What is an Auto Equity Loan?
That is a great question! The definition of Equity is the monetary value of property in excess of liens against it. An Auto Equity Loan is a great way to put the equity in your vehicle to work for you! If you have a car title that is free and clear or an auto loan that you have paid way down, you can use this equity to put cash in your pocket.
Learn more about CUD’s Free Checking Account with No Opening Deposit
The equity in your vehicle could be very helpful in so many different ways. Maybe you have used high interest credit cards to over spend during the holidays. Since auto loan rates are considerably lower than most credit card rates, using an Auto Equity Loan to pay off holiday spending will definitely save you some money. The equity in your vehicle could also be used to take the family on a vacation or to work on that home improvement project you have been putting off.
There are endless possibilities for the equity in your vehicle! If you are interested in applying you can apply online here or you can call our Financial Service Department directly at 303.202.5659 and one of our representatives would be happy to take your application over the phone.