Most South Africans are beginning to worry about the rising in living costs and paying their bills such as school fees, medical aid groceries, petrol and other expenses.
Local pawn shops are reporting an increase in business as people look for ways to get some extra cash to get through month end needs, marketing companies also see a huge increase in keywords such as pawn my car for cash and pawn your car and still drive it
Pawn shop owners say more and more customers are bringing in whatever they can pawn to get some cash to get them through the week, customers bring in phones, tablets, electronics, gold, diamond jewellery and even pawn cars, trucks, boats, jet skis and other valuables.
Pawn shops all over the country are seeing an increase in business thanks to inflation.
people are needing money for petrol and food and just to survive we’re seeing a pretty good uptick about 20 percent up from last year on just loans you know people needing to borrow some money.
There has been a huge increase in car pawn which shows a sign that times are tough and people can’t afford to pay their insurance and fill in petrol in their cars and prefer to take taxis and uber.
it’s tough, whenever people are talking about it, this is my grandmother’s ring or this is my dad’s ring and they’re just needing R2,000, R3,000 maybe R10,000, the average loan is R5,000 to get through the month, to put R500 in the tank to get to work.
A lot of people were preparing for some tough times. they were coming in to pawn shops, selling some of their stuff, might of been moving to go to another town and so they were just trying to make a little money until they figured out what they were going to do.
local pawn shop sees rise in business due to inflation and it’s hard to hear some of the stories that come walking through their doors. “i don’t think any of us seen this coming.
of course we’ve been kind of a hand here with the pandemic, now inflation, i think we’re gonna get through it but it’s going to be tough times here for everybody but we’re here for you.
