Anyone who wants to get a loan against a luxury watch in Durban can get quick access to cash with LoanAgainst.
Our loans are based on the value of your luxury watch, not your income or credit score.
You can get a fast, discreet and low-risk loan in a matter of hours with LoanAgainst.
In this article, we look at:
- luxury watches that qualify for a loan
- how an asset-based loan works
- how the value of the watch is determined
- how to qualify for a loan against a luxury watch
- where to get a loan against a luxury watch in Durban.
Luxury watches you can use to get a loan
Luxury watches are very much in demand and form a stable part of many people’s investment portfolio.
Unlike traditional loans that are based on your income or credit score, loans against luxury watches are based on the resale value of the watch.
This means many luxury watches can be used to secure a loan. Popular brands include Rolex, Patek Philippe, Tag Heuer, Chopard, Vacheron Constantin, Jaeger-LeCoultre, Omega, Audemars Piguet and Blancpain.
If you’re unsure of the current value of your luxury watch, you can have it appraised. This makes it more likely you’ll qualify for a loan.
How loans against a luxury watch work
At LoanAgainst, we offer short-term loans based on the value of an asset such as a luxury watch. The asset is what secures the loan, which is why it’s called an asset-based loan.
We take temporary possession of the watch for the duration of the loan. Once the loan is repaid, the watch is returned to you.
The loan doesn’t affect your ownership of the watch and it doesn’t register on your credit history.
What determines the value of a luxury watch
Apart from the make and model, the value of your luxury watch is determined by age and rarity.
The current resale value plays a role, which is why it’s a good idea to have it appraised to get an accurate value. Watches with damage or malfunctions will lose value.
An original box and papers, as well as any historical ownership information, add value.
How to get a loan against a luxury watch
The first step is to complete an online application and provide us with as much information about your luxury watch as possible.
Based on this information, you’ll be offered a preliminary loan amount. If you’re happy with this, we proceed with final appraisal and the loan amount is confirmed.
You’ll need to provide proof of ownership for the watch, such as an invoice, and a copy of your ID. We’ll also need proof of address.
Once the loan agreement is signed and finalised, the loan amount is deposited directly into your bank account within 24 hours.
Get a loan against a luxury watch in Durban with LoanAgainst
LoanAgainst is a reputable financial services provider with competitive interest rates that comply with National Credit Regulations. At LoanAgainst, you can expect:
- loan approval and pay-out within 24 hours
- no hidden charges or penalties
- no impact on your credit score
- fast and discreet application process.
We have branches across South Africa that offer loans against a range of assets.
When you raise cash against a watch through LoanAgainst, you’re assured of competitive interest rates, transparent terms and flexible repayment periods.
We offer market-related loans against assets, with no hidden fees or early settlement penalties.
For more information about getting a loan against a luxury watch, simply complete and submit our online application form.