loan against cars
Loans Against Cars

Lamna offers loans against cars, so if you need funds fast, you can use a car as security for your short term loan. With Lamna, there’s no waiting, no complex paperwork and no need for proof of income or a clear credit rating. The process is fast, straightforward and completely discreet.

Just contact us and let us know the make, model, year and mileage of your vehicle as well as how it was acquired and whether or not it is a grey import (Japanese or other import). These factors will help us determine the value of the cash loan against your car.

We’ll then make you an offer straight away, over the phone. If you choose to proceed, we can meet at our offices, inspect the vehicle and, if all is in order, finalise the agreement. Then we’ll transfer the funds to you immediately, while you’re still in the office.

Documents require for loans on cars:

  • the original car registration documents, which must be in your name
  • your ID
  • proof of address.

Can I get a loan against my car if I am still paying installments?

The answer, unfortunately, is ‘no’. If you want to borrow money against your car, there can’t be any debt outstanding on the vehicle.

What will happen to my car once I hand it over?

Once you borrow money against your car, it is stored in a completely secure location. When you’ve repaid the loan against your car and monthly interest (which is charged in line with National Credit Act guidelines), the vehicle will be safely returned to you.

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APR & Loan period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months.


All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.  


Loans are not renewed automatically. Loans are renewed by agreement on the same terms as the original loan.


Non-payment will result in the ownership of the borrower’s pledged asset being transferred to the lender with no further impact on the borrower (including fees and credit bureaux).

Illustrative example

Client borrows P10,000 for 90 days.

Loan Amount Repayment Terms Monthly Repayment Total Repayment Initiation Fee Monthly Fee (Interest + Service charge) APR
P10,000 3 months P560 P12,370 P1,000 P560 60%