Use the Equity in Your Car to Buck Up Your Finances

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Owning a car not only allows you to reliably get to work on time, but it could also help you obtain money for a financial emergency! By using the equity in your car, you could potentially get a few thousand car bucks to handle just about any bill or expense.

Keep reading to learn how you may be able to use your car to buck up your finances.

What is Equity and How Can I Use it to Get Car Bucks?

Owning a car in your name means you have a financial asset! Equity is the exact market value of your paid-off car. If you are still leasing a car, then the equity in your car is the market value minus the remaining loan amount.

An asset can have positive or negative equity. Positive equity is when the asset is worth more than what is owed on it. Negative equity is when a person owes more than what the asset is worth. In order to get car bucks using the equity in your car, you will likely need positive equity. By speaking with a title loan agent at (855) 277-4847, you could easily find out if your car qualifies.

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Can I Still Get Car Bucks if My Car is Old and Has High Mileage?

If your car has seen better days and has quite a few miles on it, know that you may still be eligible to obtain car bucks! Lots of different cars can be used as collateral to get title loans–especially if you work with Title Loans serviced by LoanMart.1

If your car is classic or a luxury brand, you may be able to get a few more car bucks than you would with a traditional car model.1 However, your car does not have to be stylish or in high demand to qualify! It all depends on your finances and the equity within it.

How Do I Find Out How Many Car Bucks I Could Get with the Equity in My Car?

Now that you know what equity is, you may want to know the exact amount in your car to get car bucks! To start, you will need to know how much your car is currently worth and what you still owe on it.

To find out the current value, all you have to do is visit a dealership to get an estimate or use an online title loan calculator. The value of a car is determined through several details, such as:

  • The make and model
  • The style
  • The vehicle year
  • The current mileage

Once you know the current value of your car, you could just subtract the principal amount of the auto loan to find the equity. If you own the car outright, then the market value is just equal to the equity.

If the amount is enough to cover that financial emergency, then why not inquire about car bucks? When you turn to title loans serviced by LoanMart, you could get affordable terms and quick financial relief.1

How Can I Spend My Car Bucks?

If the equity in your car is enough to qualify for car bucks, you could use the money to cover a wide array of emergencies. So whether you need to pay an upcoming bill, make a down payment, or make a costly purchase, check out some of the most popular reasons people choose to inquire about car bucks:

  • Car has suffered minor cosmetic damage and needs a quick repair
  • A bill for an emergency veterinary visit is due soon
  • Need to cover the retainer fee for a lawyer
  • Covering the cost of a roof repair for your home
  • Being able to cover the costs of a funeral
  • And more!

How Can I Make Payments on My Car Bucks?

Once you are able to obtain car bucks using the equity in your car, how can you make payments? When you work with Title Loans serviced by LoanMart, you can choose between a wide variety of repayment methods. You can even switch up how you make payments depending on your preference.

Take a look at some of the convenient ways you can repay your borrowed car bucks:

  • Pay online through your established account
  • Pay by using the handy title loan app
  • Send a physical check through the mail
  • Pay over the phone using a credit or debit card
  • Make electronic transfers using your bank account

How to Inquire About Receiving Car Bucks

Car bucks are especially convenient for people that own a car and need quick emergency funding. Even if you have bad credit or past bankruptcy, you may be able to qualify when you inquire with Title Loans serviced by LoanMart.1

With Title Loans serviced by LoanMart, you could potentially get car bucks that come with transparent terms, affordable rates, and great service.1 The inquiry process is made up of three short steps and you could complete a majority of the process online from the comfort of your home!

The process to obtain car bucks may follow these 3 steps:

  1. Complete an Online Inquiry: To get started and see if there is enough equity in your vehicle to obtain car bucks, just complete the online title loan questionnaire or call (855) 277-4847. If your car is worth enough money on the market, it could be pre-approved for car bucks!
  2. Send in Your Documents: If you are deemed eligible to receive car bucks, you will be asked by a title loan agent to submit your documents for verification. Typically, you will be required to upload the following documents online:
    1. Car Title in Your Name
    2. Proof of Income
    3. Proof of Residence
    4. Proof of Identification
    5. Photos of the Car
    6. References
  3. Review the Agreement: Once your paperwork is verified by a title loan agent, an agreement will be drawn up. The terms for car bucks will be relayed in detail, but be sure to ask questions if anything seems confusing before signing. Once you sign on the dotted line, you can choose how you want to receive your emergency cash! Most people choose to get their money through:
    1. Direct Deposit
    2. Mailed Check
    3. Visiting a Local MoneyGram Location

Car bucks are an emergency loan option for drivers that need money now. If you are ever forced to deal with a financial crisis and you are stressing out, turn to Title Loans serviced by LoanMart for support!1

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