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Auto Equity Loans

Most people have probably heard the term “equity” about a home, which increases in value over time and creates additional wealth for buyers. Here’s how auto equity loans work. Car equity is a similar concept. Instead of being calculated based on a car’s value and how much is still owed on that vehicle to a lender. Car equity is calculated simply by looking at the fair market vehicle of a car that has already been fully paid off. With an understanding of equity, it’s easy to comprehend how an auto equity loan works.

Title loans, car equity loans, and title pawn loans are all pretty similar in that you can get some fast extra cash from using your vehicle as collateral. At the same time, you don’t need to hand over your car to your lender; you simply exchange its equity for cash. This makes it an utterly convenient type of secured loan that you should definitely consider applying for when in need of some extra money, like yesterday.

equity auto finance

What are Auto Equity Loans?

Auto equity loans are a type of secured loan in which the owner of a vehicle uses the value of their car as collateral to obtain cash. Naturally, these loans are very similar to home equity loans. Automobile equity loans are great for those needing cash who don’t want to impact their credit. Car Equity loans are fast and affordable!

Auto equity loans do not differ much from a home equity loan, given that you get to use the equity in an asset you own to secure financing. In an auto equity loan, this asset is your vehicle, be it a car, truck, motorcycle, or another. Auto equity loans are ideal for individuals with bad credit who want to get their hands on some fast cash immediately and don’t qualify for a bank loan. The great news about auto equity loans, compared to conventional loans, is the fact that you not only get the cash you need almost instantly but also don’t have to reason why you need the money (or provide proof of whether you have spent it for the purpose you applied for a loan). This makes them particularly appealing options when fast cash is required.

The only thing you need to take into account seriously is your ability to repay the loan. Then, the value of your vehicle will determine the amount of auto equity loan you can receive. Of course, it goes without saying that you must have the title of your vehicle in your name. Otherwise, you won’t be eligible for an auto equity loan. This is because the whole concept of an auto equity loan is that you borrow cash against the value of your vehicle, which entails that you commit to repaying the loan with interest. So, it is paramount to have ownership of your asset to use it as collateral.

Overall, an auto equity loan is a good option for vehicle owners with enough equity in their cars to fund the loan. Now, if you don’t have the vehicle title in your name, you can head to the DMV and make the needed changes, so the vehicle comes into your possession the way it is supposed to be.

Auto Equity Loan Provide Emergency Financing for Crisis Times

One of the most common questions that many people have when considering car equity loans is how the loan amount can be used. Use our auto equity loans for virtually anything. You may be able to simplify your other debts by consolidating them and taking advantage of a single monthly payment. Loans agains cars is becoming very common for people who are looking for some fast money. Auto equity loans for bad credit holders, are usually who are using them, but in reality equity auto loans can be used by anyone.

Another common use of our auto equity loan is to handle unexpected expenses. Some borrowers opt to use their loans to make a large purchase or simply enjoy the flexibility and convenience of having a little extra money. Other uses include:

  • You have a sudden medical or vet bill
  • Make emergency car repairs
  • Consolidating Debt
  • Need last-minute trip expenses
  • Want to have the extra money in the bank
  • Invest in new opportunities
  • If you need Emergency funds fast

auto equity loans

Auto Equity Loan Benefits

These affordable auto equity loans have quite a few benefits, not the least of which is the ability to ease a brief financial downturn and shore up the household budget. By understanding how these car title loans work and how each state regulates auto equity loans online, borrowers looking to solve their financial worries can take the first step toward peace of mind.

Auto equity loans online are fast to get from us, all you have to do is apply, and we will book your car to see if you have sufficient equity init , to use your car equity, to get a loan on your car.

