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Is it possible to apply for a collateral title loan for vehicles if you own a salvaged vehicle?

Can you apply for a vehicle title loan on a vehicle with a salvaged title? It will actually depend on the salvaged vehicle and the lender. It is not illegal to get a collateral title loan on a salvaged title. In other words there is no wording that prohibits a lender from using a salvaged vehicle as collateral for a loan. However, that does not mean every borrower can loan money using a salvaged vehicle. Some car title loan lenders may be constrained from lending money based on salvaged vehicle collateral.

Why is it so hard to get a collateral title loan on a salvaged title vehicle?

Most salvaged cars look and run just like other normal vehicles. It is therefore important to understand what collateral auto title loan lenders base their decisions on. Every collateral carries one of high risk for the lender and they do their best to decrease this risk as much as possible. A salvaged title car is considered high risk because if a client were to default on a loan and the lender was forced to take possession of the vehicle in order to sell it and get their loan back it is much harder to sell a salvaged vehicle.

Salvaged vehicles are naturally worth less than clean titled vehicles and are not listed on vehicle pricing sites. This makes it difficult for lenders to determine their value. Because salvaged vehicles are a higher risk and more difficult to work with, most companies choose not to lend on these vehicles.

What is the best way to get a collateral title loan on a salvaged vehicle?

You need to call and inquire from collateral vehicle title loan lenders if they loan on salvaged vehicles. If you ask the question first thing, you will save yourself a lot of time and trouble. An important thing to remember is that every collateral title lender has a policy as to whether or not they will lend on salvaged vehicles. If they say no, move on to the next lender. There is no negotiating with the company if that is their policy.

At Real Car Cash Loans, we loan you money based on the value of your vehicle, not your credit score. That means that you have fast access to cash whether you have bad credit or no credit at all. Call Real Car Cash Loans toll free at 1-877-304-7344 and apply now or apply online. You’ll speak with a member of our dedicated team and see how Real Car Cash Loans can help.

Car Title Loans Specialist

Call us at 1-877-304-7344

1) Our payment are as low as $97 per month

2) During the loan, you get you keep your car

3) You can pay out your loan anytime without any

penalties

4) Your can borrow up to $25,000 depending on the value of your vehicle

5) You can choose a 1 year or 2 year term loan.