Borrow Against Your Car

If you own a luxury sports or vintage car and wish to get a loan secured against it then our asset loan experts can help. The value of your car can be quickly assessed and a loan arranged on the same day. There are no credit checks or minimum income requirements.

 

5 facts you should know about loans secured against luxury cars

If you need money at short notice, and can’t arrange an overdraft or loan with your bank, then you may consider offering up some of your personal assets as collateral against a loan. You can raise the capital you need with a range of items, including watches, antiques and wines, but you can also do so through pledging your luxury or sports car. This can raise the money you need for a short-term loan, and is a good way of encouraging the loan company to invest money in you. There are several reasons why you should explore securing your loan against a luxury car.

Luxury high end and sports cars are easy to value

Borrow money against your luxury car

Borrow money against your luxury car

The biggest benefit of using a luxury car as collateral is that it can be appraised easily, and its value should be clear to the company and to yourself before any agreement is made. If you have a modern luxury car, sports car or vintage vechicle then you will probably already know the current value of the car or have a rough idea of what it is worth. If it is a classic, then the loan company will be able to have it valued by their auctioneering associates, so you should be able to get a good amount of money loaned against your vehicle regardless of it’s age.

Luxury cars aren’t essential for transport

Another advantage to offering your car as collateral on a loan is that they are not usually required for transportation around a city or to and from work. They often function as weekend or second cars. This means that you should be able to offer it up as collateral on the loan without being deprived of a way to get to work or to travel around. This means that the car is not inconveniencing you, but has helped you to secure a loan until you are able to repay what you owe.

Luxury sports, and vintage cars are good collateral

Apply for a asset loan against your car

Apply for a asset loan against your car

Many loan companies are willing to accept a luxury car as a personal asset because they are so valuable. Even if they give you a percentage of the value of the car in the form of the loan, they are still holding an asset which is worth considerably more. Either you repay the loan and interest, and claim back the car, or you fail to pay and the company keep the car – either way the luxury car loan is a good deal for the lenders.

You can get a good loan from the car

When you need a lot of money in an emergency, a luxury car can help you more than other forms of private asset, such as watches or antiques. A luxury car is usually worth tens of thousands of pounds, and even when the company offers you a small percentage of that, you are likely to get back a significant amount of money as the loan.

You get to recover the car

Unlike other ways of raising money on a car, such as selling it, with a personal asset loan you can have the money when you need it in an emergency, and still get to keep the car once you pay back the loan.

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