How Yendo Works and Eligibility Criteria

Yendo offers a unique financial product by extending a credit line in exchange for becoming a lien holder on your vehicle's title. This means that if you own your car outright and have the title on hand, Yendo can provide you with a credit card with a limit of up to $10,000.

"The way that Yendo works is that they could extend you a credit line in exchange for being a lien holder on your vehicle's title."

Eligibility Requirements

To be eligible for Yendo's services, you must own your car outright. If there is an existing lien on your vehicle, meaning you have a loan on it, Yendo's current offering will not be applicable. However, Yendo plans to accept cars with loans on them in 2023.

Credit Limit and Interest Rate

The credit limit offered by Yendo depends on several factors, including the make, model, mileage, and condition of your car, as well as your ability to repay. Unlike traditional credit cards, Yendo offers a fixed interest rate, which remains constant even if general interest rates rise.

If you manage your credit wisely by making standard purchases and paying off the balance in full before the due date, you can avoid paying any interest.

For more information on how Yendo compares to other financial products, you can explore our Differences Between Yendo and Title Loans page.