Title Loans On Classic Cars – How Much Can I Get

funds for an older vehicle
25Oct2022
Written By Robert Davidson

Most California residents are familiar with the fact that you can cash out equity from your car or truck in the form of a title loan. Of course, most people who apply with us have newer vehicles or cars with low miles. But what about those looking to access the collateral in their older vehicle or in a car that most people would refer to as a “classic”? It turns out that any car with equity that can be titled is a great option to use for an instant cash title loan! Lenders aren’t too concerned about how old the vehicle is or how many miles show on the odometer. The main factor they will look at is how much the vehicle is worth. Similar to a newer vehicle, getting title loans for older cars is no problem as long as you have sufficient equity that you can access!

 

How To Apply For A Same Day Title Loan On An Older Car

To apply for a title loan on an older vehicle, you will need to provide proof of ownership and income and have the vehicle inspected by a third party. The amount of money you can receive will depend on the value and condition of your vehicle. In California, licensed lenders must inspect your vehicle before providing a loan. This inspection must be conducted by an independent party, who will determine the value of your car and ensure it is safe to drive. The inspection doesn’t take long, and you can often get it done the same day you apply.

Other requirements for older car title loans may include comprehensive and collision insurance to cover the loan amount. It’s important to remember that this type of loan is secured by the vehicle, so if you fail to make payments, the lender has the right to repossess your car. As with any loan, it’s essential to carefully consider your ability to repay before proceeding and only borrow an amount that equals what you absolutely need.

Overall, older vehicles can still be a great option for title loans in California. Bring in your vehicle and proof of ownership along with income verification, have it inspected, and you could receive instant cash!

 

get a collateral loan even with a high mileage vehicle.

 

Types Of Older Vehicles That Qualify For A Title Loan

While most people think of older vehicles as those 10 years or older, any car with equity and a title can be used for a title loan. This includes classic cars, vintage vehicles, and even antique cars, in some cases. Some companies will even allow cars that aren’t necessarily considered classics to qualify, albeit at a lower funding amount.

As long as the value of your vehicle is enough to cover the loan amount and interest rates, you can apply for a title loan regardless of age or mileage. So if you’re looking for ways to access the equity in your car, remember that getting a title loan is an option! Of course, it’s always important to carefully consider your options before taking out any type of loan, but don’t count out using your older vehicle as collateral for instant cash.

 

Benefits Of A Classic Car Title Loan

The most apparent benefit with these types of car collateral loans is that they often have more equity, which leads to a higher loan amount. Consider that the average title loan amount here in California is around $3,000. Now look at the average $4,500 for vehicles that are typically viewed as classic cars. Even with high mileage or other mechanical issues, these classic cars still hold their value because they are considered collectibles or have a high demand.

Another benefit of using a classic car for collateral on a title loan is the option for extended loan terms. Due to the higher equity and loan amounts, many lenders will offer longer terms for these loans to make payments more manageable for the borrower.

If you own an older vehicle with equity and need cash, don’t hesitate to consider getting a 24 hour title loan using your car as collateral. While it’s important to carefully consider your ability to repay before proceeding, this could be a great option for instant funds. Check out your local lending options and see how much money your older car could get you today.

 

How To Apply For Title Loans In CA With An Older Vehicle

At California Title Loans, we make it easy to get a quick pre-approval online for a vehicle title loan. Simply use our online application to provide information about your car and yourself, and we’ll give you an instant pre-approval amount. Then, bring in your vehicle for a quick inspection to determine the actual value and loan amount.

To apply for a loan in San Francisco, or any part of CA with an older vehicle at California Title Loans, you’ll need about 30 minutes to submit your info online and complete the underwriting over the phone. Lending companies have minimum credit score requirements, making this an excellent option for those with bad credit or no credit. So don’t let the age or mileage on your car hold you back from getting the cash you need today – apply now for a title loan with California Title Loans!

 

Qualify for fast funding with older car title loans.