Brisbane07 3801 8808
Gold Coast07 5532 8808
APPLY NOW for emergency funds
Apply Now
No credit checks. Bad History OK!
Join over 3000+ happy, local customers
We ended up in a bit of a pickle when we were renovating a property. Hock Your Ride explained everything in lots of detail. They were just overall, excellent.
Susan McKinlay, Self employed home renovator, Alderley.
I'm a business owner and was having issues with people not paying on time. Hock Your Ride are good to deal with and honest...it was just an easy process. I've used them several times since then and referred other people to them.
John McKenna, Industrial Refrigeration, Nerang.
To arrange a time, please give us a phone call on
Gold Coast07 5532 8808
Brisbane07 3801 8808
apply online using the form above.
Collateral Loans – Get Cash Today!
How Much Cash
Can I Get?
How Much Cash
Can I Get?
How does a collateral loan work?
The approval process for collateral loans is similar to that of other loans. Using companies like Hock Your Ride can make the approval process much quicker and easier while granting you the freedom to avoid showing your credit to the lenders, or letting bad credit hold you back from getting the loan you need.
Just like any other loan, entering into an agreement for a collateral loan will have you paying a set amount of money over a set amount of months. And when that period is over and the money is paid completely, the loan ends. The main difference between collateral loans and other types of loans is that the collateral or asset you’ve put down can be repossessed by the lender if the case you default. Just like the bank can foreclose on your property and leave you homeless if you stop paying your home loan, a lender of a collateral loan can show up at your house and take the asset you put down away for good.
To qualify and get approved for a collateral loan, you will need to provide both proof of value and proof of ownership of your assets, usually with a tittle. Although having a good credit history and a consistent work history will help in your chances of getting approved for a loan, getting loans from places such as Hock Your Ride can help you get the loans you need quickly and easily without having to deal with the credit side of the things.
What is a collateral loan?
Even though the term collateral loan may sound unfamiliar, they are actually very common. Home loans and car loans are some of the most popular types of collateral loans, and in both cases, the borrower has secured their loans with a personal asset. Obviously, in the case of home loans and car loans, the asset is either their home or their car and these loans could also increase your net worth.
What’s interesting about collateral loans is that they are usually realized long after the borrower has gained legal possession of their collateral. This is because the collateral acts as protection for the lender in the case of default, which is also why these loans are often referred to as “secured loans” while other types of loans are considered “unsecured”.
One real-life example of when someone might be interested in obtaining a collateral loan is when they are wanting to start a business, but are lacking the necessary start-up cash. In this case, someone may choose to put either their home equity, paid-off vehicle or investment portfolio down as collateral. Or all three.
Examples Of Collateral Loan Types
There are many different forms of collateral loans beyond the standard car loan and mortgages. When someone decides they want to go down the secured loan route, they can use their personal assets to secure their loans, such as:
- Cars
- Boats
- Jetskis
- Trucks
- Machinery
- Caravan
- Trailers
- Jewelry
- And more
The bottom line is that with collateral loans, as with any other type of loan, the lender wants to get the money the lend back. And they can do this by having the borrower secure their loan using one of the types of collateral listed above, because it guarantees that they will receive some of or all their funds back if the borrower decides to default.
It is also important to keep in mind that most lenders won’t take into consideration the full value of the collateral you put down during the loan application process, and the terms of the loan vary widely. When you use assets / collateral that have a history of large drops or swings in value (such as cars, stocks, etc.), the lender may choose to only consider a portion of the collaterals full market value in order to guarantee a certain amount will be able to be returned. In addition to that, interest rates and length of repayment periods as with many other types of loans – vary greatly.
As you go about the process of shopping for a secured loan, make sure you take the time to understand how each loan works, the terms of the loan you are about to sign for, and how much you’re going to be paying month-to-month and over time. Sometimes, collateral loans may have have unusually high APR rates along with some type of additional fees that will need to be verified upon by you before signing.
Forms of Collateral Loans Lenders Accept
Bad credit collateral loans
Collateral loans are great for people that are either just starting to build…
No Credit Check Collateral Loans
At Hock Your Ride, we can approve you for the loans you need in a no…
Business loan with collateral
Many business owners resort to getting business loans in the form…
Gold & Silver Collateral Loans
If you need money quickly and want a no-credit check solution…
Collateral Property Loan
Believe it or not, you can actually use vacant land or your property as a type of collateral.
Getting A Loan without Using Collateral
Getting a loan without using collateral works very similarly to taking out a loan using collateral. With an unsecured loan, you’ll be able to borrow money without putting down any of your own assets. This is a good option for people that have a great credit score as well as a solid history of employment and making regular payments on time.
The downside to an unsecured personal loan is the you will usually need good to great credit to qualify, depending on your current employment situation. Because you’re not putting down any type of collateral to secure your loan, the lender may be hesitant to approve you for a personal loan if you do not have a solid history of consistent work and income.
