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Can I get a loan for a salvage car title?
I’m pretty short on cash these days, but I need to get a car to get to work. I found a car with a salvage title; can I get a car loan for it?
Chloe Jenkins · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
While it is less common, you can get a loan on a
salvage title
. Fill out an application form with your lender of choice and get the car appraised so that you can determine its value. If you are approved, you will need to provide your lender with the following:
- Salvage car title
- Photo ID
- Proof of income
- Proof of address
- Physical Inspection
If you are not approved for a salvage title loan, look into taking out a personal loan instead, as your chances of approval on a personal loan are likely to be higher than your chances on a salvage title loan.
There are other ways to save on car expenses, including your
car insurance
. Try using the number-one-rated car insurance app, Jerry
, to compare rates from more than 50 top providers. The best part is, Jerry customers save an average of $879 a year.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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