Is there a specific loan amount?
Since the asset that is put against the loan varies from one customer to another, the amount you can ArtSavesLifew depends on the asset that you decide to pledge as collateral. Therefore, if you have a very precious piece of art, you are likely to be approved a much large loan than otherwise. Therefore, if you can choose between different pieces of art to get a loan against, choose according to the need of funds.
Our policy is to allow you the loan which goes as high as 70% and as low as 30%, of your asset’s market value.
What does ‘market value’ really mean, and how do you determine it?
The market value of asset refers to the price you are likely to get if you happen to sell the asset in the market. It obviously differs from what you bought it for, as a result of changing times, depreciation, and wear and tear. For many assets, the value may be higher than the value paid, while for other it may be lower.
At Art Saves Lives, we are dedicated to getting you the most accurate valuations of you assets, which is ensured by a team of experts, who carry with themselves enviable experience. We have experts, which work for the likes of ArtSavesLife. We will go to whatever limit it requires to ensure that our valuation of the asset is accordance with its market value.
What will be the cost of the loans?
We offer you very affordable interest rates, which can be as low as a mere 3%. However, the ultimate rate that you end up getting depends on the size of the loan. Therefore, if you pledge in a very expensive piece of art and go home with a big loan, chances are you will enjoy a much lower rate than otherwise.
In addition to your interest rate payments, there is also a set-up charge to be paid. This is a small fraction of your loan’s worth and is used to cover the costs that come as a result of getting you your loan. However, at Art Saves Lives, we value loyalty over everything. After your first loan and every subsequent loan after it, the set up costs are significantly reduced.
How much time will I be given to repay the loan?
The general length of our loans range from 6 months to 1 year. Therefore, the exact length will depend on the terms that accompany your specific loan. This length of time can also depend on you, if you need to make us an exception. Therefore, if you really need a whole year, it is what you are going to get. However, you always have the option of paying back the loan early, as there is no penalty whatsoever.
At the time of loan repayment, you are asked for the amount of loan taken plus any interest rate that due on that date. As soon as you pay back the loan, your asset is either shipped to you or you can just simply pick it up.
Is extension of the loan on the table?
At Art Saves Lives, we are dedicated to getting you loans that contribute to helping all your problems and serve whatever purpose required from them. Walking in this line, we do allow extensions if you really need them. If you extension request is completed, a new contract is made, which means that at the time of extension, any interest due on you is to be paid. In addition, a new contract means that you are also required to pay additional set-up costs. Once you have cleared the dues and paid the relevant costs, your contract is renewed in no time.
How long does the entire process take?
We realize that many at times, getting the loan fast is as crucial as getting the loan itself. Therefore, we ensure that there are absolutely no delays on our part. As soon as your asset is valued, and you have accepted the offer, we wire your money immediately. This how fast you can get access to our loans.
What is the payment procedure?
We allow you extra flexibility by giving you the discretion of choosing the method of payment. Whether it is Bank Transfers, Cash Deposits, Credit Cards, or even Cheques, we are more than happy as long as you are being punctual.
However, it is important to note that some of these methods take longer to go through than the othersThis means that you must keep the timing in mind to ensure that your payment is in time.
Do I need to make an appointment?
Although we do prefer that you make appointments so that you are ensured proper time and attention, to meet with one of our representatives or staff managers, you are most welcome to drop by any time you are around. Whether it is just general information you need or fill in the paperwork for the deal, there will always be someone there to attend you and provide you with whatever you need.
What will be the impact of this on my credit rating?
Although we are dedicated to getting you all the necessary help and flexibility you need to be able to make timely payments, we understand that at times circumstances do not allow for this to happen. In this case, we are forced to sell your asset to recover the amount. However, even then we main our promise valuing loyalty above everything else and avoid going to the credit rating agencies. What this means is that if you happen to default, we sell your asset, recover our loan and other costs associated with sell of your asset, and return the rest of the amount to you. This is where the story ends.
However, it is worth noting that this process is considered a mere last resort and we are more than understanding if you face difficulties in meeting your obligations.
How do I know my assets will be safe with Art Saves Lives?
We understand that many items that you may keep as collateral would need optimal storage conditions. Therefore, for each item you may choose to get a loan against, we have specialist conditions, tailored to suit the needs of the particular items. For all precious pieces or art and other antiquities, we have experts who handle them and preserve them in optimum conditions.
Lastly, what if I change my mind?
Up until the moment you put pen-to-paper to our agreement, we allow you total flexibility to walk away.
After you have given us your asset for valuation, we get back to you with our offer, which consists of the amount of loan we offer, terms, conditions, rates, and other details. At that time, you can take your time to think and decide. If you have any qualms, you are free to look elsewhere. The loan only becomes binding once you decide to accept our offer and sign the deal.