Mini Cooper Car

10 reasons why you should borrow cash against your car instead of a bank loan

When you want a short term loan, banks aren’t much use, because they like long term loans that give them a clear profit margin over a good period of time. That’s not the only reason why we believe that your best strategy is to borrow cash against your car with the Asset Exchange rather than a bank, but it’s a pretty conclusive reason!

Why borrow money against your car?

Using your car as security against a short term loan makes complete sense. That’s because just about everyone has a car and since it’s only for a maximum of 90 days, it’s a practical strategy, particularly over the short term. So if you’re in the market for a short term cash loan, let’s look at ten reasons why we are better than the banks!

  1. No application refused: It doesn’t matter who you are, we don’t refuse any application for one of our fast cash loans. We have given loans to tradies who are waiting for their clients to pay them, people waiting for their tax refunds, and real estate agents waiting for commission payments. It doesn’t matter WHY you need a short term loan, if you need a loan, we are there for you!
  2. We don’t drown you in paperwork: It’s guaranteed that if you go to a bank for a loan, you just about need to bring an armload of paperwork with you and then they get you to fill in another bucket full of paperwork. We don’t do that, because all we want is your rego papers and ID. That’s it. We don’t get you to fill in reams of forms, because that just wastes your time and our time. When you borrow cash against your car, we assess your vehicle, offer you 65% of the wholesale value and you walk away with cash in hand.
  3. Poor credit scores aren’t a problem: We don’t care about your credit score and the fact that you were one day late paying your electricity bill. All we care about is giving you a fast cash loan that helps you out of a tight spot and at an interest rate that’s affordable and doesn’t drown you in debt. So if you have a bad credit rating, we don’t even need to know and we won’t make any checks.
  4. No financials needed: If you’re a sole trader and you go to a bank for a loan, they want to know everything about your business. They want all your financials for at least the past 12 months, if not longer. At the Asset Exchange, we don’t want your financials, because they are meaningless to our business model. We just want to help you borrow cash against your car, so you can get over a tight spot. Maybe you want to pay a few bills, purchase equipment or do whatever is needed to tide you over until you pay us back at the end of the loan period. We don’t need your financials and we won’t ask for them.
  5. No employment checks: If you’re unemployed or haven’t been with your employer for very long, you have little to no chance of getting a bank loan. That’s because banks use your employment stability as a sign that suggests you’re capable of paying back the loan. We don’t need that type of indicator, because we know that you will pay back your short term loan and get your car back in return. If by chance you can’t finalise your repayments at the end of your loan period and we can’t come to a workable solution, then we sell your vehicle, recover the debt and give you any money left over, minus a selling fee. With a bank, you can’t borrow cash against your car, which is why they check your employment history!
  6. Funds paid immediately: With a bank, the waiting period before you actually get your cash is so long that the moment has often gone! With the Asset Exchange, you get the cash in your hand immediately with no time wasted hanging around for a decision.
  7. Flexible payment schedules: Banks are totally inflexible when it comes to their repayments, telling you how often you need to make your repayments and how much you need to pay. We say that our payment schedule is flexible, but that’s mainly because we have only one! All you need to do is pay us back the amount you borrowed plus the interest at the end of the loan period. That’s it! There’s no weekly, fortnightly or monthly payments, just a simple one-time payment with interest at the end. How good is that!
  8. Affordable rates: Our rates are extremely competitive and very affordable, particularly over the short term. That’s because we charge you a flat interest rate starting from 15% per month. So you know exactly what you need to repay at the end of the loan period and not a dollar more.
  9. You can pawn your car: How easy is it to borrow cash against your car? All you need to do is drive it to our assessment centre in Shailer Park, Brisbane and we will give you 65% of its wholesale value. It’s a very simple concept and works extremely well for everyone concerned. You get your car back when you finalise the loan after a maximum of 90 days and everyone’s happy!
  10. Don’t have a car? No worries! We lend fast cash on lots of different vehicles, so you’re bound to have one of them, at least! We lend short term loans on Utes, SUVs, 4WDs, motorbikes, power boats, sail boats, Jet Skis, caravans, RVs and a diverse range of machinery (we like tractors!). So if you need fast cash, but don’t have a car, just give us a call, come on in and we will help you out immediately.


Interested in taking a loan out against your car?

The Asset exchange is ready and waiting to hear from you! If you need a short term loan – why not borrow cash against your car and move on? It’s a simple, easy and stress free way to borrow money quickly for a short period of time and at reasonable rates. Call us on 07 3708 3258 to make an appointment with one of our assessors. We are open 24/7 by appointment!