The most common reason people get asset based loans is their need for fast cash. The entire asset loan process typically takes less than thirty minutes and there are no extensive background check, as with a bank for example.
The cons of an asset loan however are higher interest rates and short payback periods. It all depends on how urgently you need cash and how much you need.
The asset loan process is fairly simple and for an example of a reputable car based loan company take a look at Car Pawn Loan in South Africa. The model is based on the leading Europe and American best practices structures.
Ok, so to secure an asset loan all you need to do is visit your local lender which you can find via a simple Google search. Schedule an appointment and take your asset to their premises. The company will assess your asset and determine the amount of equity available and give you an immediate cash loan based on their findings.
It is important to remember that payback periods are typically 30 days and interest rates are in the 20-30% range. If you need longer to pay back the loan then make this arrangement as soon as possible or you could risk losing your asset.
Asset types most accepted are vehicles, boats, jewelry, art and sports memorabilia. Basically anything that can be sold in a pawn shop or on Ebay for the loan company to recover their loan.