How do I get a car loan for a rebuilt car title?

A friend of mine works on cars and rebuilt a 1969 Plymouth Fury from basically a shell of a body. I want to buy it from him, but I’ll need a loan to do so. How do I get a car loan for a rebuilt title? It’s already had a safety inspection from the state.

Answer
A 1969 Plymouth Fury is one sweet ride. With a few tips, you can probably make ownership a reality. Here’s how to do it.
The first step is to ensure that the Fury has a rebuilt title and not a salvage title. Without this distinction, lenders will be hesitant to give you a loan because the car signifies an unknown risk.
If you have a rebuilt title, though, the process is identical to getting a car loan for any other type of vehicle. The main distinction is that you’re likely going to have to pay a higher interest rate due to the perceived risk of a rebuilt car.
Getting car insurance for a rebuilt title can also be a bit tricky. In most cases, the car insurance company will only allow you to get liability coverage. While this is cheaper than full coverage, you will have to pay for any at-fault damage to your car or incidentals out of your own pocket.
Want to get car insurance at a great rate? Just sign up with Jerry. In just minutes, you can search rates from top car insurers to find the best value for your money.
Eric Schad
Answered on Nov 15, 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.
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