At Lamna, we offer asset-based loans against cars in Johannesburg. These loans are based on the value of a paid-off asset such as a car or other vehicle.
These loans are quick and discreet because they don’t take income or credit scores into account. They’re based only on the value of the asset.
The loan amount is based on the resale value of your asset. This means the loan amount can vary greatly. Most loans are in the R10,000 to R100,000 range, but we have approved loans for R10 million and, very occasionally, more.
To get the most out of your loan, you need to use an asset with the most value. For a vehicle, it helps to make sure your car is in good condition and well maintained. Your car’s make, model, year and mileage play a role. You can use a classic or antique car.
If you’re using a vehicle as collateral, you can improve the loan offer by making sure:
- your vehicle service record is up to date
- the spare tyre and jack are in place
- the licence disc has not expired
- you have the spare key.
It’s straightforward and quick to get a loan against a car in Johannesburg. Contact Lamna on 086 111 2866 or submit your online application to get started. We will contact you if your application is successful.
You must bring your vehicle in for an independent evaluation before we can make the final loan offer. If you’re happy with the offer, we’ll proceed with the paperwork. The loan amount will be paid directly into your bank account.
You’ll surrender your vehicle to us for the loan duration. It will be securely stored until the loan is repaid. No-one will drive your car while it’s in our care.
Make sure you have the following documentation on hand when you start the application process:
- the original vehicle registration certificate
- your ID book or card
- proof of residence no older than three months
- up-to-date service book (optional but helpful).
The vehicle you use as collateral must be fully paid off and registered in your name. If the vehicle is registered to a company, we can still help. Get in touch with us for more information.
Our Johannesburg branch is in Sandton. We’re conveniently located just a few minutes from the M1. Keep an eye out for the EeziSpace Self Storage building. We operate from the same premises. There’s secure parking on site.
The address is 24, 6th Street, Wynberg, Sandton 2090.
If you need to get a loan against a car in the greater Gauteng area, our sister company, Pawn My Car, has a branch in Florida. Pawn My Car offers quick and discreet asset-based loans against cars and other vehicles. The Florida branch is located at:
Asset-based loans against cars are quick and simple. They have advantages compared to a typical bank loan. Asset-based loans with Lamna:
- don’t affect and aren’t based on your credit score
- are based only on the vehicle’s value and not your income
- don’t affect your ownership once the loan is repaid
- are usually paid out in 24 hours
- don’t have hidden fees or early settlement penalties
- offer NCR-compliant interest rates.
Some lenders claim that you can still drive your car while you’re paying off the loan. This offer sounds too good to be true because it is.
These offers frequently have hidden costs and risks, including requiring you to buy your car back from the lender at the end of the loan term. This results in many people having to forfeit their car ownership even when they’ve paid off the loan in full.
We’re a registered credit provider (registration number NCRCP7428) and we fully comply with the National Credit Act. We offer competitive loan terms, with no hidden costs or penalties. We’re also an established lender with physical offices and credibility.
At Lamna, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork.