Services

A.) Pawning

- The customer places his/her motorcycle to serve as a collateral in exchange of money

  1. Look for the officer in charge for the appraisal of the motorcycle.
  2. Submit requirements to the cashier.

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Requirements

  1. Valid Id such as Voter’s I.D Driver’s Liscense, Company I.D, Government I.D.
  2. Official receipt and Certificate of Registration of the motorcycle.
  3. Release of Mortgage (for encumbered motorcycles)
  4. Wait for the results of the evaluation.
  5. Wait to be called.
  6. Fill in the application form.
  7. Sign in the two copies of Loan Agreement, one copy of waiver, four copies of Deed of sale and the two copies of Conditional Deed of Absolute Sale.

B.) Renewal

The customer gives partial payment of the initial loan in extension of the contract.

  1. Bring the pawn ticket
  2. Ask for the amount of Interest at Service Charge to be paid.
  3. Pay in the cashier

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Deduction

“Motorsiklo”

2.5% Interest Rate
5% Service Fee and Processing Fee
+Facilitation fee and Verification fee for L.T.O and T.M.G.
300 pesos (one time fee)

C.) Redemption

-The customer makes full payment of the initial loan and gets the pawned item back.

  1. Present the pawn ticket or Loan Agreement to the cashier
  2. Pay the amount in the cashier
  3. Wait to be called (In case the redemption will be done by relatives or friends, present an authorization letter and I.D. from the loaner and bring any Valid I.D)

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D.) Overdue and Late Renewal

-For customers who failed to meet the deadline of payments according to the contract.

Five days late, 3%penalty
Ten days late, 5% penalty
Twenty days later, the motorcycle that has been pawned is now under the Sebastian Motorcycle Pawnshop.

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E.) Repeat Customer

-For customers who already have a record and wishes to pawn their motorcycle again.

If the motorcycle is of the same unit, and a week has already passed, verifications shall be done again in TMG and deduct half of the first verification fee that was paid.

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