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What is an Auto Equity Loan?


Auto Equity Loan

Our auto equity loan product allows you to repay the loan in scheduled payments that are generally equal in amount (first and last payment may vary slightly). At Infinity Loans, you may repay your auto equity loan early, which will save you interest.

What do I need to apply for an Auto Equity Loan?

Simply bring in a clear title with your name on it and a form of identification. We accept many types of identification: Driver’s License, Identification Card, Out of State ID, Mexican Matricula Card, Passport, or Government photo ID. We also accept many types of titles, including original titles, certified copies, salvage titles, and titles that have released liens signed off by another lender on the front. You will also need proof of income, residence. Infinity Loans may require a bank account on loans over a specific amount. If you bank online you can use our simplified verification system and avoid the hassle of paperwork. With this system, the only thing you need is the title and bank account information.

How much can I borrow?

You may be able to borrow up to $25,000, depending on your income, various underwriting criteria, and state laws.

Do I have full use of the vehicle during the term of the loan?

Absolutely! You get the money and you get to keep driving your car.

When will I receive my loan proceeds?

You will receive your approved loan amount in a check at the time of approval in store.

Are Motorcycle Equity Loans available?

Yes, Equity Loans are available for motorcycles, in store and the requirements are the same: clear title with your name on it and an ID. You may also need proof of income, residence, and Infinity Loans may require a bank account on loans over a specific amount. If you bank online you can use our simplified verification system and avoid the hassle of the added paperwork. With this system, the only thing you need is the title and bank account information.

Does my car need to be paid off?

Yes, your vehicle needs to be paid off to receive an Auto Equity Loan.

What if I lost my title, what do I do?

You will need to produce a title before a loan can be made at your local Infinity Loans Store. You may contact your local Motor Vehicle Department to replace your title. If you need help, just contact the local branch and they may help you obtain a copy.

What if there are two names on the title?

You may apply at your local branch and both people must be present in the store to complete the process. When it comes time to sign the documents, the store will instruct you how to complete them. For Nevada applicants, please contact one of our convenient locations for additional details.

What if the vehicle title is in someone else’s name?

The person named on the title will be the only person able to take out a loan or obtain credit services. If you recently bought your car and the title is not yet in your name, you will need to have the title transferred at the Motor Vehicle Department before applying for a loan or credit services. If the title includes the name of another person, such as your spouse, he or she will have to be present when you apply for the loan and credit services. If you have any questions just contact the local branch for help with this process.

I have two cars. Can I get one loan based on both?

No. Only one loan per person at a given time. Infinity Loans does allow a spouse to obtain an additional loan if it is secured by a different car.

Do I need to be employed? Can I be retired?

You do not need to be employed, but you need to have some sort of income. You can be self-employed, or even receive income from some source other than an employer, but we will require that you to have some income to ensure your ability to repay the loan. You can be retired or even on disability. The key is to have a continuous and regular source of income.

Is my personal information safe?

Yes! Infinity Loans values your privacy and internet safety. To read more in our privacy policy, click here.

What do I need to apply for an Auto Equity Loan?

You will need to bring a valid form of identification and a clear title to your local Infinity Loans branch. You may also need proof of income, residence, and Infinity Loans may require a bank account on loans over a specific amount. If you bank online you can use our simplified verification system and avoid the hassle of the added paperwork. With this system the only thing you need is the title and bank account information.

Is there any cost to apply for the loan or credit services?

No. You will not be charged to apply for the Auto Equity Loan or any credit services, whether or not you are approved. Plus, with our satisfaction guarantee, you won’t be charged any interest or fees if you change your mind about the loan or our credit services within 24 hours.

When will the loan be due?

For auto equity loans, payments will generally be due on consecutive pay periods, and the term (length) of the loan will vary by state. You will be informed of the payment due dates and amounts if your loan is approved.

Check with your local branch to obtain the rules about payment.

When will I hear whether I qualify for credit services and a loan?

Generally no more than one hour in the branch. Once approved, you will be given a check on the spot!

If I pay a loan early, how does that affect my finance charge?

If you repay your loan in full at any time, you will only be responsible for accrued interest on the outstanding principal through the date of repayment. So, if you pay off early, you will generally pay less interest.

What if I change my mind and decide I do not want the loan?

You may return the money in cash that Infinity Loans loaned you and cancel the transaction within twenty-four (24) days of receiving your check. No questions asked and no fees.

What happens if I fail to make a timely payment on my loan or credit services transaction?

Failure to make a timely payment on your loan or credit services transaction can have several consequences, including the following:

  • Financial Implications – Past due interest is assessed on any loans you may obtain from us or that we may arrange for you (terms and conditions are described on your contract and vary by state). You may be assessed a late fee if you fail to make your payment by a specified period following its due date, and you may be assessed a returned item charge if any check or electronic payment we submit on your behalf is returned unpaid (late fee and returned item fees vary by state – see your loan agreements for additional details).
  • Collection Activity – We may attempt to collect any delinquent amount through our standard collection practices, which include contacting you by phone, mail, SMS or email. We may also exercise any of our rights under our loan or credit services agreements with you. See your loan agreement for full details.
  • Impact on Your Credit Score – Impact on your credit score varies by state. Please contact or visit one of our convenient locations for further details
  • Renewal of your Loan – We do not automatically renew any of our loans or credit services transactions. Where refinances or renewals are available (varies by state), you may apply for a refinance or renewal of your loan or credit services transaction by visiting your local branch prior to your due date and applying for a renewal or refinance. In connection with any renewal or refinance, you will be required to sign new loan agreements for such renewed or refinanced transaction, and our standard rates for loans or credit services transactions will be assessed on such renewal or refinance (varies by state – see posted fee schedules in your local branch).

How do I cancel the loan?

Online: To cancel the loan, you must deliver the proceeds from your loan in cash or certified check within 24 hours, or by close of the next business day, the greater of which is deemed by state law.

1. All loans subject to approval pursuant to standard underwriting criteria. Not all consumers will qualify for a loan or for the maximum loan amount applied for. High-interest loans should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any high-interest loan transaction.

3. Auto Equity loans include different product terms and subject to different underwriting criteria.

4. Our credit decision on your application may be based in whole or in part on information obtained from a national database including, but not limited to:

Teletrack:
155 Technology Parkway, Suite 800
Norcross, GA 30092,
1-877-309-5226.

Why Choose Infinity Loans?

We make it easy to obtain the money when you need it most. Infinity Loans is a leading financial services provider, specializing in consumer loans. In business since January 2018, Infinity Loans focuses on serving consumers and seeking alternatives to traditional banking relationships by gaining convenient, immediate access to financial services. Our Customer Service team is comprised of seasoned and experienced individuals who are committed to excellence in your customer service experience.