VEHICLE EQUITY
Use your car as collateral to get cash fast*
Your car could help you unlock lower rates, higher loan amounts, and more affordable monthly payments than you’d receive with unsecured personal loan offers.
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Your car could help you unlock lower rates, higher loan amounts, and more affordable monthly payments than you’d receive with unsecured personal loan offers.
What can I do with a Best Egg Vehicle Equity Loan?
1
Use your car to access money
Take advantage of your paid-off vehicle’s value for the potential to get lower rates and higher loan amounts than unsecured offers may provide.2
Get better terms for your auto loan
Refinance an existing auto loan to score a lower APR, more affordable monthly payment, or free up cash by extending the loan term.3
Refinance your auto loan and request additional cash
Refinance an existing auto loan and request additional money to accomplish your goals.Fast-track your financial goals
By leveraging your vehicle’s value, you unlock the potential to score lower rates and higher loan amounts than our unsecured personal loans.
Whether you own your car outright or are paying it off, a Best Egg Vehicle Equity Loan could quickly give you the money you need to consolidate debt, finance a major purchase, and more.
- See if you qualify with no impact to your credit score
- Predictable monthly payments with a fixed interest rate
- More flexible approval standards than our unsecured personal loan offers
- Access up to 250% of your vehicle’s value (max. $100,000)
What is vehicle equity?
Vehicle equity is the value of your car after you subtract anything you owe on it. If you own your car outright with no loans or liens, your equity is 100%. If you’re paying it off, you can subtract your loan balance from the car’s current value to find your equity as a dollar amount.
Learn moreWhat to think about when considering
a vehicle equity loan
1
How much equity do you have in your car?
With a vehicle equity loan, you can borrow up to 250% of your car’s value. Knowing the amount of equity you’ve earned can help you estimate your potential loan amount.
2
Is your ownership title clean?
Your vehicle can’t have a salvage status or flood or hail damage to qualify for this loan. If you’re not sure, check your ownership title to see if any statuses are listed.
3
Do you know the estimated value of your car?
Use a vehicle valuation tool and browse online listings for your specific make, model, and year to get an idea of your car’s current value.
4
Are all your vehicle documents registered in the same state?
All documents must be issued by the state corresponding to your address, including your vehicle title, registration, insurance, and Driver’s License or ID.
If there is a co-owner, their Driver’s License or ID must also be issued in the same state.
Access your money, keep driving your car
Compared to a traditional title loan, a Best Egg Vehicle Equity Loan could be a smart choice.
Fixed APRs for predictable monthly payments
Flexible loan terms with no prepayment penalties
Ability to find a loan that fits your budget and cash flow
How it works
Tap into your vehicle’s equity in 5 steps
I have an existing auto loan: FAQ
You can apply for a vehicle equity loan if you have an existing loan against your car, but if your car has any other type of lien (tax, mechanics, judgement, etc.) you won’t be eligible.
A cash-out refinance loan allows you to request additional cash while replacing your current auto loan with a new one. If you apply, we’ll work with your lender to pay off your existing loan, then transfer the lienholder name to Best Egg for your new vehicle equity loan.
Refinancing gives you the opportunity to receive a lower rate, saving you money in interest over the life of the loan. You can also adjust the length of your loan term, which could help you pay it off faster or get a monthly payment that’s better for your budget.
You can secure your loan with passenger vehicles like cars, trucks, and SUVs. Vehicles must:
- Be built in 1992 or later
- Have a clean title (no salvage status, flood or hail damage, etc.)
At this time, we’re unable to offer loans secured by motorcycles, RVs, motorsports, or commercial vehicles.
I don’t have an auto loan: FAQ
A Best Egg Vehicle Equity Loan empowers you to leverage the value of your car to secure a loan from $2,000 to $100,000, subject to credit approval. The minimum loan may be higher in some states. The loan can be used to finance a large purchase (other than the vehicle), consolidate high-interest debt, or most any other non-business purpose.
A free and clear ownership title indicates there is no lien or loan on the vehicle. A clean ownership title indicates that it doesn’t have a salvage status or flood or hail damage. To qualify for a Best Egg Vehicle Equity Loan, your ownership title must be both clean and free and clear.
Our vehicle equity loan offers usually have higher loan amounts and lower interest rates than our unsecured personal loan offers, subject to credit approval.
In addition, you can select longer terms than traditional title loans, making the monthly payments much more affordable. Title lenders also don’t report your payments to the credit bureaus, while Best Egg will—helping you build credit as you timely repay the loan.
You can secure your loan with passenger vehicles like cars, trucks, and SUVs. Vehicles must:
- Be built in 1992 or later
- Have a clean title (no salvage status, flood or hail damage, etc.)
- Have a free and clear title (no lien or loan on the vehicle)
At this time, we’re unable to offer loans secured by motorcycles, RVs, motorsports, or commercial vehicles.
Find a loan that makes sense for you
With so many options, choosing the right loan for your needs can get confusing. Let’s break down the types of loans we offer and find the one that suits you best.
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