Refinance your car with Basslows
The true value of a car is often only realized when you risk losing it. From getting to work to handling family emergencies, your vehicle is essential.
But when monthly instalments become unmanageable, the threat of repossession can be terrifying.
How Basslows can help you
If you are falling behind on payments, you might think your only options are surrendering your vehicle or facing a court order. Basslows provides a smarter alternative.
Why refinance your car? Refinancing is the most practical solution when affordability becomes an issue. By replacing your current loan with a new agreement from Basslows, you can:
01
Secure a more competitive rate to reduce the total cost of credit.
02
Spread the cost over a longer period to drop your monthly premium significantly.
03
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Most importantly, you retain full ownership and possession of your vehicle throughout the entire process.
Understanding your options
Option 1: Voluntary surrender (the risky route)
You can hand your car back to the bank (Section 127 of the National Credit Act).
- The Downside: The bank will sell the car at an auction, often for far less than it is worth. You remain liable for the “shortfall” meaning you could end up paying for a car you no longer own.
Option 2: Court order (the legal route)
The credit provider may serve a summons to repossess the vehicle.
- The Downside: You lose the car, and if the auction price doesn’t cover your debt, you are still responsible for the balance.
Option 3: The Basslows solution (the safe route)
We settle your outstanding arrears directly with the bank. We negotiate on your behalf to stop repossession proceedings and restructure your debt into a new, affordable monthly payment.
How It Works
Assessment
We analyse your current bank agreement, arrears, and vehicle value.
Application
You complete a simple form and provide supporting documents.
Intervention
Basslows communicates with your bank to pause repossession actions while we finalize your settlement.
Ownership
You keep your car, and your payments become manageable again.
Ready to refinance your car?
To speed up your application, please have the following ready:
Clear copy of your ID.
Valid driver’s license.
Proof of residence (not older than 3 months).
Latest 3 months’ payslips.
Latest 3 months’ bank statements (stamped).
Current settlement letter from your bank.
Vehicle registration documents (ownership papers).
Your credit report (ITC).