Get a Loan Against Your Car. Keep Driving, Get Cash.
Need cash fast and own a car that’s paid up or nearly paid up? You can use your vehicle as collateral for a loan and still drive it every day. No queue at a pawnshop, no losing your wheels, no upfront fees. AA Money turns the value sitting in your car into a regulated loan with terms that fit your budget.
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Thank you for your interest in AA Money’s refinancing solutions! Don’t waste any time – get started with the full application now!
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Unlock the equity in your vehicle without selling it or handing it over.
REFINANCE & UNLOCK
YOUR CAR’S VALUE.
What is a loan against your car
A loan against your car is a regulated finance product where your fully paid (or nearly paid) vehicle acts as security for the loan. The lender registers an interest over the vehicle for the duration of the loan, you keep using the car normally, and you repay over a fixed term. When the loan is settled, the interest is removed.
It’s different from a pawn arrangement (where you surrender the car), different from a personal loan (which is unsecured and usually charges a higher rate), and different from refinancing a vehicle (which restructures existing finance rather than releasing equity).
Option 1: Refinance Your Existing Vehicle Finance
If you’re struggling with high repayments on your current vehicle finance, our refinancing option can help you reduce the financial burden by offering a lower repayment amount.
Here’s how it works:
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- Assess your current finance:
Our team will evaluate your existing vehicle finance terms, outstanding balance, and interest rate. - Tailor your new finance:
Based on your needs and financial circumstances, we’ll create a custom refinancing package with a competitive interest rate. - Extend the term:
To achieve lower monthly repayments, the finance term can be extended, distributing the remaining balance over a longer period. - Finalise the refinancing:
Once you’ve agreed to the new terms, we’ll finalise the refinancing process, and your new monthly repayments will begin.
- Assess your current finance:
By refinancing through AA Money, you can enjoy more financial freedom and better manage your monthly expenses.
Option 2: Turn Your Paid-For Vehicle into Equity
If you own a car that’s fully paid off and need some extra cash, our second refinancing option allows you to tap into your vehicle’s equity.
Here’s how it works:
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- Evaluate your vehicle’s value:
Our team will assess your car’s current market value to determine the maximum loan amount you can access. - Customised loan terms:
Based on your financial needs and circumstances, we’ll create a tailor-made loan package with competitive interest rates and repayment terms. - Receive your funds:
Once you’ve agreed to the loan terms, we’ll disburse the funds directly to your bank account, providing you with the cash you need. - Repay the loan:
You’ll make monthly repayments on your new vehicle finance, paying off the borrowed amount over the agreed term.
- Evaluate your vehicle’s value:
By using your car as equity, you can access cash today as well as manage repayments at your own pace.
How it works
1
Apply online
Tell us about your car and what you’re looking to borrow. Takes about 5 minutes.
2
We verify and approve
We check your car’s value, your affordability, and confirm the loan amount you qualify for. Usually within 24 hours.
3
You sign and receive funds
Sign electronically, the interest is registered, and the cash hits your account. Your car stays with you the entire time.
Why AA Money
You keep your car
Unlike pawning, your car never leaves your possession.
Regulated finance
Registered credit provider. Transparent terms, no fine-print surprises.
Fast turnaround
Decision in under 24 hours in most cases.
Flexible terms
Repayment periods structured around your actual cash flow.
No early-settlement penalties
Pay off sooner with no extra cost.
Frequently Asked Questions
Do I need to own my car outright to qualify?
You don’t have to own it outright, but if there’s existing finance on the car we’ll need to look at the structure. In some cases we settle the existing finance and consolidate everything into one new loan.
Will my car be impounded or surrendered?
No. You keep your car, you keep driving, you keep the keys. The lender simply registers an interest over the vehicle until the loan is settled.
How is this different from a pawnshop?
A pawnshop takes physical possession of your car. You leave it with them, and you can’t use it until you’ve paid back the loan. With AA Money you keep the car and use it daily.
What if I can't make a repayment one month?
Get in touch before the due date. Skipping payments without notice damages your credit record. We’d rather restructure with you than send the account to collections.
Is the interest rate fixed or variable?
Fixed for the duration of the loan, so your repayment doesn’t move when prime rates do.
How long does approval take?
Most applications get a decision within 24 hours of submission. If we need extra documents we’ll let you know immediately.