Can You Get A Title Loan On A Salvage Car?
Can you get a title loan with a salvage title? Many clients often ask us this, and the answer is yes you can get a title loan with a car that has a salvage title.
When you buy a car that has a salvage title, they are not as expensive as a car with a clean title, or non salvage title, it is a great way to save money.
A can will get a salvage title when it has been in an accident, and the insurance determines that it is too expensive to repair the car, so it will issue a salvage title.
A vehicle can also get a salvage title if it has been in a flood, and has considerable flood damage, flood-damaged cars will also get a salvage title.
Just because a vehicle has a salvage title, it does not mean that it is a bad car, there are many great salvage title cars that are great cars.
Salvage Car Title Loans
To get a car title loan you must have a vehicle that qualifies, and that means that the car must have enough equity in it, as long as there is enough equity in it, then you will be able to qualify for an online title loan today with your salvage title.
Salvage title loans are the same, just because the car has a salvage title, does not mean that it has no equity, salvage-titled cars do have equity value in them.
To find out the equity in your salvaged title vehicle, you can use the Kelly Blue Book, to look up the wholesale value, and then you can divide it in half, and then divide it again by 50%.
Salvaged titled cars will basically get a third of the wholesale value of the wholesale. You can only have one title loan per vehicle, with a clean title or a salvage title.
How Can I Get A Title Loan On A Salvage Title?
How Much Money Can I Get On My Salvage Title?
The amount of money that you can qualify for with title loans, even with a salvage title, will all depend on the wholesale equity value of your vehicle.
The amount will all depend on the year, make, and the model of the car, and that along with your proof of income will be the deciding factor on the dollar amount that you can get.
To get an accurate amount you will need to provide the Year, make, model, and the milage of the vehicle, you will also need to provide detailed photographs of your vehicle.
Requirements For Salvage Vehicle Title Loans
Here at TFC Title Loans, we have made the process fast and easy for you to get qualified for our online title loan program.
Not all of our referral partners will do salvage title loans, but the ones that do will need to have the following items for you to get approved.
First of all the title of the vehicle must be in your name, as the title will be the collateral, and the title loan company will add their name to the salvage title as the lien holder.
Then you will need to submit your driver’s license, your proof of your residence, your proof of your income, 5 personal references, and detailed photos of your vehicle.
You can submit all of your documents online for your online salvage title loan. You can submit them via email, or you can use your smartphone to submit them.
There will be no need for an in-person salvage vehicle inspection, as your photos will be enough, you will also need to take a photo of the VIN number, and the mileage.
Apply Now For Your Salvage Vehicle Title Loan
If you are interested in getting a salvage vehicle title loan, we are here to help you to get the most money on the equity of your salvage vehicle, no matter if you are living in Delaware, or even if you want to get a car title loan with your salvage title in South Carolina.
When you apply with us, we are able to provide you with the same-day funding that you are looking for, we will get you the max on your title.
Contact us today, we are here to help you to get the money that you need, no matter where you are living, we will get you the local title loan that you need.