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How to Find the Cheapest Loan Online in Gumtree | Instant Cash

Gumtree is a huge classified advertisement site where you can find almost anything: from cars to property. This site is used by 3 to 5 million people in South Africa every month. Today, we want to show you that you can also find online loans at Gumtree. Moreover, we want to warn you about taking out loans without checking the providers’ trustworthiness. So, we will talk about personal loans, payday loans, cheapest cash loans; and we will make some recommendations as to which are the best options for your financial safety.

How Can I know if a Personal Loan Advertised on Gumtree is Legit?

Gumtree was founded in 2000 by a British entrepreneur who decided to create this page to make connections between Australians, New Zealanders and South Africans who moved to different cities and needed help to find apartments, jobs, furniture, and the like.

Nowadays Gumtree is owned by the multinational eBay and allows people to advertise a countless number of items. By making a quick search on Gumtree, you will be able to find many personal loan advertisements. But how do you know if the companies that offer these services are trustworthy? You can do this by checking if the credit lending provider is registered with the NCR.

For instance, one of the companies that advertises its service at Gumtree is one called Money Monkey Pty Ltd. This company is not a credit provider itself, it is the only webpage that matches your search with an NCR registered financial provider. Through this website, you can request loans of up to R200 000.

Tip to Find Cash Loans on Gumtree in Cape Town

Gumtree has an enormous amount of advertisements on its website. For this reason, for you to find exactly what you are looking for you should take advantage of their search filters. If you want to search for a cash loan that is specifically in Cape Town, like a loan to start your own business, you need to narrow down your search to Western Cape and then choose the city.

By following that easy step, you will see many offers displayed on the screen. For instance, you will find a company that offers cash loans by pawning your car. This company is called Devco Auto. This company is duly registered with the NCR and is located at Kraaifontein, a suburb of Cape Town.

Another tip that we want to share with you to help you find the cheapest loans online is using our loan comparator. This tool will let you find the cheapest loan in South Africa, and once you found it, your loan is just a click away! You’re invited to try it out: it has no cost and no personal data is requested.

Can I Find Private Loans on Gumtree?

On Gumtree, there are only people requesting to get private loans, but we could not easily find people offering them. Nevertheless, we think this is for the better. When you deal with private lenders you have no assurance as to who you’re doing business with.

There is a viable and interesting alternative to this, though. We’re talking about P2P loans. This is a new type of lending framework that involves a webpage matching borrowers and creditors in safety business. Peerfin is the leading platform for peer to peer loans in South Africa. This company is registered with the NCR and makes sure that both the borrower and the lender are trustworthy individuals. You should definitely give it a try if you are looking for private loans.

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Is it Safe to ask for Payday Loans found at Gumtree?

As it was explained above, the best way to know if a lending company is reliable is checking out whether or not they are registered with the NCR. By checking this, you make sure the company you are about to make a transaction with abides by the rules and standards established by the National Credit Act. When a company is registered with this government department, you will have the peace of mind of knowing that this company exists and that if anything should happen you have someone to turn to.

That said, it is not that easy to identify the organizations behind the payday loans found at Gumtree. With this, we’re not stating that the people making those offers are not serious; we’re only saying that we do not know how to corroborate their trustworthiness. For this reason, we would recommend other providers for your payday loan. In our site, you will be able to find many articles dealing with payday loans or instant loans.

What is a payday loan, anyway? We’re talking about unsecured cash loans that you ask for when you need the money due to an unexpected circumstance that you cannot cope with since you run out of money and you will not receive your salary until a few days. With this loan, you cover the expenses related to solving the issue, and you pay it back in full the following month when you cash your salary.

Little Loans is a credit lending provider that is registered with the NCR and that specializes in finding the best payday loans. With this company, you can ask for a maximum of R8 000, you can apply online, and approval is quick. Litte Loans, which has excellent reviews from their clients, only has a few requirements:

  • Providing your ID
  • Presenting a certificate proving residence
  • Being able to prove that you are permanently employed

With this few lines, we wanted to make you familiar with the online advertising platform Gumtree. You probably already knew this site, it’s used by millions of people in our country; however, you might not have been aware of the fact that you could also find online loan offers. We discussed that you can find different types of loans at Gumtree, but wanted to make you see that you should act with caution when it comes to choosing the providers. We talked a little about how to check if a provider is to be trusted or not and we made some recommendations as to reliable companies. Of course, you can choose the company you want, we only want to make sure that you will check if the provider is a trustworthy player. 

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Questions and answers

Is Gumtree an NCR registered provider?

No, Gumtree is not a credit lending provider, so they have no obligation to be registered with this agency. They only offer a platform for people to advertise their services. When you search for loans on Gumtree, you will be shown a list of people or organizations offering them. What you should do is check if that specific company is registered with the NCR.

If I have a complaint about a loan, I have to contact Gumtree?

Anyone can post on Gumtree, and the people who advertise through Gumtree are the only responsible individuals for what they offer. Gumtree has nothing to do with the arrangement you make with, in this case, a credit lending provider. If you contact a provider you found on Gumtree, and you have a problem, you should contact that provider and make the claim to them.

Can I report and ad if I know that a provider is not trustworthy?

Gumtree is a platform that operates on a community basis. For this reason, your feedback is welcomed. If you believe a post found on Gumtree is in violation of the posting rules established by Gumtree or if you think the content of the post is not reliable or appropriate, you can “report” the add. After you report the post by giving your reasons, Gumtree will analyze your request and decide if they will remove the add or not.

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