Raise Funds Against a Car You Own
If you own a valuable car outright, or have built up equity in one, car equity release lets you raise money against it while you keep driving it. You can also refinance an existing agreement, for example to change the term or settle a balloon payment. Boost Finance works with lenders who understand prestige, performance and classic car values, and we explain the costs and risks clearly before you go ahead.
Car equity release in three steps
Step 01
Value the car
The lender values the car and checks any finance outstanding on it.
Step 02
Agree the amount
Raise a proportion of its value, repaid over a fixed term.
Step 03
Receive the funds
Any existing finance is settled and the balance is paid to you. You keep driving the car.
Uses
When car equity release or refinance can help
- Settle a balloon or final payment at the end of PCP or lease purchase
- Change your agreement: a new term or lender
- Raise funds against a car you own outright
- Prestige, performance and classic cars with specialist lenders
The lender owns the car until the agreement is paid, and it can be repossessed if you don’t keep up repayments.
Things to know
Your car is security
The lender owns the car until the agreement is paid, and it can be repossessed if you don’t keep up repayments.
Think about the total cost
Spreading repayments over a longer term can mean paying more interest overall.
Consolidating other debts
Think carefully before using car finance to repay other borrowing. You may pay more overall, and the debt is then tied to your car.
Other ways to finance your car
Hire purchase (HP)
Fixed monthly payments, and the car is yours once the final payment is made.
Car hire purchase →
PCP
Lower monthly payments, with the choice to keep, return or part-exchange at the end.
PCP car finance →
Lease purchase
Lower payments with a final balloon, popular for high-value and appreciating cars.
Lease purchase →
Why drivers use Boost
Specialist lenders
We work with lenders who understand prestige, performance and older cars that mainstream lenders can be cautious about.
Any dealer, new or used
Franchised dealers, specialist independents and, with some lenders, private sellers. We deal with the seller for you.
Clear figures, fast
Deposit, monthly payment and any final payment set out clearly, with one point of contact from first call to collection.
Finance is subject to status and available to UK residents aged 18 and over. Boost Finance is a credit broker, not a lender.
Car Equity Release FAQs
How much can I raise against my car?
It depends on the car’s value, its age and any finance outstanding. Lenders lend a proportion of the valuation.
Can I keep driving my car?
Yes. You keep and use the car throughout the agreement.
Can I refinance a PCP balloon payment?
Often, yes. Refinancing the final payment onto a new agreement lets you keep the car without paying it in one go.
Can I release equity from a classic or supercar?
Yes. Specialist lenders understand classic and supercar values and can lend against them.
What happens if I can’t keep up repayments?
Missed payments can affect your credit rating, and the lender can repossess the car. Speak to the lender early if you’re struggling. Free, confidential help is available from MoneyHelper.
Are you a lender?
No. Boost Finance is a credit broker, not a lender. Boost Asset Finance Ltd is an Appointed Representative of EFT Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 667290). We work with a panel of lenders to find the right finance for you.
Apply Now
Form Loading...
