in your name.
We accept the following assets for our short-term loans:
- cars, trucks and motorcycles
- boats, yachts and airplanes
- gold, jewellery and diamonds
- art and antiques
- luxury watches
- luxury handbags.
Worldwide trends in high-end pawnbroking
Luxury pawnbroking is a multi-billion-dollar industry that’s gaining popularity around the world as a safe and discreet alternative to the often-restrictive lending requirements of commercial banks.
Market research shows that the value of pawnbroking industry was more than US$39.94 billion in 2024. The global value of the pawnbroking industry is expected to reach more than US$50.67 billion by 2031.
Pawnbroking is gaining popularity in South Africa with more established and reputable lenders offering safe loans against a range of assets.
How to pawn an asset in Durban
To pawn an asset in Durban, apply online with a description of your asset and your personal information. We will contact you to arrange an appraisal to finalise your loan offer.
If you are happy with the terms, simply supply your ID, proof of residence and proof of ownership of the asset. Once finalised, the funds are transferred directly into your bank account within 24 hours.
WhatsApp Lamna for more information about luxury pawnbroking in Durban or apply online now to get a fast, discreet short-term loan.
ILLUSTRATIVE EXAMPLE
Client borrows R10,000 for 90 days.
Loan Amount | Repayment Period | Monthly Interest | Total Cost of Loan | Initiation Fee | Monthly Fee | APR |
|---|---|---|---|---|---|---|
R10 000 | 3 months | R500.00 | R2 914.50 | R1 207.50 | R569.00 | 60% |
Fixed rates range from 36% to 60% APR and payment terms range from a minimum of 3 months to a maximum of 24 months. Apart from the initiation and monthly fees shown in the table, the only additional fee is credit life insurance if the borrower does not have this already.
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