Rising interest rates, an unreliable power supply and skyrocketing inflation are making South Africans poorer.
Fortunately, there’s an easy way to liquidate personal assets like a Rolex, Breitling or Vacheron Constantin watch.
LoanAgainst offers instant cash loans against luxury watches in Gqeberha (Port Elizabeth). Repayment terms are flexible and funds are available within 24 hours.
The key benefit of getting a loan against a luxury watch in Gqeberha is you get to retain ownership of a treasured item while unlocking a percentage of the appraised value.
Loan against a luxury watch: how it works
Any personal item with a robust resale value can be used to secure a short-term loan – a car, yacht, piece of jewellery, original artwork or timepiece by a luxury brand.
At LoanAgainst, we appraise the watch’s value in two ways:
- comparing current prices of similar watches reached at auctions and in private sales
- physically assessing the watch at the LoanAgainst Gqeberha branch.
We then offer to advance a capital amount commensurate with a percentage of the fairly determined resale price. There is no obligation to accept the offer.
If the available loan amount meets your expectations, the watch is turned over to us. The funds are transferred into your bank account.
While in our safe custody, luxury items are insured, stored in a high security vault and are off-limits to everyone.
On completion of the loan repayments, the watch is returned to you. It can be used as collateral again in the future.
What is required to unlock a loan against a luxury watch in Gqeberha?
A loan of this type is secured by the luxury watch. The risk to the finance provider is consequently low, and the usual qualifying criteria, typical of a bank, don’t apply.
Bank statements, proof of income or a letter confirming you’re gainfully employed are not required to support a loan from LoanAgainst.
Similarly, we don’t conduct credit checks or review the applicant’s debt status.
What we do need is a copy of your ID and proof of residence. Also, the watch must be paid for in full. It must be in good condition and owned by the person applying for the loan.
Tips for streamlining the process of getting a loan against a luxury watch
You can expedite the release of funds into your account by providing the LoanAgainst Gqeberha branch with:
- proof of ownership
- the watch’s provenance
- the original box or packaging
- an independent valuation by a reputable jeweller or watchmaker.
When a loan against a luxury watch is a good idea
Asset-based loans are ideal for raising funds over the short-term. They’re designed to cover unexpected expenses – surge-damaged electronics and devices, power packs, back-up batteries, medical and dental co-payments, and roof or vehicle repairs.
A reliable source of income is required to pay back the loan.
Failure to settle the debt results in the sale of the watch. The proceeds of the sale are used to cover the losses incurred by the finance provider.
If you don’t pay back the loan within the allotted time, you can expect to lose the watch on a permanent basis.
Why LoanAgainst Gqeberha?
LoanAgainst specialises in providing short-term asset-based loans to individuals and businesses.
We offer:
- competitive interest rates
- same-day approvals
- flexible repayment terms
- branches in multiple South African cities.
If you need a quick loan against a luxury watch in Gqeberha, call us on 079 726 4690 for more information or simply complete and submit our online loan application.
