If you are one of the restaurant owners, not being able to operate for the past few months, you will be glad to know that we offer car for cash loans in Gauteng, Witbank, and Cape Town.
How do you benefit from the car for cash loan opportunities across South Africa?
You can use the money in whichever way you see fit, with no need to explain the reason for using your vehicle as collateral for a loan. You can apply for a loan to help get stock and cash flow, and to pay your employees in these difficult times. Below are some of the benefits of a car for cash loan:
- A fast and efficient loan application process.
- No credit or background checks.
- No need for proof of income.
- Ability to borrow between R5 000 and R250 000 against the vehicle.
- Cash in your bank account immediately once approved.
- You stay in control and can decide whether or not to accept the quote.
- Secure storage of your vehicle for the period of repayment.
- Reasonable repayment terms.
- Ability to extend the loan repayment period if all the interest has been paid in full.
- No effect on your credit record.
What do you need to apply?
You only need the original vehicle registration papers, your ID, and a valid South African driver’s licence.
What if the car is registered in your business’ name?
In this instance, you need the original vehicle registration papers, ID documents for all the directors, and the company registration papers.
Which types of vehicles can be used for loans across South Africa?
Passenger vehicles, trucks, boats, caravans, trailers, and motorcycles can be used as collateral for the loans.
What happens to the vehicle during the repayment period?
It is brought to one of our branches and it is then stored in a highly secure storage facility for the period of repayment. The facility has 24-hour security, electric perimeter fencing, and CCTV monitoring. It is not driven during the period and you receive it back in the exact order as received. We insure it while it is in storage, but you are welcome to also insure it for the period. The vehicle is protected against weather elements and vandalism, and because it is not driven during the period, therefore limiting wear and tear. As such, your asset keeps its value.
Why opt for one of the cars for cash solutions?
Restaurant owners across South Africa have been dealt a heavy blow in their income-generation capabilities over the past few months. With the high costs of opening up after months of closure or operations at 10% of capacity, restaurants are seen as high-risk operations when it comes to financing at this stage. With this in mind, it is difficult for restaurant owners to qualify for traditional loans.
If you operate a restaurant, do not despair. There is hope since you can borrow money against your vehicle to get the cash to resume business operations.
How to apply
Complete the online form to put up your car for a cash loan and one of our consultants will call you back, or SMS “Quick Cash” to 41235 and we will call you. The service is available across South Africa in our six branches situated in Gauteng, Witbank, and Cape Town.