Auto Equity Loans

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In financial institutions where individuals borrow money against the equity of their home, Credex offers equity loans for our clients’ vehicles. If you have equity in a personal vehicle or have paid off the car, you can consider applying for our auto equity loans. This secure loan solution is designed to help our clients save money and enjoy lower interest rates.

About Auto Equity Loans

Auto equity loans are a type of secured loan that involves car owners borrowing money against the value of their personal vehicles. These individuals may own the car or have some equity in it. The approved loan amount typically depends on the equity owned in the car, the vehicle’s fair market value, and the applicant’s income and credit score. An auto equity loan is appealing to an individual who may require emergency funds but is unsure if they qualify for personal bank loans.

How Do Auto Equity Loans Work?

One can apply for an auto equity loan by filling out an application form and provide details about their car’s value and how much equity they have in it. In most cases, the money can be deposited into the person’s bank account upon approval. It is important to note that the lender has the right to repossess the applicant’s car or report missed payments to credit bureaus if they fail to make their loan payments on time. That is why auto equity loans should solely be used for emergencies.

Why Should You Choose Credex Auto Equity Loans?

Below is a short list of our auto title loan benefits:

• No credit checks
• Loans from $1,000 to $5,000
• Over 98% of the applications get approved.
• Low APRs (Annual Percentage Rate) ranging from 18-30%
• Repayment options from 6-24 Months
• You keep the cash and your car

How to Know if You Are Eligible for Credex Auto Equity Loans

Being approved for an auto equity loan with Credex will require you to adhere with the following criteria:

• Must be at least 18 years old.
• Have a valid Florida driver license.
• Own a car in good condition.
• Have the title of the car with n liens against it.
• Be able to pay the loan back.