You can pawn your car quickly to get cash for rent and other expenses while your business is not able to operate because of lockdown regulations. If you own a liquor sales outlet, wine tasting venue, pub, events company, or a beach-side kiosk, then you know that not being able to operate means no income for the period of liquor sales, group size, and beach usage restrictions. Without the business operating, the banks are rather reluctant to lend you money to bridge the period of no income.
Fortunately, the banks and conventional micro-lending companies are not the only means to get access to emergency cash when you need it. Read on to discover how you can pawn your car quickly through our hassle-free and convenient service.
How it works
Your vehicle is the collateral for the loan. We assess the value of the vehicle based on its make, model, mileage and condition Our consultants offer you a loan amount and explain the terms of payment. The loan repayment period is discussed along with the interest payable. If approved, the money is paid directly to your bank account. There is no waiting period. The application can be completed within 30 minutes, and the cash is paid to your account instantly.
What you need to pawn your car quickly
You only need your ID, a valid South African driver’s licence, and the original registration papers of the vehicle as proof of ownership. You cannot use the vehicle as security for a loan if it is still under finance as you are not yet the full owner. You may have registered the vehicle in your business name. The good news is that it can still be used as collateral for the loan. In this instance, you will need a copy of your ID, valid South African driver’s licence, the original registration papers of the vehicle, company registration documents, and the identity documents of all the directors.
What happens to the vehicle?
It is stored in a highly secure storage facility for the duration of the loan repayment period. It is not driven at all, and we insure it. You can also insure it for the period. The facility has state-of-the-art security that includes surveillance cameras, electric perimeter fencing, and access control. The vehicle is protected against vandalism, theft, and natural elements. You receive it back in the exact condition as originally submitted once the loan has been settled.
Pay off the loan faster without penalties
Unlike fixed-term loans, which often have hefty penalty clauses for early settlement, with our solution, it is a straightforward pawn transaction. This means you will not have to pay penalties for settling the loan earlier. You can get money now for the period that your business cannot operate. When it is able to open its doors or generate income once regulations are more favourable, you can settle the loan earlier.