FAQ on Loan Against Car Johannesburg
Loan Against Car Johannesburg Frequently Asked Questions.
How do I qualify for a loan against my car?
You qualify for a loan against your car if you meet the following conditions:
- Older than 18 years
- Own the car
- Stable income checked through latest bank statements
- Verifiable personal identification documents
What if I have bad credit history?
Fortunately we don’t check for credit records and history, we do an affordability check which will help us determine how much we are willing to loan you for your car.
Why don’t you do credit checks?
Credit checks are simply not important for our business because we only need to know that you can make your monthly loan repayments and you car acts as security for the loan we give you.
What happens if I can’t pay back my loan?
In the unfortunate case that you cannot pay back the loan, we will use your car to get the cash we loaned you. This is not part of the way we do business, we advice all our customers to ensure that they can make payments to avoid losing their cars.
Can I take a loan on behalf of somebody else?
No, you can get a loan against a car that does not belong to you. Even if the owner of the car does not mind. We require the owner of the car to apply for a loan because we want to avoid as many problems as possible.