CASH FLOW CRISIS?
WE HAVE A SIMPLE SOLUTION...
WE BUY YOUR CAR.
YOU KEEP IT.
YOU BUY IT BACK LATER.
Have cash to pay your bills
In 48 hrs or less.
Keep driving your car.
The smart way to leverage your assets.
Fix your cash flow today
It's quick and easy
Times are tough in SA at the moment.
Sometimes you just need a little friendly help to get over a cash flow bump.
This is how it works…
- If you need R40,000 or more and need it fast, we can help.
- Sadly we can only offer this help in Cape Town currently.
- If you own your car outright, DriveAwaySA will buy your car from you and deposit cash into your account in 24 – 48 hrs.
- Even though we will be the owner of your car you get to keep driving your car everyday as normal.
- As we are the new owners of the car we will charge you a very reasonable monthly rental fee. Full disclosure – this is how we make our money.
- Once you are back on your feet you can buy your car back from us.
- This is NOT “a pawn my car and still drive it Cape Town scam”.
Don’t fall victim to any “Pawn my car and still drive it Cape Town” scams.
These unscrupulous companies target individuals who are in need of instant cash loans. They focus on people who are unable to access other cash any other way due to being black listed or having a poor credit score. Using their victim’s vehicle as collateral, they will do cash loans with no credit check, for an amount that is a fraction of the actual value of the vehicle. They make their money by charging exorbitant interest rates and fees. They know full well that their victim is unlikely to be able to afford the repayment costs. When they default they take the person’s car and keep chasing them for the outstanding fees.
FREQUENTLY ASKED QUESTIONS
Is this a loan against my car?
Not at all! We will actually purchase your vehicle, and ownership of the vehicle will be transferred to us. At no stage do we lend you any money. You are also not obliged to rent either your own, or any other vehicle from us. It is entirely your choice if you wish to do so.
What are the requirements to be eligible to use this service?
- You have to own the vehicle and the vehicle must be fully paid off (in other words, you cannot owe any money to a bank or anyone else on the vehicle)
- You will obviously need to provide us with the papers for the car, your identity document, your proof of residence, proof of bank account and some other information.
- Because this is not a loan, there is no affordability assessment.
- There is no credit check as this is not a loan.
- We will need to assess the vehicle for damage and required repairs.
- You need to be in Cape Town.
- The amount you need, needs to be more than R 40 000.
What price will I get for my car?
- Assuming that the vehicle is in a roadworthy condition, you could expect to get the market value (in other words, the value that your car would sell for on the open market).
- The price would be adjusted to: – settle any outstanding fines on the vehicle; and – undertake any repairs which might be necessary to make the vehicle roadworthy.
- There is also an origination fee of R2,500 which is payable by you to the buyer up front, and this is deducted off the purchase price so will not affect your cash flow.
What will the monthly rental amount be?
Our rentals are generally cheaper than if you were to rent a vehicle from a rental company such as Avis or Europcar. The rentals are calculated taking into account the type of vehicle, the age of the vehicle, mileage and the book value of the vehicle. The rental amount will also include: – insurance on the vehicle – tracking costs (the vehicle will be fitted with a tracking device). We would quote you a rental amount before you sign any documents to ensure that you are happy with all of the elements of the sale and/or the rental. We will give you at least one month’s notice of any increase to the monthly rental amount, and this will not happen more than once a year.
Are there any hidden costs?
- You will have to settle all e-tolls, fines, traffic infringements or other penalties charged while you rent the vehicle.
- You will also have to pay the insurance excess if the vehicle is involved in an accident while you are renting it.
- Any costs of operating the vehicle are also for your account – such as fuel, oil, tyres, etc. for the period that you rent the vehicle.
- Administration fees can be levied by us if a payment bounces or if we have to make any payments or do any of the things that you are responsible for under the rental agreement (such as pay your speeding fines, etc.) These amounts are not included in your monthly rental amount and are therefore payable by you as and when they arise.
- If you default under the rental agreement, you will also be liable for our legal costs to enforce the agreement.
How long can I keep my car for?
The rental runs on a month to month basis, and you are not tied into any minimum period. At the end of each month, you can either return the vehicle to us or rent the vehicle for another month by paying the rental for the next month to us.
If I want to buy my car back at the end of the rental period, what would my vehicle cost me?
The vehicle price will again depend on the market value of the vehicle at that time, the condition of the vehicle, the age of the vehicle, etc. You could expect the vehicle to be sold back to you at as close to the market value of the vehicle as possible. The vehicle purchase price will be clearly indicated on the contract. No surprises.
How quickly can I get cash for my car?
Typically within 24-48 hours from the time you bring your vehicle to us for the inspection. If repairs are required to bring the car up to roadworthy standards, a repair consent form will need to be signed in addition to the offer to purchase and lease agreement. The purchase price will be transferred to you and as soon as the vehicle repairs are completed and the lease amount is paid by you, you can DriveAway.
OUR EASY STEP BY STEP PROCESS.
Copy of your ID Bring your vehicle and relevant documentation with when you come to see us.
- ID document (SA ID, Passport, Traffic Register No. if non-citizen)
- Original RC1 (Vehicle ownership document proving you are Owner and Titleholder)
- Proof of Address
- Proof of Banking (minimum 3 months bank statements)
- Driver’s License
"Thank you Drive Away for helping me with cash flow when I needed it most."
"Baie dankie aan die span van DiveawaySA - Kontant in 24 uur gekty. Top diens"