What are my rights when I pawn goods?
Second-Hand Dealers and Pawnbrokers Act 1989 (Section 23(3)(b))
In brief
- The pawnbroker must give you a pawn ticket and written notice of the charge you will have to pay in addition to the loan.
- If you do not repay your loan in time, the pawnbroker can sell your goods without telling you.
- If the pawnbroker sells your goods, you are entitled to claim the money left from the proceeds of sale after the money you owe under the loan, any unpaid pawnbroker’s charge and the reasonable costs of sale of the goods have been deducted. For further information •If you have any questions about your rights when you pawn goods or if you have a complaint about a pawnbroker, please contact NSW Fair Trading.
In more detail
Pawnbroker’s charge
The pawnbroker will charge you a weekly or monthly amount (sometimes called interest) and must give you written notice of the amount of the charge.
The pawnbroker’s premises must have a sign that shows the maximum amount charged by the pawnbroker on pawn transactions.
The pawnbroker must not charge you more than the maximum amount shown on the sign, unless the notice given to you states the reason for the higher amount and you agree in writing to pay the higher amount. You must also be given a copy of this agreement.
Repaying the loan
You may repay your loan at any time before the pawnbroker sells your goods, even if the period of your loan has ended. The pawnbroker must record on your pawn ticket all payments you make on your loan.
Claiming your pawned goods
You may claim your goods back by paying what you owe under the loan, and the amount of unpaid pawnbroker’s charge. You may claim your goods back at any time before the pawnbroker sells them, even if the period of your loan has ended. When you claim your goods back you must show the pawnbroker —
- your pawn ticket; and
- one piece of identification with a photograph (such as a passport or a driver’s licence) or two pieces of identification without a photograph (such as a birth certificate, health care card or a marriage certificate). If you do not have these, either the pawnbroker or Consumer Affairs Victoria can advise you what other identification can be used.
Lost or stolen tickets
If your pawn ticket is lost or stolen, the pawnbroker must give you a replacement pawn ticket if you provide —
- a statutory declaration stating that your ticket has been lost or stolen; and
- proof of identity as set out above.
Selling unclaimed pawned goods
- If you do not claim back your goods by the end of the loan period, the pawnbroker can sell them without telling you.
- The pawnbroker must sell your goods as soon as practicable after the end of the loan period and must obtain the best price reasonably obtainable for the goods.
- It is illegal for the pawnbroker to buy your goods.
Money left over from the sale of unclaimed pawned goods
- If your goods are sold, the pawnbroker is entitled to deduct from the proceeds of sale any money you owe (under the loan and the pawnbroker’s charge) and the reasonable costs of selling the goods.
- You are entitled to any money left over from the proceeds of sale after these amounts have been deducted, if you claim it within 12 months after the sale of the goods.
- If the amount of money left over is $10 or more, the pawnbroker must send you a notice advising you that you can claim the money.
- The notice must be sent within 14 days after the sale to the last address you gave the pawnbroker unless you gave an alternative address for sending notices. It is important that you tell the pawnbroker if you change your address.
- If you do not claim the money left over within 12 months after the sale of the goods, you are no longer entitled to it and the pawnbroker can keep it.
- It is illegal for the pawnbroker to refuse to pay you the money left over if you request payment within the 12-month period. If the pawnbroker refuses to pay you, you may apply to the Magistrates’ Court for an order that the pawnbroker pay you the money.
Frequently Asked Questions
Can I loan money against my car and still drive it, no credit check?
NSW Law States: “To borrow money from a licensed car pawnbroker, borrowers must leave an asset with the pawnbroker, who loans you money secured against the asset until the debt is repaid” you can reclaim the asset at any time, by paying what you owe.
Therefore, we must hold your vehicle in our secure yard whilst the loan is outstanding.
What is a vehicle Pawnbroker loan, NSW?
A vehicle Pawnbroker loan is a short-term cash loan against a vehicle. The loan is secured instant loan where you use your car as collateral to receive money from a pawnbroker, such as highly recommended, professional and reputable www.vpsydney.com.au
Vehicle Pawnbrokers Sydney located at 223 New Line Rd DURAL NSW 2158
These loans don’t require a credit check or proof of employment, offering a fast way to get cash for people with bad credit or irregular income. There are no credit or background checks. No employment or salary details required. We do not need to know the purpose of the loan.
The vehicle will be held in our private and secure storage yard until the loan is paid in full including interest.
What do I need to pawn my car in Sydney?
If you own your car outright, you can pawn my vehicle for a loan without a credit check.
Simply bring your car, ID, and proof of ownership to Vehicle Pawnbrokers Sydney, or visit www.vpsyney.com.au APPOINTMENT REQUIRED.
How fast can I get cash loan against my car?
Visit https://vehiclepawnbrokerssydney.com.au/#applynow1 for approval in minutes, then make an appointment to get $ funds same day.
Can I lend money against my car title?
Car Title Loans Online – Use Car as Collateral
When you’re short on cash, using your car for collateral loans can be a quick and easy way to get the money you need. At Vehicle Pawnbrokers Sydney, we make the process simple—no credit checks, no long waits.
Just visit https://vehiclepawnbrokerssydney.com.au/loans/car-title-loans/ call then bring in your car registration and ID, and you could have the funds in under one hour, our collateral loans on vehicles process takes 5 to 30 minutes.
