Outlets

Your Questions Answered

Pawnbroking

How does a pawn loan work?

Unlike traditional banks and financial institutions that require extensive document checks and salary assessments, pawnbroking provides immediate cash loans within minutes based on the appraisal of your valuables.

We accept gold bars, gold jewellery, gold jewellery with gemstones, platinum jewellery, diamond jewellery and luxury timepieces.

Please bring your valuable item along with your identity document (NRIC/FIN).

The processing time for a pawn loan is typically as quick as five minutes. If you are unable to visit our stores, you can use our valuation service to receive an estimated value for your items within three business days.

The pledge value is based on our assessment of the item’s worth, considering material type, condition, and market trends. It may differ from the retail or resale value.

Each pawn is treated as a new transaction. As gold and market prices fluctuate, the assessed pledge value may vary even for the same item.

Each pawn ticket is valid for 6 months. The exact expiry date is indicated on the ticket under “Date of Expiry.”

To redeem your item, present your pawn ticket and identity document (identity card/passport), and pay the principal amount along with the accrued interest.
Yes. You may authorise another person to redeem your item by providing them with your pawn ticket. They must also present their own identity document (identity card or passport).

Upon the expiration of your pawn ticket, we will send you a Letter of Forfeiture. Please note that the date on this letter is final, and no extensions can be granted under the Pawnbrokers Act. All unredeemed items will be forfeited 30 days after the notice is sent to the pawner.

Yes. You may choose to reduce your loan amount each time you renew your pawn by paying off part of the principal. Visit any MoneyMax outlet for more information.

If you lose your pawn ticket, you can obtain a replacement by visiting the store where you have previously pawned your item with your identity card.

Car Drivers

Bank and in-house loans, what’s the pick?

We understand that it can be difficult to identify the right kind of car loan, so we are here to break it down for you:

  • Credit History: Bank loans may be the more cost-effective option for you if you have a good credit history with its lower interest rates. Do note the potentially longer (and rigorous) approval process!
  • Speed & Flexibility: In-house loans may be the preferred option for you if you are looking to get your car loan approved quickly, or require a longer loan tenure, or higher loan to value ratio.

To sum, bank car loans tend to provide the benefit of lower interest rates with a stricter criteria, while in-house loans offer greater flexibility to meet the varied needs of our customers. 

Yes, you can! We are a proud partner of most banks in Singapore and would be more than happy to refer your application to the bank(s) on your behalf. This way, we take the administrative hassle of applying to each bank individually away from you. Best of all, we do this at no cost to you!

Our administrative fees are typically priced from $300 and will be clearly stated in the approval advice that you receive.

As an alternative lender, our emphasis also lies on the value of the vehicle that is being purchase or refinanced. A bad credit history should not indefinitely exclude an individual from borrowing, and we believe that credit scores should be assessed alongside with the value of the vehicle. We will also encourage supplementing the strength of your application with an additional guarantor.
Our in-house loans are regulated under the Hire Purchase Act. If a borrower fails to meet his/her obligations, he/she faces the risk of having their vehicle repossessed. Repossession is however considered as the last resort and our preferred course of action is to communicate with our customers to work out a solution that is mutually beneficial.

We have a team of experienced professionals that will guide you in the application process. Assuming that we receive the entire set of documents required for the loan application (Vehicle Log Card, CPF statements for the last 12 months, NRIC), we strive to the turn the approval advice around between 1 to 2 days.

For queries in relation to your instalments, please contact us directly at 8133 3568.

For all other queries, including the early settlement of your vehicle loan, please contact us at enquiry@moneymaxleasing.com.sg.

Still have more questions? Talk to Us.