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:

• Have fewer than 150,000 miles
• 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.

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:

• Have fewer than 150,000 miles
• 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.