LEND & DRIVE
Loan Against your Car and Still Drive it Gauteng
Are you in need of cash but can’t afford to be without your car? With First Advance’s lend and drive feature, you can loan against your car and still drive it.
This type of Loan is extremely risky to us the lender. The reason for this is we are giving our surety back to the person to who we gave the loan. Unlike loan or lend and park we are potentially exposed to the risk of the client selling the vehicle or hiding the vehicle and not paying us. It also could depreciate the vehicle tremendously if the client does not look after the vehicle and drives it roughly or doesn’t look after it and maintain it properly.
This is a product that my ex-partner and I brought out from the UK and USA for the first time to South Africa. In those countries, it’s called Logbook lending or Title Lending. You may also be interested in our other services; loans against assets south africa, cash for your property, and bridge finance loans
What does it mean to Loan Against Car and Still Drive it?
At First Advance, it means exactly what it says. You receive instant cash based on the value of your car, but you keep driving it. Whether it’s a car, motorbike, bakkie, truck, caravan or even earthmoving equipment, you carry on using it throughout the loan period.
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Why choose First Advance’s lend and drive option?
✅ Keep driving your vehicle
Unlike conventional pawn and park choices, our lend and drive service lets you keep using your car while the loan repayment is under progress.
✅ Get fast cash in 24 hours
Need quick money for an emergency? We approve loans fast most of the time, and you usually can have the money in your account on the same day.
✅ Flexible loan terms
We can adjust the loan terms to meet your requirements, whether they are for a shorter period of time or involve lengthier repayment periods.
✅ No credit checks
The collateral you have is your vehicle. Proof of ownership and a valid driver’s license are the only requirements; we do not conduct credit checks.
How Can I Loan Against My Car and Still Drive it Pretoria?
| Step | Description |
|---|---|
| Apply online or via phone | Just fill out a quick application form or call us directly. |
| Vehicle evaluation | We assess your vehicle’s condition and market value. |
| Sign the agreement | You hand over the title, not the vehicle. You keep driving it. |
| Get paid | We transfer the money to your bank account, often on the same day. |
| Repay and regain title | Once your loan is settled, the title is returned to you. |
What kind of vehicles qualify?
We accept a wide range of assets, including:
🚗 Cars
🏍️ Motorcycles
🚚 Trucks
🛻 Bakkies
🚐 Caravans
🏗️ Earthmoving equipment
Generally speaking, you should be able to qualify if the car is in your name, is roadworthy, and either completely or almost paid off.
The reasons why this product is unmatched in South Africa
This isn’t your typical loan. Having seen this product’s success in the UK and USA, where it is known as logbook lending or title loans, we brought it to South Africa. We were among the pioneers at locally introducing this flexible and customer-friendly service concept. While this loan comes with higher risks for us as lenders, we believe in giving our clients the breathing room they need, without forcing them to give up their vehicles.
Apply to loan against your car and still drive it Pretoria
Do you need a loan and want to keep driving your car? Apply now and get the cash you need without losing your ride.
Loan Example
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Days to Repay
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Fees
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APR
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FAQs
How do I Qualify for Lend and drive?
Lend and Drive is a risky model for us. We need to be certain you can pay your fees every month. This is why we have to conduct a full audit of your income and expenses to make sure you can afford to do this deal. We also check your bank statement to make sure it shows affordability. We install a tracking device into your car so we can monitor the safety of your car and so we can see where it is if we have to repossess it due to non payment.
What do you need to qualify?
- ID book
- Original vehicle registration paper
- Proof of earnings or Salary slip
- 6 months bank statements
- Proof of residence
- Drivers license
What vehicles can I use for the Lend and Drive?
You can use any car, truck, caravan or motorbike. The vehicle must be completely paid up. You or your company must be the rightful owners.
How does the process work?
Firstly, you would contact us and one of our consultants will take you through what you need to bring. We would then meet you at our offices or at a place of your convenience to assess and value your vehicle. We would then tell you how much we can loan you. If you are happy with everything you will sign the contract. We will then arrange that a tracker is fitted to your vehicle. Once this is done we will pay you via eft, or cash if you want. It’s so easy it can be done in a morning!
When you want to settle the loan, you simply pay us the capital amount and our interest. We remove the trackers and give you your registration papers back.
How do I qualify for Lend and drive?
For this type of loan, we have to assess your financial position carefully. This is a high-risk deal for us the Lender. We will check your bank statements to make sure you can afford the monthly repayments.
You also must own your vehicle completely in your own name or be able to get all your directors in your company to agree to the loan. The vehicle must be unencumbered i.e. it must not be owned by the bank or any other entity.
What does it cost?
The interest on the loan is 24% pa plus the extra costs which we will discuss fully with you before you do the deal. These include tracker installation, vehicle title registration, insurance, warranty on the vehicle and surveillance. Please note these extra costs do make the deal expensive.
How long is the loan for?
The loan is typically for one year however you have the choice to settle the loan after your first month or at any time thereafter.
Where in South Africa can I loan against car and still drive it?
Right here at First Advance. We offer loans against your car while you keep driving it.
Can I borrow money using my car without giving it up?
Absolutely. With First Advance’s lend and drive product, you keep your car and get the cash you need.
