What Is Car Equity?
When you are looking to get a car title loan, your vehicle must have enough equity in it. But what is car equity? We are here to help you to understand what the equity of your vehicle is.
There is positive equity or negative equity, and the difference between them is if your vehicle is worth more than you owe on the loan then you have positive equity. If you owe more on your vehicle than it is worth, then you will have negative equity in it.
Do I Have Equity In My Car?
To know if you have equity in your car, all you need to do is to subtract the balance that you owe, against the wholesale value of your vehicle, we use the Kelly Blue Book, to see your wholesale value.
Also, if you own your car free and clear, you will need to look up your wholesale value, to see if you have the required equity value to qualify for a car title loan.
If you do have enough equity in your vehicle, here at TFC Title Loans, we can help you to get the best car title loan, we have the largest referral network to get you the money that you need. All of our partners are in compliance with the CFPB.
What is car equity?
Get Your Balance On Your Vehicle
To find out the balance that you owe on your vehicle, you might be able to see your account balance online, or you might be able to see your balance on the monthly statement that you receive in the mail.
Find Out The Market Value Of Your Car
There are plenty of online sources to look up the value of your vehicle, but you could always go to a car dealer and ask for an appraisal of your vehicle, or you could ask them how much they would buy it.
There are online car appraisal companies for you to get an accurate assessment of the equity that you have in your car. A vehicle appraisal company will compare your car to similar vehicles, and take into consideration the condition that you have in your vehicle.
When you contact us, we will need to know the year, make, and model of your car. We will need to know the body style and trim, or specifications of your car. We will also need to know the VIN number and the mileage too.
Auto Equity Loans
We will let you know the market value of your car, and if you have enough equity in your car, we will be able to help you to qualify for a car title loan.
When you get the equity value of your car, you know how much you will qualify for a title loan, even if you do have a balance that you owe to another finance company.
Your car equity can be used for you to get the emergency loan that you want. With our car title loans, we will get you the best rates and the best terms.
Fast Approval For Your Vehicle Equity Loan
We will make it easy for you to get the auto title loan with the equity that you have, all you have to do is to apply with us for an online title loan.
Or you can call us directly and we can get you a fast approval over the phone, we will get you the most money on your car equity, so we can get you the money today.
You will need to submit all of the required documents. We will need to verify your vehicle, your proof of income, your proof of residence, and 5 personal references.
Once we have verified all of your documents we will get you the same-day funding that you want, and we will get you the most money on the equity of your car.
Contact us today, we are here to help you to get the local title loan in your neighborhood. We have been helping people since 1994 to get the money that our clients need, we are here for you.