If you decide to pay off your loan early, that’s great! You’re reducing your debt faster which can save you on interest. Most lenders allow this without penalties.

However, some might charge an early settlement fee. It’s crucial to read your loan agreement to understand any potential costs.

Yes, you can! Even as you’re repaying your loan, you’re free to continue using your car as usual. We understand that your vehicle plays a crucial role in your daily life, so it’s important to us that you maintain your mobility.

However, remember to keep up with your repayments, as failure to do so could lead to consequences. So, drive on while we handle the financial side of things.

The maximum amount you can borrow depends on your car’s value. Lenders typically allow you to borrow up to 50% of your vehicle’s appraised worth.

So, if your car is worth R100,000, you’d potentially be able to borrow up to R50,000.

Absolutely, there are definite benefits to your type of loan over others. You’ll find that interest rates are often lower, you get to keep using your vehicle, and the loan approval process is typically quicker.

Plus, your credit history may not factor as heavily. It’s a flexible option that could suit your needs, especially if you need access to funds quickly.

Do remember, it’s essential to ensure you can meet the repayment terms.

Once your application’s approved, you’ll typically receive the funds incredibly fast. It can be as quick as the same day, depending on the lender. It’s a speedy process because there’s no need for lengthy credit checks or complex paperwork.

Just remember, each lender may have different timelines, so it’s always a good idea to confirm with them directly. Getting your finances sorted swiftly is one of the many benefits of this type of loan.