Are you looking for a short-term secured loan in or around Sydney? Here’s what Cash a Way Secured Loan has to offer.
Cash a Way operates out of Mount Druitt in western Sydney and functions as a pawnbroker and a secondhand dealer. If you’re looking for money in a hurry, it can provide a secured short-term loan of $50 to over $50,000. The maximum amount you can borrow depends on the value of the item you wish pawn. Cash a Way also buys items of value.
It sells a variety of new and used consumer goods as well. It does this through its store and online. Find out about its services in the review below.
How do Cash a Way Secured Loan work?
Cash a Way provides secured loans, so you’ll need to provide some kind of collateral to secure the loan. The item you choose to pawn can be just about anything of value. Cash a Way Secured Loan provides loans from $50 to $50,000.
To get a loan from Cash a Way you have to visit its store and take item you wish to use as collateral with you. An employee values your item and makes you a cash loan offer on the spot. If you accept the offer, you have to sign the contract. Cash a Way can then give you the money you need.
The contract gives you a clear indication of the redemption period. You have to repay the loan amount along with interest and charges during this period to get your item back. Keep in mind than if you don’t repay the loan in time, Cash a Way sells your pawned goods to recover its money.
Features of a loan from Cash a Way Secured Loan
This is why you can think about getting a loan from Cash a Way Secured Loan:
- Use different items as collateral. As long as you have something of value, you can think about getting the money you need from Cash a Way Secured Loan. Examples of what you can use as collateral include jewellery, electronic goods, household appliances, musical instruments, gardening equipment and even vehicles.
- Get money quickly. If you’re okay with the loan offer, you can get the money you need almost immediately.
- Creditworthiness does not matter. Getting a conventional loan can be a challenge if you have poor credit history. This is not a concern with Cash a Way Secured Loan because you’re providing collateral to secure it. If you don’t repay your loan, Cash a Way Secured Loan sells your item to recoup it costs. The defaulted loan doesn’t get listed on your credit file.
- Use the money for any purpose. There are no restrictions on what you can do with proceeds from your Cash a Way Secured Loan, provided you use the money for legitimate reasons.
Fees and charges
Before you get money through Cash a Way Secured Loan you have to accept a pawn contract. This contract informs you of the total loan amount. It also tells you how interest much you’ll have to pay as well as other applicable fees and charges.
According to pawn broking law in Australia, you get at least three months to repay the loan and get your items back. If you can’t repay the loan within the specified time frame, you can seek an extension by contacting Cash a Way. However, remember that the longer you take to repay the loan, the more it will cost.
Are you eligible for a Cash a Way Secured Loan?
You don’t have to meet strict lending criteria to get a loan from Cash a Way. You can qualify if:
- You have an item that is over $50 in value
- You have an Australian residential address
- You can complete a legally required 100 points ID check
How you can apply
Applying requires that you visit the Cash a Way store, which you can do by visiting its website. You’ll have to submit some basic information to complete the application successfully:
- Your name, phone number, home address and email address
- Your date of birth
- Details from valid forms of identification such as your driver’s license, passport and Medicare card