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Can I get an auto loan for a Volkswagen Rabbit with a salvage title?
"I fix up cars and resell them. I recently found a Volkswagen Rabbit with a salvage title, but I'm a bit short on cash.
Can I get a car loan for a vehicle with a salvage title?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Some lenders will run far, far away from salvage loans due to the car potentially being an overpriced piece of scrap metal.
However, some lenders will provide you with a loan, although it’s probably going to be a personal loan. This means that the interest rate will be far higher than a traditional car loan rate. But if you need money and the vehicle is too much of a bargain to pass up, this is your best bet.
Keep in mind that you’re going to need average credit at the bare minimum to get this loan.”
View full answer
- Gregory R.
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