Cash Crusaders vs Cash Converters in SA

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The idea for a Cash Crusades vs Cash Converters comparison came about very organically. Like the best assessments do sometimes, there was even something a little fateful about how this one occurred. But more about that later …

Nevertheless, when it comes to Cash Crusaders vs Cash Converters in South Africa, most agree they’re the most-trusted pawnshop chains in the country. There’s no denying when it comes to Cash Crusaders vs Cash Converters in South Africa, we’re talking about multi-million Rand franchise operations. But as we’ll find out, while on the surface Cash Crusaders and Cash Converters may seem like similarly matched operations, their current market position and service levels are in striking contrast.

According to their websites, Cash Crusaders currently has 264 locations. And Cash Converters has grown to 95 stores from just one original site. However, globally, Cash Converters operates more than 700 shops across 18 countries. So, we can say the former is more ‘local is lekker’ while the latter is internationally recognised …

If you need quick cash or a loan, both stores are able to help. But which is better in our experience? Image: File

All of which matters little in our Cash Crusaders vs Cash Converters comparison in South Africa. The task is real simple. Take the exact same item to both secondhand pawnshops and see which offers the best deal and service. When selling anything to a Cash Crusaders or Cash Converters in South Africa all you need is a valid ID.

The item in question is a 150 GB Sony PS3 gaming console. It’s a console we’ve long-since replaced and have been meaning to sell for years. To facilitate the deal, we include everything you need to go with the console. So, a Dual-Shock controller and even an HDMI cable, which all work perfectly. Being nearly a decade old, it isn’t exactly a hot-ticket item, granted, but the comparison between the two sale experiences is the key here.

Likewise, we acknowledge that this Cash Crusaders vs Cash Converters comparison is in no way definitive. It’s merely what we experienced at this point in time, at these specific locations, selling this particular product. And we’re not going to name specific stores here either. But we will say we were surprised by the range of offers we received …

LOOKING FOR ‘FAIR VALUE’

Ironically, how we even got the idea was by inputting ‘Cash Crusaders near me’ into Google Maps, only to be directed to a Cash Converters instead, just around the block. Nevertheless, we had time, so decided to explore this Cash Crusaders vs Cash Converters comparison to see what we could learn.

We approached both outlets with the same line: “Just give me fair value.” The first offer from Cash Crusaders for the all-inclusive console was R500! Keep in mind, on their website the same item with accessories is selling at an average price of R1 500. From the start, this particular Cash Crusaders’ staff member was trying to justify a low price by implying the controller was broken and not taking charge through its cable. This just wasn’t true.

Of course, we had no issue saying ‘no deal’ to this gentleman and trying my luck at the Cash Converters nearby. Here, a more agreeable staff member offered us R600. Now we’re getting somewhere. His service was undoubtedly better, but the store itself was less inviting/welcoming than the Cash Crusaders in an open-air mall. Positioned right on a busy street front, at least two vagrants entered the Cash Converters and kind of milled around uneasily. We made an excuse and got out of there …

ART OF THE DEAL

However, the atmosphere at each shop, and the contrasting level of service got us thinking. Because all these pawnshops are franchise run, it stands to reason that each store will be run differently. So, we had the idea to try our two more Cash Crusaders and Cash Converters in different suburbs to better assess the difference.

Voila, in arguably a better neighbourhood just a few minutes away, we were offered more for the exact same item. At a second Cash Crusaders, the offer was now R700. And at another Cash Converters the offer was R650. Eventually, we went with the second Cash Converters who was willing to come up to R700 to match the highest offer. Nevertheless, what we learned from our Cash Crusaders vs Cash Converters comparison is that staff and store location matter.

Of course, you may not be able to travel around from store to store like we did. But our advice is try your best to shop around, it does make a difference. If you’re not vibing with a particular staff member, you can always come back later when someone else is working the desk. Also, the one store hates losing to the other, so you can negotiate up (within reason) by saying the other offered you X price.

However, both of these popular South African pawnshops only make money off big margins, so don’t expect an unrealistically high price for your used goods. And be prepared to see it in the shop window the next day with an asking price of more than double, maybe even three times more. That’s just how it works …