California residents are familiar with the fact that you can get a title loan using the equity from a lien free car or truck. But what about if you have an older vehicle or a classic car? You may be able to borrow more money than expected with a typical car title loan, as classic cars are often worth a lot of money. These classic car title loans are perfect for anyone with a high value classic vehicle, and even if you have high mileage or a car that’s years 1980 or older, you can qualify for a loan of $5,000 or more!
Apply For A Same Day Title Loan With An Older Car
To apply for an older vehicle title loan, you must show proof of ownership and provide a clean and clear title in your name. Licensed lenders in CA must inspect your vehicle to check its value before funding your loan. A 3rd party does this inspection, and they determine the value of your car. The vehicle inspection shouldn’t take more than 30 minutes, and after that, you’ll sign off on your loan and pick up your cash.
Other requirements for older car title loans can include comprehensive vehicle insurance to cover the loan amount. Overall, older vehicles can still be an excellent option for anyone looking for an equity loan. Bring in your car and proof of ownership along with income verification, have it inspected, and you can receive cash in 24 hours or less from California Title Loans!
Types Of Older Vehicles That Qualify For A Title Loan
While most people think of older vehicles as those ten years or older, any car with a paid off title can be used for an auto equity loan. This includes classic cars, vintage vehicles, and even antique cars, in some cases. Some companies will even allow vehicles that aren’t necessarily considered classics to qualify, albeit at a lower funding amount.
Benefits Of A Classic Car Title Loan
The most significant benefit of classic car collateral loans is that these older vehicles are often worth more, which leads to a higher loan amount. Consider that California’s average title loan amount is around $3,000. Now, look at classic cars’ average resale value of $4,500. Even with high mileage or mechanical issues, these classic cars hold value based on their high demand.
Another benefit of using a classic car for collateral is extending the repayment term. Due to the higher resale amounts, many lenders will offer longer payoff terms for these loans to make payments more manageable.
Older vehicles with substantial equity can get you more cash than a typical title loan, and you can’t pass on this if you need to borrow $5,000 or more. You won’t get approved for a payday loan at that amount with bad credit, but it’s possible with a title loan, and all you need is equity in your vehicle!
Apply For Title Loans In CA With An Older Classic Vehicle
At California Title Loans, we make getting pre-approved online for a classic car title loan easy! There’s minimal paperwork to fill out, and you should qualify for at least $2,500 with a vehicle valued at $6,000 or more.
To apply for a loan in San Francisco or anywhere else in CA, complete our online form and finish the underwriting over the phone. Title Lending companies have minimal credit requirements, making this an excellent option for those with bad credit or no credit history. So don’t let the age or mileage on your car hold you back from getting the cash you need today – apply online for a title loan with California Title Loans or call 855-339-1001!
Having lived and worked in California his entire life, Robert has a strong appreciation and understanding of the online lending environment. He’s managed teams of sales agents and customer service reps for a local title loan company and fully understands how important it is to respect and listen to his customers. He’s approaching 10 years in the title lending industry and looks forward to helping consumers all across the state.
