Pawn Your Vehicle
If you need cash, you can use a fully paid-up vehicle in your name to secure an instant loan.
Because the vehicle serves as collateral, there are no credit checks, no excessive paperwork or invasive questioning and no lengthy approval process. You can expect to have the money you need in your account almost straight away – and once you’ve repaid the loan with the agreed interest, your vehicle will be returned to you. Types of vehicles you can use to secure loans include cars, lorries, trucks, caravans and motorcycles.
How to pawn a vehicle
To get a loan against your vehicle, simply contact us and tell us the vehicle’s make, model, year and mileage of your vehicle. Note that to qualify, the vehicle must be fully paid up and in your name.
Once we have the details, we’ll make you an offer straight away, over the phone. The value of the vehicle will determine the value of the loan we offer.
If you choose to proceed, we’ll arrange a meeting, where we’ll ask to see the original V5 Logbook, which must be in your name; your ID book; and proof of address. We’ll inspect the vehicle and, if all is in order, finalise the agreement.
Then we’ll transfer the funds to you straight away.
Once you’ve repaid the loan and interest, the vehicle will be safely returned to you.
Advantages of using a vehicle to get a loan
Using a vehicle title to get a loan isn’t the only way to secure funds. For example, you could approach a bank for a loan instead. However, using your vehicle or another valuable asset to secure a loan has important advantages.
The first is that a bad credit score won’t prevent you from getting the loan. Because the vehicle serves as collateral, your credit history isn’t relevant. It’s the value of the vehicle that secures the loan.
Similarly, we’re not interested in other factors that banks typically consider when deciding whether to approve a loan, such as your current salary, demographic profile and spending habits. These are your business, not ours.
The second key advantage is speed. If you need money fast, a bank loan may not meet your requirements. The average bank loan takes time and plenty of paperwork, all of which has to make it though a potentially lengthy approval process.
In the case of a short-term, asset-based loan on your vehicle, you’ll have access to the funds almost immediately.
- Our representative will call you
- Bring your vehicle in for a value confirmation
- Ensure the documentation is correct
- Read, complete and if happy, sign the agreement
- Funds are transferred into your bank account.
Contact us
Call us for more information on 0333 344 8507
APR & Loan Repayment Period
Average representative APR 68.3% and 6 months loan.
Renewals
If you wish to renew the loan at the end of the loan period, if we agree and pay you off the interest you can renew the contract immediately.
Collection
All payments are made via EFT or at the end of the loan period.
Representative APR 68.3%
REPRESENTATIVE EXAMPLE
AMOUNT OF CREDIT
DURATION OF AGREEMENT
RATE OF INTEREST
TOTAL AMOUNT REPAYABLE
AMOUNT OF CREDIT
£10,000
DURATION OF AGREEMENT
6 months
RATE OF INTEREST
60% (Fixed) P.A.
TOTAL AMOUNT REPAYABLE
£13,000 (In one instalment)