AUTO EQUITY LOANS
WITH QUICK PRE-APPROVAL

Auto Equity Loans – What’s Required & How They Work

Do you need quick cash but want to avoid selling your car or dealing with a personal loan lender that requires excellent credit and a lot of paperwork to underwrite your loan? Or do you need to borrow more than the few hundred dollars you’d get from a payday advance company? Applying with Premier Title Loans for an auto equity loan could be the perfect solution if you’re looking to save time, borrow a large amount of money, and get your funds quickly! These types of car title loans allow you to borrow cash with the equity in your vehicle as collateral, and you can get approved with a less-than-ideal credit score!

Most companies offering auto equity loans can start the application process online, and you can often get the loan proceeds through ACH or direct deposit. The bottom line is that if your car is worth a few thousand dollars, you should be able to cash out some of its equity and use that as security for a car title loan!

When you first apply with Premier Title Loans, we’ll need general contact info and details about your vehicle’s make, model, and year to get pre-qualified for a car equity loan. Once we start underwriting, we’ll need proof of income, residency, and that your vehicle is registered and fully insured. The vehicle has to be titled in your name only, and most licensed lenders in California won’t allow cosigners. Even if you have bad credit, you still stand an excellent chance of getting approved if you have a newer, lien-free car or truck. Auto equity lenders are more concerned with the value of your vehicle than your credit history.

So why wait? An auto equity loan can be a lifesaver if you have poor credit! Premier Title Loans offers pre-approval online or over the phone at 800-250-6279. We’ll let you know within a few hours how much equity you can access from your vehicle.

How Can I Find Out The Equity Available In My Car

To find out the equity value of your car, the first step is to check the sales of comparable vehicles in your neighborhood. Your car’s equity value should be similar to that of recent vehicle sales. Keep in mind that the car’s value may vary depending on its condition and any upgrades or modifications. Other factors that can influence your vehicle’s value include mileage and whether the car has been salvaged or involved in a significant accident. Your auto equity loan amount will also depend on state lending limits and your ability to repay the loan.

Remember, the title loan value of your car will be lower than the total equity amount of your vehicle. Just because you get a bluebook value of a certain amount doesn’t mean the lender will offer that to you in the form of a title loan. Some equity lending companies will fund a loan at 40% or more of the auto’s current value. In some cases, they may go higher for classic or those with very high values. Still, it’s unlikely that a lender will offer an equity loan with a 100% loan-to-value ratio based on the vehicle’s resale value. Offering less than the vehicle’s value gives them some leeway and security if there’s a default and they must take back the car to settle the balance.

How Can An Auto Equity Loan Help Me

An auto equity loan can provide a fast and convenient funding source when you can’t get approved with traditional unsecured lenders. For example, you may have unexpected expenses or want to make a large purchase, but need cash today. Or perhaps you need quick financing for car repairs or another financial emergency. Whatever the case, auto equity loans offer an easy way to borrow money using your vehicle’s value as collateral. And because they are secured loans, auto equity lenders tend to have more flexible qualifications and often approve applicants with poor credit! So if personal loans from a bank or credit union are not an option, consider applying for a car equity loan with Premier Title Loans.

These loans are also ideal for people who prefer to avoid the underwriting hassles commonly associated with banks and personal loan lenders. Whereas a bank may take weeks to underwrite and approve your application, an equity loan on a car can be finalized in one day or less. Your car’s equity value will mostly determine the loan amount with a title loan. One last benefit of these equity loans is that you can borrow a fair amount with your vehicle as collateral!

Rates For Auto Equity Loans & Can I Refinance?

Auto equity loan rates can vary depending on the lender’s requirements, your vehicle’s valueand your specific lending profile. Interest rates on an auto equity loan can be lower than those for unsecured bank or installment loans. Even though these loans are considered riskier due to the minimal credit requirements, they’re still secured by your vehicle’s equity, and that’s something a lender can always fall back on if you default. Each loan offer is different, and it’s best to contact your lender to determine the actual interest rate for your loan.

Refinancing an auto equity loan can be an option if you have an existing title loan or registration loan with a high interest rate. Don’t continue paying high rates to a lender that charges rates making it nearly impossible to repay your loan. Contact Premier Title Loans at 800-250-6279 to get a quote to refinance your vehicle equity loan.

Keep Driving Your Vehicle With An Auto Equity Loan

People worry they won’t be able to keep using their car after taking out an auto equity loan. Some borrowers are familiar with how title pawns work and believe they must hand over their keys to the lender as collateral for an auto pawn. However, with a car equity loan, you can continue to drive your vehicle while making the loan payments. The only change is that your lender is added as the lienholder to the title, and they can take your vehicle if you default on the payments. Once the balance is paid off, you get the title back free and clear.

Apply Now For An Equity Loan With Premier Title Loans

So why wait to see how much money you can borrow? If you have collateral in your vehicle, an auto equity loan in Florida, California, or other parts of the country can be an ideal option. Loan amounts start at $1,000 for cars and trucks with clean, clear titles. For higher-value vehicles, title loan funding amounts can be much higher. Don’t hesitate to apply with us to see how much money you can be pre-approved for!

Premier Title Loans offers multiple ways to get cash by leveraging the equity in your vehicle. Begin the qualification process for an auto equity loan with our application or by calling us at 800-250-6279.