Instant funds, hassle-free process, complete confidentiality? We know – pawning your car for cash sounds like the perfect short-term solution. And it is! But before you rush over to our contact form, it’s a good idea to make sure you read the following three things before deciding to pawn your car. This will help you determine whether you qualify for an asset loan and have everything in order so there won’t be delays in getting your cash.
Make sure you own your car outright.
As long as you have no outstanding debt on the car, and you are the legal owner of the car, you can pawn your car for cash. You can’t pawn your car title and keep your car. When you take the loan against your car, The Loan Company will put your car into our safe and secure storage facilities. Once the cash loan against your car has been paid back in full, you will receive your car, your keys, and your car title back.
The Loan Company uses primarily the following paid up vehicle assets as surety for your loan:
Make sure you have all the required documentation.
It may surprise you just how easy it is to pawn your car! Once you give us a call or complete our contact form, your asset can be approved and paid out within the hour! We’ll take care of all the big details, but it’s important for you to provide us with the following first:
- Driver’s license
- Proof of address
- Original registration document
- Service book
Make sure you are comfortable with the loan repayment plan.
Once you have decided to pawn your car with The Loan Company, we will determine the value of your car and, based on this valuation, you will be given an amount you can qualify for. Some things you should know:
- We offer flexible repayment schedules to suit your pocket.
- You can get a loan from as little as R5,000 up to R500,000 against your car.
- The loan and the interest can be paid back in 61 – 90 Days.
- The loan will be offered at an Annual Percentage Rate (APR) of 36% – 60% and a Monthly Interest Rate of 5%
- You have every right to settle your account prior to the contract end date, without any penalties being imposed.