Loans Against Luxury Cars: A Timely Financial Solution for Vehicle Owners

Loans Against Luxury Cars: A Timely Financial Solution for Vehicle Owners

luxury cars

If you need a timely financial solution, you can get a loan against your luxury car.

A luxury car is a high-value asset that can be leveraged to generate capital for vehicle owners.

How to get a luxury car collateral loan

Pawn My Car specialises in providing short-term funding solutions backed by luxury vehicles.

Our loan application process consists of three steps.

  1. You give us a detailed description of your luxury car and the desired loan amount, either telephonically or online. Based on that information, we provide you with an initial estimate of how much we are prepared to lend you.
  1. If you accept the initial offer, we set a date and time for a vehicle appraisal inspection at the nearest Pawn My Car branch. Our appraisal team takes the make, model, condition and mileage of the car into account, together with the current resale value, to determine a fair and accurate market-related valuation.
  1. We offer a final loan amount based on that valuation. A contractual agreement is drawn up and signed by both parties. The funds are transferred into your bank account in exchange for the luxury vehicle, which is safely stored in a secure facility.

What are the qualifying criteria for a luxury car loan?

In order to qualify for a luxury car loan, the vehicle must not be financed and the loan applicant must be the registered title holder of the car.

The original registration certificate of the vehicle, a copy of the owner’s ID and proof of address are the only documents required to process a luxury car loan.

As the capital is secured by the vehicle, there’s no need for an affordability assessment or a credit check.

What counts as a luxury car?

Luxury cars are essentially vehicles that provide maximised levels of comfort and performance.

They’re fitted with the latest technology and safety features.

They have lavish interiors finished in high-end materials and are synonymous with wealth and status.

What are the most popular luxury car brands?

Audi, BMW, Mercedes-Benz and Jaguar are among a host of traditional automotive marques associated with luxury cars.

In more recent years, the luxury car market has expanded to include high-end brands produced by more mainstream car manufacturers, such as Lexus, Genesis, Infiniti and Volvo.

Does Pawn My Car only offer loans for luxury cars?

Pawn My Car offers loans on any vehicle, provided it’s fully paid up and has a reasonable resale value.

Advantages of car-backed collateral loans over other loan types

When you need funds to grow a business, improve cash flow or cover an unexpected medical bill, car-backed collateral loans have several key advantages.

Car loans by Pawn My Car are:

  • quick – funds are available within hours
  • discrete – no credit checks, affordability assessments or reports to credit bureaux
  • affordable – NCA-compliant interest rates
  • transparent – no hidden fees or early settlement penalties
  • flexible – terms vary from three to 12 months.

Pawn My Car

With Pawn My Car, we offer a timely financial solution for vehicle owners.

We don’t just offer loans against luxury cars. You can use a 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 086 172 9648 or simply complete and submit our online application form.

Complete an application now