FAQS

What do I need to qualify for a loan?

For starters, you need to be the legal owner of a vehicle; ensure you have the V5 registration document. Additionally, you need to prove that you can afford the loan you need, so we will require proof of income and recent billing address. You also need to be 18 years of age and a legal citizen of the UK.

How much can I borrow?

The amount of money you borrow will depend on the value of your car and your financial situation. The higher your vehicleís price, the more you can borrow.

How can I be sure you will value my car correctly?

We always thrive on honesty and openness towards our customers, so you can be assured that we will value your car just right. We will need to physically inspect your vehicle so we can value it as per the book.

What if something happens to my car: what then?

Remember, you will still be using your car even after transferring the legal ownership to us. So youíll incur any damages on the vehicle. We would advise you to insure the vehicle so that you can avoid any potential issues such as accidents or theft cases.

Can I still get a loan if Iíve got poor credit history?

Yes you can. At Satis Loans, we treat each application on its own merit and our main aim is to provide you with a loan that is suitable and affordable. Therefore, we will work with you to ensure your needs are met. Since we donít look at your credit history, a lower score wonít ruin your chances of scoring a loan with us.

Will I still get a loan if I donít have a bank account?

We can still pay your loan in cash, so you do not necessarily need to have a bank account to receive a loan. When it comes to payments, we go to all lengths to ensure all our customers are comfortable providing all paying avenues. Thatís why we also accept cash, cheques and debit cards.

Does being self-employed disqualify me?

Not at all. What you will need to do is to provide proof of income perhaps through returns, income tax, accounts or recent bank statements.

What vehicles do you lend against and how old does my car need to be?

At Satis Loans, we loan against any type of vehicle as long as it is in good working condition. The vehicle can be of any age provided it is also roadworthy. However, the car must be taxed and insured.

Can I use the money to clear another loan?

We do not restrict the use of the money you use at all. You can use it for any purpose you deem fit as long as you can afford repayments.

What happens if I canít afford my payments anymore?

If you are finding it difficult to keep up with your monthly payments, it is important that you communicate with us. We are here for you, and we will ensure we work out some new arrangement that will favour you. However, if you do not communicate, we might be forced to repossess your vehicle which is unfortunate because we would not want any of our customers to lose their car. After confiscating your car we will have to sell it to cover the amount you wouldnít pay. And, if the money raised is not enough, you will still be liable for the remaining amount.