Can I Borrow Against the Value of My Ford Explorer?
If you need emergency cash, one of the first things you may be thinking about is selling some of the assets you own, which could include your vehicle. However, if you don’t want to sell your vehicle, a title loan could be a solution to consider if you need quick funding to get back on your feet.1
A title loan, also known as a car title loan or auto title loan, is a type of secured loan. If you are eligible for a title loan, you can access a portion of your vehicle’s equity by using your Ford Explorer’s title as collateral for the loan.1
One of the most important aspects of a title loan is the value of your vehicle. As a prospective borrower, it will be helpful to learn more about your Ford’s value before you jump into a title loan application. Continue reading to learn more about ChoiceCash title loans and the value of a Ford Explorer!1
Does a Ford Explorer Hold its Value Well Over Time?
Since the early 1990s, Ford Explorers have been a popular choice for busy families and adults looking for a spacious and functional SUV. Ford Explorers are quite common in the United States, and when compared to their competitors, they can hold their value reasonably well over time. The Ford Explorer is considered to be a mid-size SUV, so some of its most notable competitors are the following:
- Chevrolet Traverse
- Toyota Highlander
- Honda Pilot
- Nissan Pathfinder
- Jeep Grand Cherokee
The number of miles on your Ford Explorer, along with its age and overall condition, are the primary characteristics that affect your SUV’s ability to hold value over time. Kelley Blue Book and Edmunds are some of the top car valuation websites that you can use to find out more about your Ford Explorer’s current value!
If your Ford Explorer has a decent amount of overall value, why not apply for a title loan? You can borrow against the value of your Ford Explorer and use your SUV’s title to unlock quick funding today if you qualify!1 Below are some estimated title loan amounts for different model years of Ford Explorers:1
| Make | Model | Year | Avg. Mileage | Avg. Loan |
|---|---|---|---|---|
| Ford | Explorer | N/A | 124,739 | $4,977 |
| Ford | Explorer | 1999 | 115,722 | $2,500 |
| Ford | Explorer | 2002 | 186,997 | $1,667 |
| Ford | Explorer | 2003 | 146,191 | $2,100 |
| Ford | Explorer | 2004 | 194,320 | $1,509 |
| Ford | Explorer | 2005 | 173,697 | $1,769 |
| Ford | Explorer | 2006 | 159,471 | $1,956 |
| Ford | Explorer | 2007 | 167,921 | $2,146 |
| Ford | Explorer | 2008 | 158,651 | $2,334 |
| Ford | Explorer | 2009 | 154,284 | $2,181 |
| Ford | Explorer | 2010 | 147,926 | $3,371 |
| Ford | Explorer | 2011 | 153,362 | $4,184 |
| Ford | Explorer | 2012 | 159,454 | $4,762 |
| Ford | Explorer | 2013 | 148,217 | $4,790 |
| Ford | Explorer | 2014 | 130,976 | $5,325 |
| Ford | Explorer | 2015 | 113,685 | $5,271 |
| Ford | Explorer | 2016 | 108,311 | $8,100 |
| Ford | Explorer | 2017 | 83,372 | $9,244 |
| Ford | Explorer | 2018 | 64,314 | $7,961 |
| Ford | Explorer | 2019 | 64,593 | $8,124 |
| Ford | Explorer | 2020 | 52,193 | $8,616 |
| Ford | Explorer | 2021 | 28,882 | $13,758 |
| Ford | Explorer | 2022 | 31,723 | $7,823 |
As you can see, the average title loan amount for ChoiceCash title loan serviced by LoanMart on a Ford Explorer is $5,632.1 If you are eligible for a title loan on your Ford Explorer, you could access up to 50% of its total value. Since there are quite a few different factors that can affect your Ford Explorer’s resale value, the simplest way to find out what you could obtain through a ChoiceCash title loan is to fill out a short prequalification form online!1
Is it Possible to Maintain the Value of My Ford Explorer?
Yes, in some cases, it is possible to maintain the value of your Ford Explorer over time. As a vehicle owner, it is important to put these tips into practice to help your car maintain its value and improve its current performance:
- Change the Engine Oil in Your Ford Explorer Frequently and Follow Ford’s Recommended Maintenance Schedule
- Take Care Of any Unexpected Repairs Quickly
- If You are Installing Aftermarket Parts, Make Sure to Do it Correctly
- Don’t Ignore Any Minor Repairs that Could Lead to Major Engine Issues
- Make Sure to Take Your Car to Trusted Repair Shops
What are the Requirements to Get a Title Loan on a Ford Explorer?
Although title loans can be much more flexible than unsecured loans, you will need to meet some initial requirements in order to obtain approval for a title loan on your Ford Explorer:1
- Have a Qualifying Ford Explorer: If you want to qualify for a title loan on your Ford Explorer, your vehicle will need to be in working condition, and it must have a decent amount of value. You can use ChoiceCash’s title loan calculator to learn more about the value of your vehicle and obtain a loan quote with no obligation today.1
- Proof of Income: In order to demonstrate that you have the ability to repay a title loan, you will need to provide proof of income during your loan application.1
- Be of Legal Age to Apply: You will need to be at least 18 years old to apply for a title loan on a Ford Explorer.
What Do I Need to Borrow Against the Value of My Ford Explorer?
In order to get a ChoiceCash title loan on a Ford Explorer, a borrower will need to have the following documents on hand during their application:1
- A Valid Government or State-Issued Photo ID Card
- A Title to a Ford Explorer in Their Name
- Pay Stubs, Bank Statements, or Another Document to Prove Their Ability to Repay a Loan
- Proof of Residence
- Photos of a Ford Explorer
Can I Apply for a Title Loan on My Ford Explorer Online?
Yes! You can conveniently apply for a ChoiceCash title loan on your Ford Explorer online or over the phone today. If you are like most consumers, you appreciate the ability to complete your errands without leaving your home. So why not apply for a title loan from the comfort of your home today?
If you qualify for a ChoiceCash title loan serviced through LoanMart, you can look forward to flexibility, competitive interest rates, potential rewards, and transparency!1 2 Simply give us a call at 855-422-7402 to learn more about the value of your Ford Explorer. Or, click here to begin the application process and find out if you are eligible for quick funding today!1
