Professional lending terms for your protection
Effective: January 2025
These Terms and Conditions constitute a binding agreement between you and Loan Against Vehicle (Pty) Ltd for the provision of professional vehicle-backed financing services. By engaging our services, you acknowledge understanding and acceptance of these terms.
Applicants must be South African citizens or permanent residents aged 18 or above, possess a vehicle with clear title and no encumbrances, have vehicle registered in their legal name, provide valid identification and supporting documentation, demonstrate stable income and repayment capacity, and maintain comprehensive vehicle insurance.
All applications undergo rigorous professional assessment including certified vehicle valuation by qualified assessors, comprehensive credit evaluation, affordability analysis, document verification, and risk assessment. Decisions are made within 24 hours for complete applications. Approval is subject to our lending criteria and available capacity.
Loan amounts are determined through professional valuation, typically 70-85% of assessed market value. Interest rates reflect market conditions, loan amount, term, and risk profile. Terms range from 6 to 36 months with flexible repayment structures. All fees including initiation, monthly service, and valuation fees are transparently disclosed. Early settlement is permitted without penalty.
Your vehicle serves as primary security with our interest registered with relevant authorities. You retain possession under our drive-and-pawn program. Vehicle must be maintained in assessed condition, kept comprehensively insured with us noted as interested party, not be sold or encumbered without written consent, and be available for periodic inspection.
Monthly installments are due on specified dates via agreed payment method. Late payments beyond grace period incur penalties as per agreement. Persistent default may trigger accelerated repayment demands and enforcement proceedings.
Default occurs upon payment arrears exceeding 10 business days, material breach of agreement terms, provision of false information, significant vehicle devaluation, or insolvency. Remedies include demand for immediate full repayment, vehicle repossession per legal process, credit bureau reporting, and legal action for debt recovery including costs.
Maintain comprehensive insurance, preserve vehicle condition, promptly report accidents or damage, make timely payments, update contact information, permit inspections, and comply with all agreement terms.
Our liability is limited to direct damages not exceeding fees paid in preceding 12 months. We are not liable for indirect, consequential, or punitive damages.
These terms are governed by South African law with disputes subject to South African court jurisdiction.
Questions: request@assettrading.co.za or +27 82 482 3851.