How it works
How does a Car Cash Point Loan Work?
Need a quick cash loan… Take the cash out of your car
Settle early, pay less interest’, it’s a quick and simple way to take the cash out of your car if it has a minimum second hand forecourt value of £4,000.
The maximum loan is a percentage of the trade value of your car and is repayable over 26 weeks.
Car Cash Point is a responsible and ethical lender and will only lend to Home Owners in full time employment or those with proof of a regular income. See our lending policy.
In 4 simple steps the Car Cash Point can guarantee you an instant loan against your car:-
- Stage 1 – Apply online NOW and receive your cash within 24 hours
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- Apply on line or call free phone 0800 68 999 00.
- The Car Cash Point will value your vehicle and confirm the loan amount and provide a free no obligation quotation.
- Stage 2 – Accept the Loan and receive the cash the same day
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- Accept the quotation and visit our office to complete a physical car appraisal. If your car is worth more than £10,000 you would qualify for our Prestige Service and can request a ‘Home Visit’.
- Complete the paper work and provide us with the following original documents for the duration of the loan:-
- V5 Log Book [Showing you as the registered owner]
- Comprehensive insurance cover note
- MOT certificate [if required]
- Spare key and remote control fob
- Stage 3 – Drive your car away and repay the loan
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- Continue to drive your cars as normal.
- You will continue to be responsible for the insurance, tax, MOT and the maintenance of the car for the duration of the loan.
- Weekly or monthly payments are made into our bank account by direct debit or standing order.
- Stage 4 – Repay the loan at any time with no penalties
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- Settle the outstanding debt at any time. Settle early and pay less interest with no penalties.
Need to extend the loan?
If you need to extend your car loan simply ask for an extension. If your extension is accepted, all you need to do is pay the interest accrued to date. Then you continue borrowing as normal for a further 6 months on exactly the same fixed rate with no penalty or extension charge.
Can't repay the loan?
If for any reason you can't pay-off your car loan and you do not want to extend the loan further, then don't worry there is no penalty fee.
The Car Cash Point will look to sell the Car and settle the loan on your behalf. We always endeavour to achieve the best possible price for your car and if we receive more money than the outstanding debt, we will return the surplus to you directly.
