Apply for a Collateral Loan

Need A Loan Urgently? Apply for Collateral Loans From XCELSIOR

If you have too much month left at the end of your money or had some huge expenses, you have options. You could sell assets to raise cash, but it might still not be enough, or it may take too long to sell your goods. You could apply for a bank loan, but these take time to process and the tough economy has forced banks to be very strict about their loan policies, so getting a quick loan at a bank may be difficult.

And what about your credit rating? If you apply for a loan from a financial-services company, they review your credit score and if your record is less than perfect, you may be denied or charged a lot of interest to compensate for the risk. One of the easiest options for many people is to apply for collateral loans from XCELSIOR. You will, however, need a vehicle, motorcycle, caravan, or truck as collateral. The process is quick and easy, and you can apply online. The process works as follows:

1. Application: Complete the online application form or give one of our agents a call. You may also visit our offices or an assessor can come to your home. You will have to provide some personal information and answer a variety of questions, such as the worth of your vehicle and whether it is paid off. There is very little paperwork; in fact, all that is required is your ID document or passport, your driving licence, and the registration paperwork to prove ownership of the vehicle. If you are using a business vehicle as collateral, you will need to provide your business registration certificate. If there are other directors involved, their ID documents will also be required. The vehicle will be assessed and its value determined. Collateral loans can be a minimum amount of R5000 to a maximum of R500 000. The amount you can borrow will be determined by the assessed value of the vehicle(s) you surrender for the collateral loans.

2. Assessment: Once all the paperwork has been supplied and the vehicle inspected, the assessor will determine for how much your collateral loan will be. You can borrow up to 50% of the vehicle’s assessed value. Your creditworthiness will not be considered; in fact, it does not even matter if you are blacklisted, because your loan is secured against your vehicle, so anybody can apply! Once the assessment has been completed, the XCELSIOR agent will make you a collateral-loan offer, and it is up to you to reject or accept it. Once you accept the loan and the loan agreement has been signed by you and the company representative, the vehicle will be driven to the XCELSIOR storage facility where it will be kept until the loan is paid off.

3. Receive money: Once the vehicle is safely in storage, we pay the money straight into your bank account. The whole process can take as little as 30 minutes. Once the loan has been paid off, the vehicle is returned to you.

To find out more about XCELSIOR’s collateral loans, just complete the online application form or give our team a call!