Pawn your car and still drive it or “Lend and Drive” is a fantastic way to unlock asset value in your vehicle. If your car is fully paid up, you can simply and quickly get a loan from us using your vehicle as security. And the beauty is unlike a pawn deal, you still get to have the use of your vehicle!
What is the Lend and Drive process?
Lend and Drive is a simple method of doing a loan using your car as security. In a couple of hours, we can have your cash paid out and you can still drive your vehicle.
First you contact us through our website or contact our Boksburg branch. One of our consultants will help you with all your questions.
You will provide us with the necessary documents and once we have checked these documents, one of our Boksburg consultants will set up a meeting with you to view your vehicle and verify the documents that you’ve sent us. Once this is done, we will do a mechanical inspection of the vehicle and install a tracker. You will then sign the contract and we will pay you out in cash or EFT.
And that’s all! You will happily drive away your vehicle and are able to settle your account at any time after one month without any penalties.
Easy as that!
What if I am not a SA citizen, can I still do a Lend and Drive deal?
Yes, you can. As long as you have a valid driver license and a bank account which can prove you can pay for our monthly fees, we can do a deal. The vehicle must also be in your name.
What documents do we need from you?
- Vehicle registration papers
- Drivers license
- 6 months bank statements
- Proof of residence
- Proof of income
- Photos of your car
What if I can’t pay my monthly fees?
We hope this never happens, however legally if you haven’t rectified the account within 3 working days, we have the right to recover our vehicle. The costs of the recovery are for your account. We then can hold your vehicle for another 10 days before we have the discretion to with it what we deem appropriate. In reality we will always try and help you. As long as you work with us and try and pay us something, we will try our best to keep the vehicle for you. And if you hand it over to us, we will try and keep it for as long as possible so you have more time to pay us our arrears.
Lend and Drive in South Africa is a safe way to access cash on your paid-up vehicle. We understand things in South Africa have been difficult and people need help with cash. The following things we are aware of; that family and friends are sometimes unable or unwilling to help The banks are only interested in A grade clients with fantastic credit ratings and that Pawning means you have to give up the use of your car.
So, at First Advance we offer a cash loan service that can help you unlock cash in your assets. Assets like your car, bakkie, motorcycle, boat, truck, farm equipment of earthmoving equipment. Please check out our website www.firstadvance.co.za, complete your details and a consultant from our Boksburg branch will contact you.