Loan Against a Toyota Hilux or Toyota Fortuner
Pawn My Car offers competitive loans against fully owned Toyota Hilux and Toyota Fortuner bakkies, as well as other Toyota models – including SUVs, cars and trucks.
How and where to get a loan against a Toyota vehicle
As an owner of a debt-free Toyota Hilux or Fortuner, you can leverage the equity in the vehicle without parting with it permanently.
At Pawn My Car, we accept new model Toyotas as security. We also consider older vehicles, providing they meet our criteria.
We initially base the capital loan amount on the Toyota’s current resale value, according to the details provided over the phone or via our online loan application form.
This is followed by a physical vehicle appraisal at the nearest Pawn My Car branch. If all is in order, a formal offer of financing is made to you.
If you wish to proceed, a loan agreement is drawn up and signed. The funds are transferred into your account, usually within 24 hours.
The Toyota is handed over for safe storage until the capital, plus interest, is paid back in full.
Vehicle-backed loans are processed at Pawn My Car branches in:
- Cape Town
- Brackenfell
- Port Elizabeth
- Durban
- Sandton, Johannesburg.
Services are provided by appointment only. Consultants are available during normal office hours.
Popularity of Toyota bakkies in South Africa
The Toyota Hilux regularly tops the list of SA’s best-selling new vehicles. When it comes to the pre-owned vehicle market, the Toyota marque is very desirable. Both the Hilux and Toyota Fortuner are among the top 10 most popular second-hand cars in South Africa.
What documents you need
We require the Toyota’s original registration certificate, along with a copy of the registered owner’s ID and proof of residence.
When pawning a Toyota Hilux or Fortuner makes sense
Pawning a Toyota bakkie, SUV or sedan is a quick, easy and discreet way to raise finance over the short-term.
It’s the answer to cash-flow issues or when your monthly budget is stretched to the limit.
If you need to cover unforeseen expenses, pay for a holiday or a surprise family event, it makes sense to generate short-term liquidity through Pawn My Car.
Vehicles bearing the Toyota marque are high-value assets. They can be used to secure loans now and into the future.
Instead of getting a one-off payment for the sale of the car, you can exploit its value as loan collateral.
Lastly, the pawn-a-car process isn’t bogged down by paperwork. We don’t request bank statements, credit reports or proof of income of any kind. Nor do we submit any information to credit agencies.
The entire transaction is strictly confidential. It has no impact on your financial record or credit score.
How a loan against a Toyota Hilux or Toyota Fortuner works at Pawn My Car
The Pawn My Car loan application process is straightforward. Call us, give us the model, mileage and condition of the Hilux or Fortuner, and we’ll make you an offer immediately.
Then you bring the vehicle into a Pawn My Car branch in your area, together with the supporting documents. We’ll appraise the car and formalise matters in a standard loan agreement.
The Toyota is retained as security for the loan and the funds are available on the same day. It’s the quickest, easiest and most convenient way to raise capital.
Pawn My Car
With Pawn My Car, as well as a loan against a Toyota Hilux or Toyota Fortuner, you can use any car, bakkie, truck or boat that’s in your name to secure a loan quickly and easily, with no delays or laborious paperwork.
For more information, contact us on 0861 112 866 or simply complete and submit our online application form.
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.
Renewals
All accounts may be renewed if they are up to date.
Collection
All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.
Non-payment
Non-payments may result in the matters being escalated.
Illustrative example
Client borrows R10,000 for 90 days.
Loan
Amount
Repayment Period
Monthly Repayment
Total Cost of Loan
Initiation
Fee
Monthly Fee
(Interest + Service Charge)
APR
Loan Amount
R10,000
Repayment Period
3 months
Monthly Repayment
R560
Total Cost of Loan
R12,370
Initiation Fee
R1,000
Monthly Fee (Interest + Service Charge)
R650
APR
60%