What is Pawn your car and still drive it?
Pawn your car and still drive it or Lend and Drive is a unique form of lending brought to you by First Advance. This type of loan has been used in the UK and America for the last 30 years. It relies on you the customer using a fully paid up vehicle as collateral and then using the vehicles title as security whilst still being able to keep it.
The vehicles you can use range from a car, truck, motorcycle, bakkie, boat to caravan or even earth moving equipment and farm vehicles. In fact, any vehicle that has a valid registration document that’s fully paid up. This means there can be no bank finance on the vehicle.
How do I apply?
Applying for the Lend and Drive loan is a phone call away. Either fill in our online form or give one of our Vereeniging consultants a call. They will run through everything you need to give us in order to qualify for the loan.
Here’s what you need to unlock asset value;
- 6 months bank statements
- copy of payslip of proof of income
- drivers license
- proof of where you live
- your vehicles registration document (NATIS)
- pictures of your vehicle
How do I benefit?
A normal pawn transaction involves the loan company taking possession of the vehicle or asset and paying the client his cash loan. The asset or vehicle is then returned to the client only once the loan is paid back by the client. The client has no control of where his asset is and has to trust the pawning company that his asset will be looked after and that it will in actual fact be returned to him when he pays back his loan. There are horror stories of clients never getting back their assets or getting assets back that have been used whilst they were in the pawn companies’ “safekeeping”.
Not only do you get your cash loan paid quickly and efficiently with our Lend and Drive loan, but you also get to carry on using your vehicle for the period of the loan. And when you pay back your loan you simply get your vehicle title papers back.
Lend and Drive is a great product for unlocking the cash value of your vehicles. It’s easy, discreet and most importantly allows you to still have the use of your vehicle. You can settle with us at any time after one month. We also don’t charge any early settlement penalties.
So, if you live in Vereeniging …. own a car, and need money fast, why not try us? We are helpful and efficient and always looking at trying to help with the unexpected cash flow problems we have in life.