 

  • Auto Title Loan Collateral: Auto equity loans require collateral in the form of a fully-owned vehicle and its associated title. By using collateral, lenders can reduce the risk associated with issuing a loan. We can, therefore, offer auto equity loan approval to a far greater share of applicants. Get a loan on your car today, so you can solve your fast money needs.

car equity loan

  • Large car Equity Loan Amounts: Car equity loan amounts are based on the fair market value of your car and, in many states, dictate the maximum amount of money that can be loaned to a borrower upon approval. This makes it easy to apply for auto equity loans and knows exactly how much money you will be awarded.
  • Quick Online Auto Equity  Approval and Payment: Our Auto equity loans are offered online, with fully electronic applications that can be reviewed and approved within minutes; the typical loan is also funded and transferred into the borrower’s bank account electronically within one business day.
  • Short, Flexible Repayment Periods With Equity loans: Most people want to repay auto equity loans quickly and forget about it. In many cases, TFC title loans can be fully repaid in as little as 30 days. In many states, however, you can extend the repayment term up to a full year if you need more time to repay the balance.

Auto Equity Loans Provide a Quick Financial Solution in Times of Need

Auto equity loans have worked hard to create lending options that work for customers who need a short-term financial fix instead of a long-term headache. Such as car equity loans, which grant borrowers a loan based on how much their vehicle is worth. Automobile equity loans are a fast way to get the emergency money you need. may be you have asked “can i get a loan on my car?”We will be happy to help you with getting you a loan on your car, we will get you the money within 24 hours.

We can get you an auto equity loan online today, our fast online approval makes it easy! Another term that is commonly used is a title pawn loan, which is essentially the same thing. Just a few questions about your car and almost in an instant equity auto loan. Less than an hour – the cash will well and truly be in your hands. With TFC you have the convenience of a title loan lender near you.

Taking A Loan Out Against Your Car

getting a loan on your car, is fast and simple with us, our fast approval process, will get you the money you need in your hands ,faster than you can believe. Do not worry if you have bad credit, we will do car equity loans with bad credit. Contact us today a get a loan on your car, use your cars equity to get the money you need for your financial emergency.

What Is an Auto Equity Loan? This is a question that is often asked, it is a loan secured against the equity in your vehicle.

Equity Loan On Your Car

What is equity in your car? Well if you have a car that is paid off or nearly paid off, there should be enough equity in it. If you are still paying for your car and you have a large balance, then there is probably nothing that we can do for you, but on the other hand if you have a small balance, we could pay off your finance company, and you can borrow against your car. Quick cash car loans on your vehicles equity is how we can help you as long as you have equity in your car.

How to Get an Auto Equity Loan

When trying to figure out which lender to trust with an auto equity loan, do pay attention to/consider some factors, so you stay on the safe side:

  • The lender’s terms.
  • The repayment plans and the various fees.
  • The amount you really need. 
  • The lender’s minimum loan requirements (if any). 
  • The amount of equity in your vehicle. 
  • The way the lender determines the value of the vehicle (most of us use the Kelley Blue Book). 

As for the loan requirements, for the most part, the procedure is fairly simple. You only need a few documents to get things rolling. So, as soon as your application is approved, you will need to provide the lender (including us) with:

  • A government-issued ID
  • The title of your vehicle (should be registered in your name)
  • Photographs of your vehicle
  • Proof of income to demonstrate that you can repay the loan (via a credit check)
  • A vehicle whose value equals to the minimum loan amount of $2,510. 
  • Comprehensive and collision car insurance (applicable per case).

Note: To get an auto equity loan, the lender will consider your ability to repay your loan and the value of your vehicle. To determine both, the title loan company calculates the difference between the value of your car and how much you currently owe on your car loan alongside your ability to pay back the auto equity loan. 


auto equity loan

Auto Equity Loan Requirements

Things you’ll need:

  • Name
  • Date of birth (must be at least 18 years of age)
  • Email address
  • Primary telephone number
  • Employment status
  • If employed, the name of the employer and work telephone number
  • Gross monthly income
  • Other income sources
  • Make and model of vehicle or RV
  • Year of vehicle
  • Mileage
  • Your car’s VIN

