EastWest unveils AutoCash for car owners seeking quick liquidity
Published Mar 16, 2026 09:23 am
At A Glance
- EastWest has launched AutoCash, a refinancing product that lets car owners borrow against the value of their vehicle while continuing to use it.
- Borrowers may access up to 70% of a vehicle's appraised value, with loan terms of up to 48 months.
- Rates start at 0.68% per month for loans at 50% loan-to-value, while standard refinancing loans carry a 0.88% monthly rate.
- The product is open to both existing EastWest clients and new borrowers, subject to vehicle eligibility and credit review.
EastWest has launched AutoCash, a vehicle refinancing product aimed at car owners who need access to funds without selling their vehicle.
The product allows borrowers to use their car as collateral and draw from its appraised value while keeping the vehicle in service for everyday use. EastWest said loan proceeds may be used for a range of needs, including business expansion, tuition, medical expenses, travel, home improvements, emergencies, and other personal requirements.
Under the program, borrowers may access up to 70% of a vehicle’s appraised value, with repayment terms of up to 48 months. EastWest said loans taken at 50% loan-to-value may qualify for a special interest rate of 0.68% per month. Regular refinancing loans are priced at 0.88% per month.
The bank is offering AutoCash to both existing clients and new borrowers. It is pitched at vehicle owners who need liquidity but do not want to give up the use of their car.
To qualify, the vehicle must be registered under the borrower’s name and must not be more than 10 years old. For vehicles that are still under encumbrance, the new loan amount must be higher than the remaining balance. In those cases, proceeds will be released net of the unpaid amount.
Required documents include photos of the vehicle showing the interior, exterior, odometer, and latest OR/CR, along with two valid government-issued IDs, a copy of the latest OR/CR, proof of residence, TIN, and proof of income. EastWest said accepted income documents include the latest three months of payslips for employed applicants, a business permit for self-employed borrowers, or the latest three months of remittance records for those with remittance-based income.
Applications remain subject to credit evaluation under EastWest’s existing policies and procedures.
EastWest CEO Jerry G. Ngo said the product gives customers another financing option built around an asset they already own.
“EastWest AutoCash gives customers a smart way to access funds using an asset they already own — without disrupting their daily mobility. It’s about helping our clients move forward financially while continuing to move forward in life,” Ngo said.
AutoCash adds another option for borrowers looking to raise funds through their vehicle’s equity instead of disposing of the car outright.