Loan against car collateral
You can get a loan of up to LVL 15,000 against a car collateral in one day. Borrowing against a mortgage – get money, but keep driving your car. If you own a car that is less than 20 years old, fill out an online application and get credit for up to 90% of the value of the car. An assessment at parie-visual-art.com
Fill out the loan application
If your car is valued at $ 1000, you can borrow $ 900 or less for 1 to 60 months. Regardless of the loan amount and repayment term – you can continue to use your car during the loan repayment period.
Your car must have MTPL insurance to qualify for a mortgage loan. MTPL is a compulsory motor third party liability insurance. If you want to get a loan against a pledge over Ls 2000 then you will also need FABCOS insurance. FABCOS insurance is required until the end of the loan term. If you want to borrow more than $ 2000 and you do not have FABCOS insurance then Autocredit offers to do it for you.
In order to get a loan up to LVL 15,000 a vehicle must have passed a technical inspection. In order to receive a credit of up to $ 15,000, the vehicle must be validated for at least one more month.
You can get a loan against a car:
- Car with TA;
- Car with MTPL insurance;
- Car owner (must be registered in your name);
If your car is not TA (Motor Vehicle Inspection) and OCTA (Motor Third Party Liability Insurance) then you can do it because after receiving the loan – the car will stay with you and you can safely drive your car. Autocredit does not retain customers’ vehicles in order not to endanger their lives. In Autocredit’s view, a “mortgage loan” is only a guarantee.
Only a car owner can get a loan against a mortgage. The car can be registered with the company – this is not an obstacle to getting a loan against a car collateral. If your car is registered with the company, fill in the application form – enter the company name.
How much can I borrow?
Choose the loan amount and repayment term as needed. This can be a maximum of 90% of the value of your car. If you need less money then borrow less. You will be billed each month – by mail or e-mail. You will also receive an SMS reminder about the bill payment to the specified mobile phone. It should also be noted that the loan can be repaid more quickly and you can save money, as you will only have to pay interest for the actual life of the loan.
Who can not get a loan against a car collateral. You will not be able to get a mortgage loan if the car is purchased on a lease. You can apply for a mortgage loan if the lease term is short. This means that there is a possibility to get a loan if the car is purchased through leasing.