If we need money quickly and if we have a vehicle in our name, we can request a car pawn without having to deposit it . The amounts may be greater than 1000 euros when requesting a loan for your car, regardless of whether we are registered in the West African Loan Group, it does not matter if we are unemployed, pensioners or self-employed. Discover the loans with a car guarantee that exist, without deposit, change of ownership and with the best conditions.
As the main alternative when we are in the West African Loan Group, we do not have a payroll, we can request a loan with the West African Loan Group as well as a loan without payroll.
Car pawn as collateral
Below we show you a complete and updated list of companies that allow us to pawn our vehicle to obtain the financing we are looking for.
In this type of credit, our vehicle is used as a guarantee of payment . Therefore, in the event of non-payment, we run the risk of losing it if we do not pay on the due date .
The repayment of the car loan carries interest that is set in the loan contract. It is also possible to make an early repayment but it will also be necessary to pay the interests stipulated in the contract, there being no savings.
The advantage of car loans as collateral that we can continue to circulate with our vehicle in exchange for a small rental fee established in the contract. But if the amount is not enough, we can always leave it in deposit and in this way obtain a higher amount, but we will not be able to continue using it until the cancellation.
Credit for your car
Companies that make loans with your car as collateral offer up to 50% of the appraised value of the vehicle .
Consequently, we will be able to achieve higher amounts than in other financial products. Amounts of € 6,000, € 10,000 and even € 15,000 are possible depending on the value of the vehicle.
However, the usual thing is that smaller amounts are financed since then the reimbursement must be made. It is also common that vehicles with more than 10 years old are not admitted, so not all are valid.
As for the requirements that must be met to request a car pawn are the following:
- Be the owner of the vehicle
- The vehicle must be free of loads or practically free
- We have to have the car's documentation, in order and in force.
This financing gives us the possibility of repaying the credit in comfortable monthly installments with an interest rate between 8% and 20% APR . The terms to return the credit are flexible, between 6 months and 2 years .
In addition to the payment of interest, some companies specialized in offering credit for your car usually ask for a commission for the management and paperwork costs during the change of ownership of the pawn vehicle.
Car pawn companies each have their own operations, therefore it will be a question of asking to see which one suits us.
Where to pawn the car without depositing it
Below we show you some of the companies that work online and that allow us to obtain money for the car without having to leave it in deposit . By signing in circulation we can continue to use it but in exchange there will be a higher rental fee.
Gedescoche - Credit up to € 10,000 using your vehicle as collateral
Gedescoche provides a loan service based on the car pawn . The main characteristic of this company that the ownership of the vehicle is changed in the name of Gedescoche until the credit is canceled.
There is no return period with which we can extend the term as long as we need as long as we are up to date in the payment of the monthly rental fee .
The maximum amount we can get is up to € 10,000 according to the value of our car, valued in the official Ganvam appraisal, giving us up to 50% of its value. It is not necessary to have a payroll or other paperwork to prove that we have income. Interest is reimbursed through a rental fee, it is possible to sign with West African Loan Group regardless of credit history.
As there is no maximum repayment period, the credit expires when we return the borrowed money. The vehicle changes ownership and it is necessary that it is free of charges, less than 8 years old or 10 if it is high-end.
CocheGo - Loan of up to 15,000 euros using your car as collateral
CocheGo gives us the option of requesting up to 15,000 euros with the guarantee of our vehicle within a period of 24 hours and a return period of up to 6 months, renewable.
The advantage that it is not necessary to change the ownership of the vehicle, being able to sign on deposit or continue using it. We can get up to 15,000 euros according to the appraised value of the vehicle (free appraisal with immediate response)
They do not ask for payroll nor do they ask for other guarantees except the vehicle. Even if you are in the West African Loan Group and other bad debts.
You can cancel in advance at no additional cost to do so. The vehicle does not change its name , you retain ownership but it increases the total cost of the operation. The maximum age of the vehicle is 10 years.
Prestacars - Loans of up to 10,000 euros with the guarantee of your car
Prestacars grants money using our car as collateral up to 10,000 euros . There are two modalities, the option of the sale of the vehicle , where Prestacars acts as an intermediary between us and the buyers and then there is the pawn of the car , where we can sign on deposit or continue using it .
We can request up to € 10,000 depending on the vehicle and the appraisal we obtain.
No payroll, no papers as the car is the guarantee itself.
Accept West African Loan Group in whichever option you choose.
Two models of contract, sale or pawn.
Prestamoportucoche -Fast and easy car loans
Loansportucoche is another of the brands that allow us to obtain loans by pawning our car, obtaining as much money as possible for it. However, despite claiming they grant up to 80%, in practice it is not usually given. If you want to continue using the vehicle to start, the amount is limited to 60% depending on the appraised value , but if you leave it in deposit at its facilities you can increase it to 80% in addition to paying less interest .
In the same way as other pawn companies, it does not matter if we are in the West African Loan Group or other delinquent files.
Immediate money up to 80% of the appraised value or 60% if you choose to continue driving the car.
It is not necessary to have a payroll or a demonstrable source of income, nor do they ask for extra documentation except that of the vehicle.
Of course, the vehicle has to be in your name, in Spain and have the proper papers (ITV passed). If you have fines, it does not matter but these will be canceled in the contract, the appraisal and signature being carried at your facilities in Madrid, Valencia or Barcelona . They also have a pick-up service so if you can't get close they move.
When to apply for a loan for your car
This type of financing brings many benefits to applicants, even so it is not always convenient to process them. Here we list some of the reasons and situations why it makes sense to make use of this car pawn .
- If you want to cancel debts in West African Loan Group it is a very interesting option
- You need money but you have no payroll or other source of income that gives you access without endorsement.
- You have a high debt
- You are looking for a fast and punctual solution to solve an unforeseen event
If we need money and we are interested in leaving our car as collateral, we will have to choose the car pawn company that best suits us.
How to apply for a loan with the car as collateral L
After selecting the company with which we are going to proceed to request the commitment of our car, the process will have to be completed online, without displacement or waiting.
1 - First we have to fill in the online form available on the company's website. We indicate our personal information (economic and personal data) together with the data of our vehicle ( model, kilometers, age, brand, etc. ).
2 - Secondly and after starting the application, we received a call from the car loan company to negotiate the conditions of the loan.
3 - Next, and if we agree with the financial conditions, we proceed to formalize the contract. After signing, we receive the loan money for our car in our account immediately .
Money for your car
Even so, before signing the loan contract for your car , it is advisable to read in detail the financing conditions that we accept. In an undertaking, the usual thing is that a vehicle purchase-sale contract is made , giving the user a buy-back option when making the return. But there are some that do sign a car loan contract but the procedures are somewhat slower and with more demands.
If you have any doubts about the terms and conditions of the contract, it is advisable to ask for advice to help us understand what we are hiring .
We hope that with this we have solved your doubts about car endorsement loans also called car pawn. But if you have any questions that have not been answered, do not hesitate to write your comment in the section below.
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