Car loans that you can drive

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Loans or credits may be granted as collateral. Car loans are the most common type of financial product. How do I apply for this type of loan? Where can you apply for it? Under what conditions is it granted? has more information


Payday loans against the car

payday loan and money

Non-bank institutions, when granting loans, always try to secure the funds granted. Normally, this is done by the borrower’s financial verification. His credibility and creditworthiness, supported by a constant source of income, is a guarantee of funds. It happens, however, that a person who does not meet these conditions applies for funds.


It may even be in debt or currently have no source of income that would guarantee the return of the money borrowed. Then, your car can be used as collateral for the loan.


Pawn cars that you can drive

An important feature of these types of loans is that the pledged vehicle can still be used by


This is very important because it is often a work tool or just everyday use is necessary. These are completely different conditions than even those proposed by the pawnshop. The standard lender contract assumes that the car, until the loan repayment date, remains out of the reach of the owner and cannot be used by him.


Under what conditions are a car loan granted?

Under what conditions are a car loan granted?

For the lender, a car lien provides material security for the funds allocated. Therefore, it is not necessary to verify the borrower in BIK, KRD or BIG databases, or to check the amount and sources of income. Under this loan, you can receive funds in the amount of 60% to 90% of the value of the car.


Debt repayment can be spread over installments even over several years.

Car lending has two basic forms:

  • under a contract of ownership transfer of the vehicle – based on this contract the company becomes the owner of 51% of the car; if the commitment is not repaid, the car becomes its property; in addition, she is entered as a co-owner of the vehicle;
  • against the vehicle card – some lenders require the vehicle card to be pledged, which is returned after repayment.

How and where to apply for a car loan?

How and where to apply for a car loan?

There are entities on the market of non-bank loans that specialize in granting loans against cars. Applying for it is not easy enough, just like a regular loan. This can be done by completing the relevant online forms or by booking an agent.


Depending on the institution, we will be asked to provide specific data and to provide documents related to the vehicle. These can be the make, model and year of the vehicle, its VIN and registration number, vehicle card, civil liability policy, registration certificate.

It is worth knowing that non-bank institutions also offer cheap car loans for the purchase of a new car, where the vehicle itself can also be collateral for borrowed funds and can also be used.

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