Tuesday, September 22, 2020
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Loans with taxi license in Madrid for taxi drivers

Is it possible to get a loan with a taxi license in Madrid as collateral? Many times we believe that obtaining a loan requires large guarantees and many administrative processes with a bank. However, there are alternatives to banks when it comes to obtaining financing. An example of this is loans with a taxi license in Madrid, which can be obtained simply by granting a taxi license as guarantee and without going to a bank.

Loans for taxi drivers in Madrid

Loans for taxi drivers in Madrid

Loans for taxi drivers in Madrid from Private Loan operate under the umbrella of the so-called pledge. Pledge is a concept that is not commonly used in the financial world, although it is much simpler than it seems. The act of pledging means to pledge, or called in a more technical language, to make a pledge is to grant a movable collateral.

Loans with a taxi license in Madrid work that way: if you have a taxi license valued at $ 90,000 in Private Loan, we can grant you a loan, leaving your license as a guarantee.

Banks pledging taxi licenses in Madrid

Banks pledging taxi licenses in Madrid

There are practically no banks that pledge taxi licenses in Madrid or very few carry out these operations. The great difference of pledging with other types of guarantees or guarantees is that throughout the life of the loan the good that has been given as a guarantee can continue to be used. In other words, the taxi driver who gives his license as collateral by means of a pledge, obtains the loan and continues to be able to work with that license.

Normally in a pledge of movable property (that is, when the property is an object) the property must be moved to where the borrower can dispose of it. However, being a taxi license, the only thing that is done is the delivery of the license to the lender, who can dispose of it in case of non-payment of the loan.

Taxi license as a guarantee in Madrid

Taxi license as a guarantee in Madrid

If the fact of handing over the taxi license as a guarantee in Madrid to a third party does not generate too much confidence, do not worry, we understand the situation. At Private Loan we have more than 6 years of experience in signing and executing loans with a taxi license in Madrid. You will not lose your taxi license: all our taxi driver loans are signed before a notary, as any bank would do and as required by law. No one is going to keep your taxi license or lose their control.

Characteristics of our loans with a taxi license in Madrid

Characteristics of our loans with a taxi license in Madrid

Private Loan operates in many Spanish cities, including of course the capital of Spain, Madrid. We have a wide network of professionals from the financial and credit world, who will evaluate the situation you are in to find out your level of indebtedness and how we can help you. We never open lines of financing through taxi licensed loans if we see that the situation is completely irreversible and we are going to have to execute the guarantee.

In addition, in all likelihood, the professional who evaluates your financial situation will be the one to offer you advice throughout the life of the loan: you will have a loan and credit specialist at your disposal to answer all your questions at any time.

Plan the return of your taxi license loan

Plan the return of your taxi license loan

At Private Loan we are a much smaller company than a bank. This gives us much more flexibility and agility in adapting to very different applicant profiles. In most cases, banks reject any type of applicant that is on a list of defaulters such as Financial Credit Institution or Rai, however at Private Loan we can grant you a loan as long as your financial situation is traceable and reversible. For this reason, at Private Loan we let the client choose the number of installments, the duration of the loan, the type of payment (monthly, quarterly, semi-annually…) and the type of repayment of his loan.

In this way we can adapt to very different profiles and all clients can return their loan so that it does not excessively impact their personal finances. An example are taxi drivers who work during specific times of the year, such as summer or holiday periods. In these cases, they are much more interested in repaying their loan through semi-annual payments, since through monthly payments they would find themselves with little income during some months of the year.

Pledge Madrid taxi license

Pledge Madrid taxi license

At Private Loan we allow you to pledge a taxi license in Madrid to be able to access a loan, we always try to adapt to each case and accelerate to the maximum all efforts to quickly serve our applicants. However, we also require certain conditions from them so as not to jeopardize the money of the particular lender that is opening a line of financing. The conditions to access a loan with a taxi license in Madrid are as follows:

  • Obviously you must have a taxi license free of charges. That is: it must be a taxi license that can be sold.
  • Some documentation is needed but it is quite simple: a copy of the DNI, a copy of the taxi license and proof of income. We also need to know if you are in Financial Credit Institution, Rai or if you are already repaying other loans. Once we can study all the documentation you will have an answer in less than 24 hours (normally we will contact you on the same day)
  • If the study of the application is positive, the loan will be signed before the notary of the city of Spain that you choose. Signing the loan before a notary allows the opening of a credit to be left in writing so that there are no formal defects or any of the two signing parties can be harmed
  • As a last step, the Personal Property Registry must be informed when making changes to the taxi license. In some provinces it is also necessary to carry out these procedures at the Town Hall. At Private Loan we take care of all this without you having to worry about anything.

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