Auto Equity Loan

Unlock the value of your car and get more money.

Man on Car

Only available in select Alberta, New Brunswick, Nova Scotia and Ontario Cash Money locations.

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What Is an Auto Equity Loan?

Need extra money? You may be driving it. When you own or have a low balance on a lien on your vehicle, you've earned equity you can use as collateral to secure your loan. That means, if you borrow with your car, it could help you get approved and get more credit!

Simply gather your car documentation and drive your vehicle to a Cash Money location; no title in hand.

Get up to $10,000

Secure your loan with
your vehicle

How to Apply for an Auto Equity Loan

1

Apply

Apply in-store.

2

Bring Your Vehicle & Documentation
Drive to the store in the vehicle you want to secure to the loan and bring the information listed below.

3

Get a Decision & Sign Documents
Receive a fast lending decision and sign your loan agreement, if approved.

4

Get Funded

Receive your funds through direct deposit, Interac e-Transfer® or at a cash-funding branch.

5

Make Payments

Set up AutoPay and never worry about missing a payment again.

An Auto Equity Loan Means Using
Your Car as Collateral

Auto keys

What Do I Need to Apply?

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Age 18 or older

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Valid ID

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Steady source of income

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Open chequing account

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Phone number

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Proof of insurance

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Vehicle on site

What information will we gather about your vehicle?

When you bring your vehicle into a Cash Money location, we will document the VIN number, licence plate, current registration number and mileage. We will also verify your title through a third-party vendor, so you don't have to bring in your actual title.

Satisfied Customers

Common Questions Asked About Auto Equity Loans

If you own your vehicle outright with a clear title or have a low balance on a lien on your vehicle, we will consider it for an Auto Equity Loan.

We accept a variety of vehicles such as hatchback cars, sedans, off-road trucks, SUVs, pick-up trucks, motorcycles, or vans.

We understand that sometimes difficult situations happen where you cannot make your payments. We are dedicated to working with you to keep your account payments current. If we come to the point that no intervention is effective, we will be forced to eventually take possession of the vehicle.

You can choose to pick up your funds at a Cash Money branch same day at participating locations, direct deposit your money to your bank account (funds availability varies by bank) or you could receive your loan in as little as 15 minutes when you choose Interac e-Transfer e-Transfer®.

AutoPay is a hassle-free payment arrangement where you can set it and never miss your due date.

Yes, you may sell your vehicle but Cash Money will be a lien holder. So, the proceeds of the sale will be paid firstly to us to pay off the Auto Equity Loan.

We're happy to help Customers with various credit scores. A credit score is just one of many factors we consider when processing loan applications.

Yes, they can be a good option when you need more funds than an unsecured loan may offer.

Your vehicle must be 12 model years or newer to be eligible.

Over time, your maximum approval amount will decrease to reflect the depreciation of the vehicle you used to secure your Auto Equity Loan.

Yes, you can with no penalty for early, partial, or in full payments.

Currently, Customers are not eligible to have these loans at the same time.

The APR is a range of 34.99% to 46.93%. Once you are given the APR for your loan, it is a fixed rate for the life of the loan.

Please contact a Cash Money branch near you so we can help with your specific situation.

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Loan availability and loan amounts vary by location. Cash-based services such as cheque cashing, money orders, money transfers, the ability to pick up cash or make a payment with cash at the store vary by location in Alberta and New Brunswick. Visit the store finder page at www.cashmoney.ca/find-a-store for each store’s list of services.
Payday Loans are high cost loans. Loan amounts are subject to net pay and other qualification requirements. Promotional rates not available in Alberta, Manitoba or New Brunswick.
British Columbia Residents: The maximum charges permitted in British Columbia for a Payday Loan is 15% of the principal. We charge $15 per $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $45, with a total payback amount of $345 and an APR of 391.07%. The $300 for $20 promotional rate is only available in select BC locations: Under this offer, on a $300 loan for 14 days, the cost of borrowing is $20, with a total payback amount of $320 and an APR of 173.81%. BC Licence #50066.
Manitoba Residents: The maximum allowable charge for a payday loan is 17% of the principal amount of the loan. We charge $17 per each $100 loaned. Sample loan on a $300 loan for 12 days, the cost of borrowing is $51, the total that must be repaid is $351 and an APR of 517.08%. To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800, 1-800-782-0067 or at https://www.gov.mb.ca/cp/cpo/.
Newfoundland Residents: The maximum allowable cost of borrowing under payday loan agreements in Newfoundland and Labrador is $14 per $100 borrowed. We charge $14 per each $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $42, with a total payback amount of $342 and an APR of 365.00%. The $300 for $20 promotional rate is only available in-store: Under this offer, on a $300 loan for 14 days, the cost of borrowing is $20, with a total payback amount of $320 and an APR of 173.81%. Licence #21-23-CA291-1.
Nova Scotia Residents: The cost of borrowing is $15.00 per $100 on a $300 loan for 14 days (391.07% APR). The $300 for $20 promotional rate is only available in-store: Under this offer, the cost of borrowing is $6.67 per $100 on a $300 loan for 14 days (173.81% APR).
Ontario Residents: The maximum allowable cost of borrowing per $100 borrowed in Ontario is $15. We charge $15 per $100 borrowed. On a $500 loan for 14 days, the cost of borrowing is $75, with a total repayment amount of $575 and an APR of 391.07%. The $300 for $20 promotional rate is only available in select ON locations: Under this offer, on a $500 loan for 14 days, we charge $6.67 per $100 on the first $300 borrowed and then $15 per $100 on the additional $200 borrowed, with a total cost of borrowing of $50, at total repayment amount of $550 and an APR of 260.71%.
Saskatchewan Residents: The maximum allowable cost of borrowing under payday loan agreements in Saskatchewan is $17 per $100 borrowed. We charge $17 per each $100 borrowed. On a $300 loan for 14 days, the total cost of borrowing is $51, with a total payback amount of $351 and an APR of 443.21%. The $300 for $20 promotional rate is only available in-store: Under this offer, the maximum allowable cost of borrowing under payday loan agreements in Saskatchewan is $17 per $100 borrowed. Under this offer, on a $300 loan for 14 days, the total cost of borrowing is $20, with a total payback amount of $320 and an APR of 173.81%.
Lines of Credit: Loan maximum of $10,000, based on a completed application, net pay and other qualification requirements, and customer verification including a credit check. Payments are due on scheduled income deposits. Cash Money offers personal loans and is not a credit repair service. APR/Annual Interest Rate 46.93%. BC Licence #83707
Auto Equity Loan: Loan maximum of $10,000. APR 34.99% - 46.93% based on a completed application, net pay and other qualification requirements, and customer verification including a credit check. Security search and lien fee is $50. Payments are due on scheduled income deposits. Cash Money offers personal loans and is not a credit repair service.
Lending decisions and funding times subject to system limitations.
Loan Protection: Must be 18 years of age or older, and under 70 years of age to be eligible. The optional Loan Protection Plan is a Credit Group Insurance Plan Underwritten by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company.
Western Union® and the Western Union® logo are registered trademarks of Western Union® Holdings, Inc.
15-minute funding available only when using Interac e-Transfer® (up to $10,000). Payments and funding via Interac e-Transfer subject to bank processing times, bank participation and system limitations, including daily send limits. Interac e-Transfer is a registered trade-mark and the Interac logo is a trade-mark of Interac Corp. Used under licence.
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