Do you own a fully paid-up car, bike, truck, trailer, or caravan? If so, you can qualify for a secured loan against a car or one of the other types of movable assets mentioned. It is a quick and straightforward way to get cash in your bank account without having to go the through the lengthy credit checks.
Why is it a secured loan?
Your vehicle is the security for the amount borrowed. To ensure the car’s value is not affected during the loan repayment period, the vehicle is placed in a secured storage facility. The facility has 24-hour security that includes surveillance cameras and electric perimeter fencing. The asset is insured while in storage and it is protected against the weather elements. The vehicle is not driven for the entire period of the agreement.
The amount that can be borrowed
The amount that can be borrowed is based on the assessed trade value of the car. Between R5 000 and R250 000 can be borrowed against the vehicle. The amount is not based on your income, credit record, or security apart from the vehicle.
Documents required for the application
The only documents required are your South African ID, original registration papers of the vehicle, and a valid South African driver’s license. The original registration papers of the vehicle are necessary to show that you have paid off the vehicle, that the vehicle is not currently used for another secured loan, and that it belongs to you.
Documents required if the vehicle is registered in a company’s name
In this instance, you need the ID documents of all the directors, the company registration documents, and the original registration documents for the vehicle.
A period for repayment is agreed upon. Keep in mind that it is a short-term loan. The period can be extended if all the interest has been paid up should you not be able to pay in the originally agreed-upon period. You can pay off the amount earlier. This is the perfect solution if you need money urgently to tie you over a difficult financial period or to pay for unexpected expenses.
Quick application process
You do not have to complete lengthy application forms or go through the tedious process of background, employment, and credit checks. The application process can be completed within 30 minutes. Once approved, the money is paid to your bank account immediately. If you need money urgently, make use of this easy straightforward means to get cash against an asset.
We do not make calls to friends, employers, or family members as part of a verification process. As such, it is a discreet process and you do not have to disclose the reason for borrowing money.
Excellent track record
We have several branches throughout South Africa, offer a convenient online enquiry form, and boast a high customer satisfaction rate as proven by the many testimonials from our customers.
Read our FAQ section for more information and use the online enquiry form to start the application process for a secured loan against your car.