Repair Equity Loans

Use the equity in your vehicle for repairs, parts or accessories!

Simple to Qualify

Our easy qualification process is made even easier with our team who will be available to help you with any questions. Here is what you need to qualify:

  • You must be of 18 years of age
  • You require a valid Drivers license
  • There is positive equity in your vehicle
  • You will need to have full insurance (collision and comprehensive coverage)
  • The vehicle needs to be registered and insured in your name
  • You must have a bank account to receive the funds and make your payments

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Benefits of Repair Equity Loans

A revolving repair equity loan is similar to a regular title loan but with greater flexibility. Based on good payment history and the value of your vehicle you have the following benefits:

  • After making 6-payments you can automatically loan an additional $500 – $1,000
  • Thereafter, anytime you loan balance is below the original loan amount you qualify to top up your loan
  • Your revolving credit benefit is good for up to 5-years
  • Your loan will report to Equifax and build your credit

Note: Automatic qualification is dependent on good payment history and the vehicle retaining the equity required to qualify for the loan. The automatic loan amount increase of $500 or $1,000.00 depends if “credit check” or “no credit check” was originally chosen.

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How it Works

Similar to a regular title loan a revolving repair equity loan is based on the positive value of your vehicle. This positive value is reduced by any amount owing and the difference is the equity you are loaning against. You can loan around 50% of the equity in the vehicle based on dealer value. Please refer to “Revolving Equity Benefits” that highlight the advantages over traditional title loans. As a premium lender our programs offer many features & benefits including:

  • No credit check
  • No proof of income
  • The credit check option you may be eligible for a longer term, lower interest rate, increased loan amount and lower administration costs
  • Automatically qualify for revolving credit for up to 5-years
  • No early payout penalties
  • We report your payments to the credit bureau, which will improve your credit score
  • Easy qualification
  • Competitive loan rates
  • Subject to condition and value vehicles up to 20-years old can qualify

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Servicing Calgary / Edmonton and surrounding area.

Please direct Equity Loan inquiries to:

Rossi Financial
customerinquiry@rossifinancial.ca
Live Chat at: rossi.financial
403.255.1933