What Is An Auto Equity Loan?
An auto equity loan is also known as an auto title loan. An auto title loan company provides these types of loans in exchange for your vehicle’s pink slip. This is a quick and easy way to get the cash you need for unforeseeable events. Auto equity loans also generally have low interest rates.
How They Work
Getting an auto equity loan is simple and quick. You must have a vehicle to apply. Most of the time, auto title loans are same-day loans. This means you can get the cash you need the same day that you apply. When you apply, the loan company becomes the lienholder of the vehicle until you pay back the loan. Because these loans are based on collateral, rather than creditworthiness, they are much easier to obtain, even if you have bad credit or no work income. Auto equity loans are perfect for those who:
- Need cash fast
- Don’t have good credit
- Own a vehicle
Types Of Auto Equity Loans
Below is a list of the many different auto equity loans that you can secure through an auto title loan company. Learn more about loans and other personal finance assets at Mashvisor.
1. Car Title Loans
Car title loans are perfect for those who have a car, even if it isn’t fully paid off. If you need a car title loan, the loan company may be willing to pay off your car and give you the extra money you need. Speaking with these specialists, you can find out how much the loan will be. Generally, the equity loans you receive are based on how much the car is worth.
2. Truck Title Loans
Truck title loans are the best type of loans you can receive if you have bad credit and need fast cash. As long as you have a truck, you can qualify for this loan. Whether you have a pickup truck, a box truck, a small truck, a flatbed, or any other type of truck, you will be able to take advantage of a truck loan. The amount of the loan is based on the value of your truck and is available the same day that you apply.
3. SUV Title Loans
If you own an SUV then you can qualify for an SUV title loan. These loans are same-day loans and can be ready for you right after you apply. Not only will you be able to get the money you need, but you can still drive your SUV throughout the length of the loan until you pay it off.
4. Motorcycle Title Loans
Motorcycle equity loans are good loans for those who have a motorcycle they can use as collateral for a fast and easy loan. With this loan, you won’t have to worry about having good debt and high interest rates.
5. RV Title Loans
Own an RV? If you need fast cash, using your RV to get a loan is a simple solution. We understand that sometimes when unexpected bills come up or you have an emergency that you will need to get cash quickly and not wait around for a bank loan to be approved. This is where RV title loans come in very helpful. If you’re ready for a quick and easy loan that approves anyone who owns a vehicle, equity loans on your car title are your best solution.
