Getting a Loan Against a Bakkie in Cape Town

Getting a Loan Against a Bakkie in Cape Town

loan against bakkie

You might be interested in a loan against a bakkie in Cape Town for any number of reasons.

For example, perhaps your business is experiencing a cash-flow crisis while it waits for key accounts to be settled, or you need extra funds to take advantage of a business opportunity. Or you might need money to cover emergency medical or dental costs, or other unforeseen expenses.

Getting a loan against a bakkie is a quick, discreet and straightforward way to access funds. It doesn’t put your other assets or your credit rating at risk – and it means you can draw on the value of your bakkie, without having to sell it.

Instant access to emergency funds

One of the key benefits of using a moveable asset, like a bakkie, truck, car or motorbike, as security for a loan is the funds are available almost immediately. At Pawn My Car, we process loan applications while you wait.

By capitalising your bakkie, you could get funds to pay for equipment or inventory for a small business. Or you might use the loan to cover unexpected home maintenance costs, school fees or any other expenses you need to cover.

There are no restrictions on how you spend the borrowed money.

Anyone who owns a fully paid-up bakkie that is in good condition is eligible for a vehicle-backed loan from Pawn My Car.

How to get a loan against a bakkie in Cape Town

At Pawn My Car, we’ve made it as easy as possible to borrow money against a bakkie – or any other well-maintained vehicle that’s registered to the person applying for the loan.

All you have to do is complete our online application form, and we’ll contact you to set up an appointment to have your bakkie appraised at our conveniently located branches in the Cape Town CBD, Brackenfell, or Heathfield.

Alternatively, you can call one of our Cape Town branches, and a consultant will fill you in on how the process works, and what documents are required to support the loan.

Once we’ve determined the market value of your bakkie, we’ll offer you the amount of money we’re prepared to extend to you in the form of a short-term loan. The appraised value is based on the vehicle’s make, model, age, mileage, service history and general condition.

On signature of the loan agreement, and once you’ve handed the bakkie over for safekeeping, the funds are electronically transferred into your bank account.

Why consider a vehicle-backed personal or business loan

A vehicle-backed loan is a type of secured loan, where the risk to the lender is offset by the value of the collateral. Your payment history, employment record and credit score aren’t relevant and we don’t require proof of income.

Usually, you can expect to have access to the funds within 24 hours of applying for a loan against your bakkie.

Unlike certain pawn-and-drive schemes, we don’t take ownership of your vehicle during the loan term. We store it in a secure lock-up facility, with tight access control – and nobody else drives it.

Once you repay the loan amount and agreed interest, your bakkie is returned to you, in the same condition you left it.

With Pawn My Car, you can get a loan against a bakkie in Cape Town quickly and easily, from our branch on Strand Street. For more information, contact us on 086 172 9648 or simply complete and submit our online application form.

Complete an application now