1. What does the term – Pawn my car and still drive it mean?
Pawn your car and still drive it is an easy method of unlocking your cash on your car, truck, motorbike, boat, caravan, earthmoving equipment or farm vehicle. This fast and easy method of lending money is the solution to your cash flow problems.
2. How does the process work?
- Pawn and drive or Lend and drive is easy!
- Firstly, you need a fully paid up vehicle. Secondly you need to get hold of us and give us your vehicle and personal details.
- We need;
- Driver’s license
- Vehicle papers
- 6 months bank statements
- Proof of residence
- Proof of earnings or payslip
- We will then value your vehicle and see how much we can loan you.
- To conclude the deal, we need to meet you and see the vehicle.You then sign our contract and documents. We will then put a Tracking unit on the vehicle.
- Once that is done, we pay you out in cash or bank transfer.
- You keep using your vehicle and you get a loan! Nice and easy.
- Once you pay us back the loan, we hand you back your papers and transfer title back you.
3.What are the Benefits of pawning your car and still driving it?
The benefits of pawn your car and still drive it are numerous. The biggest is you get to use your vehicle! No more having to leave your asset as security. You keep it.
4. FAQ’s
Can you borrow money against your car?
Yes
What vehicles can I Pawn and Drive?
Any car, truck or motorbike. We also do caravans, boats, earthmoving equipment and Farm vehicles.
Can I Pawn and Drive a car that is financed?
No, unless the car is fully paid up and in your name you cannot Lend money from us.
How quickly can I get my cash?
If you bring all the specified documents we require and meet us at our designated tracker fitment centre we you can have your money in 2hours.
What dangers are there with this type of Lending?
This type of lending is expensive due to the high risk and cost of allowing you to drive your car. Although we are cheaper than most Pawn shops we recommend you use this Loan as a short term solution.
Can I settle this Loan at any time?
Yes you can settle at any time, however you must have taken the loan for a minimum of one month otherwise the costs of installing and removing the tracker are too expensive.
Article was sponsored by First Advance – South Africa’s leading asset lending company.
