A Viable Alternative to Car Pawn for Cash Offerings

With petrol prices being extremely high, food prices competing to top the margins of petrol, and electricity hikes on the horizon once again, you may be tempted to browse for car pawn for cash ads in the classifieds. This is especially true if you have already maxed out your credit cards and do not exactly have the credit worthiness required by banks to give you a personal loan. We most certainly do not recommend responding on ads for pawning your car for cash if you are not 100% sure that you will be able to pay back the loans.

If, however, you only need money for a business project or perhaps to pay off a large debt and know you can afford the monthly payment on the loan, we provide a safe alternative to normal bank loans. Yes, we will keep your vehicle in safe storage until the loan is repaid. True, you will pay interest on the loan as with any bank loan. However, your vehicle is the asset against which the loan is secured.

Why Does the Above Matter?

A bank requires income and expense statements and business plans for a business loan. For a personal overdraft, you must have good turnaround on your account. For a credit card or personal loan, you must be rather creditworthy, and the processing of your application can take some time. Considering that you may require the money fast, having access to a service where you can get a loan against your vehicle and have the money paid into your account quickly is certainly worth your while, especially if you do not meet the bank’s lending criteria. With us, you can borrow money for up to 50% of the asset value. Your vehicle is the security, and that is why it is safely stored until the loan is paid in full.

What if You Need an Extension?

We have your best interests at heart. If you are unable to pay the full amount when due, you can extend the contract if the total interest is paid on the date due.

What is The Difference Between Pawning A Car for Cash and The Loan Offered by XCELSIOR?

The pawn your car and drive it scheme is illegal. You can put your vehicle up as security if it is safely stored, and this is what we offer. We are fully insured, and your vehicle is insured for the period it is in storage. As such, your asset is kept safe, and once you have paid back the loan, you can drive it again. 

How Does Not Being Able to Pay Back the Loan Affect Your Credit Rating?

The good news is that even if you completely default on the payments, your credit record will not be affected. Your vehicle is the security and, as such, we can sell it and can recoup the money owed.

Need cash for a deposit on a rental home or perhaps to open a new business? Use our online application process or give us a call for a viable alternative to conventional bank loans and pawn your car for cash schemes. We offer competitive interest rates and a professional service in South Africa. You can also lend money against your motorcycle or truck.