The allure and charm of gold never get old. And those who often use these precious metals in their possession to secure instant cash loans; they should know that the higher the purity of their precious yellow metal, the higher is the loan amount valuation!
In fact, many hold the opinion that whenever any urgent need for cash arises, it is always better to opt for gold loans instead of personal loans.
Furthermore, if the loan borrower has the requisite KYC docs (Know Your Customer), there is every possibility that s/he may walk out with sufficient cash loan within an hour (if not earlier)!
Once the loan provider inspects the weight, shape, size, and purity of the offered gold item, they usually are ready to provide 75% to 80% of the overall gold’s value in the form of cash loans.
Moreover, another benefit of securing gold loans with reputed pawn shops of jewellery stores is they require very little paperwork. Plus, the respective loan lenders don’t check the loan borrower’s credit scores, and neither do they seek for any proof of income to determine their cash flow!
All these appreciative conveniences make opting for and securing gold loans way easier than personal or other forms of loans for your emergency purposes!
Let’s Dig Deeper On the Steps to Securing Gold Loans
To be honest, the steps to ‘get a loan on my gold’ are very easy!
- You firstly have to find the right pawn shop or gold buyer in your area who assures you to deliver immediate cash loans at the lowest rates across Sydney.
- You take your gold items – be it your luxury watch, gold coins, gold bullion, gold jewellery, and so on; to the chosen pawn shop for a through an appraisal.
- Your loan provider also inspects the purity, weight, and presence of impurities in your gold items and accordingly determines the true value of your precious metal.
- Once that is done, they provide you with a list of possible loan offers along with their monthly fee interest for you to clear off. While most pawn stores will happily provide you 35% rates every month, if you search more diligently, you may find some pawn brokers who might agree to charge 2-3% each month for a total sum of Au$ 20,000 (or above).
- Once you both agree to the loan proposal, the pawn broker will happily provide you with instant cash on the spot.
- While they do this, they will seek your ID card, and contact details to timely send you reminders about your monthly due via texts.
Presenting your gold items as collateral in exchange for instant cash loans has never been easy. All you need to do on your part is sort out a reliable pawn store in your region based on their specialization, their monthly loan interest, their trading legitimacy, and their positive customer reviews.
Once you do that, please schedule an appointment with them at a convenient day and take your gold belongings to their pawn office. From there, their expert broker(s) will handle the rest and even instruct you what to do!