• Samuel Casuncad

How Car ORCR Sangla or Car Pawning Works?

One of the most unbeatable loan products since 2014 in the secured loan industry is the Car OR CR Sangla. Banks and different financing companies offer this type of loan. Some private financiers also vie to get their share of clients from it. The very reason behind perhaps is due to it being easy to apply, flexibility, low interest rate and fast process.


Currently, we only offer car pawning through this loan program for car owners. Motorcycles and tricycles are on hold until further notice. If you need more information about this product or if you need to apply for it, please visit another page we have here.

Sample Copy of OR CR

Definition and Description of OR CR - For the sake of making it clear how this loan product works, we need to define the term OR/CR which may be a bit uncommon to some. ORCR refers to "official receipt and car registration". This is a document required just like your real estate property which appears in the form of land title. This is also the reason why some people call it car title. The color of this document when in original form is light yellow (CR) while the (OR) is light blue. The OR contains the amount paid for the car upon registration to the Land Transportation Office while the CR is where you can find the details of the vehicle in general. These details include year model, make and brand, engine and chassis number, displacement, name of owner, which financing company it is financed or if bought cash, the LTO branch where the registration occurred or where the file is kept and in cases when the vehicle is pawned - the annotation from RD (Registry of Deeds) known as encumbrance (encumbered to:).

Other Names for OR CR Sangla - Since its introduction in 2004, this collateral loan product have been called and given different names by vehicle owners, loan applicants and lending companies as well as banks. Although OR CR refers in general for any type of vehicle, the term "sangla" means the same as pawning. This means an act of using your vehicle as a collateral to get cash in exchange for surrendering either the physical vehicle or thru OR CR only without taking your car. There are many loan products behind this but the most popular is by using a private car. Others will employ the use of taxi, truck, motorcycle (with or without sidecar), multicab, heavy equipment, school service, bus, etc. Hence because of this fact, different loan borrowers call them with different names as taxi sangla, car sangla, truck sangla, puj sangla, motorcycle sangla, tricycle sangla and so on. Other terms for sangla is prenda, pawn, sanla, loan, impounding, without taking your car and so on.


So how does an interested party pawn his vehicle? What are the different documentary requirements and how to go over with the processing? Also, how much is the lowest possible interest rate for this type of collateral loan and where do you apply?


All these questions will be dealt with here but if you want to apply directly and talk to somebody who is an expert, please visit our application page here and fill up your details to receive an immediate call from one of our loan consultants. You may also call us directly or send us your message of concern.


In order to apply for this loan, you either have to make a call, send an email inquiry or fill up our application form. But to have an overview of how to attain faster transaction, please follow the steps as listed below. Call inquiries are given priority and immediate appointment setting.

While it is a fact that banks offer the lowest interest rates for a secured loan such as the OR CR Loan, lending companies offer a faster turnout of cash proceeds. It is therefore the borrower's choice if he prefers a fast process over a lower rate. But to give you an idea and help you make the best decision below is an overview of the difference between applying with banks and with a financing or lending company.


While banks offer as low as 1% interest rate, private lending companies offer as low as 1.25% only. Banks on the other hand can process your loan as short as 7 days while financing companies can do it in as fast as 4 hours with the loan borrower's cooperation and abrupt submission of documents and patience to follow a loan consultant's directives. Today (year 2020), this gap is still how it is if you try to apply to both most likely. More of our previous clients however, chose to go for the faster process over a very small difference in the interest rate. If you are to ask an expert in the lending industry, chances are, you'd get the same suggestion- which is to go for faster processing of your loan application.


loan requirements

We will be enumerating just the basic requirements in order to apply for this type of loan. Please note that additional documents may be required by the lender in cases of absence or lack of any from the list. If you have any problem or special concerns with documents, please don't hesitate to inform us or your designated loan consultant. This will help you speed up the approval process of your loan application. Cooperation and patience is also necessary.

By now you must be ready to apply for the OR/CR Sangla loan product and we strongly suggest to immediately fill up our form or call us. Don't you worry, our assistance is absolutely FREE!

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