Loan Against Business Vehicles in Sandton

Loan Against Business Vehicles in Sandton
December 13, 2022 gnuworld
loan against business vehicles in Sandton

A vehicle-backed loan is a safe way to convert a business asset into cash.

It improves short-term liquidity without compromising the venture’s ownership of the car, truck, bakkie or van.

LoanAgainst offers loans against paid-up business vehicles in Sandton and other major commercial centres across South Africa. Applications are approved within 24 hours.

Loan against business vehicles: how it works

Any business in and around Sandton – a sole proprietorship, partnership or Pty Limited company – can apply for a secured loan through LoanAgainst.

An application, containing the details of the vehicle or fleet of vehicles, is submitted online or over the phone.

A consultant contacts the business with a no-obligation funding proposal.

The vehicle(s) is inspected at the LoanAgainst Sandton branch. An agreement is drawn up and signed.

The pick-up truck, panel van or company car is handed over to LoanAgainst, along with the original registration papers.

Funds are transferred into the business entity’s bank account.

Once the loan is repaid in full, the vehicles are returned to the business.

What’s required to qualify for a loan against business vehicles?

At LoanAgainst, we don’t carry out credit checks or request business financials. As long as vehicles are in good condition, applications are automatically approved.

Required documents are:

  • the vehicle’s registration papers in the applicant’s or company’s name
  • a copy of the applicant’s ID
  • proof of address.

How much can a business borrow against one or more vehicles?

Available funding is based on the resale value of business vehicles on the pre-owned market.

Independent appraisal experts evaluate the vehicles to determine fair market value.

To date, LoanAgainst has processed asset-based loans of R10 million and more.

Why get a loan against business vehicles through LoanAgainst?

LoanAgainst is a division of an authorised and regulated finance provider. We operate branches in Johannesburg, Cape Town, Durban and Gqeberha (PE).

Funding transactions are completely confidential and have no impact on credit rating.

While in our care, business vehicles are insured and safely stored. No-one has access to them. They are returned in the same condition they were left in.

Repayment terms are flexible and the fee structure is completely transparent. We don’t penalise early settlement of loans.

Unlock liquidity in your business by applying for a loan against business vehicles in Sandton today.

If you’re looking for a market-related loan against any luxury asset, call us on 079 726 4690 or simply apply online.