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?"

Answer
“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.”
avatar
Eric Schad
Answered on May 26, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.

Read advice from car experts at Jerry

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free