Do you need cash in a hurry or for an emergency? Do you need short-term cash to help you out of a financially sticky situation? Many of us don’t have savings accounts and investment accounts to fall back on. Have you ever thought of using your car for cash? This is especially a good route to take if you are looking for a short-term loan and can do without your vehicle for some time.
Using your car for cash is also a viable option for those who are blacklisted, have a poor credit rating, or simply cannot achieve an approval from the local banks and lending institutions. The criteria to qualify for regular bank loans these days are quite strict and many people who need financial aid are turned away, disappointed. With our unique loan model at XCELSIOR, there is no need for you to fear being denied when applying for a loan. Our loans are open to everyone, even blacklisted or unemployed individuals.
What makes our loan model different at XCELSIOR and how is it possible to use your car for cash? We hear questions like these on a regular basis at XCELSIOR and the answers are quite simple. Let’s start at the beginning. First and foremost, we don’t offer loans on the same premise as other institutions do. We don’t ask you for payslips to prove your employment, we don’t ask for bank statements, and we also don’t spend time carrying our credit checks or checking your references. This doesn’t mean that we don’t have minimum requirements that you need to meet with when applying for a loan.
You will need to be able to comply with the following:
- You must be a resident of South Africa to use your car for cash.
- You must have a vehicle to use as collateral that is in your name and paid off. We accept cars, bakkies, SUVs, motorbikes, jet skis and similar.
- You must have a bank account for us to transfer the funds into.
Applying for a loan can be done by completing the quick and easy form on our website. We will require your personal details and the details of the vehicle. An assessor will need to visit your premises to value the vehicle and complete the application process.
Some things you need to know when using your car for cash:
- We will take possession of the vehicle for the duration of your loan contract. Our storage facility offers 24-hour security – your vehicle will be completely safe. You can deliver the vehicle to our storage facility or we can collect it from you.
- The vehicle will be sold in the event of the loan not being repaid. If we sell the vehicle for more than the outstanding debt, the balance will be paid over to you.
- We only loan up to 50% of the value of the vehicle.
- Our maximum loan amount is R500 000 and our minimum loan amount is R5 000.
- On approval of your application, you can have the requested cash paid into your account within just 30 minutes.
- You can earn 1% commission when referring clients to us and their loan application is successful.
If you are shopping around for the best loan packages and deals on the market, rest assured that you are at the right place. Use your car for cash and ensure that you are safe from potential bad debt. Take the time to get in touch with us at XCELSIOR to discuss your various needs and requirements, and to get the loan application process started.
