
Getting a loan against a car in Florida, Roodepoort is a smart way of leveraging an asset.
It doesn’t involve the disposal of the vehicle. Instead, it unlocks a percentage of its worth over the short-term.
A fully paid-up motor car has resale value. At LoanAgainst, we use an independent vehicle appraiser to determine how much we can offer to lend.
Key benefits of getting a loan against a car
Quick loan approvals
A loan against a car is based on the secured lending model. This type of funding solution has built-in risk mitigation in the form of collateral.
Loan applications are consequently approved within 24 hours or less.
No credit checks
The usual credit checks, bank statements, proof of income and employment records aren’t required to secure the loan.
Anyone who can demonstrate they’re the legitimate owner of a car, be it a sedan, SUV, bakkie or luxury vehicle, is essentially pre-approved for funding through LoanAgainst.
Only 3 basic conditions
In reality, there are only three provisos to getting a loan against a car in Florida, Roodepoort or anywhere else in South Africa.
- You must have the means to repay the borrowed funds, plus the accrued interest, in monthly instalments.
- The vehicle is debt-free and in good condition.
- The person applying for the loan is the registered owner of the car.
Limited risk
A vehicle-backed loan is designed to cover unforeseen expenses. It’s a financial safety net that is best used with caution.
If you default on the monthly instalments, and cannot repay the loan, the vehicle can be sold to offset the losses.
The practicalities of getting a loan against a car in Florida, Roodepoort
LoanAgainst is an online finance provider. Loan application forms are embedded in the website to facilitate the quick release of funds.
Once an application has been completed and submitted online, a three-step process is initiated to conclude a negotiated agreement.
Step 1: A LoanAgainst consultant assesses the application and offers a preliminary loan amount via email or over the phone.
Available funding is based on the information provided about the car – the make, model, age, mileage and condition.
Step 2: The vehicle is physically appraised at the LoanAgainst Florida branch in Roodepoort. A second, firm offer of funding is relayed to you, while you wait.
Step 3: The car, original vehicle registration papers and a copy of your ID and proof of address are handed over.
A contract is signed to formalise the agreement. The funds are electronically transferred into your bank account.
On completion of the loan repayments, the car is handed back to you.
Why get a loan against a car through LoanAgainst?
There are a number of reasons why you should get a loan against a car in Florida, Roodepoort through LoanAgainst:
- an online platform and a centralised call centre
- seven physical branches in four South African cities
- it’s a division of a registered financial services provider
- vehicles are insured, securely stored and off-limits to anyone
- annual percentage rates are fixed, and dependent upon repayment terms
- flexible and negotiable terms
- extendable loan periods, on request.
Get a loan against a car in Florida Roodeport today by applying to LoanAgainst.