Those who do not have a gleaming credit record or have been blacklisted in the past will undoubtedly feel the sting of loan application denials. Unfortunately, it is a fact of life – you have to have money in order to loan money and while this is an unrealistic concept, it is easy to understand why financial lending institutions have the stipulations and limitations that they do. If you find that you are unemployed or are blacklisted, your best option is to seek out pawn loans. These types of loans do not mean that you can acquire money for nothing, but what you can do is use your vehicle as collateral.
Sometimes an unexpected expense can blindside you and, in some cases, you might just need some bridging cash until your business is set up or the sale of your property goes through. Whatever the case may be, a loan can really ease the financial stress that you might be experiencing. Understanding how loans work and investigating the interest rates attached, is the first step to applying for a loan. You will need to know just how much additional money you are repaying on your loan and will need to budget accordingly. Making a list of your expenses and factoring in a monthly loan repayment / instalment is a great way of preparing for a loan and deciding if you can actually afford one. Always be realistic when it comes to finances – safeguarding yourself against potential further debt is absolutely essential, and something that we encourage at XCELSIOR.
Pawn loans at XCELSIOR are our basic loan model. This means that in exchange for your vehicle as collateral, we will loan you an agreed amount. We accept a variety of vehicles as collateral, including Jet Skis, cars, bakkies, SUVs, trucks, motorbikes and so on. The process is simple, but will require that one of our professional consultants visits you to assess the value of the vehicle. Once this has been decided on, we can then loan you up to 50% of the vehicle’s value. It is best to only loan the amount that you need, especially if 50% of the vehicle’s value is more than you require. Excess debt is certainly no way to try to get out of a financially sticky situation. If you agree to the loan terms, the money can be paid via EFT into your bank account on the very same day. This is quite a convenience, especially for those who need to get cash in a hurry.
Once you have agreed to our loan terms, your vehicle will need to be relocated to our storage facilities. This facility is well-equipped to protect your vehicle and we have 24-hour security to ensure its safety. Your vehicle will remain in your ownership and it will be returned to you in the exact same condition, when the loan amount has been settled. There are two ways in which you can settle your loan. The first option is to pay monthly instalments for a certain period of time. The second option is to settle the outstanding amount in one lump sum by a certain date. Unpaid loans can result in the sale of your stored vehicle, so we always encourage lenders to ensure that they can afford to repay the loan that they are applying for.
At XCELSIOR, we can assist you with acquiring access to well-priced pawn loans. We will ensure that you are provided with fair interest rates and that the repayment terms attached to your loan are fair. We are available to discuss your financial needs with you at any time and encourage you to get in touch with us via email or telephone at your earliest convenience.