Auto Equity Loans

Auto Equity Loans

Did you know you can use the equity in your car to get money for debt consolidation, pay bills, take a vacation, and more?

An Auto Equity Loan is a secured loan against the title or equity you have in your vehicle. By using your vehicle as collateral, you can typically borrow money at a much lower interest rate than a personal loan. Rates are determined based on your credit score, length of your loan, and the year model and mileage of the vehicle.

• If you have a clear title to your car, you may be able to borrow up to the current value of your vehicle.
  

• If your car is financed, you can apply for the amount of equity you have built up in your car. To determine how much equity you have, simply calculate the value of the car, minus your loan payoff amount. EQUITY= CAR VALUE- LOAN PAYOFF
   
  

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