What exactly is pawn my car and still drive it?
You might not have heard of it but Pawn your car and still drive it or Lend and Drive is the new way to loan against your car papers. Old methods have always required you leave your vehicle with the lending companies however at First Advance in Fourways you can keep it! This product which comes from overseas is now in South Africa and it has never made lending easier.
You can get a loan against your car, truck, boat, motorbike, earthmoving equipment and even your caravan. Get the easy way, forget pawning. Phone us now to see how you can lend money against your car and still drive it and unlock asset value.
How do I lend and drive?
Lend and Drive is so easy.
Phone us and speak to one of our helpful consultants at our branch in Fourways who will guide and explain the process to you. The consultant will then ask you to scan and send the following documents;
- Your latest vehicle registration papers
- Drivers license
- Pay slip if you have a job
- 6 months bank statements
- Proof of residence
- Pics of your vehicle
Once you get these through to us, we will process your application and set up a meeting at a time that is convenient to you. A consultant will meet you at one of our Tracker Installation shops in Fourways near you. The vehicle will be assessed, and a mechanical inspection will be done. Once the contract is signed and the loan amount is agreed upon, the vehicle will have a tracker fitted to it. Then it’s a matter of us paying you immediately and you driving away. Easy peasy!
The benefit of Lend and Drive
The benefits of a loan using the Lend and Drive model are huge! With conventional methods of asset lending one is always forced to leave your asset with the lending company. With First Advance’s lend and drive product you get the benefit of a cash injection and you get to use your car!
Where does this form of lending come from?
We would like to say we invented it, but alas it has been in existence for over 30 years in the UK and USA where it is called Logbook Lending or Title Lending. So, this is not some fly by night method of giving a loan. It has been tried and tested.
Is it safe to do Lend and Drive?
When one has to leave one’s vehicle with the loan company you can never be sure how it will be looked after. Being able to still keep your vehicle gives you complete peace of mind.
Taking a loan through First Advance
Taking a loan through First Advance on their Lend and Drive product is the answer to unlocking cash on your vehicle. Its fast, safe and easy. All you need to make sure is to pay your fees every month and when you choose to settle, we simply hand you back your vehicle’s title. Banks make lending very difficult, we at First Advance try and make your lending experience quick and easy. We may not be as cheap as they are, but we are able to help you when they won’t!