FREQUENTLY ASKED QUESTIONS

We’re here to help

  • Is the service private?

    All loans are completely private and discreet, and by appointment only.

  • What documents do you require?

    For the application, we require, the original registration document (RC1), a copy of your ID, Proof of address (not older than three months). On approval proof of banking details would be required before payment.

  • What if I don’t have the original registration papers (Form RC1) of the vehicle?

    We need the original FORM RC1 and your ID in order for us to help you.

  • Do I need to be employed?

    No. You don't need to provide any proof of income.

  • How much can you loan against the vehicle?

    It depends on the age, condition, service history, mileage, and trade value.

  • I still owe the bank money on my car. Can I use it as collateral?

    No, it is not your property yet as the bank still has a financial interest.

  • I am not the legal owner of the car. Can I still use it as collateral for a loan?

    The legal owner needs to sign all documentation as they are the owner of the asset used as collateral. They can nominate where the funds are to be paid, which does not have to be the owner’s bank account.

  • How long does the whole process take?

    Less than an hour once we have all the documentation.

  • What is the minimum and maximum amount I can expect to receive from Asset Advance?

    We offer options from a minimum of R12 000 and a maximum of R 500 000.

  • How long is the option transaction term?

    The contract term is 30 days however the term automatically extends as per agreement until the final installment together with the capital amount is paid.

  • How is the money paid to me?

    You get paid via EFT transfer into your provided bank account with immediate clearance.

  • What happens if I cannot afford to pay on the due date?

    The vehicle will be sold and your debt would be considered settled.

  • Can I still drive the vehicle after getting the loan?

    You are allowed to still drive the vehicle provided that we fit a tracking device to your vehicle.

  • Are there safe storage facilities, if I don’t need to drive the vehicle?

    Yes, we do provide storage.