EastWest Introduces AutoCash Vehicle Refinancing Program

East West Banking Corporation has launched EastWest AutoCash, a refinancing program that allows vehicle owners to secure funds using their car as collateral while continuing to use it for daily mobility.

The program gives car owners access to cash based on the value of their vehicle. Clients may borrow up to 70 percent of the vehicle’s appraised value, with repayment terms that can extend up to 48 months. EastWest also offers a special interest rate of 0.68 percent per month for loans set at 50 percent loan-to-value (LTV), which is among the more competitive refinancing rates in the market. Standard refinancing loans carry a monthly rate of 0.88 percent.

EastWest AutoCash is open to both existing EastWest clients and new customers. The bank said the program is intended for car owners who need funds for business expansion, education, medical expenses, emergencies, or other personal needs.

To qualify, the vehicle must be registered under the borrower’s name and must not be more than 10 years old. If the vehicle still carries an existing loan, the new loan amount must exceed the remaining balance. EastWest will release the proceeds after deducting the outstanding balance.

EastWest President and CEO Jerry G. Ngo said the program provides customers with a practical way to access funds without giving up their vehicle.

“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.

Interested clients may visit the EastWest website to learn more about the AutoCash refinancing program.