Frequently Asked Questions
What is an AutoPawn Loan?
AutoPawn is a specialist in providing loans against your assets. It is a method of using the value of your assets, that can be a car, motorbike, boat, truck, campervan, jet ski, etc., to borrow money without credit. Checks we are the only company in Queensland that operate as a professional pawnbroker and provide funding and loans under a contract of pawn. Whilst letting you keep the vehicle for the period of the loan.
How long are the loan terms?
Pawn loans are usually short term funding, 1-3 months with interest paid monthly.
How much can I borrow?
We offer loans from $1,000 – $100,000 depending on your requirements and the make, model and age and value of your vehicle.
How do I apply?
You can simple send us a e-mail or a file up the contact form on our websites so we can get back to you, or you can give us a call on 0479 084 990 or visit us on 35 Upton Street – Bundall – Gold Coast.
What are the qualifying criteria for an AutoPawn Loan?
You must be over 18, the owner of the vehicle, Australian resident or have a valid visa. Have and have a regular income from which you can make the loan repayments.
What do I need at the appointment?
We will need to inspect your vehicle, a copy of your driver’s license, copy of Medicare card copy of your credit card or a bank statement, copy of utility bill, a copy of the insurance policy. We are going check the documentation and ask you to sign the contract.
How is the loan paid out?
The loan is paid out immediately after you sign the loan agreements with our representative. You can have the funds by EFT on the same day.
How long does the appointment take?
The appointment usually lasts 20-40 minutes. This is to give you plenty of time to read the AutoPawn Loan agreements, complete the affordability assessment and ask any questions you might have.
Is the application confidential and secure?
Yes, we are going to respect your privacy and you can be sure that will be a confidential and secure way to borrow money.
Are you regulated Pawnbroker?
Yes, all our loans are regulated by the Second-hand Dealers and Pawnbrokers Act 2003.
I’m Self Employed, does that matter?
No, as long as you can demonstrate a regular income and that the loan repayments are affordable we will offer you an AutoPawn Loan.
What do you loan against?
We offer our loans against cars, Utes, motorcycles, trucks, campervans, motorhomes, boats, yachts, luxury & prestige classic vehicles. Land and property.
How old does my vehicle have to be?
Your vehicle should ideally be newer than 8-10 years old, though this depends on the make and model.
Can I use my vehicle while the AutoPawn Loan is being repaid?
Yes! You can continue to use your vehicle as you would normally, As long as you pass our credit criteria.
What if I have bad credit?
No problem our AutoPawn loans are based on your ability to make the loan repayments and the value of your vehicle, we judge each application on its own merit and aim to make all applicants an AutoPawn loan offer in principle.
Can I settle early?
Yes. You can settle the loan at any time with no early settlement penalties.
How do I repay the loan?
The loan is repaid in either weekly or monthly installments or in full as one payment at the end of the loan. We accept Cash, Efpos, EFT, or direct debit. We also accept credit cards but a surcharge will apply.
What happens if I have trouble paying?
AutoPawn are a responsible lender and we will work very closely with you if you run into any financial difficulties. It is essential that you maintain contact with us during this period and make some repayments to keep the account active.
Can I surrender the vehicle to you?
Yes. If you run into any unforeseen financial difficulties at any time you can surrender the vehicle to us. You won’t incur any recovery costs and once sold you will receive any excess funds from the sale and will be liable for any shortfalls from the sale.
When do we repossess a vehicle?
We only repossess vehicles as a last resort and only if there is no willingness or intention to repay the loan. We are responsible lenders and will work with you if you happen to have any financial difficulties.
What happens once we have repossessed the vehicle?
Initially we will hold the vehicle for 14 days to give you a chance to settle the loan and collect the vehicle. We will sell the vehicle after 14 days and use the proceeds to settle the loan. Any excess funds will be repaid to you. You will be liable for any shortfalls in the sale of the car. Remember, Vehicle repossession is a costly affair and we’d rather not have to do it.
As responsible lenders we only repossess vehicles as an absolute last resort when all other attempts to collect payments have failed.
How do I contact you?
You can contact us by email firstname.lastname@example.org, phone 0479 084 990 or by seeing us at 2/35 Upton St. Bundall, QLD, 4217.
What are the late payment costs?
We’d rather not make any charges and we will remind you by SMS and Email when you miss a payment and give you the opportunity to pay then without charge.
However, we will charge $15 for each letter & email we have to send you for each missed payment after that. We will also charge $5 for each phone call we have to make when we are chasing payments.
To avoid these charges please ensure your payments reach us regularly and in good time. If you have any problems get in touch with us as soon as you can and we will work with you to arrange another suitable payment date or method.
Why was my application unsuccessful?
This is most likely because your vehicle or credit history did not meet some of our criteria.
You might not be the owner yet or have all the right documents. If so, please apply again when you do. We will store your details for 60 days so you can re-apply easily again.
Can I have more than one loan?
No. As responsible lenders we will only allow you one AutoPawn loan on your vehicle at any one time. Once you have repaid your loan though you may apply for another one. If your first account was paid well then we may increase your trust rating with us and offer you more the next time or better loan rates.
Can I add additional funds to my loan?
Yes! Depending on your circumstances and how much you initially borrowed it may be possible to get an AutoPawn Loan top up.
Can I get an AutoPawn loan if I don’t have a bank account?
No, you must have an Australia bank account.
I am not in employment and receive benefits; can I get an AutoPawn loan?
Yes! We judge each application on its own merit and as long as you meet the qualifying criteria and can comfortably afford the loan repayments then you will be considered for an AutoPawn loan.
Can I get an AutoPawn Loan for my car that is in the garage for repair?
Yes! As long as you meet the criteria above you will be eligible for an AutoPawn Loan. We would discuss the repair costs and pay the garage directly for you!
Why do you need the spare key?
We may be able to make you a higher loan offer with better rates if you submit your spare key to us. It is held securely and returned to you when the loan is paid in full.
I still have some finance outstanding, can I apply?
Yes! Depending on how much you have outstanding we may be able to settle the outstanding finance and you will receive the difference.
Do I require a credit check?
No we will still give you a loan if you have had bad credit we base our loan on your assert and your ability to repay the loan.
I have recently entered employment/changed jobs; can I get an AutoPawn Loan?
Yes! We offer AutoPawn Loans for anyone in regular employment that meets our criteria.
What days are you open?
We can arrange to see you Monday – Saturday including some Bank Holidays.