What Is Car Equity and How Do I Find Out Mine?

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Car equity is essentially the value of a car for the owner. Most car owners in the United States have their vehicle financed through a loan. If this is the case, then equity can be can either positive or negative.

The differentiation occurs depending on whether a car is acquired through a loan, and how much is left to pay. People may be curious as to what the equity of their car is along with the factors that impact car equity. If a car is a person’s largest asset they may be wondering how the equity of their car could be used for obtaining extra funds.

How Does Car Equity and Car Ownership Work?

In car equity, the person/people/lender(s) on the title own the equity of the car. If there is more than one owner, or lien on the title then the equity of the vehicle is shared. Having to share equity usually occurs when a vehicle is financed.

What is Positive Equity and Negative Equity?

Positive equity or negative equity occurs if the car’s title is shared or was financed through a type of loan. Here is how these types of equity work:

  • Positive equity is when the total value of the car is worth more than the value left to pay back on the loan.
  • Negative equity is when the total value of the car is not worth more than the value left to pay back on the loan.

The good thing about equity is that it can move from negative to positive once more payments are made to the lender(s).

How Do I Determine the Equity of My Car?

To first thing to do when determining the equity of a car is figuring out the value of the vehicle. There are a few ways one can go about finding out a car’s value:

  1. Get an Appraisal in Person– Car dealerships may be able to figure out a car’s value once they take a look at it.
  2. Get an Online Appraisal– Online tools make it possible to determine the value of a car. Websites will ask for the make, the model, the year and mileage to come up with a value.

Once the value of the vehicle is determined, any amount due from financing/loans should be subtracted. This will determine the equity for the individual. If there is nothing left to be paid for the car then the entire value of the car becomes the equity for the individual.

What Factors Other than Co-Ownership Impact a Car’s Equity?

There are factors that can positively or negatively impact the value of a car thus impacting its equity:

Positive Negative
·         Adding trim/ performance packages ·         Having a history of accidents
·         Following a schedule for maintenance ·         Exterior damage such as dent, scratches
·         Find out when the best time to sell is ·         Interior damage such as rips, tears
·         Mechanical issues

How Can I Make Money From the Equity of My Vehicle?

If an individual has complete ownership of their vehicle they may be able to use it for extra funds. Car title loans may make it simple for people to get money quickly and easily. Car title loans are loans where a car’s title is put down as collateral. The value of the loan comes largely from the value of the car. Here a few reasons why people look to car title loans when looking to get funds from the equity of their car:

  • The car title loan process is fairly simple and can only take a few minutes to begin
  • Funds could be available the same day or in the following twenty-four hours
  • Most title loan lenders do not focus on check credit
  • Since the value of the loan comes from a car, the loan amount may be larger than other types of loans1

At Max Cash Title Loans we connect our customers with hundreds of title loan lenders5. We may be able to help you get equity from a car1. In order to look into a car title the following information is necessary:

  • State ID
  • Proof of Income
  • Proof of Residency
  • Qualifying Title
  • Several Pictures of the Car

Once this information is collected and given to the lender the process of determining eligibility can begin. To get more information on car title loans contact us via phone 855-561-5626 or by email info@maxcashtitleloans.com.

What Can I Do with My Car’s Equity?

There is a lot that can be done with extra funding that may come from a car’s equity. Here are a few ways that many people use car title loans:

·         Medical Emergencies

·         Sudden Necessary Travel

·         Home Repair

·         Loan Financing

·         Pet Emergency Expenses


·         Weather Damage

·         Moving Expenses

·         Making Ends Meet


Car equity may sound confusing but it is fairly simple to calculate. Once an individual figures equity of their car, they can figure out if they want to make money from it. A car title loan is a loan that uses the equity of a vehicle for funding. The funds from car equity may be used for a variety of reasons ranging from medical expenses to home repair. A car title loan may be a good option for someone who completely and individually owns their car’s title and is looking to make some money from their vehicle1.