If you need a car title loan and have an older vehicle, we may be able to help. A title loan is a loan where fast cash is provided using the vehicle as security. As such, older vehicles can be a bit tricky for some lenders, particularly those who look at the value of the vehicle as the primary factor for approval to decide if funds should be lent. Usually, most lenders will not approve a loan for a vehicle older than 10 years.
True Financial is able to finance older vehicles. Actually, we have helped many customers like you get the cash you need when you need it. We are able to look at more than just the KBB value or the value of the vehicle. We look at you, your age, your job, what you're planning on using the loan proceeds for and what your income is. We are able to fund the minimum loan on vehicles that qualify, with fast same day loans.
To find out if you are eligible, simply fill in the form on the left or give our office a call or visit one of our locations. You may want a pink slip loan of $2,500 or even up to $10,000, or you may be looking to refinance a loan. The advantage of True Financial is we are able to give a quick decision on the spot to if your vehicle qualifies and how much you can borrow. Then once your loan is approved we can provide fast cash to you. Best of all, all our loans have no prepayment penalties.
What is Needed To Apply For A Loan On An Old Vehicle
To apply for a title loan for an older vehicle you will apply for a loan in very much the same way as someone appies for a title loan on a regular car. With a title loan though, the value of your vehicle is often the most important factor that a lender considers when deciding whether or not to provide you with a loan. The factors (apart from the vehicle's age) that influence whether you will be approved for a title loan on an older vehicle are listed here below:
- Your credit history – not always does credit history play a part it depends very much on the lender however some lenders require a certain minimum level of income. Essentially the lender wants to see that you have the income to be able to repay a title loan.
- References – often lenders want to see at least two references who can vouch for you and say that you are a person of good character who is likely to make repayments on a regular basis on your loans.
- You income – having a higher income increases your chances of being approved for a title loan, particularly when you have a vehicle that is older than 10 years.
- Vehicle info – the age of the vehicle, how many miles it has travelled and the make and model influence the availability of title loans on older vehicles. For instance a 15 year old Hyundai verses a 15 year old Mercedes will have different characteristics, some of this is to do with certain maintanice issues that crop up with different types of vehicles also different vehicles have different demand on the used car market depending on their age.
When applying for a car title loan for a car older than 10 years its important to deal with the right lender or broker who is able to help you in your specialized circumstances. There are many ways to find lenders, there are many brick and mortar stores in areas such as Los Angeles, Glendale, long beach just to name a few. Or you can apply with a lender online. The advantage of applying online is that often there are a number of places that can be assessed easiliy over the phone – feel free to call lenders to ask whatever questions you like. That way you will get a feel for the professionalism of the company that you are dealing with and also when you share some information about your personal circumstances and the vehicle you are looking to borrow against or use as collateral and the amount you are trying to get approved for, be it $5000 or $10000 or more, certain lenders are better positioned to be able to help you.
What do I need to apply
You will need to provide the following documents – Government ID, proof of income and photos of the vehicle and the mileage. We can arrange your loan entirely online throughout California which can be a convenient option for you to save you having to drive to a office and complete your loan that way. We finance all types of vehicles as well as boats and trucks and motorcycles. Discover why we have so many satisfied customers. We can help tailor a loan solution that suits you and your particular finance needs to help you unlock the equity in your vehicle. Plus we are completely up front about the terms and conditions so you know exactly what you are getting into before signing up on a loan. We can also arrange for electronic signatures so you can apply for a loan that way without having to come into our office. Best of all you can continue to use your vehicle while you repay the funds.If you have been refused before, there is no need to despair. Title Loans for cars older than 10 years are possible!. When you need cash quickly a car title loan is a popular option to obtain finance quickly and easily. Often people are seeking a title loan for cars older than 10 years. Typically title loan lenders lend between 50-100% of the blue book value of the vehicle. The older the car typically the lower the vehicle is worth and the riskier the loan is.
Get one of our Auto Equity Loans Today
True Financial is able to offer car title loans on vehicles older than 10 years. All you need to do is call up now or fill in the contact form and you will be connected with a representative 24 hours a day 7 days a week. Find out if you are eligible. We can fund your cash emergency fast, with loans approved online often the same day. Reach out to us and see how we can serve you to help you obtain the cash you need in a timely manner.