Image by Mark McLaughlin via Flickr
If you need extra cash to pay off a debt, avoid interest or simply need something in the event of an emergency, consider selling your gold and silver jewellery to Gold Buyers Melbourne. You’ll walk away with cash in hand should you and the buyers agree to a good price. Remember though to phone around various Melbourne refiners before settling on any old gold buyers.
Gold loans are extremely feasible for a short period since the cost of acquiring the loan is fairly lower than a personal loan. In fact, loaning against gold is massively appealing these days, and gold buyers Australia wide are gearing up to offer competitive gold loans.
In An Emergency
Hometown gold buyers agree that to sell gold usually trumps over personal loans, particularly if you require cash urgently. In fact, some gold experts claim that a gold loan is the fastest loan now that can be issued to a person since the cash is handed over immediately – unlike a personal loan where you have to undergo long, tedious procedures for approval.
For those who buy now in Melbourne, it’s agreed that gold loans are feasible in emergencies as well as for short periods since the cost of acquiring the loan is also a lot lower than that of a personal loan. And there’s very little eligibility criteria, too, which adds to the ease of the loan process.
You can get a Loan Now from those who buy gold in Australia – that is, any non-banking institution. And best of all, it only takes about 5 minutes after issuing proof of identification. There aren’t any processing fees either.
You can borrow a higher amount against gold – something that just isn’t possible with a personal loan. Many of the larger players will only lend money against household jewellery. Lenders seem confident about repayments as there is almost always sentiment attached to the items, which encourages people to repay on time.
Determining a Loan Amount
Staff in pawn shops based loan amounts on the value of your item as well as its current appraised value and condition. They also take their ability to sell the item into consideration. The final amount of the loan offer is typically based on either the wholesale, resale or second hand value of your items and not the new price.
But it’s not just gold jewels that are currently of value when needing a loan. If you have scrap gold, diamonds, gold coins, gold or silver bullion or a gold watch, you’re bound to fetch a reasonable price on those, too.
Gold Buyers Melbourne offers significantly favourable rates for diamonds and gold jewellery as well as offering one of the best rates in Melbourne.
You’ll need one of the following forms of identification in order to pawn your gold:
• Driver’s licence
• Tertiary education photograph and identification
• A document issued by a statutory authority and bears your photograph
When you need to borrow money quickly to get out of a financial tight spot, consider approaching lenders for a loan, especially if you don’t have a good credit rating.
What Happens If You Have A Poor Credit Score?
There are quite a few options available if this is the case. One of the most favourable is a gold loan. The loan is pledged against any item that is made of gold. And there is usually a substantial value involved. You don’t need to worry about your credit score since the value of your item will guarantee the loan.
Some reputable gold buyers will let you borrow amounts as hefty as $20,000 with low interest rates of around 1.5%.
The best part about pawning your gold for a loan is that it is hassle free, safe, and very convenient. Reputable buyers will pay close attention to both the safety and security of your treasured items so you can be sure that they will be waiting for you to collect them in the condition in which you lent them at the end of your loan.
A reputable buyer will be transparent about their payment information and interest rates – there should not be surprise fees or sudden costs during your loan repayment period.
Israel Brown is a great believer in gold. He advocates going for quick, easy loans using gold for emergency purposes. He believes that pawnshops, gold buyers, and non-banking institutions like Gold Buyers Melbourne are the places to go to for your old gold and other jewellery pieces. He thinks that investing in gold will help people in the long run.