“Can I make a quick loan against my car?”
This is a question that we often hear at XCELSIOR and the short answer is “yes”. You can take out a loan against your car if you meet a few qualifying criteria. While we do not require much, we ensure that the process is monitored for your safety and ours. To help you understand your options and what is required, here are a few FAQs for you to read before you decide:
- What are the minimum requirements to take out a quick loan against my car? You must have a vehicle that is registered in your name and is paid off in full. The vehicle will be assessed and up to 50% of its value is what you will be able to borrow. If the vehicle is not registered in your name, but you have permission to use it as collateral, you will need to provide a letter stating this from the owner, along with the details of the owner. We will need a copy of your ID too.
- Do I need to be employed to take out a loan with XCELSIOR? No, you do not need to be employed in order to take out a loan with us. The vehicle is used as collateral and therefore, you do not even have to prove your income.
- Am I selling my car to XCELSIOR or will I get it back? No, you are not selling your vehicle. When you choose to use your car as collateral for a quick loan, the vehicle will be parked in our secure storage facility. Once the loan has been repaid according to the agreed terms, the vehicle will be returned to you. That is the beauty of a loan with XCELSIOR – you do not have to give up your asset.
- Can I make a quick loan against my car even if I am blacklisted? Yes, you can. We do not follow the same loan model as other financial institutions. As long as you have a fully paid-off vehicle that can act as collateral, you can apply for a loan with us, so blacklisted individuals are welcome.
- Do I need to bring my vehicle to you if I want a quick loan against my car? No, you do not. You can start the process by applying for the loan online. If we can assist you, one of our consultants will get in touch. We will then visit you at your premises for a full assessment of the vehicle’s value. We can drive the car to our storage facility if you choose to go ahead with the loan, but you are more than welcome to do so yourself.
I Am Ready to Apply for A Quick Loan Against My Car!
If you are ready to take the next step and you have a car available as collateral, feel free to get in touch with us. You can send us an email or give us a call for more information and advice.