Applying for a loan using the car as collateral is a very common practice throughout the world. It is a way to obtain better conditions and benefits for the requested loan, such as a longer term to pay and good interest rates. That’s why in Bancame, we offer you the possibility of obtaining an online loan by leaving your car as a guarantee and with the full possibility of recovering it when the loan payment term ends.
What are steps to follow on getting a loan
If you need an online loan with us and you want to leave your car as collateral for this loan, you just have to follow the steps that we will explain below:
- You only have to be over 18 years old, have an Argentine DNI and tell us how much money you need. Then you must enter your personal information, ID number, home, office or mobile phone number, email and other relevant information. It does not matter if you are in the Veraz, we analyze other factors to evaluate your request.
- Before formalizing the online loan application through our platform, your car will receive a general inspection in order to verify the conditions in which it is located in order to serve as a loan guarantee. In the case of collisions, a dent in a panel could be accepted, but not a collision, and the policy would indicate a damage letter that mentions the previous damage.
- Once the car has passed the inspection test, you must provide your bank account information, as we will need the account number to make the online loan deposit, leaving the car as a guarantee.
- To know if your online loan application leaving your car as a guarantee was approved by our platform, you must wait for a period of time no longer than 20 minutes and we will call you to any of the telephone numbers you have provided to let you know that you can enjoy of the loan requested.
It is important to bear in mind that the payment of the online loan with the guarantee of your car will be settled automatically on a monthly basis as the payment terms by automatic debit expire.
The amount of the online loan with the guarantee of your car will have an amount of up to 40% of the total value of the vehicle and you will have a term of 24 months to pay it.