If you are wondering if it is worth taking out a loan against your vehicle, it is! Especially when you apply for a quick and easy loan with XCELSIOR. Applying for a loan is made a simple task with our unique loan model, which merely requires collateral. We accept a variety of vehicles too, and these are cars, bakkies, vans, motorbikes, and jet skis.
What makes our loan model even more unique is that we do not put our customers through all the time-consuming hassle of credit checks, employment verification, and affordability assessments. Once your vehicle has been assessed and valued, we can make you a loan based on its value, and that alone. In fact, we can loan you up to 50% of the value of the vehicle and have a minimum and maximum loan limit of R5000 and R500 000 respectively. Sounds a lot easier than a usual loan, doesn’t it? That is because it is!
“We Can Offer You A Loan Based on Your Vehicle’s Value…”
When we say that you can take out a loan based purely on vehicle value, that is exactly what we mean. We will not do a credit check, verify your employment, or make you sit through an affordability assessment. We can even help individuals who are blacklisted or have a poor credit rating. This type of ease, simplicity, and convenience makes us the lender of choice for many people.
What Happens to Your Vehicle When You Take Out A Loan Against It?
A loan against a vehicle means that we will keep your vehicle in safekeeping as collateral for the duration of the loan period. The loan must be paid off according to the agreed terms and when this is done, the vehicle will be returned to you. During your loan, it will be stored in a safe and secure facility. You do not have to be concerned that your vehicle will be used or sold while it is with us. We will only sell the vehicle if you are unable to repay your loan. Of course, the vehicle will be sold on your behalf and any profit made over and above your outstanding loan amount will be paid into your account. But this only happens if you are unable to repay your loan.
Loan Responsibly
It is important to be responsible when you apply for a loan. While we do not carry out credit checks or affordability assessments when you take out a loan with us, we always encourage our clients to ensure that they can afford the monthly repayments attached to their loan. We will ensure that the interest rate is kept as affordable as possible.
Apply Online for A Loan with XCELSIOR
If you would like to apply for a loan online with XCELSIOR, you can! Our online loan application form merely requires your personal details and the details of the vehicle that you wish to use as collateral. You can email us or give us a call for more information on an XCELSIOR collateral loan at any time that suits you.
