Borrow Against My Car in Cape Town

How can I borrow against my car in Cape Town – and what’s involved? If you’re wondering whether securing a loan against your vehicle is a suitable option, we can help. Below we outline what to consider.

If you’re ready to proceed, apply online now for a loan against your vehicle in Cape Town. We offer straightforward, transparent agreements with competitive rates – and have a branch on Strand Street, in the heart of Cape Town’s central business district.

Apply Now

How to borrow against my car in Cape Town

Borrowing against a car involves using the vehicle, which is a movable asset, as collateral for a loan. The lender will determine the loan amount to offer based on the market resale value of the vehicle.

This is a form of asset-based lending.

Because the vehicle secures the loan, there’s no need for a complex or time-consuming approval process. There’s also no need to base approval on proof of income, credit score or any other indirect “evidence” that the borrower will meet the agreement terms.

Avoiding scam pawn deals in Cape Town

Not all lenders in Cape Town are equally reputable. It pays to do a little homework and to trust to common sense, avoiding certain, obvious red flags.

Pawn and drive schemes

Pawn and drive schemes sound too good to be true because they are.

In South Africa, the National Credit Regular (NCR) has warned consumers against this type of car pawn scheme.

This kind of scheme typically involves signing over your ownership of your vehicle at the outset. Then you pay the lender “rent” (plus interest on the loan amount) so you can drive the car.

At the end of the loan period (or if you run late with even just a single payment), you risk losing your vehicle altogether. Too often, this is how “pawn and drive it” agreements conclude.

Other lenders may charge excessively high interest, exorbitant administration charges and collection costs.

Fly-by-night lenders

Be wary of lenders that:

  • don’t have physical offices
  • have dodgy-looking or unprofessional websites (or only Facebook pages or WhatsApp details)
  • appear hesitant to provide upfront information about total costs and any penalties
  • sound unprofessional on the phone
  • suggest meeting at a location you’re not familiar with.

It’s surprising how often victims of crime realise that they ignored their own instincts. If in any doubt at all, move on immediately.

Why use Pawn My Car

Pawn My Car specialises in loans against vehicles. We have many years of experience in this type of lending and take pride in our solid reputation.

Transparent and safe

We provide transparent and discreet loans for our clients with no undue risk. Our loans don’t affect your credit score and you don’t need to disclose your employment status.

Physical offices

We have multiple physical offices in major cities across South Africa, including a branch in central Cape Town.

Fast access to funds

Our loans are designed to give you fast access to funds. Once finalised, your loan will be transferred directly into your account via EFT.

No information sharing

Unlike banks and other lenders, we don’t share your information with credit bureaus or any other third parties.

Accredited lender

We’re a division of Lamna Financial Services, which is registered with both the National Credit Regulator (NCR) and Financial Services Board (FSB).

For more information about how to borrow against your car in Cape Town, call us on 0861 112 866 or WhatsApp 064 976 7106. You can also use our online form to start your application now.

Complete an application now

APR & Loan period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.


All accounts may be renewed if they are up to date.


All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.


Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

Repayment Period
Monthly Repayment
Total Cost of Loan
Monthly Fee
(Interest + Service Charge)
Loan Amount


Repayment Period

3 months

Monthly Repayment


Total Cost of Loan


Initiation Fee


Monthly Fee (Interest + Service Charge)




Want discreet finance?

We'll give you a loan against your vehicle in 4 easy steps.

Share to...