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How to get a loan against your car

Arrow icons.
  • pawn my car
    Prepare at home
  • pawn my car
    Have your documents
  • pawn my car
    Sign docs - funds are paid
  • car
    Settle loan & get car back

Maximise your loan value

  • Have your service record handy
  • Ensure the tyres are in good shape
  • Ensure your spare tyre and jack is with the vehicle
  • Ensure you have your spare key
  • Ensure your licence is up to date.

How to pawn your car

Prepare At Home

  • Your car must be fully paid
  • The owner of the car must apply for the loan and sign the agreements
  • Submit information on-line or phone our call centre.

Have Your Documents

  • Copy of your ID and proof of residence
  • Original registration certificate of the vehicle
  • If the vehicle is in the name a company, we can still assist – contact us for what is required.

Come To Our Office

  • Bring the documents and the vehicle for final evaluation
  • Read, complete and if happy, sign the loan agreement
  • Car is stored in a secure and fully insured facility
  • A transfer is made to you electronically.

Get Your Car Back

  • Pay the monthly charge as per the agreement
  • Pay the capital back as per the agreement
  • Once money reflects in our account, collect your car and related documents.
Start your application

Call us for more information on 0861 112 866

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%