ASSET LENDING

Asset-Based Lending

If you’re in South Africa and need fast, flexible financing, asset-based lending might be the ideal solution for you. This type of loan allows you to use your owned assets as collateral to access much-needed funds. Whether you’re facing an unexpected expense, planning a business expansion, or dealing with a personal financial situation, asset-based finance offers a practical and efficient way to get cash when you need it most. At First Advance, we’re here to make the process of getting an asset loan as simple and hassle-free as possible.

We will do deals on vehicles, trucks from R5000 to R5million ($400 to $350 000). We offer loans in all of our neighbouring states.

You may also be interested in our other services; Lend & Drive, Property Lending, Bridge Finance Loans and Pawn my Truck.

 

What is Asset-Based Lending?

Asset-based lending, sometimes referred to as “Pawn” or “Title Pawn,” is a financing method where your assets are used to secure a loan. These assets can range from vehicles and trucks to caravans, trailers, farm machinery, motorbikes, boats, and even airplanes. Loans can start from as little as R5,000 and go up to R5 million, depending on the asset’s value.

This financing option is particularly useful for individuals or businesses needing quick cash without enduring the lengthy and restrictive processes associated with traditional bank loans. Because the loan is backed by your asset, there’s less emphasis on credit history, making it accessible even if your credit score isn’t perfect.

 

Assets We Accept

  1. Vehicles and Trucks: Whether it’s your personal car or a fleet of trucks, we’re equipped to provide loans that match their value.
  2. Caravans and Trailers: If you own a recreational vehicle or a utility trailer, these can be excellent assets to secure a loan.
  3. Farm Implements and Machinery: Farmers can use their valuable equipment to access funds for operational costs or expansion projects.
  4. Motorbikes: From everyday motorcycles to high-value collector bikes, we’ll provide loans based on their worth.
  5. Boats and Airplanes: While these high-value assets may require more time for valuation and storage arrangements, they can be a great source of financial flexibility.

 

How the Asset Loan Process Works

  1. Valuation: Bring your asset to us, and our experienced team will evaluate its worth. Factors like condition, age, and market demand will influence the valuation.
  2. Offer: Based on the asset’s value, we’ll propose an amount, usually between 50% and 70% of the asset’s worth.
  3. Agreement and Payment: Once you agree to the terms, we’ll complete the paperwork and transfer the funds to you quickly.
  4. Repayment: Repay the loan as per the agreed terms, and once it’s fully settled, your asset will be returned to you.

 

Why Choose Asset-Based Finance?

  • Fast Cash Access: Avoid the long approval times of traditional bank loans and get your money quickly.
  • Flexible Amounts: Borrow as little as R5,000 or as much as R5 million, depending on your needs and the value of your asset.
  • Credit-Friendly: Your credit score isn’t a major factor since the loan is secured by your asset.
  • Diverse Assets Accepted: We provide loans on a wide range of items, including vehicles, machinery, and high-value assets like boats or airplanes.
  • Safe and Professional: Your assets are stored securely and fully insured for the duration of the loan.

 

Why First Advance?

At First Advance, we’re committed to providing South Africans with reliable, stress-free asset-based lending solutions. We offer transparent processes, competitive valuations, and repayment terms that suit your situation. Whether you need a small amount for personal expenses or a substantial loan for business purposes, our team is ready to assist. Our team is here to answer any questions and guide you through every step of the process. Unlock the value of your assets and achieve your goals with confidence.

 

Loan Example

Loan Amount

Days to Repay

Monthly Interest

Fees

%

APR

Total Repayment

FAQs

Can I Pawn any vehicle?

Yes you can. As long as the vehicle is fully paid up and registered in your name.

What type of vehicle can I pawn?

You can pawn any type of vehicle, as long it is registered in your name. we have done deals for motorcycles, cars, caravans, bakkies, boats and trucks. Even farm vehicles eg. tractors and earthmoving equipment like front end loaders, excavators and dump trucks.

How do I Pawn my vehicle?

First, you send the details required on WhatsApp to get online approval. A consultant will then call you and set up a meeting to value your vehicle. At the meeting will present you with the amount of money he is prepared to lend to you. If you agree you will sign a contract. You will hand the vehicle’s keys over and the consultant will transfer the loan amount via EFT. The consultant will drive the vehicle to our safe storage facility.

What documents do I need to pawn my vehicle?

You need to provide
● Your ID
● Proof of address
● Original registration document
● Service book if you have
● Keys

Can I lend money against my boat in Maputo?

Yes you can. We will need to value the boat and confirm its ownership. We also will need to find safe a storage berth for it.

How do I Pawn my Caravan?

Similar to a car, you need to fill in our online form. A consultant will arrange a meeting to value the caravan and verify your documentation. If you are happy with the loan amount for the caravan you will sign a contract. The consultant will then arrange cash or an EFT to be paid to you. The consultant will then take the caravan away for safekeeping. When you have paid us our fees and our capital back we will return your caravan to you.

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