Although there are times and places for unsecured personal loans, they may be unrealistic for people that are currently suffering from bad credit scores or an intermittent work history. At Hock Your Ride, we can provide you with a no-credit check required collateral loan after you show us proof of asset ownership and some type of personal verification.
Why Choose Us Over a Personal Loan Credit Lender
For a Bad Credit Loan?
Both pawnbrokers and personal credit lenders provide cash loans, but their overall services are not equal. Personal Loans hinge on credit checks, Pay slips and internal charges while car pawnbrokers provide asset-backed cash loans. The assets can be cars, bikes, boats, machineries, or anything else which has value. Here are the differences between loans from Hock Your Ride, and the ones from Personal Credit Lenders.
Loans From Hock Your Ride Fast Cash
- No strikes against your credit or finances
- No hidden charges.
- No credit checks, pay slips or bank statements are required
- Fast processing of pawn cash loans
- You’ll have your loan and cash in minutes*
- You can borrow $1000* and $80,000* against
your asset or even more!
Loans From Other Lenders
- You will be harassed by the debt collectors if you default.
- You’ll have to bear additional fees and charges
- Pay slips, bank statements are required
- Getting the loan approved is a very lengthy and tedious process
- You will need upto 7 days to get approved if you are lucky
- You can get a loan up to $10,000 at the most.
Your Easy Steps To No Credit Check Collateralized Personal Loan
Fast No Credit Check Loans For People With Very Bad Credit or Poor Credit or Unemployed
We will lend up to $90K against your vehicle
- You need to own a vehicle to pawn it.
- Your vehicle needs to be free of any finance.
- Bring your vehicle to our Car Pawn Shop.
Ownership and ID verification
- Need 2 x Id: Licence, Medicare or Bank Card.
- We need car Registration or Sales papers.
- We will verify ownership and identification.
Give key and get money!
- We will value your car & offer you cash loan.
- Upon offer acceptance –the loan is processed.
- You will receive Cash and your Car is stored till repaid.
Frequently Asked Questions
Can I Get A Loan Using My Car or Vehicle As Collateral ?
Yes, you can get a quick loan using your car as collateral. Our Hock Your Ride team is at your service to advise you on the quickest loan process and how much you can borrow. We have a fast & very easy process of a title loan against a vehicle you own. Not only you can pawn your car here but other vehicles as well as a ute, bike or boat, and many more for instant cash. The best part is that we do not do any credit checks or employment checks. Also, there is no need to do repayments until the expiry of the loan!
What can be used as collateral to secure a loan?
You be surprised what asset you can use as collateral to secure a loan. These collateral loans can go beyond the standard car loan or mortgages. If you like to go down the secured loan route, you can use a wide array of assets in order to secure your loans, such as Cars, Boats, Jet Skis, Trucks, Machinery, Caravan, Trailers, Jewellery and many more items of value.
Before opting for the process of a secured loan, you need to understand deeply how each of these loans works, how much you are going to be paying month-to-month & over time, and the terms of the loan you are about to sign. At Hock Your Ride, our team can help you turn your assets into the quick cash loan need.
Who Is The Perfect Candidate For A Collateral Loan?
If you need quick cash and possess any unencumbered asset like Cars, Boats, Jet Skis, Trucks, Machinery, Caravan, Trailers or similar assets, you are a perfect candidate for a collateral loan which could also be called a pawn loan. Generally, a collateral loan is the best option for those who have bad credit history or unemployed, and they are in urgent need to borrow so quick cash.
To be eligible for a collateral loan your asset as collateral needs to be unencumbered which means it must be owned outright without any outstanding debt owing to any financial institution. Because the collateral acts as security for the lender in case you default the borrowed loan amount. Therefore, these types of loans are often referred to as “secured loans, pawn loans or asset-backed loans” while other loans without collateral are considered “unsecured”.
How Much Collateral Is Needed For A Loan?
You can get a loan from Hock Your Ride that lies between 30% and 70% of the total wholesale value of the vehicle subject to the condition. For instance, if your car costs $10,000, we will lend you between $3,000 and $7,000. If you need more information about collateral loans or if you would like to know the value of what you have, fill in the easy loan application and we will provide you with a FREE Evaluation of your vehicle or contact our team so they can help you in resolving any query you might have precisely.
Where Can I Get Collateral Loans In Australia?
Your one-stop destination for collateral loans is Hock Your Ride – one of the leading and trusted firms providing collateral loans in Queensland and New South Wales. We have three branches in Australia which are in Gold Coast, Brisbane & Sydney. Since our establishment, we have helped thousands of people and businesses meeting their money needs. We provide secured loans against collateral which can be a form of unencumbered assets like a car, Ute, motorbike or other vehicles or anything of value.
The best part is we do not do any credit checks. You can be unemployed and on Centrelink. Also, there is no need to do repayments until the expiry of the loan. For more details, feel free to contact us.
Apply NowWe Loan Cash Fast Against Your Ride. Contact us Today and Get Your Cash Loan Now!
Copyright © hockyourride.com.au. Car Pawn Brokers 2024