5 Ways To Maintain Equity In Your Vehicle

Apr 14, 2022
Money Saving Tips

Vehicle purchase, car ownership, loans, financing, interest, equity... It can be easy to feel like you are in over your head when it comes to what's in the driveway.

We're here to help at Rapid Auto Loans. Let's start with equity in your vehicle, what it is, why it matters, and 5 ways to maintain it.


What Is Car Equity?


Simply put, car equity is the difference between how much you owe on a vehicle and how much that vehicle is worth.

To determine the equity in your vehicle, start by finding out the value. Kelley Blue Book is the most common way to determine vehicle value, but there are other sources like Edmunds and National Automobile Dealer's Association (NADA), too.

Once you've determined vehicle value, simply subtract how much you owe on the vehicle loan from the estimated value.

For simple math, if your vehicle is worth $10,000 and the loan balance is $5,000, you have an equity of $5,000.

This is known as positive equity but is possible to have negative equity. Negative car equity occurs when the balance of the auto loan is greater than the determined value.

To capitalize on vehicle equity, financial institutions, like Rapid Auto Loans, allow you to use your vehicle as collateral for a loan.

Because of this, it's important to work towards maintaining equity in your vehicle. Here's how you can.


  1) Regular Car Maintenance


Scheduling and keeping up with routine vehicle maintenance can help maintain your vehicle's resale value. This should include following the manufacturer's guidelines for services like oil changes and tire rotations.


 2) Keep Mileage Low If Possible


Vehicle mileage in comparison to a vehicle's age plays a role in overall value. Since vehicles depreciate quickly, avoiding excessive mileage can help maintain value and equity in your vehicle for longer periods of time.


3)  Keep Your Car Clean


Easy ways to do this include avoiding eating or smoking inside your vehicle. Try to avoid preventable damage like door dings as much as possible. Other ways to maintain vehicle cleanliness can include simple additions like seat covers.

Stains from cigarette smoke or spills can be hard to get rid of in upholstery and excess outside damage will decrease the value of your car.

By maintaining the appearance of your vehicle, you can slow down depreciation and help maintain equity.


4)  Service Records


Keeping good records of all the services performed on your vehicle will help in the long run. This includes things like new tires, tire rotation, oil changes, and any mechanical or bodywork.

Lenders and prospective buyers often look at these first to gauge the working condition of the vehicle.

Service records will show that your vehicle has been well maintained and is less likely to have any issues in the future. This maintains both equity and vehicle value.


5) Follow Manufacturer Guidelines When Possible


Ensure that simple things like suggested tire pressure and cabin air filter changes are maintained.

It can sound cliche to mention this, but lenders and prospective buyers will consider factors like this too. A vehicle that hasn't followed the manufacturer's guidelines can be at greater risk for malfunction(s).


Rapid Auto Loans Is Committed To Serving You


At Rapid Auto Loans, we know that bad credit can take years to correct, oftentimes from life circumstances outside of your control. Unlike other lenders, we don't believe you should be punished for bad credit or no credit. Determination for approval is based on equity and vehicle condition instead.

We are proud to provide car title loans to Floridians at one of our 22 convenient locations. We offer approval on the same day and no penalties for any prepayments on short-term installment loans.
Apply online today or call us at 954-678-5781.


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Rapid Auto Loans is a consumer finance company licensed under Florida 516. The term title loan is used for marketing purposes only.
All loans have a repayment period of 12 months and there is no minimum prepayment penalty. Interest Rates are determined and approved by the State of Florida based on the borrowed amount and the maximum APR (which includes interest rate plus fees and other costs for a year) is 30%. You pay interest only for the time your loan is outstanding. Below is a representative example of the total cost of the loan, including all applicable fees:



Government Fee


Credit investigative Fee


Documentary Stamp Tax


Total amount Financed


Original Loan Date




Monthly Payment (x12)

Rapid Auto uses “Auto Title Loans” for advertisement purposes only and provides auto equity loans. The lenders are licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such lenders loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of lenders activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.