It’s important to remember that our car equity loans are based on the fair market value of the vehicle being used as collateral. For this reason, you will have to submit the most accurate and up-to-date information about their vehicle when applying for our car equity loans online. Furthermore, the vehicle must be fully-owned without any liens. That means the car cannot currently be financed. You must have the title and also have all the necessary documents before applying for a title loan.

vehicle equity

Auto Equity Value as Determined by The Kelley Blue Book

There are several free and available tools for you to use when trying to evaluate the value of your vehicle. Your vehicle equity value can be determined by the Kelley Blue Book and our company lends up to 85% of the wholesale value. We accept most vehicles including but not limited to sedans, SUVs, trucks, RVs, semi-trucks, motorcycle, etc. Likewise, vehicles can either have a clean title or salvage title. To drive the point home, your loan approval is contingent on whether or not your vehicle contains substantial equity value. You can use our title loan calculator to estimate the cost and size of your loan today!

The process of applying for online car equity loans only takes a few minutes to complete. When applying online for car equity loans, you should be prepared to provide the necessary documents and information listed in this article and don’t forget you can always contact our support for further assistance.

With this information, we will quickly inspect your vehicle and do other necessary needs to make sure that you have the auto equity loan that you want, qualifying for our title equity loans is fast. You do not need to be in dire financial straits to take out a car equity title loan with us. Our loan can be advantageous for individuals who simply wish to make the most of their current financial situation.

What You Should Know About Auto Equity Loans 

Taking into consideration the benefits of getting an auto equity loan and the associated costs will help you make wise and educated decisions. Some things to bear in mind while in the process of deciding whether to go for an auto equity loan are below.

An auto equity loan is worth considering because it:

  • Does NOT push you to put your property on the line – Compared to an unsecured loan, auto equity loans have much lower interest rates. This is primarily because the lender can repossess your car if you fail to repay your loan. Unsecured loans carry a higher risk for the lender, which is why they usually come with a higher interest rate. 
  • Offers extended loan terms – You may be provided with more flexible repayment options that enable you to extend your loan terms even further. In this case, though, the fees you will be called to pay are a bit higher.  
  • Does NOT have strict requirements to qualify for it – The only thing you need is to own a vehicle with positive equity. This means that it is paramount you owe less money on your vehicle than it is worth at the time you apply for an auto equity loan.  
  • Gives you the chance to get fast access to extra money – You can have your cash in less than a business day, which is significantly less time-consuming than with other types of loans that can take up to several weeks. 
  • Does NOT require you to have good credit – The collateral is solely supplied by the value of your car. 
  • Enables you to use the money as you wish – Nobody will ask you to show where you spent the money you got from a loan, unlike with a bank loan that dictates how you use the money. 
  • Does NOT take your car away – You still have your car and drive it according to your daily schedule. This is a huge deal, especially If you are using your vehicle to earn a living. 
  • Allows you to have fast cash – Whatever the emergency, you know you can use your vehicle to tap a source of money. 

Some other things about auto equity loans to keep in mind are:

  • Car equity loans can be costly – This type of loan comes with interest costs as mentioned above. However, you may also be called to pay for extra expenses, such as documentation stamp tax charges and DMV fees, which means that you will need to pay interest on them as well. Any applicable fees should be reflected on your APR (Annual Percentage Rate). 
  • You may end up losing money if you trade-in or sell your vehicle – This is referred to as being upside down on your auto equity loan. Over time, vehicles depreciate in value, which means that you could find yourself owing more money on the vehicle than it’s worth at this given time. This is because an auto equity loan adds to any sum you may still owe if you are currently repaying your vehicle. So, when you try to trade-in or sell your vehicle, you may as well lose money. 
  • You could lose possession of your vehicle – If you are late in your payments or unable to repay the loan, your financial situation may become worse than it already is because the lender, in this case, has the right to repossess your car. If your vehicle is an income source for you (or your only source of transportation), losing it may have devastating results in your life. Plus, you risk getting a negative credit score if you miss payments to the credit bureaus or if the lender reports the vehicle repossession. 

