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  • Writer's pictureLoan On Cars

Loan Against Car Papers

Updated: Mar 10, 2022


Do you need cash against your car papers?

If you need cash to meet your immediate financial needs, then one way to go about it is by taking a loan against your car.


One of the reasons why you may need immediate short term cash flow is to cover the cost of an emergency such as travel or a medical expense. Alternatively, you may need to pay for a wedding in the family or support some member of your family who is studying and needs financial assistance.


You may need working capital for your business for inventory or to meet an unanticipated expense, such as replacing a machine. Whatever the reason is for needing cash, getting a loan on your car can help you get it quickly and easily.




Why it may be hard to get a short loan from a bank?

Many banks are hesitant to make short term loans because they are concerned that you may not be able to repay them. The Credit Act in South Africa requires banks to take into account your repayment ability when providing you with credit. This means that you may not be able to meet their requirements.


If you have a job, but do not have enough credit history, then you may have a tough time getting a loan from a bank. You will have to wait until you have a credit history for banks to be willing to make short term loans available to you.


If you have a job and a good credit history, then you may still not be able to get a loan from a bank if your monthly income is low. This is because banks tend to look at your gross monthly income when making decisions regarding your ability to repay the loan.


If you are a business owner it is even more difficult to get a loan from a bank because you will have to prove that you are operating a sustainable business and the bank will want proof of your financials over a certain time frame.


Another problem is if you have debt, such as credit cards and bonds, and you need a short term loan from a bank, then they may not be willing to make it available to you if they feel that you might use the money to repay the previous debt instead of using it for other purposes such as payment for an emergency.



Pawning a car in South Africa

Pawning a car or getting a loan on a car is an alternative option for getting access to short term cash when you need it most. Unlike taking out a loan from a bank, with pawning your vehicle, you can get quick cash.


Can I pawn my car?

You can get the title of your car and then use it as collateral security for a loan. In some cases, it is possible to even get a loan within minutes if you go with a company like www.loanoncars.co.za.


Can I get loans for my car in South Africa?

Yes, you can get a loan against your vehicle. All you have to do is bring along your fully paid up car and the title of the vehicle to a company like www.loanoncars.co.za. They will calculate your loan amount based on the valuation of your car as well as the present condition of the car.




What are the benefits of getting a loan against your car?

There are many benefits associated with taking out a loan against your car. One of the benefits is that you can get quick access to cash without having to wait for a bank's approval for a loan. You can get the money you need in your account within minutes if you pawn your car with www.loanoncars.co.co.za


Can I pawn my car and still drive it?

It all depends on the company you go to some companies like www.loanoncars.co.za will allow you to pawn your car and get a loan against it and still drive it.


Pawning your car and still drive it is a significant benefit for you because it means that you don't have to walk or take public transport. It also makes life much easier for you when you need to go to work or when going to pick up children from school.


We understand that people need their cars and vehicles. That is why we do not take your cars away through the process of taking loans against vehicles. We know that you still need to drive your cars or vehicles. That is why, when you pawn your car for cash, you are still able to drive it until the money that has been taken against it is fully paid back.


Another reason why the pawn and drive option is a fantastic option to get cash is because of matrimonial harmony reasons. You may need cash against the value of your vehicle but you don't want to tell your spouse. You can now get the full loan amount, pawn your car and your spouse will not have to find out.




Can I get a loan against my car with bad credit?

Yes, you can get a loan even if you have a bad credit score. That is why it is not necessary for you to have a perfect credit score or a squeaky clean profile before getting a loan against your car. Loaning a car with a low credit score is also an advantage for those who have been refused loans from banks. This means that you will not be discriminated against by financial institutions because of poor credit ratings.


What type of cars can I pawn and drive?

The cars you can pawn and drive depend on the company that you go to some companies will not allow you to get loans against certain types of cars especially when they are in low condition. Before you take out a loan, it is important for you to consider the type of car you have so that they can give an accurate quote on its value.




Can I get a loan on my car if it's not paid off?

Unfortunately, www.loanoncars.co.za will not give you a loan on your car or cash against your vehicle unless the loan on your car is paid off.


How much is the loan can I get against my car?

The amount you can get as a loan against your car depends on the type of car you have, its value and whether it is in good condition or not.


How long does it take to get a pawn a fully paid up car?

With www.loanoncars.co.za it only takes a few minutes to get a loan against your car. The loan amount will be in your account within minutes after the loan is approved.




What is a Car Title?

A car title is a unique document that provides proof of ownership for a vehicle. It contains information, such as names and addresses of owners, previous prices paid for the vehicle, make and model of the car or truck, type of license plate issued for that vehicle and VIN number (vehicle identification number).


How it works?

The process to get cash on the value of your car is quick and simple.

  1. Bring in your car to www.loanoncars.co.za.

  2. You must provide a Valid South Africa Identification or Traffic Registrar ID Document

  3. You must have the original RC1 car ownership papers. You must have the vehicle's registration document

  4. The car must be registered in your name (both owner and title). You must have the original vehicle documents.

  5. You must have recent proof of address not older than 3 months.

  6. You need a Valid RSA Drivers License

Once your loan has been approved, you will be given an amount that you can use to cover an emergency or any other expenses that you may have. Once the money has been paid back in full, then we return your car title.



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