We provide asset-based loans and our loans range from thousands of rands up to millions.
Loan amounts depends on the assessed value of the assets provided as collateral for the loan.
We offer loans against cars, trucks, trailers, bakkies, caravans, earthmoving equipment and more. All assets must be fully paid for and registered in the loan applicant's name.
We will remain full owner of the asset until loan amount and interest is paid in full, our interest rates are charged monthly and will differ from customer to customer based on a few aspects like loan amount and client profile.
We do not do credit checks as the loan amount is asset-based.
Should lender not be able to pay back the loan amount and interest the asset will be moved to sales department.
Documents needed, proof of ownership, vehicles registration document, id, proof of residence, proof of banking details
Minimum loan repayment period is 61 days. Maximum load repayment period is 6 months.
Our minimum interest rate is 5% on R100 000 (Ts&Cs Apply). Special interest rates are based on collateral value.
Here's an example of a Total Cost Of Loan Calculation: Loan Amount = R100 000 Interest Rate = 5% Total Cost Of Loan = R105 000
Warranties, undertaking and authorizations: (Declaration)
The borrower declares that he/she is the legal owner of the asset/s, that the asset/s are fully paid and that no other legal entity or person has any right, title or interest in the asset/s. the borrower further declares that he/she is legally entitled to deal freely with the asset/s.
The borrower CONFIRMS that the lender, may in the event of the borrower not repaying the debt on or before the due date, and or expiry of the due date and without recourse to the judiciary, to sell the asset/s by any means, as deemed fit by the lender and to apply the proceeds of such sale in FULL and final settlement of the borrower's indebtedness to the lender.