Will banks approve a car loan for a rebuilt title?

I just found a beautiful Corvette being sold from a private seller. However, it has a rebuilt title, and it's not old enough to be a classic. Will banks approve a car loan for a rebuilt title car?

Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Although most banks will not do a car loan on a
rebuilt title
, you do have a couple options for affording your dream car. Here’s why a major bank is unlikely to give you a
car loan
  • A rebuilt title signifies uncertainty about the car’s history, functionality, and value
  • Lenders prefer a clear valuation of the vehicle as collateral So, our top tip for financing a car in this situation is to seek out alternative lenders, such as:
  • Smaller banks or credit unions: Can be more flexible, especially if you’re a long-time customer
  • Get a personal loan: Don’t require collateral, only good credit and proof of income Bear in mind that personal loans will probably carry a higher interest rate, so paying off the loan early is in your best interest. Finally, remember that
    car insurance for rebuilt title cars
    can be tricky—but it’s no less essential! On a rebuilt title, most insurers will only offer
    liability coverage
    , which will only cover damages to other vehicles in accidents where you’re at fault.
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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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