Auto Equity Loans for Older Vehicles

Some people may believe their vehicle is too old for vehicle equity loans or it has too many miles on it to have any real value or equity, so they hesitate to take out car equity loans. Vehicles are retaining their value for far longer today than in the past. Therefore, a vehicle could still have enough value to provide the basis for car equity loans even if it is older or has a lot of miles.

what is vehicle equity

Another interesting thing about TFC Title Loans is that you will still be using your car as usual without any interference from us. We only take your car title and hold on to it for the period of the loan but we will not stop you from using your car.

TFC Title Loans is The Best Option for Vehicle equity Loans!

TFC Title Loans are one of the most popular short-term lending options available to today’s borrowers. We offer fast application and approval processes, large maximum loan amounts, and a far easier chance at approval for your automobile equity loan. This is because of a few key factors that are unique to TFC’s auto equity loan. You can get your auto equity loan online, from us. We want to ensure that the loan you apply for is within your budget. Therefore, the more equity value within your vehicle, the more cash you might be awarded when you are approved for a loan. Most community banks and some credit unions offer auto equity loans. Unfortunately, rates for these loans are dependent on the quality of your credit score and your credit history. Read more at https://en.wikipedia.org/wiki/Title_loan

TFC bad credit equity loans speak for themselves – the name says it all.  When someone applies for an equity loan with bad credit through us, we look at the car’s details and the percentage of the original value that remains. Then, we can advance a sum equivalent to that. Not less than $2,600 and up to $50,000. Don’t forget to give us a call if you have any questions regarding our loans and loan process today!

Where to Get an Auto Equity Loan

There are many lenders who offer auto equity loans, but the interest rates they charge on such loans are extremely high. Needless to say, another excellent source to apply for an auto equity loan is online and lenders like TFC Title Loans that also offer flexible repayment plans, better terms, and lower payments than every other option out there. Let’s talk about your auto equity loan today and how you can have your emergency cash within minutes!

Car Equity Loans – Apply Now!

auto equity loans online

Apply online to get your equity auto loan refinance. We’ll reply immediately after the processing is complete we will then use this information to generate auto equity loans estimate. Once we have made an auto equity loan estimate and approval decision? We will then contact you to discuss the loan terms and the funding process. And yes, it is as easy as that.

Most times, our customers receive the loan amount on the same day as the equity auto finance application our equity loans with bad credit process is the best you can get anywhere around the States. Our instant equity auto loans are secure. This creates less risk for the lender and more for you to gain. And, you as the owner can keep on driving it, even as you pay back the auto equity loan.

Online car equity loan experts at TFC car equity loan aim to make your life as easy and hassle-free as possible by making money a non-issue. Don’t hesitate to contact our dedicated customer service team with any questions!

Conclusion For Auto equity Loans

If you’ve exhausted all your options and are still in the market for a reputable car equity loan company. I know you may have done a little legwork to find a good one and it has not been easy. Worry no more, TFC auto equity loans are here to help you out. We are simply amazing and we have been in the market for years.

car title loans online

Helping so many individuals get around their financial hurdles and you will not be any different from the rest you will use the equity of your vehicle to get you the money you need today. If you are wondering if you can get an Auto Equity Loan, do not worry, we can help you where ever you are located. Our fast and simple online title loan application will get you funded today by using your auto equity. Please contact our helpful and dedicated customer support team so we can get you on the way to financial happiness.

Frequently Asked Questions
What is an equity loan?

Equity loans are used to get money quickly based on the value of items owned like cars or houses.

What is a pink slip?

A car's "pink slip" verifies ownership of the vehicle and can be used to leverage the car's value to take out a loan in the event of an emergency.

Does a bill of sale show ownership of a vehicle?

No, the bill of sale is only a record that a sales transaction occurred between two parties.

Lenders Law Licence Number by DBO 6038192