Getting a car loan for a salvage title isn't always easy, but Title Loans Florida can change that. By working directly with your salvage title, you can get a loan to help finance your vehicle, whether you're working on making it like new or just working on paying it off. All you have to do is fill out on fast and easy application to let us know a bit about your vehicle.
If you're looking to finance a salvage title, the first step is to know exactly what that means. In its broadest terms, a car with a salvage title is one where its normal registration has been taken out of circulation due to a catastrophic event, such as a fire or flood.
These cars are damaged enough that their insurance considers them a total loss, not worth the cost of repair. Many states have legal guidelines that convert a car to a salvage title when repair expenses exceed more than 75% of the vehicle's value.
Salvage titles come in a couple different varieties. The first, true salvage titles, are the ones that have been completely written off on an unrepaired vehicle. These are ones that need fixing to be drivable, and that may result in some level of financial stress for the title holder.
The other type of salvage title that typically comes up is a salvage that has been repaired, at least to the degree that it functionally runs again. They may not be pretty and not all features have to be fully restored, but these have been rebuilt enough that they fundamentally work as a car.
So why would you take out a salvage title loan? Well, maybe your vehicle has gone through title conversion, and you're looking for a way to get in running order again. Or maybe you're looking to regain some losses that insurance can't cover. Maybe you've just found a really great salvage and want to work on it over time. Salvage title loans can help with all of that.
A salvage title loan isn't very different from a regular car title loan. It is based on the value of the vehicle, and gets the borrower a certain percent of that value depending upon factors like the vehicle, the lender, and the repayment period.
Just like any other title loan, salvage title loans use the vehicle's title as security for the loan. When it comes to salvage vehicles, that's a big plus.
Getting a standard car loan for a salvage vehicle isn't impossible, but it does require some pretty specific things, including amazing credit and a large percent down. Borrowing with salvage title loans, on the other hand, have the security directly in the title, so you don't have to worry about unrealistic expectations when it comes to getting your loan money.
Instead, all you need is to own the title and make sure it doesn't have any liens against it. You'll keep the car throughout the duration of your loan, the lender will hold onto the title as collateral, and once everything is paid off, you'll be able to pick up the title again free and clear.
Plus, borrowing with a salvage title loan gets you some added benefits, including:
With Title Loans Florida, you can get a salvage title loan that really fits your needs.
Getting a salvage title loan with Title Loans Florida is pretty easy. In fact, you can do it in just three steps. All you have to do is:
We have a quick, one-page online application to get you started. All you need to do is give us a bit of information about your vehicle, and you'll get an instant preapproval decision, along with an estimate letting you know how much your loan may be worth.
Once you have that estimate, you can give our office a call to start setting up the specifics of your loan. You'll be able to work directly with a salvage title loan expert to negotiate exactly what you need from our database of secure lenders.
They'll help you identify what's most important to you, whether that's a low interest rate, a lot of time to repay, or money as fast as possible. They'll also work with you to compare terms in a matter of seconds, so that your loan is set up fast and stress-free.
You'll work out the specifics of your repayment plan, too, and then you'll be all set to drop off your title at any one of our Florida locations.
We have hundreds across the state - all you need to do is pick the one that's most convenient for you. When you drop of your title, you'll verify the last few details of your loan, get the rest of your questions answered, and turn over your title in return for loan money in hand.
Later down the road, once the loan has been repaid in full, you'll be able to pick up your title again without a hassle. Meanwhile, our loan team will be there from application all the way through your last payment to support your loan needs.
All you have to do is give our office a call and we'll be there around the clock to answer your salvage title loan questions, or to help you readjust your terms if your circumstances change.
So if you have a salvage title that needs financing, don't lose hope. Use a salvage title loan to get the cash you need to regain your car, and get terms that you'll be able to live with in the process. Apply online to get started today.
We offer car title loans in Florida, as well as the following metro areas: