Can I get a loan to upgrade my Jeep Wrangler?
"I want to upgrade my Jeep Wrangler with off-roading equipment but don't have the cash.
I'm considering taking out a loan or adding the additional amount to my car loan.
Will lenders provide loans for upgrades to your car?"
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Answered on Jun 18, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“If you have extraordinary income and credit, you might be able to refinance the Wrangler for an amount that’s more than its value. Lenders might give you up to 120% or 125% of the value of the vehicle, which should give you enough money for the upgrades.
Conversely, you can get a personal loan to pay for the upgrades. These loans usually have a lower-interest rate than credit cards, but you still might have to pay 10%.
Regardless of which option you choose, make sure to shop around to ensure you get the best rate possible.”
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