PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Can you get a loan for a car with a salvage title?
I’m in the market for a new car, and our family friend offered to sell me her car for a great price. The catch is it has a salvage title. I don’t have enough money to pay for the car up front, so I’ll have to take out a loan. Can I get a loan for a vehicle with a salvage title?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You can get a loan to finance a car with a
salvage title
, but they can be a risky investment, and finding car insurance
may be more difficult.Not all loan providers or banks will issue a
car loan
for a vehicle with a salvage title, or they may have additional requirements, so you should shop around and compare offers from a few willing lenders. Issuing loans for salvage title cars is done on a case-by-case basis, but you can improve your chances of getting approved by doing the following:- Bring a mechanic’s report stating the current condition and safety of the vehicle.
- Bring records of all repairs and maintenance done on the vehicle.
- Bring insurance quotes for the car to show that the vehicle is insurable.
- Maintain a good credit score and, if possible, use a lender who knows you already.
Once your loan has been approved, you will need to purchase specific car insurance for the salvage title. To easily compare
car insurance quotes online
, download the Jerry
app. Jerry shops for low prices with over 50 different insurance companies, many of which insure salvage titles. The average Jerry driver saves $879 a year on car insurance!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.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
